STOCKHOLM, April 24, 2026 /PRNewswire/ —
Highlights of the first quarter of 2026
- Net sales amounted to SEK 29,543m (32,576) with flat organic sales of -0.5% (7.9). Organic sales growth was +3.6% in Europe, Middle East & Africa and Asia Pacific (EMEA APAC) and +8.0% in Latin America, driven mainly by higher volumes. North America reported an organic sales decline of -11.6%, mainly reflecting weaker market conditions.
- Operating income excluding non-recurring items was SEK 198m (452), corresponding to a margin of 0.7% (1.4). The decline was driven by an operating loss in North America, mainly due to increased costs for U.S. tariffs and a significant slowdown in market demand. Also, a change in accounting estimates for customer rebate provisions reflecting price volatility in prior months and a voluntary recall of a limited number of Frigidaire gas ranges, jointly impacted operating income negatively with approximately SEK 0.3bn. Regions EMEA APAC and Latin America reported improved operating income excluding non-recurring items, with an operating margin of 4.1% and 7.9%, respectively. Increased cost efficiency contributed approximately SEK 0.7bn to Group operating income.
- Operating income of SEK -266m (452), corresponding to an operating margin of -0.9% (1.4) included a negative non-recurring item of SEK -463m related to previously announced actions in region Latin America.
- Income for the period amounted to SEK -470m (42) and earnings per share were SEK -1.74 (0.16).
- Operating cash flow after investments was SEK -4,566m (-3,107), negatively impacted by an operating loss in North America and a seasonal increase in working capital.
- Events after the close of the period: Electrolux Group announced on April 22, it will end production at the Jászberény, Hungary factory. Production is expected to cease by the end of 2026.
- Electrolux Group on April 23 announced that it has entered into agreements with Midea Group to establish a highly complementary long-term strategic partnership in North America.
- Electrolux Group on April 23 announced that it accelerates its profitable growth strategy through a partnership with Midea, global organization and footprint optimization, and a fully underwritten rights issue of approx. SEK 9 billion.
President and CEO Yannick Fierling’s comment
In recent months we have taken decisive steps to accelerate our profitable growth strategy. Yesterday initiatives were announced that will fundamentally strengthen Electrolux Group. We are …