Electrolux sees strong demand for major appliances

Electrolux has seen “strong” results for major appliances in the first-quarter of 2016.

The appliance manufacturer reported a three per cent increase in demand for core appliances in western Europe in the first quarter. Growth was particularly strong in the UK, Italy and Germany. Demand in eastern Europe remained unchanged.

It also reported a seven per cent increase in organic growth in the first quarter in the Middle East and Asia (EMEA). Net sales in the region also increased at SKr9 billion (£764m), compared with SKr8.6bn in the same period in 2015.

Overall, the company saw net sales drop 3.3 per cent in the Q1 of 2016 from SKr29bn (Q1 2015) to SKr28.1bn (£2.3bn).

Organic sales growth was at 1.8 per cent and acquisitions had a positive impact on sales of 0.1 per cent. Currency fluctuations took a 5.2 per cent bite out of the value of sales.

Operating income (profit) increased by 4.5 per cent at SKr1.27bn, up from SKr516m in the same period last year.