Electrolux Pro Q1 profit drops sharply amid impact from pandemic

Electrolux Professional AB (publ)

06/05/2020 07:18

STOCKHOLM, May 6 (Reuters) - Commercial kitchen and laundry
equipment maker Electrolux Professional  EPROb.ST  reported a
steep drop in quarterly sales and profits on Wednesday hit by
the COVID-19 pandemic and its impact on important customer
groups such as hotels and restaurants.
    The company, which was listed in March after being spun off
from home appliance maker Electrolux  ELUXb.ST , said its
first-quarter operating profit dropped to 205 million Swedish
crowns  ($20.88  million) from 301 million a year earlier. 
    Sales fell to 2.09 billion crowns from 2.30 billion in the
year-earlier quarter, down 13.7% organically.

($1 = 9.8175 Swedish crowns)

 (Reporting by Johannes Hellstrom, editing by Helena Soderpalm)
 ((johannes.hellstrom@thomsonreuters.com; +46850242388; Reuters
Messaging: johannes.hellstrom.reuters.com@reuters.net))