Electrolux, hard European market is disappointed as a major profit as Q2

(Removes references to the Volta brand in paragraph 2)

By greta rosen fundn

Stockholm (Reuters) -Home Tools Manufacturer Electrolux, due to weak demand in Europe, sends 16% to the main profit of the second quarter on Friday.

The operating profit in the Swedish team, which includes brands, as well as Frangiaire and Aeg, along with the North American case, was 797 million crowns ($ 82 million). Compared with the crown of 419 million a year ago.

In India, the sale of a crown winning a crown of 180 million crowns from the sale of a trademark, 710 million crown forecasted in a survey given by electrolux.

Electrolux said the main brands continue to be superior to Europe, but the increase in the total market has decreased by competition pressure.

“Europe was an extremely harsh market in the second quarter. We have seen very aggressive price levels in Europe,” Jeo Yannick spoke to analysts and journalists during a violent call. “The market in Europe … was particularly depressed and difficult.”

Until the end of the era, it was still long to say that it will continue to improve an improvement in the European market, it will continue in the third quarter.

CFO Therese Friberg said that the improvement was in the volume, while price pressure remained.

Shares in Electrolux falls by 16% to 1030 GMT, and from year to year and 34%.

Electrolux said that the demand in both Europe and North America has been affected by uncertainty due to geopolitical developments in the demand and continues to move to cheaper products with households.

The company, China’s MIDE and the United States company’s company, Neutral Neutral for North America and protected the “neutral” worldview for European and Asian-Pacific markets and Latin America.

Offset tariffs

Analysts in JPM, which is a “neutral” position in Electrolux, said there are inconvenient signs of a record-in profits, Europe and high propaganda activities and high-promotional activities and competitive pressure.

The North American case of Electrolux has made a greater market, which has been fighting for the oversight of the North American, but for years, and the larger market in the region.

The section, which was a third of the sale of the group last year, won 57 million crowns.

Electrolux, Washington’s tariff plans in April hit consumer feelings and lowers the North American market and aims to increase tariff growth with more price increases.

Severe, he said that the decision was that the decision was allowed the company to understand the impact of tariffs and continues the strategy.

“We repeat our goal of understanding the price increase in tariff price increase in North America.”

Severe to Reuters said that the higher tariffs are waiting for the purchase effect.

Electrolux produces most of the goods sold in North America in the region, both in the United States and Mexico. Imported some components and products including China.

($ 1 = 9.7272 Swedish crown)

(Notification by Greta Rosen Fondahn; Anna Ringstrom, Joe Bavier and Susan Fenton adjusted)