Fourth quarter, October -
- The COVID-19 pandemic continued to impact the hospitality business. Net sales amounted to
SEK 1,935m (2,334). Sales decreased by 17.1%. Organically sales decreased by 13.2%. -
EBITA amounted to
SEK 142m (181), corresponding to a margin of 7.3% (7.8). -
Operating income amounted to
SEK 119m (165), corresponding to a margin of 6.1% (7.1). -
Operating cash flow after investments amounted to
SEK 460m (355). -
Income for the period amounted to
SEK 70m (168), and earnings per share wasSEK 0.24 (0.59). - Due to the ongoing pandemic, the Board proposes to pay no dividend for 2020.
"After the sales recovery in the third quarter, the second wave of the coronavirus pandemic has halted the recovery. However, the negative impact is more contained now compared to the first wave, as customers have learned to adapt to the new situation.
Sales in the quarter declined organically by 13.2%. Sales of Laundry was almost flat compared to the same quarter last year which shows both the resilience of the laundry market and our strong position. Sales of Food & Beverage declined compared to the same quarter last year, to a large extent driven by the weak development in
Thanks to short-term savings, improvements from the structural cost saving programs and the stable development in Laundry, we have been able to deliver a margin in line with the same quarter last year. EBITA for the quarter was
Sales of Food & Beverage declined organically by 20.8% in the quarter, reporting an EBITA-margin of 1.0%. Laundry continued on a comparable sales level with an organic decline of 1.9%, but an improved EBITA-margin of 16.9%.
After 2019 with its intense preparations for the separation from
We are proud to have demonstrated resilience during the pandemic turbulence in 2020. Thanks to the flexibility of our employees and the cost saving measures adopted, we have laid the foundation for the future. Short term the pandemic creates challenges, but when larger parts of the population worldwide are vaccinated against the coronavirus, I am confident that the business in restaurants, hotels and bars will come back - and when this happens, we will have the products, the service and dedicated people in place to support our customers."
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https://news.cision.com/electrolux-professional/r/electrolux-professional-ab-year-end-report-q4--2020,c3278285
https://mb.cision.com/Main/18876/3278285/1366991.pdf
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