Brief: Electrolux Professional Q3 EBITA Falls To SEK 96 Mln

Electrolux Professional AB (publ)

30/10/2020 07:13

Oct 30 (Reuters) - Electrolux Professional publ AB
 EPROb.ST :
    * ELECTROLUX PROFESSIONAL AB INTERIM REPORT Q3 2020
    * Q3 NET SALES AMOUNTED TO SEK 1,748M (2,190)
    * Q3 EBITA AMOUNTED TO SEK 96M (144), CORRESPONDING TO A
MARGIN OF
5.5% (6.6)
    * COVID-19 PANDEMIC CONTINUED TO IMPACT BUSINESS
    * DURING Q3 WE HAVE SEEN A RECOVERY AFTER SIGNIFICANT
NEGATIVE
IMPACT PANDEMIC HAD ON COMMERCIAL RESTAURANTS, HOTELS, PUBS AND
STAFF CANTEENS DURING Q2
    * WITH SALES GRADUALLY IMPROVING, TEMPORARY COST ACTIONS
HAVE
STARTED TO PHASE DOWN VERSUS PREVIOUS QUARTER
    * IN TOTAL, COST-SAVING MEASURES AMOUNTED TO APPROXIMATELY
SEK 75M
IN THE QUARTER.
    * COST REDUCTION ACTIONS HAVE COMPENSATED FOR HALF OF DROP
IN
SALES DUE TO PANDEMIC
    * ACTIONS PARTIALLY INCLUDE RECENTLY LAUNCHED STRUCTURAL
COST
SAVINGS OF SEK 130M

Source text for Eikon:  ID:nWkr6jJb4g 
Further company coverage:  EPROb.ST 

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