Electrolux half-yearly report 1998

Press Release, August 11, 1998 ELECTROLUX HALF-YEARLY REPORT 1998 First half Second quarter 1998 1997 1998 1997 Net sales, SEKm 60,875 57,273 32,308 30,928 Operating income excl. items affecting comparability, SEKm 3,045 2,328 1,669 1,324 Items affecting 555 -1,896 555 -1,896 1) comparability, SEKm Operating income, SEKm 3,600 432 2,224 -572 Income after financial items, 2,923 -264 1,863 -947 SEKm Income before taxes, SEKm 2,943 -311 1,868 -911 Net income, SEKm 1,897 -398 1,230 -753 2) Net income per share, SEK 5.20 -1.10 3.35 -2.05 1) Items affecting comparability in 1998 include capital gains totalling approximately SEK 555m, and in 1997 a capital gain of SEK 604m as well as a provision of SEK 2,500m for the current restructuring program. 2) Share split 5:1 in June 1998. The figure for the previous year has been adjusted accordingly. Good growth in sales and income in Europe and North America All business areas report continued favorable trends and higher operating income Considerably higher income for white goods Provision of SEK 175m within Household Appliances for doubtful receivables and additional adjustments in Brazil and Asia Continued streamlining through divestment of operations Restructuring program on track The complete interim report is now aviable for download at www.bit.se