Electrolux Pro: More cautious than expected, shares fall

Electrolux Professional AB (publ)

24/07/2020 10:02

** Shares in Electrolux Professional  EPROb.ST  plummet 11%
after the commercial kitchen and laundry equipment maker
reported Q2 loss and its June-July trading was softer than
expected  urn:newsml:reuters.com:*:nL5N2EV18Z
    ** Electrolux Pro said that it saw signs of recovery, with
sales in the beginning of July in line with a 20% fall in June,
after a decline of 50% in April and May
    ** Comments on current trading are, however, on balance more
cautious than expected, Danske Bank analyst Björn Enarson says
    ** "No clear and continuous improvement in demand as other
companies have reported," the broker adds
    ** Electrolux Professional ran a second-quarter operating
loss of SEK 18 million ($2.03 million) versus a 401 million
profit a year ago
    ** The stock is one of the top losers on Stockholm all share
index  .OMXSPI  and on track for its worst day since market
debut in March



($1 = 8.8718 Swedish crowns)

 ((paulina.cwikowska@tr.com))