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Swedish home appliance maker Electrolux said today, that first quarter net income dropped to 361 million kronor ($ 54 million) on the back of weak demand in its biggest market, Europe.
Net income in the same business period a year ago was 499 million kronor.
Sales in the quarter slipped 2 per cent to 25.8 billion kronor.
The group said sales increased in other regions, including North America, Russia, Asia and the Pacific region, and Latin America.
Currency effects, including a stronger US dollar to the Brazilian real and a weaker British pound, also affected results.
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