Report on the first quarter 2011

  • 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