Brief: Electrolux Professional Q1 Operating Income Roses To SEK 199 Mln

Electrolux Professional AB (publ)

27/04/2022 07:07

April 27 (Reuters) - Electrolux Professional publ AB
 EPROb.ST :
    * Q1 REVENUE SEK 2,484 MILLION VERSUS SEK 1,661 MILLION YEAR
AGO
    * Q1 EBITA SEK 236 MILLION VERSUS SEK 103 MILLION YEAR AGO
    * Q1 OPERATING INCOME AMOUNTED TO SEK 199 MILLION VERSUS SEK
88
MILLION YEAR AGO
    * SALES IN MOST COUNTRIES ARE NOW BACK, OR ALMOST BACK, AT
2019
PRE-PANDEMIC LEVELS, WITH A FEW COUNTRIES EVEN AHEAD OF
PRE-PANDEMIC LEVELS
    * HOWEVER, IN SEVERAL COUNTRIES IN ASIA-PACIFIC WE ARE STILL
BEHIND IN SALES
    * SALES IN QUARTER INCREASED ORGANICALLY BY 25.5% COMPARED
TO LAST
YEAR AND GREW 49.6% INCLUDING RECENTLY ACQUIRED UNIFIED BRANDS
BUSINESS
    * DESPITE DECISIVE ACTIONS, PRICE INCREASES HAVE NOT FULLY
COMPENSATED FOR INCREASED COMPONENT, RAW MATERIAL AND LOGISTIC
COSTS AND HAD A NEGATIVE NET IMPACT OF ABOUT SEK -70M IN Q1
    * DESPITE UNCERTAIN GEOPOLITICAL SITUATION, STRONG ORDER
INTAKE
TREND HAS CONTINUED
    * COMBINED WITH SOLID ORDER STOCK, THIS GIVES US CONFIDENCE
FOR
Q2, BUT WE EXPECT RAW MATERIAL AND COMPONENT SUPPLY CHALLENGES
TO PERSIST

Source text for Eikon:  ID:nWkr248jG9 
Further company coverage:  EPROb.ST 

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