(Il Sole 24 Ore Radiocor) - Milano, 24 apr - The Swedish domestic appliance maker Electrolux said that in the first quarter it posted a net loss of 470 million crowns compared with a profit of 42 million a year earlier, resulting in a loss per share of 1.74 crowns compared with earnings of 0.16 crowns per share.

Net sales amounted to 29.543 billion crowns, down from 32.576 billion a year earlier, with organic sales down 0.5%.

Operating income excluding non-recurring items was 198 million crowns, down from 452 million, corresponding to a margin of 0.7%, down from 1.4%.

Operating cash flow after investments was a negative 4.566 billion crowns, against a negative 3.107 billion a year earlier.

"The home appliance industry is undergoing rapid change, with an increasingly dynamic market environment. In the first quarter I am pleased we strengthened our market positions in Europe and Brazil. Regions EMEA APAC and Latin America grew sales and improved operating income and margin, adjusted for non-recurring items. However, North America reported weaker sales reflecting a 10% decline in market demand, and an operating loss in the quarter. The Group's ambition for cost reductions remains high and with SEK 0.7bn in the first quarter, we are on track to reach the cost efficiency outlook of SEK 3.5-4.0bn for full-year 2026," said the president and CEO Yannick Fierling.

Following the downturn in the US home appliances market in the first quarter, the market outlook for North America in 2026 is revised from 'Neutral to Negative' to 'Negative', the company said. The Brazilian home appliance market developed positively in the first quarter and although growth rates may slow somewhat throughout the year the market outlook for Brazil in 2026 is changed from 'Neutral' to 'Positive'. The market outlook for Europe remains 'Neutral', it added.

"Our business outlook for 2026 remains overall unchanged, despite expected additional costs related to extended U.S.

Section 232 import tariffs on products that contain steel and aluminum, applicable since April 6, 2026. Sizeable price increases have already been announced in North America with the ambition to offset the negative impact from tariffs,".

Electrolux said.

(RADIOCOR) 24-04-26 08:57:54 (0176) 5 NNNN