Interim Reports Q4 2018 – Presentation

Highlights of the fourth quarter of 2018

  • Net sales amounted to SEK 34,425m (32,580). Sales growth was 2.5%, driven by price increases and mix improvements across most business areas.
  • Operating income amounted to SEK 1,963m (2,065), corresponding to a margin of 5.7% (6.3). Four business areas achieved above 6% margin.
  • Excluding a non-recurring item of SEK +71m relating to the completion of the French antitrust proceeding, operating income amounted to SEK 1,892m, corresponding to a margin of 5.5% (6.3).
  • Positive earnings contribution from volume/price/mix across all business areas partly offset higher input costs and currency headwinds.
  • Major Appliances North America faced higher cost inflation from tariffs and a decline in sales to private label.
  • Operating cash flow after investments amounted to SEK 3,163m (2,078).
  • Income for the period decreased to SEK 1,575m (2,002), and earnings per share was SEK 5.48 (6.97).
  • The Board proposes a dividend for 2018 of SEK 8.50 (8.30) per share, to be paid in two installments.
  • The Board has announced the intention to prepare a separation and listing of the Professional Products business area.