Finance
Electrolux tops profit estimates helped by improvement in North America
Published by Global Banking and Finance Review
Posted on January 30, 2025
1 min readLast updated: January 26, 2026
Global Banking and Finance Review
Company
Published by Global Banking and Finance Review
Posted on January 30, 2025
1 min readLast updated: January 26, 2026
Electrolux's Q4 2024 profit surpassed expectations due to North American growth, despite not paying dividends for the third year.
(Reuters) - Home appliance maker Electrolux posted a better-than-expected operating profit for the final quarter of 2024 on Thursday, boosted by an improvement in its troubled U.S. operations.
The Swedish group reported an operating profit excluding non-recurring items at 1.25 billion Swedish crowns ($113.6 million) for the fourth quarter, versus 1.22 billion crowns expected by analysts on average, an LSEG poll showed.
"In North America good momentum from our new products and improved productivity contributed to an improvement in operating income," CEO Yannick Fierling said in a statement.
However, Electrolux said it would not pay out a dividend for 2024, marking a third year in a row with no return to shareholders.
Intense competition from China's Midea and other lower-priced home appliance makers coupled with high inflation, which has left consumers cautious about spending, had squeezed Electrolux's earnings earlier in 2024.
($1 = 11.0038 Swedish crowns)
(Reporting by Boleslaw Lasocki in Gdansk; Editing by Milla Nissi)
Electrolux reported an operating profit of 1.25 billion Swedish crowns ($113.6 million) for the fourth quarter of 2024.
Electrolux announced it would not pay out a dividend for 2024, marking the third consecutive year without a return to shareholders.
CEO Yannick Fierling stated that good momentum from new products and improved productivity contributed to the improvement in operating income in North America.
Electrolux is facing intense competition from lower-priced home appliance makers like China's Midea, along with high inflation that has made consumers cautious about spending.
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