STOCKHOLM–Net income for Electrolux increased 54 percent in the second quarter, totaling $131.1 million.
The global appliance manufacturer managed to improve its profit thanks to reduced production costs, a 2.8 percent rise in net sales to $3.5 billion and increased profitability from all of its business areas, according to a statement from Hans Straberg, president and chief executive officer. Straberg cited Electrolux’s North American operation, which registered increased sales and greater market share under both the Electrolux and Frigidaire brands. The U.S. government’s rebate program to stimulate energy-efficient appliance purchases was a key factor in the results from this area, he said.
Electrolux’s operations in the Latin America and Asia-Pacific regions, and in its Professional Products segment, nearly doubled their income compared with the second quarter of 2009, Straberg said.