STOCKHOLM, April 26, 2024 /PRNewswire/ --  Highlights of the first quarter of 2024 Net sales amounted to SEK 31,077m (32,734). Organic sales decreased by 3.7% mainly driven by negative price. Weaker market demand resulted in lower volumes for the Group except in Latin America where increased consumer demand contributed to higher sales. Mix improved supported by the new modularized platforms and attractive product offering, despite the challenging market conditions. Operating income was SEK -720m (-256), corresponding to a margin of -2.3% (-0.8). Business area North America reported an operating loss of SEK 1,204m, mainly due to continued high price pressure. Business area Latin America continued to perform well. Previously implemented cost efficiency measures contributed positively to earnings by SEK 0.6bn. The new organization has been successfully implemented and expanded cost reduction measures are progressing according to plan. Earnings are expected to benefit from this mainly in the second half of 2024, as previously communicated. Income for the period amounted to SEK -1,230m (-588) and earnings per share were SEK -4.55 (-2.18). Operating cash flow after investments was SEK -2,686m (-5,092), reflecting a normal seasonal pattern. President and CEO Jonas Samuelson's comment "After having had the privilege to serve more than eight years as President & CEO of Electrolux Group, I have decided to leave my position on January 1, 2025. This is a good time to hand over to a successor who can put all energy into leading this great company into the next phase during the coming years. We have set a clear strategic direction with focus on the mid- and premium segments through our strong brands, new modularized product architectures, and focused, sustainable, and consumer experience driven innovation. The implementation of the new simplified and focused organization is on track, and we are delivering on our cost reductions. By announcing this already now I want to give the Board ample time to find the right successor, while I give my full dedication to the company during the rest of the year. During the first quarter of 2024, the new organization has been successfully implemented and operations are running according to plan. The new structure with three regional business areas and two global business lines, reporting directly ...