Highlights of the first quarter of 2022
- Net sales increased to SEK 30,118m (29,026), corresponding to an organic sales decline of 3.4%. This was driven by lower volumes compared to a strong last year, partially offset by strong price execution.
- Operating income amounted to SEK 1,575m (2,297), corresponding to a margin of 5.2% (7.9).
- Operating income includes a positive non-recurring item of SEK 656m, related to the U.S. tariff case, impacting the business area North America. Excluding this non-recurring item, operating income amounted to SEK 919m, corresponding to a margin of 3.1% (7.9). Significant cost increases and supply constraints impacting volume were not fully compensated by price increases and new product launches.
- Income for the period amounted to SEK 950m (1,556) and earnings per share was SEK 3.40 (5.41).
- Operating cash flow after investments was SEK -5,280m (-161). In addition to a more normal seasonal outflow compared to last year, global supply chain constraints further increased inventory levels.