Electrolux reports sales of SEK 31,077 million (approximately 2.66 billion euros), down around 5% on the same period a year earlier (-3.7% in organic terms).

The Group posted an operating loss of SEK -720 million, a loss that has widened significantly compared with Q1 2023 (SEK -256 million).

In Q1, the Group recorded a loss of SEK 1,230 million, more than doubling in 1 year (SEK -588 million in Q1 2023), giving EPS of SEK -4.55 compared with SEK -2.18 a year earlier.

On the occasion of this quarterly publication, the Group's CEO, Jonas Samuelson, announced that he would be stepping down on January 1, 2025, to hand over to a successor capable of devoting all his energy to leading this great company.

We have defined a clear strategic direction, focusing on the medium and premium segments through our strong brands, new product architectures and sustainable innovation focused on the customer experience", he commented.

According to the CEO, the Group's priority now is to achieve its cost reduction targets and return to profitable growth.

Copyright (c) 2024 CercleFinance.com. All rights reserved.