logo
Plus   Neg
Share
Email

Electrolux Q1 Profit Down 86% - Quick Facts

Swedish home appliances giant Electrolux AB (0MDT.L,0GQ1.L,ELUXY.PK) reported Friday that its first-quarter income fell 86 percent to 79 million Swedish kronor from 551 million kronor a year ago. Earnings per share fell to 0.28 kronor from 1.92 kronor last year.

Operating income amounted to 248 million kronor, down 68 percent from 764 million kronor last year. Operating margin fell to 0.8 percent from 2.7 percent a year ago.

Operating income includes restructuring costs of 1.05 billion kronor relating to consolidation of manufacturing in North America and Latin America, compared to restructuring costs of 596 million kronor last year.

Excluding these costs, operating income amounted to SEK 1.30 billion kronor, compared to 1.36 billion kronor last year.

Net sales for the quarter grew 6 percent to 29.71 billion kronor from 27.91 billion kronor a year ago. Organic sales growth was 1.9 percent, driven by price increases and improved mix across all business areas.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Alibaba is upgrading its intellectual property system using blockchain technology, according to local news outlet Sohu. Alibaba Platform Management expects this to benefit mainly small and medium-sized enterprises, brands and entrepreneurs. The technology will be fully implemented in September, and thereafter, the company intends to expand it to the field of digital copyright protection. Electronics retailer Best Buy Co., Inc. (BBY) reported Thursday a 27 percent increase in profit for the first quarter from last year, which was impacted by restructuring charges, and higher revenues. Both adjusted earnings per share and revenues for the quarter topped analysts' estimates. The company also provides guidance for the second quarter and reiterated its outlook for the full-year 2020. While reporting financial results for the second quarter on Thursday, Hormel Foods Corp. (HRL) lowered its earnings and net sales guidance for the full-year 2019. For fiscal 2019, the company now projects earnings in a range of $1.71 to $1.85 per share, and net sales between $9.70 billion and $10.20...
Follow RTT