Electrolux’earnings increased in the fourth quarter of 2014 and the operating income rose by 20 percent to SEK 1,472 million. This is the result of an operational recovery in several major regions; Europe, Latin America and Asia/Pacific. Professional Products also continued to show a solid performance. Earnings in North America were impacted by the transition to comply with the new energy standards. Of the Group’s six business areas, five reached an EBIT margin of more than 6 percent in the quarter.
“The initiatives to restore profitability in our operations in Europe – Electrolux president and CEO Keith McLoughlin comments – continue to show good results. Cost savings in combination with higher efficiency in the production and an active product portfolio management led to a significant improvement in the operating income. An improved product mix has offset lower sales volumes and a structural price pressure. The growth in built-in kitchen continued. We expect the total European market to grow by 1-2 percent in 2015, although the development in Russia is very uncertain”.