Electrolux Lehel: shrinking turnover, great expectations
Monday, February 21, 2005, 00:00
White goods manufacturer Electrolux Lehel Kft had nearly Ft 110 billion revenue last year, which compares with Ft 113.4 billion in 2003. The decline was due to lower demand in Western European markets, CEO János Takács said. The company sold 4.2 million household appliances in Hungary and abroad, while its profitability improved. 87% of the refrigerators, 95.6% of the freezers and 97% of the vacuum cleaners made in Electrolux plants in Hungary were exported. Since 1991, the company has spent more than Ft 50 billion on new developments, with the highest amount of Ft 14.5 billion spent last year. ?We are planning to manufacture and sell 5.2 million items this year, with revenue expectations of Ft 145 billion,? Takács said.