STOCKHOLM (dpa-AFX) - Electrolux AB (0MDT.L) Thursday reported a loss before tax of SEK 630 million for the second quarter, compared with a profit of SEK 265 million for the same period last year, primarily due to lower organic sales impacted by decline in demand.
The company posted a net loss of SEK 648 million or SEK 2.38 per share for the quarter, compared with a profit of SEK 257 million or SEK 0.92 per share last year.
Quarterly sales declined to SEK 32.653 billion from SEK 33.749 billion a year ago.
Additionally, the company said as part of its efforts to strengthen strategic focus, it has initiated preparations for a potential divestment of non-core assets with a potential value of SEK 10 billion.
The assets that the company plans to divest include the production facilities in Egypt, which produce Zanussi-branded major appliances, and production facilities for water heaters in Egypt and South Africa, along with continued sale of non-strategic real estate.
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