RPT-Electrolux sees slightly better demand in Europe as Q1 tops forecasts

Fri Apr 25, 2014 2:06am EDT

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STOCKHOLM, April 25 (Reuters) - World number two home appliances maker Electrolux said it saw slightly better demand this year in Europe on Friday after posting a small rise in first-quarter core earnings.

The Swedish firm, a smaller rival to Whirlpool which reports later in the day, said it expected demand in Europe to rise 1-3 percent this year against an earlier forecast of 0-2 percent growth. It also stuck by a forecast for demand in North America to grow 4 percent.

Electrolux, which sells under brands such as Frigidaire, AEG and Zanussi as well as its own name, said adjusted operating earnings rose to 749 million Swedish crowns ($113.87 million) from a year-ago 720 million to come in above a mean forecast of 541 million in a Reuters poll of analysts.

($1 = 6.5777 Swedish Crowns) (Reporting by Simon Johnson, editing by Mia Shanley)

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