Published on February 1st, 2017 | by The GC Team0
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.