Electrolux: decides to sell Russian subsidiary
(CercleFinance.com) - Electrolux suspended its operations in Russia when the war in Ukraine started.
The company has now decided to leave Russia and hand over the business to local management via the sale of its Russian subsidiary.
A capital loss of approximately 350 million Swedish kronor (about 33 million euros) will be recorded as a non-recurring item affecting the operating result of the Europe business area in Q3.
Note that in 2021, Electrolux's sales in Russia represented 4% of the sales of the European business area and 1.6% of the Group's sales.
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