Annual Report 2021 Well positioned to create value

We delivered record sales and earnings and
met or exceeded all our financial targets through an attractive
product and brand offering, and we successfully offset significant
cost inflation through price increases.

I am also very pleased with our strong price execution.

Sales growth of 14.3% (3.3)resulted in a record net sales.

The net price realization was strong with good traction from
list price increases implemented during the year across regions,
coupled with a low level of promotional activity reflecting
constrained product availability. Price fully offset the significant
cost inflation, mainly from raw material but also from electronic
components and logistics, as well as currency headwinds.