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 3% 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 7% 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% in the Q1 of 2016 from SKr29bn (Q1 2015) to SKr28.1bn (£2.3bn).

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

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

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