• In the first quarter, net sales increased by 22% to SEK 71.6 billion (58.6). Adjusted for currency movements, sales increased by 33%
• Highest ever operating income and operating margin for a first quarter
• The first quarter operating income amounted to SEK 6.5 billion (2.8). Operating margin in the first quarter was 9.1% (4.8). Compared to the first quarter of 2010, changes in exchange rates had a negative impact of approximately SEK 1.3 billion
• Operating income was positively affected by recognition of VAT credits corresponding to SEK 590 M and negatively affected by disturbances in the Japanese business estimated at SEK 250 M
• In the first quarter, basic and diluted earnings per share amounted to SEK 2.01 (0.83)
• In the first quarter, operating cash flow in the Industrial Operations was negative in an amount of SEK 4.0 billion (negative SEK 2.7 billion) reflecting normal seasonality
“We note that our mature markets are recovering, with continuing sharp sales increase and favorable profitability in our operations in the emerging markets of Brazil, China and India.” Leif Johansson, President and CEO.
Find the full report under Interim reports .
April 27, 2011
Contacts Investor Relations:
Christer Johansson, +46 31 66 13 34
Patrik Stenberg, +46 31 66 13 36
Anders Christensson, +46 31 66 11 91
John Hartwell, +1 212 418 7432