Electrolux Professional’s turnover peaks at £623m after strong end-of-year finale


Electrolux Professional racked up global sales of SEK6.86 billion (£623m) in 2016 as its commercial foodservice and laundry equipment operations finished the year in a rich vein of form.

The figure represents a 4% improvement on the SEK6.54 billion (£594m) it made during the 12 months before, although the company noted that the result was “positively impacted” by 1.3% due to the transfer of operations under the Kelvinator brand in North America.

Fourth quarter sales increased from SEK1.75 billion (£159m) to SEK1.92 billion (£174m) as overall worldwide market demand strengthened in the final three months of the year.

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On a regional basis, Electrolux said that Q4 demand for its professional equipment in its core markets in Western Europe “improved slightly”, as did the US, while demand in emerging markets showed a “mixed pattern”.

Electrolux Professional 2016 operating income and margin

The company achieved organic growth of 7% during the quarter as both laundry and foodservice equipment benefitted from a pick-up in orders.

“Sales grew in several markets and were particularly strong in Western Europe, the US and Japan. A strong product offering in both foodservice and laundry equipment contributed to the positive sales trend in most markets,” the company stated.

For the year, operating income rose 11% from SEK862m (£78m) to 954m (£87m) while operating margin inched up from 13.2% to 13.9%.

The company said higher sales volumes had a positive impact on operating income, while investments in product development to strengthen the positions in new segments and markets also paid off.

Tags : Electrolux ProfessionalfinancialsFoodservice equipmentlaundry
Andrew Seymour

The author Andrew Seymour

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