Swedish appliance giant Electrolux reported net sales of SEK 28,784 million (approx. US $4,003 million) in the third quarter of 2014, from SEK 27,258 million in the third quarter of 2013.

Sales increased by 5.6%, with 1.6% attributed to organic growth and 4.0% attributed to beneficial exchange rates.

Operating income was SEK 1,392 million in 3Q 2014, up 29% from SEK 1,075 million in 3Q 2013.

Electrolux President and CEO Keith McLoughlin said the main factor behind 3Q strong results is a strong operational recovery in Europe.

“The Latin American and Asia/Pacific operations performed well in challenging macro-economic conditions,” McLoughlin added. “Our sales and earnings in North America remain at a good level and continue to strongly contribute to the Group’s overall result.”

Major Appliances North America reported 3Q 2014 operating income of SEK 518 million (approx. US $78 million), down 8% from SEK 563 million in 3Q 2013.

Electrolux said sales were up in North America but earnings were negatively impacted by transition costs for new energy requirements and lower sales of air-conditioners.

“Major Appliances North America continues to deliver results with a good contribution to the Group’s earnings,” McLoughlin said. “Sales growth in the region remains healthy. Earnings were impacted by major transitions required to meet new energy standards from the Department of Energy as well as a continued weak market for air-conditioners. The transition has been slower and more complex than anticipated.”