During the second quarter 2017, Electrolux net sales increased by 5.1%, while organic sales were unchanged. Contribution from acquisitions and divestments was 1.2% and currency translation had a positive impact of 3.9% on net sales. Moreover, operating income increased to 1,942 million SEK, corresponding to a margin of 6.2%: four of six business areas achieved an operating margin above 6%. Income for the period increased to 1,308 million SEK.
In EMEA, Electrolux premium brands continued to gain market share driven by the built-in kitchen segment. The launch of the new AEG products is ongoing, with strong market impact.
The European appliance market remains solid, with demand growth in several markets in Western and Eastern Europe, while the UK and the Middle East and Africa continue to be weak.
«We expect the total European market to be positive and confirm our outlook of around 1% growth in 2017. – said the company President and CEO Jonas Samuelson – During the second quarter Electrolux improved its operating income by close to 25%, achieving an operating margin of 6.2%. Profitability increased in most of our business areas. This was driven by continued focus on improving product mix through active portfolio management, and increased cost efficiency within our operations. Cash flow continued to be strong, further strengthening our balance sheet.»