Electrolux enjoys sales boost

Post by Tom Williams on 22nd October 2012 in Refrigeration, General industry

Electrolux enjoys sales boost

Swedish domestic appliance manufacturer Electrolux has announced an increase in sales, despite tough market conditions.

The company saw net sales rise 6 per cent in the third quarter of 2012 to 27.2bn Swedish krona (£2.6bn), up from SKR 25.6bn a year earlier. 

Electrolux, which manufactures a wide range of appliances from vacuum cleaners to washing machines, described the figures as a "significant year-on-year improvement". The rise was attributed to strong organic growth in North America, Latin America and Asia.

President and chief executive officer Keith McLoughlin said: "We expect that Electrolux will exceed its target for organic sales growth of 4 per cent in 2012. It would be the first time Electrolux achieved an organic growth of more than 4 per cent since 2005, when the appliance market in Europe and North America peaked.

"The diversification of our revenue base through expansion in emerging markets as well as through launches of new product innovations, which increased market share in our core markets, is having a positive impact on Electrolux sales and earnings growth."

According to a report by the Financial Times, Electrolux is set to place greater emphasis on top-of-the-range products which offer users a "Michelin-starred experience".

The firm recently unveiled the Electrolux Grand Cuisine, billed as an "ultra-luxury kitchen range" and "the first professional cooking system specifically for home use and the first that makes it possible to fully recreate Michelin-star restaurant experiences at home".

Related articles: