Electrolux: good results for premium kitchens and laundry

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

Electrolux net sales amounted to 28,114 million SEK in the first quarter 2016 compared to the previous year. The company’s organic sales growth was 1.8% and acquired growth 0.1%, while currency translation had a negative impact of -5.2% on net sales. Operating income increased to 1,268 million SEK, corresponding to a margin of 4.5% and income for the period was 875 million SEK. As reported by Jonas Samuelson, president and CEO of the Group, the operating income has more than doubled compared to the first quarter of the previous year. «Major Appliances EMEA – the president commented – continued the positive trend and delivered an operating margin over 6% for the quarter and the last 12 months. Major Appliances North America achieved a significant turnaround compared with the weak first quarter 2015.»It was a good period for the appliance market in Western Europe and, particularly, in Italy, Germany and UK. Most markets in Eastern Europe also grew. Russia appears to have stabilized at low levels following the significant downturn in 2015.«Electrolux gained market share – Samuelson added – in the focus segments premium branded built-in kitchen and laundry. Organic growth of 7%, driven by higher volumes and improved mix, together with strong focus on cost efficiency, contributed positively. We confirm our expectations for market demand growth and forecast the Western European market to grow by 2-3% in 2016 and the market in Eastern Europe by approximately 2%.»

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