Electrolux announced its financial results for the first quarter of the year. In this period, the company’s sales growth was 3.3%, while currency translation had a negative impact of 4.4%. Strong organic sales growth has been recorded in Major Appliances EMEA and Asia/Pacific, while Major Appliances Latin America was significantly impacted by higher costs for raw materials and currency headwinds.
«Our profitable growth journey – commented Electrolux president and CEO, Jonas Samuelson -continued in the first quarter and we achieved sales growth of 3.3%, of which organic growth was 1.8%. In the quarter we initiated the consolidation of our North American production and took a restructuring charge. Excluding this charge, operating income was in line with last year. I am particularly pleased that our consistent focus on portfolio management and cost efficiency paid off, offsetting pressure from higher raw material costs and currency. The earnings trend for our operations in EMEA, Asia/Pacific and Home Care & SDA remained positive and Professional Products’ performance was once again solid. In EMEA, the focus on innovative products under our premium brands continued to drive profitable growth and market share gains. Our North American business area was impacted by significantly lower air care volumes and continued lower volumes under private label. However, I am very pleased to see the strategically important newly launched Frigidaire product range delivering double digit growth resulting in market share gains in core branded appliances.»