The Swedish group said organic sales fell 8% as sales volumes shrank significantly due to continued weak demand.
"The weak market demand environment, with lower consumer purchasing power resulting in more consumers shifting to lower price points, continued also in the second quarter," CEO Jonas Samuelson said in a statement.
"Lower residential construction and remodeling activity caused significantly weaker demand within the built-in kitchen category, mainly impacting us in Europe," he said.
Electrolux said in a separate statement it had started preparations for a potential divestment of Zanussi and other non-core brands in the coming years.
The group estimated the total potential divestment value for all these assets combined to be about 10 billion crowns.
Johan Eliason from Kepler Cheuvreux said in a note that achieving the price sounded like a good deal, but it appeared to be in line with the price paid for the assets historically.
Electrolux reported a second-quarter operating loss of 124 million crowns ($12.1 million) with JP Morgan pointing out that overall, the group's results came in weaker than expected.
The stock is down 15%, set for its worst day in 12 years.
($1 = 10.2438 Swedish crowns)
