25 Apr '12, 10pm

Electrolux Sales Up On Organic Growth and Acquisitions - Appliance Magazine

Swedish-based appliance giant Electrolux reported first quarter 2012 net sales of SEK 25,875 million (approx. US$3,835 million), up from SEK 23,436 million (approx. $3,474 million) in the first quarter of 2011. Income in the first quarter was SEK 559 million (approx. $83 million), up from SEK 457 million (approx. $68 million) in 1Q 2011. "The record-high sales growth was not only attributable to acquisitions, but was also driven by strong organic growth, especially in Latin America,"" said President and CEO Keith McLoughlin. "In North America, we are seeing that our price increases are having a positive impact, and our European appliance operation is regaining market share." Net sales improved 10.4%; 3.5% was organic growth. The acquisitions of Egyptian appliance maker Olympic Group and Chilean appliance maker CTI raised sales 5.8%. The company saw especially strong organi...

Full article: http://www.appliancemagazine.com/news.php?article=1577914...

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