Electrolux announced that operating income in the fourth quarter of 2022 is estimated to be approximately SEK -2.0 billion (0.9), including non-recurring items of SEK -1.4 billion (-0.7). The year-over-year earnings decline was primarily a consequence of weaker consumer demand and inventory reductions at both retailers and Electrolux in combination with an elevated cost level. The main contributor to the weaker than expected earnings in the fourth quarter was performance in Business Area North America.

Net sales in the fourth quarter for the Group are estimated to be approximately SEK 36 billion, a decrease of about 8% organically. Operating income excluding non-recurring items is for the Group estimated to approximately SEK -0.6 billion compared to SEK 1.6 billion in the fourth quarter 2021. The main contributor to the earnings decline is Business Area North America with an operating loss excluding non-recurring items of approximately SEK 1.2 billion, similar to the result in the third quarter of 2022.