Interim Report Q3 2011 Results Presentation

Highlights of the third quarter of 2011

  • Net sales amounted to SEK 25,650m (26,326) and income for the period was SEK 825m (1,381), or SEK 2.90 (4.85) per share.
  • Net sales increased by 2.2% in comparable currencies and including one month of sales from Olympic Group, mainly as a result of higher sales volumes.
  • Operating income amounted to SEK 1,098m (1,977), corresponding to a margin of 4.3% (7.5), excluding items affecting comparability.
  • Price pressure and increased costs for raw materials had an adverse impact on operating income.
  • Weak demand in mature markets while demand in emerging markets continued to show strong growth.
  • Solid results for operations in Latin America and Professional Products.
  • Stable underlying cash flow from operations.
  • Acquisition of appliance company Olympic Group in Egypt completed.
  • Acquisition of appliance company CTI in Chile announced and completed.
  • Operating income includes approximately SEK 90m in expenses related to the acquisitions.
  • Changed market outlook; decline in mature markets.