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Electrolux Q4 profit falls 32.9% YOY

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Electrolux Q4 profit falls 32.9% YOY

AB Electrolux said its fourth-quarter normalized net income amounted to 3.68 Swedish kronor per share, compared with the S&P Capital IQ consensus estimate of 3.29 kronor per share.

EPS decreased 32.6% year over year from 5.46 kronor.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.06 billion kronor, a decline of 32.9% from 1.58 billion kronor in the year-earlier period.

The normalized profit margin fell to 3.3% from 5.0% in the year-earlier period.

Total revenue grew on an annual basis to 31.79 billion kronor from 31.40 billion kronor, and total operating expenses climbed on an annual basis to 29.90 billion kronor from 28.87 billion kronor.

Reported net income totaled a loss of 395.3 million kronor, or a loss of 1.38 kronor per share, compared to income of 968.9 million kronor, or 3.36 kronor per share, in the prior-year period.

For the year, the company's normalized net income totaled 9.34 kronor per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 9.70 kronor.

EPS rose from 9.17 kronor in the prior year.

Normalized net income was 2.70 billion kronor, a gain from 2.64 billion kronor in the prior year.

Full-year total revenue rose 10.1% from the prior-year period to 123.51 billion kronor from 112.14 billion kronor, and total operating expenses rose 10.5% on an annual basis to 118.67 billion kronor from 107.43 billion kronor.

The company said reported net income declined 30.2% on an annual basis to 1.57 billion kronor, or 5.42 kronor per share, in the full year, from 2.24 billion kronor, or 7.78 kronor per share.

As of March 2, US$1 was equivalent to 8.64 Swedish kronor.