Good performance for Electrolux in Q2

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Jonas Samuelson, president and CEO of Electrolux
Jonas Samuelson, president and CEO of Electrolux

Electrolux announced the results of the second quarter 2016, when the Group totalized a net sales value of 29,983 milion SEK (31,355). Organic sales declined by -0.9%, acquired growth was 0.1% and currency translation had a negative impact of -3.6% on net sales. Good performance were recorded in most of the business areas: four of six areas achieved an operating margin above 6%. Operating income increased to 1,564 million SEK (921), corresponding to a margin of 5.2% (2.9). Electrolux also announced a strong operating cash flow after investments of 4.1billion SEK (2.9) and an income equal to 1,079 million SEK (608). «Electrolux operating income for the second quarter – commented the company’s president and CEO Jonas Samuelson – increased significantly compared to the same period of the previous year. The improvement was particularly strong in major appliances EMEA and major appliances North America. Major appliances Asia/Pacific and professional products showed a stable development in earnings. Measures to restore profitability within small appliances continued. A continued weak market environment in Latin America impacted the performance in the region negatively. Cash flow in the second quarter was at historically high levels and amounted to 4.1 billion SEK.

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