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 Revises Profit Forecast
Sep 23, 2004
 Printable format
 Email this Article
 Search

Sweden-based appliance maker Electrolux AB reduced its profit forecast for the rest of the year citing rising steel prices.

The outlook for the company's earnings was unchanged in the half-yearly report 2004 with the addition of the risk that higher costs for steel could have an increasingly negative impact on income for the second half of the year.

The company said operating income for the second half of 2004 is expected to decrease an estimated SEK 500 million (approx. U.S. $68 million). In total, costs for materials and components are estimated to increase by approximately SEK 1,200 million (approx. $163 million) in the second half of the year.

"We are increasing our efforts to improve internal efficiency and achieve cost-savings, and are also implementing price increases," Electrolux chief executive Hans Straberg said. "The price increases on steel are of a magnitude we have not seen before and will also have to affect consumer prices."

According to the company, market demand in 2004 is expected to show some growth from the previous year in both Europe and North America while operating income for the full year 2004 is expected to be somewhat lower than in 2003, excluding items affecting comparability. The company also said there is a risk that the higher steel costs could have an increasingly negative impact on income for the second half of the year.

Back to Daily News

 

Daily News

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

Apr 24, 2014: BSH Annual Revenue Tops EUR 10 Billion for First Time

Apr 24, 2014: New Home Sales Show Sharp March Drop

Apr 24, 2014: Ingersoll Rand HVAC Segment Reports Strong 1Q

Apr 24, 2014: ASHRAE 2014 Annual Conference Announced For Seattle

Apr 23, 2014: Bosch Home Appliances Garners EPA Energy Star Partner of the Year - Sustained Excellence Award

More Daily News>>

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

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

March 2014: Market Research - 62nd Annual U.S. Appliance Industry Forecast
February 2014: Appliance Magazine Market Insight: December 2013
January 2014: Market Research - Appliance Historical Statistical Review: 1954-2012
January 2014: Appliance Magazine Market Insight: November 2013




 
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 | Pharmalive | Plastics Today | Powder Bulk Solids | Canon Trade Shows