Electrolux loses €180 million in the fourth quarter

Electrolux has forecast that operating profit in the fourth quarter of 2022 will be negative by about -2.0 billion SEK (180 million euros), including non-recurring items of -1.4 billion SEK.

The year-over-year decline in earnings was primarily a result of lower consumer demand and lower inventories both at retailers and at Electrolux. The worst performances were recorded on the North American markets where Electrolux lost around 1.2 billion SEK, as indeed in the third quarter of 2022

Fourth quarter net sales for the Group are estimated at approximately SEK 36 billion, an organic decrease of approximately 8%. Operating profit excluding non-recurring items is estimated for the Group at around -SEK 0.6 billion compared to +SEK 1.6 billion (EUR 140 million) in Q4 2021.