Electrolux reports growth in foodservice equipment sales

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Electrolux today said its professional products division had delivered a “solid performance” over the past three months after unveiling its latest set of quarterly financial results.

Sales of commercial foodservice and laundry equipment across the world grew 2% year-on-year to SEK1.6 billion (£132m).

Professional products revenues for the whole of 2014 totalled SEK6 billion (£486m), representing a 6% rise on the previous 12 months.

The Stockholm-based manufacturer said it saw a pick-up in sales of professional equipment during the quarter, with the company referencing its UK business as one of the star performers.

Sales in markets such as the UK and Northern Europe offset some of the softness Electrolux saw in catering equipment sales elsewhere on the continent.

The company stated: “Market demand increased in the Nordic countries and the UK, where Electrolux holds a strong position, but slowed down in several other regions in Western Europe. Demand in Eastern Europe declined.”

The company said the organic growth it had achieved had led to market share gains. “Sales growth in Western Europe, which accounts for more than 60% of sales, and growth in Africa and the Middle East, were the main contributors to this development,” it stated.

Operating income and margin improved as a result of higher sales volumes and increased efficiency within operations.

Professional products account for 5% of the Electrolux Group’s overall business. The majority of its turnover comes from domestic appliances.

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