In Q1 20, organic sales decreased (-5% vs +1.9% in Q1 19) due to the COVID-19 pandemic that first impacted Asia-Pacific, then Europe and Latin America since mid-March 2020. In North America where organic sales plunged (-13%), Electrolux continued to be affected by capacity constraints and inefficiency at its new facility in Anderson. Operating income was tiny (0.5% of sales). Q2 20 should be worse with a deterioration in volume in many geographic areas and a significant operating loss.
07 May 2020
Impacted by COVID-19 and the US manufacturing reorganisation
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Impacted by COVID-19 and the US manufacturing reorganisation
Electrolux AB Class B (ELXC:FRA) | 0 0 (-0.4%) | Mkt Cap: 82,602m
- Published:
07 May 2020 -
Author:
Hélène Coumes -
Pages:
3
In Q1 20, organic sales decreased (-5% vs +1.9% in Q1 19) due to the COVID-19 pandemic that first impacted Asia-Pacific, then Europe and Latin America since mid-March 2020. In North America where organic sales plunged (-13%), Electrolux continued to be affected by capacity constraints and inefficiency at its new facility in Anderson. Operating income was tiny (0.5% of sales). Q2 20 should be worse with a deterioration in volume in many geographic areas and a significant operating loss.