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A washing machine factory tests Italy's industrial future

By Danilo Masoni and Francesca Piscioneri PORCIA, Italy (Reuters) - The boxy white and grey factory of this rainy northern town makes fewer than half the washing machines it did when Italy joined the euro. It is one of the many symbols of Southern Europe's industrial decline. Today, however, the Porcia plant is also a testing ground for the region's industrial future.

Electrolux takes Q3 earnings hit on weak sales in European market, currency fluctuation

STOCKHOLM - Home appliance manufacturer Electrolux says third quarter earnings fell 29 per cent due to currency weakness in several key markets and a continuing fall in core European sales. Earnings for the three-month period amounted to 656 million kronor ($104 million), down from 923 million for the same period last year. Net sales for the quarter were essentially flat year-on-year at 27.3 billion kronor ($4.3 billion). The company says shifting currency values shaved 4.6 per cent of sales.

Electrolux axeing jobs in fresh cost cuts after profit miss

By Mia Shanley and Johannes Hellstrom STOCKHOLM (Reuters) - Swedish home appliances company Electrolux <ELUXb.ST> announced 2,000 job losses and launched a new round of cost cuts to counter tough market conditions in Europe after posting a bigger than expected fall in third-quarter earnings on Friday.

Whirlpool raises full-year forecast as appliance sales rise

(Reuters) - Whirlpool Corp <WHR.N> raised its full-year earnings forecast after strong sales of its home appliances in Europe and North America helped the company to more than double its quarterly profit. Shares of Whirlpool, the world's largest home appliance maker, were up 4 percent before the bell. The company said it expected to earn $9.90 to $10.10 per share, excluding items, for the full year, compared with an earlier forecast of $9.50 to $10.00.

Electrolux temporarily closes Egypt plants

Swedish home appliance maker Electrolux said Thursday it was temporarily closing its factories in Egypt due to the violence in the country. "We're temporarily shutting our plants in and around Cairo. The decision was taken yesterday (Wednesday) and today (Thursday). We'll meet this weekend to discuss it," company spokesman Daniel Frykholm told AFP. "We feel we have to evaluate the security situation," he added. Electrolux employs around 6,700 people in Egypt.

Whirlpool profit surges as sales rebound, shares jump

By James B. Kelleher CHICAGO (Reuters) - Whirlpool Corp <WHR.N> posted a stronger-than-expected jump in quarterly profit and raised its full-year outlook on Friday, citing sales gains in all of its markets, including Europe and North America. The results suggested U.S. and euro zone consumer confidence may be turning the corner after being battered by debt crises and austerity measures in Europe and a weak economic recovery and high unemployment in the United States.

Appliance maker Electrolux sees Q2 earnings fall 8 per cent on flat sales

STOCKHOLM - Home appliance manufacturer Electrolux says second quarter earnings fell 8 per cent on continued economic weakness in Europe and unfavourable currency fluctuations. The company says earnings for the period amounted to 642 million kronor (98 million), while sales were flat at 26.7 billion kronor ($4 billion). Electrolux said Friday that organic sales growth was up nearly 6 per cent for the quarter though currency fluctuations ultimately had a negative impact of 6.2 per cent.

Electrolux profits slide in weak European climate

Electrolux, a leading maker of household appliances, reported on Thursday a 28-percent drop in net profit in the first quarter owing to the weak business climate in Europe and a strong krona. The Swedish company posted a net profit of 361 million kronor (42 million euros, $55 million) in the January to March period, while sales dipped by 2.0 percent to 25 billion. Those figures came in below the forecasts of analysts surveyed by Down Jones Newswires, who had predicted an average net profit of 519 million and sales of 26 billion.

Electrolux CEO sees no recovery in Europe market first half 2013

STOCKHOLM (Reuters) - Electrolux <ELUXb.ST> does not expect the European appliances market to recover in the first half of 2013, but hopes positive signs in North America will start spreading to Europe in the second half, its chief executive told Reuters on Thursday. "I would said that we don't expect recovery in the first half," Chief Executive Keith McLoughlin said, adding that when the U.S. market starts to recover, Europe is typically "not that far behind".

Electrolux reports profit boost from emerging markets

Electrolux, a leading maker of household appliances, reported on Friday a 26.0-percent leap in net profit for 2012 owing to strong performance in emerging economies and in North America. In 2012, the group made a net profit of 2.596 billion Swedish kronor (300 million euros, $409 million). In October and November, on a 12-month basis, net profit rose by 32.0 percent to 291 million kronor but this was far below the average figure forecast by analysts polled by Dow Jones Newswires who had expected 394.6 million kronor.
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