During the second quarter Electrolux professional grew profitably taking another positive step towards our financial targets. Overall market demand has held up well in the quarter, and our order stock remains at a good level”, says CEO Alberto Zanata on the Q2/2023 report.EBITA in the second quarter of last year, excluding items affecting comparability of SEK -35m, amounted to SEK 268m, corresponding to a margin of 9.8%.
Operating income amounted to SEK 345m (196), corresponding to a margin of 10.9% (7.2).
Income for the period amounted to SEK 257m (132), and earnings per share was SEK 0.89 (0.46).
Operating cash flow after investments amounted to SEK 462m (88).Contact & head office
Electrolux Professional AB interim report Q2 2023
July 21, 2023
Interim reports – Press releases
Regulatory
Second quarter, April-June 2023

Net sales amounted to SEK 3,153m (2,731). Sales increased by 15.5%. Organically sales increased by 8.3%. Currency had an effect of 7.5%. The divestment of the Russian operations in 2022 had a negative effect of 0.3%.
EBITA amounted to SEK 385m (233), corresponding to a margin of 12.2% (8.5). EBITA in the second quarter of last year, excluding items affecting comparability of SEK -35m, amounted to SEK 268m, corresponding to a margin of 9.8%.
Operating income amounted to SEK 345m (196), corresponding to a margin of 10.9% (7.2).
Income for the period amounted to SEK 257m (132), and earnings per share was SEK 0.89 (0.46).
Operating cash flow after investments amounted to SEK 462m (88).
Alberto Zanata, President and CEO:

“Another positive step towards our financial targets

During the second quarter we grew profitably taking another positive step towards our financial targets. Sales increased organically by 8.3% compared to last year, and EBITA improved significantly to SEK 385m (233) with a corresponding margin of 12.2% (8.5). The higher EBITA was driven by price, and volume growth in Laundry.

Food and Beverage grew organically by 0.5% compared to last year with an EBITA margin of 12.2% (10.0) Sales grew in Europe, but declined in Americas and in Asia-Pacific. Business in China has not taken off as expected after the postpandemic re-opening. Sales declined in the US, mainly driven by a significant drop in our distribution sales of refrigerators due to destocking among customers. Order intake for the Food & Beverage segment remained at a good level overall despite somewhat softer demand in the US.

Laundry achieved an organic sales growth of 28.5% with particular strength in Europe and the US. The EBITA margin improved to 16.4% (10.4) due to volume and price, while the corresponding quarter of last year was impacted by component shortages. Order intake for Laundry was good.