In 2023, the Group had sales of 29 billion SEK in the region, equivalent to 21 % of total Group sales. Main brands in the region are Electrolux, Fensa, Frigidaire, Continental, Gafa and Mademsa. The Group had approx. 8,500 employees in Latin America.
The business area operates sales of all the Group’s product categories mainly through electrical and kitchen retailers and direct to consumers. The five largest countries by sales are Brazil, Argentina, Chile, Colombia and Equador.
The business area’s headquarters is in Sao Paulo, Brazil.
Production units are located in Curitiba, Manaus and Sao Carlos in Brazil, Rosario in Argentina and Santiago in Chile.
| Latin America, key figures | ||
|---|---|---|
| SEKm | 2023 | 2022 |
| Net sales | 28 920 | 24,303 |
| Organic growth, % | 15,2 | 4,2 |
| Operating income | 1,624 | 1,058 |
| Operating margin, % | 5,6 | 4,4 |
| Operating margin excl. non-recurring items, % | 5,8 | 4,7 |
| Net assets | 7,841 | 8,724 |
| Return on net assets, % | 18,6 | 13,1 |
| Capital expenditure | 699 | 979 |
| Average number of employees | 8,459 | 9,571 |
Market characteristics & Electrolux Group position
- Brazil is the largest appliance market in the region, dominated by a few major manufacturers.
- Market penetration for built-in products and air-conditioners remains low but increases.
- Consumers in the region show an increasing interest for energy and water efficiency and other sustainability related topics.
- The Group is a leading player in Brazil, and holds strong positions in Chile and Argentina, with Electrolux brand leadership in several key categories.
