North America

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Strong North America, Weak Europe

Supported by a gradual recovery in the market, the Electrolux North American appliance business generated strong sales and earnings growth. Results in Latin America, Europe and Small Appliances were all impacted by negative currency movements. Operations in Latin America and Asia presented yet another quarter of solid sales growth. In Europe, however, all of our operations continued to suffer from weak consumer confidence, resulting in falling volumes and negative price and mix development.

“Trelleborg noted a strong first quarter despite weaker market conditions. Once again, the Group displayed strength and stability in the face of a volatile market. The operating margin continued to develop positively, as did the working capital.