Highlights of the third quarter of 2013
- Net sales amounted to SEK 27,258m (27,171) and income for the period was SEK 656m (923), or SEK 2.29 (3.22) per share.
- Organic sales growth was 4.9%, while currencies had a negative impact of –4.6%.
- Continued organic sales growth in all regions, except for Major Appliances Europe, Middle East and Africa.
- North America continued to show strong organic growth of 8% and reached an operating margin of 7% as a result of increased volumes and improved mix.
- Continued weak markets and lower volumes impacted results negatively in Europe.
- Strong performance for Professional Products.
- Negative impact from currencies of SEK –519m affected earnings in Latin America, Asia/Pacific and Europe.
- Initiated actions to reduce annual costs by SEK 1.8bn by improving manufacturing footprint and reducing overhead costs, mainly within Major Appliances Europe.
A telephone conference is held at 9.00 CET on October 25, 2013. The conference is chaired by Keith McLoughlin, President and CEO of Electrolux and Tomas Eliasson, CFO.
Details for participation by telephone are as follows:
- Participants in Sweden should call +46 8 505 564 74
- Participants in UK/Europe should call +44 203 364 5374
- Participants in US should call +1 855 753 2230
You can also listen to the presentation at http://www.electrolux.com/interim-report-webcast