Highlights of the fourth quarter of 2012
- Net sales amounted to SEK 29,185m (28,369) and income for the period was SEK 292m (221), or SEK 1.02 (0.77) per share.
- Net sales improved by 2.9%, of which 7.5% was organic growth and –4.6% changes in exchange rates.
- Strong volume growth, price increases and mix improvements in Latin America and North America contributed to the positive trend in net sales.
- Market conditions in Europe continued to weaken and Major Appliances, Small Appliances and Professional Products, were negatively impacted.
- Operations in Latin America showed record earnings.
- North America showed strong earnings growth despite extra costs from plant restructuring and for entering new distribution channels.
- Lower volumes and a weak price/mix development in Europe had a negative impact on results.
- Measures to improve manufacturing footprint were initiated and SEK 1,032m was charged to operating income within items affecting comparability, as previously communicated.
- The Board proposes a dividend for 2012 of SEK 6.50 (6.50) per share.
A telephone conference is held at 15.00 CET on February 1, 2013. The conference is chaired by Keith McLoughlin, President and CEO of Electrolux. Mr. McLoughlin is accompanied by Tomas Eliasson, CFO, and Peter Nyquist, SVP Investor Relations and Financial Information.
A slide presentation on the fourth-quarter results and full-year of 2012 will be available on the Electrolux website www.electrolux.com/ir
Details for participation by telephone are as follows:
Participants in Sweden should call +46 (0)8 505 598 53
Participants in UK/Europe should call +44 (0)20 3043 2436
Participants in US should call +1 866 458 4087
You can also listen to the presentation at www.electrolux.com/interim-report-webcast
For further information
Peter Nyquist, Senior Vice President, Head of Investor Relations and Financial Information: +46 (0)8 738 60 03.
Financial information from Electrolux is available at www.electrolux.com/ir