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Finance electrolux keith mcloughlin

Published on February 3rd, 2014 | by The GC Team

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Electrolux finishes year with SEK 987 million Q4 loss

Electrolux posted losses amounting to SEK 987 million for the fourth quarter of 2013, around a third more than analysts had predicted.

In the comparable quarter of 2012, the company reported profits of SEK 242 million.

Sales in the quarter were SEK 28,891 million, against SEK 29,185 in the prior fourth quarter.

Full-year 2013 profits fell more than 70% to SEK 672 million on sales of SEK 109,151, down slightly from full-year 2012 revenues of SEK 109,994.

Electrolux President and CEO Keith McLoughlin (pictured) said earnings declined due to headwinds in the European market and significant currency fluctuations.

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