Fitch Ratings has downgraded Arçelik’s long-term credit rating from B+ to B, maintaining a negative outlook as the Turkish appliance manufacturer faces continued financial pressure.
The downgrade reflects weaker demand in Turkey and international markets, increased price competition and rising operating costs. These factors have put pressure on profit margins, increased borrowing requirements and weakened the company’s financial position.
Tag Archives: Financial results
Whirlpool Faces Continued Margin Pressure
Whirlpool reported a challenging third quarter for 2026, with falling sales and weaker earnings highlighting the continued pressure on the global home appliance market.
Net sales fell 8.8% year on year to $3.68 billion, while ongoing EBIT declined 46.1% to $97 million. The ongoing EBIT margin dropped to 2.6%, compared with 4.5% in the same period last year.
Continue readingElica Q3/9M 2026 Results: Revenues Soft, Profitability Strengthens
Italian kitchen hood and cooking specialist Elica closed the first nine months of 2026 with consolidated revenues of €326.4 million, down 6.6% from €349.5 million in the same period of 2025. The decline reflects ongoing cautious consumer spending and softer demand across key markets. Yet the company delivered clearer progress on profitability.
Normalised EBITDA held steady at €21.8 million, but the margin improved from 6.3% to 6.7%. Normalised EBIT rose 4.7% to €4.9 million. Momentum was strongest in the third quarter, where normalised EBIT grew 14.6% and the EBITDA margin reached 7.1% — a 70 basis-point gain.
LG financial
LG Electronics is off to a strong start in 2025 with record first-quarter financial results. The South Korean company announced consolidated revenue of KRW 22.74 trillion and operating profit of KRW 1.26 trillion, marking a new all-time high. Its Home Appliance Solution division, the strategic core of its business, also recorded unprecedented performance, with revenue up 9.3% and profit up 9.9%.
In an increasingly competitive market, LG continues to innovate by expanding its product offering, optimizing its operational chain, and developing connected services. These initiatives aim to strengthen its position in the B2B segment and capitalize on new consumer expectations for smart home technology.
Alongside these strong results, LG is excited to announce the renewal of its partnership with chef Hélène Darroze for 2025. With six Michelin stars, she continues her role as ambassador for the LG kitchen range, a partnership born in 2024 and praised for its consistency between culinary excellence and technological performanceThe year promises to be rich in projects centered around this collaboration: exclusive recipes, sharing of tips, and demonstrations of flagship technologies like AirFry, 100% steam cooking, and EasyClean express cleaning. The InstaView innovation, which allows you to see the inside of appliances with a simple gesture, will also be highlighted, as will the LG ThinQ app, for connected and responsible management
Midea results
Midea Group Reports Q1 2025 Results: Revenue Hits RMB128.4B with 38.0% Net Profit Growth
The first-quarter 2025 financial results. Delivered robust growth by focusing on core businesses, achieving total revenue of RMB128.4 billion, a 20.6% year-over-year increase. Net profit attributable to shareholders surged 38.0% to RMB12.4 billion, with net profit margin rising 1.4 percentage points to 9.9%, demonstrating strong operational momentum.
🌟 Highlights:
• Cross-border e-commerce sales grew over 50%
• Established Asia-Pacific HQ in Thailand and Saudi Center for localized operations
• AIGC implementation improved overseas service efficiency by 15%
• Showcased smart solutions at CES, KBIS, and ISH exhibitions
• Energy Solutions & Industrial Technology: Revenue reached RMB 11.1 billion (+45%), with Welling Auto Parts launching Mexico production base
LG results
LG today announced its preliminary earnings results for the first-quarter of 2025, reporting a consolidated revenue of KRW 22.7 trillion and operating profit of KRW 1.3 trillion. This marks the first time LG’s first-quarter revenue has exceeded KRW 22 trillion the home appliance solution business, LG’s premium products maintained strong leadership in the global market. The built-in appliance business – a B2B segment – alongside key component sales such as motors and compressors, also contributed meaningfully to the performance.
The company’s subscription business, which combines hardware and services, is rapidly expanding. In 2025, LG plans to further strengthen its subscription-ready product lineup and customer care services, while also accelerating the global rollout of its subscription model.
Midea results
Midea Group a global leader in smart home appliances and commercial & industrial solutions, today we announced record-breaking 2024 annual results, with revenue reaching RMB 409.1 billion (up 9.5% YoY). Net profit attributable to shareholders surged 14.3% to RMB 38.5 billion, while operating cash flow hit a historic high of RMB 60.5 billion, underscoring strong operational efficiency.
