Electrolux: FY earnings up 17%

(CercleFinance.com) - Electrolux has reported 2021 net sales of 125.
6 billion Swedish kronor, up 8% y-o-y.

2021 EBIT reached 6.8 billion Swedish kronor, up 18% from 2020. At the bottom line, Electrolux posted an annual profit of 4.67 billion Swedish kronor, up 17%, i.e. EPS of 16.31 Swedish kronor.

However, Q4 was more mixed: while sales (35.3 billion Swedish kronor) were up 4% relative to Q4 2020, EBIT was down 65% (882 million Swedish kronor), while profit was down 68% to 596 million Swedish kronor.

The group said that it expects Q1 2022 to be as challenging as Q4 2021, with significant risks of disruption from the resurgence of the coronavirus, although it expects sequential improvements from mid-2022 onwards.

The market seems to be focusing on this shaky outlook, with the share down about 5% on Friday afternoon.


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