Posted 15th March

Electrolux reports strong sales growth in EMEA

By KBBDaily on 15th March 2019 - 13:26pm
money matters, kitchen, electrolux, emea, europe, growth, sales, financial, kbb, kbbdaily

Electrolux Group has reported “strong organic sales growth” in EMEA for the 2018 financial year, with growth in eastern Europe driving overall market demand in the region “while demand in western Europe declined somewhat”.

The company said its performance in EMEA was due mainly to its “consistent focus on innovative products under premium brands”, adding that it has gained market shares in its “focus areas” of laundry and built-in kitchen.

The group saw sales growth of 1.7% in 2018, reaching SEK 124.1bn – around £10bn – with an operating margin of 5.4%. Market demand for core appliances in Europe increased by 1% last year, with growth of 7% in eastern Europe offset by a 1% decline in market growth in western Europe.

For EMEA, Electrolux reported net sales of SEK 42.7bn – around £3.5bn – with organic growth of 5.3% and an operating margin of 5.2%. “I am pleased with our performance in 2018 in the face of challenging conditions for Electrolux,” said Electrolux Group president and CEO Jonas Samuelson.

“Our focus on innovation to improve the consumer experience and our high cost efficiency are key competitive assets. Combined with price increases, these factors had a positive impact on our earnings, but could not fully compensate for the strong headwinds we faced mainly from raw material and currency.”

He added: “Electrolux has a clear strategy to deliver profitable growth and create shareholder value. Strong focus on consumer experience innovation and modularized products in automated production are, combined with a healthy financial position, key drivers for profitable growth.”

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