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Sweden Herald - Latest Sweden News | Electrolux posts lower revenues, announces new share issue by Sweden Herald

AI generated summary, Read the full article for complete information.

Financially strained Electrolux announced that shareholders, led by its largest owner Investor, will inject SEK 9 billion to reduce its debt‑laden balance sheet while the company simultaneously launches major cost‑saving measures that will see several thousand employees laid off. The appliance maker posted a modest adjusted Q1 profit of SEK 198 million but still recorded a near‑SEK 1 billion loss in its North American division, and overall revenue slipped to SEK 29.5 billion from SEK 32.5 billion a year earlier. As part of the financing package, Electrolux also revealed a partnership with China’s Midea Group for its North American operations.

Read more: https://swedenherald.com/article/electrolux-posts-lower-revenues-announces-new-share-issue

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AI generated summary, Read the full article for complete information.

Pressured Electrolux asks owners for SEK 9 billion

Financially pressured Electrolux is paying out 9 billion kronor to shareholders at the same time as major savings packages are launched

Sweden Herald