Electrolux slumps on weak Europe in Q2

Electrolux AB

18/07/2025 08:20

** Shares in Swedish home appliances Electrolux ELUXb.ST slump 11.8% due to poor Q2 performance in Europe, despite an earnings beat

** Both Citi and Kepler analysts note the weaker-than-expected performance in Europe

** Kepler says it is due to price pressure in a mainly replacement-driven market

** J.P.Morgan says that while the company reiterated its outlook, the details were unfavourable due to increased competitive pressure in Europe, among others

** Q2 operating profit beat consensus at SEK 797 million ($82.07 million)

** "While the headline operating profit came in ahead of consensus, this included a gain of SEK 180 million from the divestment of the Kelvinator trademark portfolio in India", J.P.Morgan says in a note

** The stock is heading for its worst day since April, if losses hold, with a 31% drop year-to-date

($1 = 9.7117 Swedish crowns)

 (Reporting by Jagoda Darlak)

 ((Jagoda.Darlak@thomsonreuters.com; +48 58 769 65 40;))