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Business 2016-07_jonas samuelson - electrolux

Published on February 1st, 2017 | by The GC Team

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Electrolux posts year-on-year rise in Q4 earnings

Electrolux today posted an improved net profit for the fourth quarter of 2016, despite a decline in organic sales.

Income for the period improved to SEK 1,272m compared to a loss of SEK 393m in the same period a year earlier.

Net sales increased 1% to SEK 32,144m, but the company said that currency translation had a positive impact of 4%. Organic sales declined by 3%.

Operating income for the quarter improved to SEK 1.6 billion.

President and CEO Jonas Samuelson said development was positive across most business areas. EMEA achieved a strong operating margin of above 7%, and operations in North America showed solid improvement. Operations in Latin America continued to be impacted by a weakening market environment.

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