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