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Electrolux passes earnings milestone

Home appliances maker Electrolux-Lehel Kft passed the second magic milestone in 2007 by making Ft 201.1 billion in sales revenue, an 11% increase.

János Takács, head of the CEE holding of Swedish-headquartered Electrolux Group said the local arm reached the first marker of a Ft 100 billion revenue in 2003, after 12 years of operation in Hungary. Takács, as always, refrained from revealing profit figures. In 2007 Electrolux carried out investments totaling Ft 5.5 billion. The company has invested Ft 75.9 billion in Hungary so far. In 2006 and 2007 Electrolux paid Ft 768 million and Ft 871 million in local taxes, respectively. Central taxes amounted to 4.6 billion and Ft 5.35 billion in 2006 and 2007. Takács does not expect Electrolux Group to move production further towards East, to countries where both labor and production cost less. (Napi Gazdaság)