Q4 2022 Electrolux AB Earnings Call Transcript
Good morning, and a warm welcome to Electrolux Fourth Quarter 2022 Results Presentation. With me today, I have our CFO, Therese Friberg; and our Head of Investor Relations, Sophie Arnius. I would like to mention that this session is recorded and will be available on our website as an on-demand version.
So let's look at our performance in 2022. We're leaving a highly challenging year behind us that resulted in a significant drop in profitability and an organic sales decline. The decrease in organic sales was driven by lower volumes. Market demand declined in most of our markets compared to last year when demand was, in general, strong.
During the first half of the year, supply chain constraints limited the ability to fully meet the underlying demand while the increased general inflation, interest rates and geopolitical tension impacted consumer sentiment and purchasing power negatively during the second half.
The other main factor behind the large drop in earnings was significantly elevated cost levels. The supply chain constraints and irregular supply led to low planning
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