Electrolux sees gradual North American recovery
Swedish appliance manufacturer Electrolux reported a 5.9% sales increase in its third quarter, with sales of 27.1 billion Swedish krona, or $4.1 billion.
“In the third quarter, Electrolux recorded a significant year-on-year improvement in its sales and earnings despite considerable uncertainty in markets across the globe,” said CEO Keith McLoughlin.
All business areas with the exception of Europe achieved an operating margin above 6%.
“Market demand for core appliances in North America in the third quarter was slightly positive, and we expect this trend to continue to improve, supported by a gradual recovery in the housing market,” he said. “We will utilize the positive momentum and invest more in brand building activities with the aim of further strengthening the group’s position.”