In 2023, the Group had sales of 45 billion SEK in Europe, equivalent to 34 % of total Group sales. Main brands in the region are Electrolux and AEG. The Group had approx. 16,400 employees in Europe.
The business area operates sales of all the Group’s product categories mainly through electrical and kitchen retailers and direct to consumers in all major European countries.
The five largest countries by sales are Germany, Switzerland, United Kingdom, Sweden and Italy. The business area’s headquarters is in Stockholm, Sweden.
The business area is organized in six commercial areas: Central, North, East, South, West & Switzerland. Production of major appliances are located in Poland, Italy, Hungary, Romania, Germany and Ukraine.
| Europe, key figures | ||
|---|---|---|
| SEKm | 2023 | 2022 |
| Net sales | 45,349 | 46,573 |
| Organic growth, % | –7.8 | –8.6 |
| Acquisitions, % | — | 0,1 |
| Divestments, % | –1.0 | –2.2 |
| Operating income | -1,602 | 683 |
| Operating margin, % | -3,5 | 1,5 |
| Operating margin excl. non-recurring items, % | 2,4 | 3,1 |
| Net assets | 3,783 | 5,768 |
| Return on net assets, % | -23,2 | 15,1 |
| Capital expenditure | 2,491 | 3 310 |
| Average number of employees | 16,393 | 18 250 |
Market characteristics & Electrolux Group position
Western Europe
- Western Europe is a fragmented market characterized by widely varying consumer needs between countries and many manufacturers, brands and retailers.
- The Electrolux Group is one of the largest players with leading positions in the Nordics, Switzerland and in Italy.
- The Group has strong positions in the targeted segments built-in kitchen and laundry.
Eastern Europe
- The penetration rate in Eastern Europe is still significantly lower than in Western Europe but a large market for replacement products is emerging.
- The market is mainly dominated by Western manufacturers.
- The Group holds a leading position in several markets.
