Home
Global Supplier Directory
APPLIANCE Engineer
Supplier Solutions
APPLIANCE Line
Whitepaper Library
Calendar of Events
Association Locator
Contents Pages
Market Research
Subscription Center


 
Daily News

Electrolux's McLoughlin Comments on Results
Apr 29, 2011
 Printable format
 Email this Article
 Search

Electrolux President and CEO Keith McLoughlin commented on Electrolux's results for the first quarter of 2011, noting that there was good growth in demand in most of the company's primary markets during the first quarter of 2011.

See these results in yesterday's ApplianceMagazine.com news item.

"In North America, profitability was pressed by increasing raw-material costs and continued pressure on prices," McLoughlin said. To help mitigate raw materials cost increases in North America, the company intends to gradually implement price increases on some appliances during the second quarter. "The stable demand in the North American market has supported the implementation of price increases," McLoughlin said.

McLoughlin said demand in Europe market also demonstrated stable development during 1Q 2011, and this market will also require price increases to offset the surge in raw materials costs. "It will, however, take time before the price increases will give effect," McLoughlin cautioned. "We hope to see the positive effects in the second half of 2011."

McLoughlin said Electrolux was continuing to launch innovative products under the AEG brand. "The new products are an important part of our work to regain market shares, and at the same time strengthen our product mix."

McLoughlin said raw materials costs, particularly plastics, keep going up, and the company expects to pay about SEK 2 billion (approx. US$330 million) more for raw materials in 2011 than it did in 2010.

"Our ambition is to gradually compensate for the increase in costs through price increases, improvements in product mix and cost savings," McLoughlin said.

Growth Potential in Floor Care and Small Appliances

McLoughlin pointed out that Electrolux is now reporting results for floor care appliances and for small domestic appliances as separate business segments. "The change is due to the good development of these operations, which today make up a significant part of the Group’s sales and profit," McLoughlin said.

Growth Potential in Emerging Markets

Electrolux business in emerging markets grew 10% in the first quarter of 2011. "The focus is to continue taking advantage of the organic growth in fast-growing markets and as a complement grow with profitable acquisitions," McLoughlin said.

Back to Daily News

 

Daily News

...........................................................

Nov 21, 2014: Electrolux: new U.S. fridge efficiency requirements are more complex than anticipated

Nov 21, 2014: Whirlpool brand launches Perceptions of Care video

Nov 21, 2014: Hon Hai 3Q profit $1 billion

Nov 21, 2014: Environmental Product Declarations for aluminum product types released

Nov 20, 2014: Report: Drop in affluents' consumer confidence may foretell signal trouble ahead for some retailers

More Daily News>>

RSS Feeds
.........................................................
Appliance Industry
Market Research

...........................................................

November 2014: U.S. Appliance Industry: Market Value, Life Expectancy & Replacement Picture 2014
October 2014: Portrait of the European Appliance Industry
September 2014: Appliance Industry Focus: HVAC
June 2014: Appliance Magazine Market Insight: April 2014




 
Contact Us | About Us | Subscriptions | Advertising | Home
UBM Canon © 2014  

Please visit these other UBM Canon sites

UBM Canon Corporate | Design News | Test & Measurement World | Packaging Digest | EDN | Qmed | Plastics Today | Powder Bulk Solids | Canon Trade Shows