Electrolux Q3 Interim Report 2019: Further Strengthening Innovation and Efficiency
AB ELECTROLUX B S/ADR (ELUXY)
NASDAQ:AMEX Investor Relations:
finance.yahoo.com/quote/eluxy
Company Research
Source: PR Newswire
STOCKHOLM, Oct. 25, 2019 /PRNewswire/ -- 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 fo
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