Brief: Electrolux Professional Divests Its Operations In Russia

Electrolux Professional AB (publ)

11/07/2022 07:05

July 11 (Reuters) - Electrolux Professional publ AB
 EPROb.ST :
    * ELECTROLUX PROFESSIONAL DIVESTS ITS OPERATIONS IN RUSSIA
    * THIS WILL INCUR A COST OF SEK 35M THAT WILL BE TREATED AS
ITEMS
AFFECTING COMPARABILITY IN Q2 OF 2022.
    * DIVESTS ITS OPERATIONS IN RUSSIA TO ITS LOCAL MANAGEMENT.
    * ASSESSMENT THAT BUSINESS CONTINUITY IN RUSSIA, IN CURRENT
SITUATION, IS NOT FEASIBLE
    * DECISION TO LEAVE RUSSIA IS NOT EXPECTED TO HAVE ANY
MATERIAL
EFFECT ON GROUP'S PROFIT OR PROFITABILITY.
    * HAS 25 EMPLOYEES IN RUSSIA, AND IN 2021 SALES IN COUNTRY
WERE
APPROXIMATELY 1% OF GROUP SALES.

Source text for Eikon:  ID:nWkr5JS9Kq 
Further company coverage:  EPROb.ST 

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