Electrolux Group revised its 2026 forecast for volume, pricing and product mix to show no net effect after a SEK 340 million third-quarter loss and mounting cost pressure.
The Swedish appliance maker recorded net sales of SEK 33.919 billion for the three months through Sept. 30, up 5% from a year earlier. Organic sales growth eased to 3.5% from 4.6%, with all regions contributing. Net income shifted from a SEK 192 million profit a year earlier to a loss, although income after financial items was SEK 208 million. Electrolux said the timing of tax provisions accounted for most of the annual increase in income taxes.
Operating income excluding non-recurring items edged up to SEK 912 million from SEK 890 million, while its margin narrowed to 2.7% from 2.8%. Reuters reported that the result beat the SEK 867 million expected in a company-compiled analyst poll.
Reported operating income dropped to SEK 607 million from SEK 890 million. It included SEK 305 million in negative non-recurring items tied to the Midea Group partnership in North America and changes to the company’s organization and factory footprint. Electrolux said ending refrigerator production at its Anderson, South Carolina, plant contributed positively to third-quarter earnings. It also closed its Rosario, Argentina, factory during the quarter.
Efficiency measures added SEK 1.4 billion to operating income. Electrolux said that gain was partly absorbed by higher raw-material and logistics costs associated with the Middle East conflict, as well as U.S. tariffs, and expects such pressures to persist in coming quarters. The company said inflation concerns shifted North American demand toward lower-priced products as tariffs contributed to industry price increases. It also pointed to weaker consumer confidence in Europe and high interest rates affecting financing and household spending in Brazil.
Cash flow after investments reached SEK 3.608 billion, compared with SEK 624 million a year earlier. Electrolux cited improved working capital and U.S. tariff refunds as the main supports. Net debt to EBITDA improved to 2.2 times from 3.5 times.
For 2026, the company now expects sales volume, pricing and product mix together to have a flat effect on operating income, reversing its earlier positive outlook. Its expected full-year cost-efficiency contribution to operating income is about SEK 4 billion, after an earlier range of SEK 3.5 billion to SEK 4 billion. Electrolux’s year-end report is scheduled for Jan. 29, 2027.
