Electrolux President and CEO Jonas Samuelson’s comments on the results for the first quarter 2016

Good earnings development in the quarter
Electrolux operating income of SEK 1,268 million for the first quarter 2016 more
than doubled compared to the first quarter the previous year. Major Appliances
EMEA continued the positive trend and delivered an operating margin over 6% for
the quarter and the last 12 months. Major Appliances North America achieved a
significant turnaround compared with the weak first quarter 2015. Furthermore,
the earnings trend in Professional Products remained positive and operating
income in Asia/Pacific and Small Appliances also improved. The performance in
the important Latin America region continued to be impacted by a weak market and
currency environment.

The appliance market continued to grow in Western Europe and was particularly
strong in Italy, Germany and the UK. Most markets in Eastern Europe also grew.
Russia appears to have stabilized at low levels following the significant
downturn in 2015. Electrolux gained market share in the focus segments premium
branded built-in kitchen and laundry. Organic growth of 7%, driven by higher
volumes and improved mix, together with strong focus on cost efficiency,
contributed positively. We confirm our expectations for market demand growth and
forecast the Western European market to grow by 2-3% in 2016 and the market in
Eastern Europe by approximately 2%.

Our operations in North America continued to recover and operating income
increased significantly year-over-year. Revenue growth of 6% and improved cost
efficiency contributed to the results. The work to stabilize and increase
efficiency in the cooking plant in Memphis is making progress according to plan.
Volume growth in the US market for appliances has remained healthy and increased
by 8% in the first quarter. We now expect market demand for appliances to grow
by 4-5% in 2016.

The financial performance in Major Appliances Latin America continued to be
affected by the weak market situation and unfavorable currency rates. Market
demand for appliances in Latin America in general weakened significantly year
-over-year in most markets. As a consequence, Electrolux sales volumes decreased
in the quarter while market shares were stable. To mitigate these market
conditions and currency headwinds, we continued to reduce structural costs and
also increased prices. We expect the Latin American market, mainly Brazil, to
remain weak in 2016.

In Asia/Pacific, operating income increased following a good development in
Australia, New Zealand and Southeast Asia. Earnings were also positively
impacted by the repositioning and reduced sales activities in China. This work
will continue. Small Appliances benefited from cost reductions and improved
sales in more profitable categories and markets. Professional Products continued
the profitable growth trajectory in both Laundry Systems and Food Service.

The focus on increasing the operating margin of the Group will continue
throughout the year, with emphasis on product cost efficiency leveraging
initiatives including modularization and automation, and launches of innovative
premium products delivering great consumer experiences. The strong efforts to
improve financial results in the challenging Latin America region, as well as
the refocus of the Small Appliances business area will also have continued high
priority.

Stockholm, April 28, 2016

Jonas Samuelson

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 28, 2016.
Electrolux is a global leader in home appliances and appliances for professional
use, based on deep consumer insight. We offer thoughtfully designed, innovative
and sustainable solutions, developed in close collaboration with professional
users. The products include refrigerators, ovens, cookers, hobs, dishwashers,
washing machines, 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 60 million products to
customers in more than 150 markets every year. In 2015, Electrolux had sales of
SEK 124 billion and 58,000 employees. For more information go to
www.electroluxgroup.com