Commercial kitchen and laundry equipment maker Electrolux Professional said today it had swung to profit in the second quarter as the market continued to recover, particularly in Europe and the US.
Operating profit at the Swedish group, a supplier to the hospitality industry that has been hard hit by the pandemic and government measures to stop it, was 181 million crowns ($20.8m) compared to a loss of 18 million a year earlier.
Second quarter sales were up 32%.
"As more and more people are vaccinated and restrictions are lifted, we can see that people start to socialise again which supports the comeback of the hospitality industry. This gives reason for optimism," chief executive Alberto Zanata said.
"Whereas we cannot ignore the risk for new pandemic setbacks, we remain confident given that we have demonstrated that our company is strong and able to navigate also in turbulent times," he added.
Electrolux Professional was listed in March 2020 after being spun off from home appliance maker Electrolux.