UPDATE 1-Electrolux sees weak demand, falling sales volumes in 2023

Kitco Media
By Reuters
Published:
Updated:
Reuters
(Adds details) STOCKHOLM, Feb 2 (Reuters) - Sweden's Electrolux predicted on Thursday lower sales volumes in 2023 as it reported a fourth-quarter loss roughly in line with a profit warning earlier this month.


Europe's biggest appliances maker said it expected slowing demand this year in Europe, North America and Latin America, and unchanged demand for the Asia-Pacific, Middle East and Africa region.


"Looking into 2023, consumer sentiment is anticipated to continue to be negatively impacted by a high inflation and interest rate environment, although with regional differences," Chief Executive Jonas Samuelson said in a statement.


Electrolux on Thursday reported an operating loss of 1.96 billion crowns ($190.3 million) against a year-earlier profit of 882 million. The result included an earlier announced 1.5 billion crown restructuring charge.

($1 = 10.3017 Swedish crowns) (Reporting by Marie Mannes, editing by Anna Ringstrom)

Messaging: anna.ringstrom.thomsonreuters.com@reuters.net))
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