Interim Reports Q3 2019 – Presentation

Highlights of the third quarter of 2019

  • Net sales amounted to SEK 32,520m (30,444). Sales growth of 1.0%, driven by price/mix improvements.
  • Operating income amounted to SEK 1,189m (1,756), corresponding to a margin of 3.7% (5.8).
  • Operating income includes non-recurring items of SEK -412m (0) relating to restructuring charges for efficiency measures and outsourcing projects across the Group, recovery of overpaid sales tax in Brazil and a legal settlement in the U.S. Excluding these items, operating income amounted to SEK 1,601m (1,756), corresponding to a margin of 4.9% (5.8).
  • Price increases continued to fully offset the headwinds from higher raw material costs, trade tariffs and currency. Manufacturing transition costs in North America and higher marketing investments impacted earnings negatively, while mix improvements across business areas contributed positively.
  • Operating cash flow after investments amounted to SEK 2,594m (1,352).
  • Income for the period decreased to SEK 739m (1,162), and earnings per share was SEK 2.57 (4.04).