Electrolux closed the fourth quarter 2017 recording net sales of SEK 32,366 million SEK. Organic sales growth was 4.0%, contribution from acquisitions and divestments was 1.4% while currency translation had a negative impact of 4.7%. The Operating income increased to 1,969 million SEK, corresponding to a margin of 6.1%. Four business areas achieved an operating margin of more than
Income for the period increased to 1,930 million SEK. According to the company, all business areas improved earnings.
«In 2017 – commented the President and CEO Jonas Samuelson – we had a consistent focus on driving sustainable profitability through portfolio management and cost efficiencies. As a result, we improved earnings across all our business areas and generated a margin of more than 6%. I am very pleased with the performance in 2017 and especially that we in the fourth quarter managed to grow our business in a profitable way, with an organic growth of 4%. With that we took an important next step on our journey towards profitable growth.» During the last quarter growth was particularly strong in Latin America, where organic sales grew by 30%. But also the EMEA region recorded good results.
«I am also very pleased – added Samuelson – that our strong focus in EMEA on new innovative products is paying off and that our premium brands continued to gain market share, contributing to an organic sales growth of 4%. In North America, sales under our own brands increased but could not offset the decline in volumes under private labels.»