Electrolux: stock hit by profit warning

(CercleFinance.com) - Electrolux shares are down 4% on the OMX as the Swedish household appliance maker estimated its Q4 2022 operating result at about -2 billion Swedish kronor, including extraordinary items of -1.
4 billion SEK.

The company said that the year-on-year decline in its result was mainly due to weaker consumer demand and inventory reductions at retailers and Electrolux, combined with high cost levels.

Nevertheless, its cost reduction and turnaround program in North America has begun to gain momentum and the company has confirmed that it expects to make a positive contribution of four to five billion SEK to FY 2023 earnings.


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