Electrolux profits slide after restructuring
The Local · 14 Feb 2006, 18:28
Published: 14 Feb 2006 18:28 GMT+01:00
Net profit dropped by 44.5 percent to 1.76 billion kronor from 3.25 billion kroner in 2004.
In 2005, Electrolux undertook major restructuring efforts which included the closure of a number of its plants in western Europe.
Without the restructuring costs, profit would have been 4.61 billion kronor, against 4.54 billion kronor.
In the fourth quarter alone, Electrolux posted a net loss of 440 million kronor, against a profit of 748 million in the fourth quarter of 2004.
Its quarterly pre-tax loss, at 237 million kronor, was still much smaller than had been expected by analysts, who had forecast a loss of 859 million kronor.
Despite the weaker results, Electrolux said it would pay a dividend of 7.50 kronor per share, against 7.00 in 2004.
It also said it would seek a separate stock market listing for its outdoor appliances, essentially for gardening, under the name of Husqvarna AB.