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Elextrolux Lehel revenue declines 8.8% in 2009

Electrolux Lehel, the Hungarian unit of Swedish white-goods maker Electrolux, generated revenue of HUF 177.5 billion (€658.42 million) in 2009, down 8.8% from 2008, unit managing director János Takács said on Tuesday.

Takács said Electrolux Lehel targets revenue of HUF 210 billion in 2010, noting that the unit entered the year without unpaid loans and with a stable stock of cash.

The Electrolux Lehel managing director noted that the unit spent HUF 4.5 billion on product development last year.

The director of Electrolux Lehel's domestic-sales division, Zsolt Belényesi, remarked that Hungary's large household-appliance market contracted 24% in volume terms and 16% in value terms last year, adding that the market's outlook has remained extremely uncertain in 2010. (MTI-Econews)