Electrolux 2010 Annual Report Download - page 98
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Record results for 2010
The good performance confirms that we have the right strategy;
innovative products, investments in the Electrolux brand and cost
efficiencies are paying off.
Today, we present a year-end result for 2010 that is the best
ever for Electrolux in our current structure, and we have achieved
for the first time our operating margin target of 6% for the full year.
We have improved our product mix in North America by suc-
cessfully increasing sales under our own brands. At the same
time, we have consciously continued to phase out products with
lower profitability, mainly those under private labels.
In Europe as well, we have improved our product mix and we
have continued to increase sales within the very important built-in
segment for kitchen products. During the year, we also managed
to further improve our product quality and cost base. In 2011, we
will continue to introduce new premium products in the European
market.
The operations in Latin America succeeded in surpassing their
record result from 2009, thanks to a very strong fourth quarter. At
the end of 2010, several new products were introduced in the
Latin American market, which will further strengthen our position.
“We have achieved for the first time
our operating margin target of 6%
for a full year. ”
We are reporting a solid result for the fourth quarter 2010, and the full-year result for 2010 is the best
ever for Electrolux. We also succeeded in reaching our target operating margin of 6%. I am
extremely proud that all of our operations have improved their results in a market that continues to
be very competitive and in an environment with increasing costs for raw materials.
annual report 2010 | part 2 | ceo comments on the results
2