STOCKHOLM, Sweden, Oct. 20, 2004 (PRIMEZONE) -- Electrolux: INTERIM REPORT July - September,
- Net sales for the first nine months amounted to SEK 92,031m (95,762) and net income to SEK 2,420m (3,624), corresponding to SEK 8.05 (11.55) per share
- Continued strong cash flow in third quarter and for the period as a whole
- Operating income for the third quarter adversely affected by substantially higher materials prices
- Decline in income for Consumer Durables in Europe, due to higher brand spend and weaker demand in some Western European markets
- Higher income for both Consumer Outdoor Products and Professional Outdoor Products
Third Third Nine Nine
Amounts in SEKm, unless quarter quarter months months
otherwise stated 2004 2003 Change 2004 2003 Change
Net sales 29,588 30,387 -2.6% 92,031 95,762 -3.9%
Operating income1) 1,092 1,320 -17.3% 3,577 5,527 -35.3%
Operating income, excl.
items affecting 1,698 5,238 -11.3%
comparability 1,368 -19.4% 5,905
Margin, % 4.6 5.6 5.7 6.2
Income after financial 1,286 3,307 -39.0%
items1) 944 -26.6% 5,418
Income after financial
items, excl. items affecting 1,664 4,968 -14.3%
comparability 1,220 -26.7% 5,796
Margin, % 4.1 5.5 5.4 6.1
Net income1) 677 767 -11.7% 2,420 3,624 -33.2%
Net income, excl. items
affecting comparability 860 1,145 -24.9% 3,501 4,002 -12.5%
Net income per share, SEK1) 2.50 8.05 -30.3%
2) 2.35 -6.0% 11.55
Net income per share, excl.
items affecting 3.70 11.65 -8.6%
comparability, SEK2) 3.00 -18.9% 12.75
Value creation 442 649 -207 2,395 2,659 -264
Return on equity, %1) 12.9 17.4
Return on equity, excl.
items affecting 18.6
comparability, % 19.2
1)Income for the third quarter of 2004 includes items affecting comparability in the amount of SEK -276m (-378) and for the first nine months SEK -1,661m (-378).
2)Based on an average of 291.3 (312.2) million shares after share redemption and buy-backs for the third quarter and 300.7 (314.1) million for the first nine months of the year.
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