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BRIEF-Electrolux sees moderate market growth in North America, Europe 2017
December 9, 2016 / 7:13 AM / a year ago

BRIEF-Electrolux sees moderate market growth in North America, Europe 2017

Dec 9 (Reuters) - Electrolux

* Says appliance demand in North America has grown for almost four consecutive years. We expect continued stable development and forecast volume growth of 2-3% in 2017

* Says demand for appliances in Europe is expected to grow by about 1% in 2017.

* Market demand in Electrolux largest markets, Europe and North America, is expected to grow moderately

* Says Electrolux costs for raw materials are expected to increase by approximately SEK 900m in 2017 based on current market projections

* Says market demand has been positive in Europe in 2016, although there have recently been signs of softer demand in some markets, including UK.

* Says market demand in Argentina and Brazil together, is expected to decrease by approximately 5% in 2017.

* Says work to increase operational efficiency continues and net cost efficiency is planned to contribute positively with approximately SEK 1.6 bn for year, excluding impacts of raw materials and currency fluctuations

* Says group’s capital expenditure level is expected to amount to approximately sek 4 bn.

* Says for 2017, at current exchange rates, a negative transaction impact for group of SEK 250m is expected

* Says however, Electrolux expects a positive translation impact of SEK 250m Source text for Eikon: Further company coverage: (Stockholm Newsroom)

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