President and CEO Keith McLoughlin’s comments on the results for the first quarter 2015.

Margins in Europe continue to improve
Results in Major Appliances EMEA continued to strengthen and the EBIT margin
improved to 4.3% in the first quarter of 2015 compared to 1.8% a year ago.
Earnings in Major Appliances Asia/Pacific and Professional Products also
increased. As previously communicated, the operating income for Major Appliances
North America was negative for the first quarter, mainly due to the challenges
within refrigeration and freezers following new energy requirements. Operations
in Latin America continued to perform well in a weakening market environment.
The Group’s operating income amounted to SEK 516 million for the first quarter
of 2015.

A strong product mix, with focus on high-margin categories such as built-in
kitchen products, contributed to a positive organic growth in Major Appliances
EMEA. In parallel, the cost-savings programs previously initiated impacted
earnings positively. Overall market demand in Europe stabilized and increased by
1% in the quarter. The UK and Germany showed particular strength, while the
Russian market declined sharply. Excluding Russia, the market grew by 4%. The
European market for appliances is expected to grow by 1–2% in 2015.

Electrolux operations in North America continued to be negatively impacted by
the transition of the product ranges within refrigeration and freezers. This
transition is a consequence of the new energy requirements imposed during the
second half of 2014. Earnings were also affected by the ramp up of the cooking
plant in Memphis, which has been slower than anticipated. A program to restore
profitability and increase efficiencies in production is under way. It will
require most of 2015 before actions taken will show full effect. We expect full
-year market growth in North America to be towards the lower end of the
previously communicated range of 3-5%.

The market environment in Latin America has been challenging. Demand for
appliances deteriorated in the quarter, which also affected our sales volumes.
However, continued price increases in combination with cost savings largely
mitigated the deterioration in the market. Although the quarterly results were
weaker compared with a year ago, our organization in Latin America has been well
prepared to take timely actions. The macro-economic outlook for the region has
weakened in the past few months, particularly for Brazil, and market growth for
appliances remains uncertain.

Earnings in Asia/Pacific improved, driven by higher sales volumes in Southeast
Asia and Australia, and increased cost efficiency. The integration of the
recently acquired business BeefEater, an Australian barbecue producer, has
proceeded well.

In 2015, Electrolux is continuing to launch new product ranges with innovative
features and designs, with the goal of being at the forefront in the market for
appliances. Furthermore, work to strengthen cost efficiency through a higher
degree of common platforms and through modularization in production flows is
proceeding well. These are important areas for future profitable growth for
Electrolux.

The preparation work for the integration of GE Appliances is progressing well
and according to plan. In addition to synergies of USD 300 million that were
initially communicated, we have identified further synergies of USD 50 million,
mainly within purchasing. We anticipate that a closure of the acquisition will
be completed during the year. The acquisition is expected to strongly contribute
to the achievement of the Electrolux vision of being the best appliance company
in the world as measured by our customers, employees and shareholders.

Stockholm, April 24, 2015

Keith McLoughlin

President and CEO
For further information, please contact:

Catarina Ihre, Vice President Investor Relations at +46 (0)8 738 60 87

Electrolux Press Hotline, +46 8 657 65 07.

Electrolux discloses the information provided herein pursuant to the Securities
Market Act and/or the Financial Instruments Trading Act. The information was
submitted for publication at 08.00 CET on April 24, 2015
Electrolux is a global leader in home appliances, based on deep consumer insight
and developed in close collaboration with professional users. We offer
thoughtfully designed, innovative solutions for households and businesses, with
products such as refrigerators, dishwashers, washing machines, cookers, vacuum
cleaners, air conditioners and small domestic appliances. Under esteemed brands
including Electrolux, AEG, Zanussi, Frigidaire and Electrolux Grand Cuisine, the
Group sells more than 50 million products to customers in more than 150 markets
every year. In 2014, Electrolux had sales of SEK 112 billion and 60,000
employees. For more information go to www.electroluxgroup.com.