STOCKHOLM (dpa-AFX) - Electrolux AB (ELUXY.PK), a Swedish home appliance major, reported Thursday a profit in its third quarter compared to prior year's loss, with the absence of prior year's divestment loss, amid weak net sales.
In the third quarter, income amounted to 192 million Swedisk kronor, compared to prior year's loss of 235 million kronor. Earnings per share were 0.71 krona, compared to loss of 0.87 krona a year ago.
Operating income improved 155 percent to 890 million kronor from prior year's 349 million kronor. Operating margin was 2.8 percent, higher than 1.0 percent last year, mainly driven by an improved result in North America.
The prior year's result included a negative non-recurring loss of 368 million kronor related to the divestment of the water heater business in South Africa.
Net sales, meanwhile, dropped 3 percent to 32.32 billion kronor from prior year's 33.29 billion kronor. Organic sales growth was 4.6 percent, mainly driven by strong growth in North America.
Organic sales growth was positive in the quarter, driven mainly by North America. In Europe, Asia Pacific, Middle East and Africa organic sales increased slightly.
For fiscal 2025, the company reduced outlook for capital expenditure to approximately 3.5 billion kronor to 4 billion kronor from previously expected 4 billion kronor to 5 billion kronor.
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