Electrolux Pushed to Loss by Failed GE Deal Costs

By Christina Zander

STOCKHOLM--Swedish household appliance maker Electrolux AB (ELUX-B.SK) said Thursday that it swung to a fourth-quarter loss after booking costs related to a failed attempt to buy General Electric Co.'s (GE) appliance business.

Europe's largest appliance maker by sales posted a net loss for the three months to Dec. 31 of 393 million Swedish kronor ($46.2 million), compared with a net profit of SEK970 million kronor in the same period last year, due to charges of SEK1.66 billion related to the failed GE Appliances acquisition. Analysts polled by FactSet expected a net loss of SEK483 million.

Sales in the quarter were SEK31.79 billion, up from SEK31.40 billion, while it posted an operating loss of SEK202 million, compared with a profit of SEK1.40 billion in the same period last year.

The board proposed a dividend of SEK6.50 a share, unchanged from 2014.

The company's shares closed at SEK180 on Wednesday.

Write to Christina Zander at christina.zander@wsj.com

(END) Dow Jones Newswires

January 28, 2016 02:43 ET (07:43 GMT)

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