Electrolux reduced net income by 34% in 2018

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The net profit of Electrolux, the Swedish home appliance manufacturing company, declined by one third in 2018. Profit declined to $422 million, or SEK 3.805 billion. Diluted earnings declined to SEK 13.14 per share from SEK 19.88 a year earlier. The company's revenue increased by 2.8% year-on-year to $13.8 billion or SEK 124.129 billion. In the fourth quarter, Electrolux reduced earnings by 21.3% to SEK 1.575 billion or $175 million. Quarterly earnings per share fell to SEK 5.45 against SEK 6.92 in 2017. Quarterly revenue growth was 5.7%. In Europe, the demand for Electrolux products increased by 2% for the year. In the US, demand fell by 1%. A decrease in demand was noted in Brazil and Argentina, increase - in Chile. Electrolux is one of the leading manufacturers of household appliances in the world. The company produces 60 million products annually for consumers in 150 countries.

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