Swedish appliance maker Electrolux on Thursday said that its net loss narrowed in 2024 as it curtailed costs and revenue rose slightly.
But it warned that the outlook for 2025 is clouded by concern over US President Donald Trump’s trade policies.
Net profit narrowed to 1.4 billion kronor ($127 million) last year from 5.3 billion the previous year, while sales gained one percent to 136.1 billion, with a pick-up at the end of the year.
“In the fourth quarter, we continued to make good progress on our cost reduction initiatives, and the group’s attractive product offering contributed to an organic growth of 11.5 percent,” chief executive Yannick Fierling, who took over the role on January 1, said in a statement.
Prices for appliances have been under pressure in both the United States and Europe for several semesters.
“Looking at 2025, there is an uncertainty stemming from potential impact on demand for home appliances from possible new trade policies in North America,” Fierling said.
“In Europe demand has started to stabilize, but there is a time-lag before lower interest rates and potential improvements in disposable income.”