This article is based on a press release statement from Electrolux Group. Including non-recurring items, the operating loss for Electrolux Group is expected to reach approximately SEK -3.2 billion. Electrolux attributed the North American losses primarily to increased price competition and subdued demand during key sales periods, including Black Friday. Electrolux has been executing a Group-wide cost reduction and North American turnaround program, which has progressed well in the quarter. STOCKHOLM - Electrolux Group, a leading global appliance company, disclosed its preliminary financial results for the fourth quarter of 2023, revealing an estimated operating loss of approximately SEK -0.7 billion, excluding non-recurring items.
Electrolux Group reported an estimated operating loss of SEK -0.7 billion for Q4 2023, excluding non-recurring items, due to increased price competition and subdued demand in North America, particularly during Black Friday.