Electrolux: losses mount, CEO quits

(CercleFinance.com) - Electrolux reports sales of 31,077m SEK (approximately E2.
66bn), down around 5% y-o-y (-3.7% in organic terms).

It posted an operating loss of -720m SEK, significantly more than in Q1 2023 (-256m SEK).

The Group recorded a Q1 loss of 1,230m SEK, more than double the level a year ago (-588m SEK), giving EPS of -4.55 SEK compared with -2.18 SEK a year earlier.

On this quarterly publication, the Group's CEO, Jonas Samuelson, announced that he would be stepping down on 1 January 2025, to hand over to a successor capable of devoting all his energy to leading this great company.

We have defined a clear strategic direction, focusing on the medium and premium segments through our strong brands, new product architectures and sustainable innovation focused on the customer experience, he commented.

The CEO says that the group's current priority is to achieve its cost reduction targets and return to profitable growth.


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