President and CEO Keith McLoughlin’s comments on the results for the first quarter of 2011
Focus on price Demand in most of Electrolux main markets showed good growth in the first quarter. In North America, profitability was pressed by increasing raw-material costs and continued pressure on prices. To mitigate cost increases in North America, we are raising prices during the second quarter.In the first quarter, the development in North America was characterized to a great extent by increasing raw-material costs at the same time as price pressure continued. One positive turn of events is that we are now increasing prices which will gradually take effect in the second quarter.