Strong growth for ELECTROLUX Major Appliances Emea

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Electrolux

Electrolux net sales reached 29,087 million Sek, recording a growth of 13.5%. The increase is a result of strong positive currency translation. Sales increased by 13.5%, of which -0.5% was organic sales, 0.1% acquisitions and 13.9% currencies.
A strong improvement in operating income was recorded for Major Appliances Emea, while, earnings for Major Appliances in North America continued to be impacted by transition of the product range to new energy requirements and ramp up of a new production facility.
Professional Products saw a solid development.
Operating income amounted to 516 million Sek, corresponding to a margin of 1.8%.
Income for the period was million Sek, and earnings per share was 1.18 Sek. Market demand in Europe increased in the first quarter year-over-year. Western Europe increased by 4% while Eastern Europe declined by 10% due to a sharp decline in Russia. Excluding Russia, demand in Eastern Europe increased by 3%. In total, the European market improved by 1% or 4% excluding Russia. Market demand for core appliances in North America increased by 1%.
Market demand in Australia declined while demand in Southeast Asia and China is estimated to have increased. Demand for appliances in Brazil continued to deteriorate and most other Latin American markets also declined.