Updated 2016-04-28 09:50. Published 2016-04-28 08:07
Jonas Samuelson took over the CEO post January 11 when Keith McLoughlin, Electrolux left after unsuccessful purchase of GE Appliances. The first report as the new CEO delivered may be classified as strong.
Organic growth went from minus 0.5 to 1.8 percent compared with the corresponding quarter last year. Operating profit landed at 1.3 billion, up from 516 million kronor. This despite the headwind from currencies that negatively impacted earnings by 5.2 percent.
Electrolux raises also , its market forecast for North America in 2016 . Now the company believes that demand growth lands at between 4 and 5 percent in 2016. Previously, the forecast range of 3-4 per cent, writes news agency Direkt.
business area Major Appliances North America turned a minus the result of over half a billion plus in the first quarter in 2016.
Electrolux writes in report to see organic sales growth in the business areas Appliances EMEA, Appliances North America and Professional Products.
In Latin America go however, the poorer and most importantly, it is Brazil that the market turned downward. Jonas Samuelson writes in the Managing Director that it expects demand in Latin America, and especially Brazil, will remain weak over in 2016.
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