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Electrolux AB (ELUXb.ST)

ELUXb.ST on Stockholm Stock Exchange

9 Dec 2016
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7.70kr (+3.79%)
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Latest Key Developments (Source: Significant Developments)

Electrolux sees moderate market growth in North America, Europe 2017
Friday, 9 Dec 2016 02:00am EST 

Electrolux : Says appliance demand in North America has grown for almost four consecutive years. We expect continued stable development and forecast volume growth of 2-3% in 2017 . Says demand for appliances in Europe is expected to grow by about 1% in 2017. . Market demand in Electrolux largest markets, Europe and North America, is expected to grow moderately . Says Electrolux costs for raw materials are expected to increase by approximately SEK 900m in 2017 based on current market projections . Says market demand has been positive in Europe in 2016, although there have recently been signs of softer demand in some markets, including UK. . Says market demand in Argentina and Brazil together, is expected to decrease by approximately 5% in 2017. . Says work to increase operational efficiency continues and net cost efficiency is planned to contribute positively with approximately SEK 1.6 bn for year, excluding impacts of raw materials and currency fluctuations . Says group's capital expenditure level is expected to amount to approximately sek 4 bn. . Says for 2017, at current exchange rates, a negative transaction impact for group of SEK 250m is expected .Says however, Electrolux expects a positive translation impact of SEK 250m.  Full Article

Electrolux says to divest Eureka brand to Midea Group
Friday, 2 Dec 2016 09:00am EST 

Electrolux : Electrolux to divest Eureka brand, focus on strongest U.S. small appliances categories . Electrolux has agreed to divest its North American vacuum cleaner brand Eureka to Midea Group Co. . Says sales of products under eureka brand amounted to approximately USD 60 million over past 12 months . Says transaction is not expected to result in any material net one-off effects on group income statement .Says transaction is expected to close before year end.  Full Article

Electrolux ups boost from lower raw materials costs by SEK 150 mln
Friday, 28 Oct 2016 03:06am EDT 

Electrolux Ab : Electrolux sees positive fy2016 effect from lower raw materials costs of SEK 900 million versus previous forecast 750 million - pres. material . Electrolux sees 2016 FX effect of SEK -1.1 billion, unchanged from previous forecast - pres. material Further company coverage: [ELUXb.ST] (Stockholm Newsroom) ((stockholm.newsroom@thomsonreuters.com; +46 (0)8-700 10 10;)).  Full Article

Electrolux says lowers 2016 market outlook for North America
Friday, 28 Oct 2016 02:01am EDT 

Electrolux : Electrolux president and CEO Jonas Samuelson's comments on the results for the third quarter 2016 . Says we confirm our expectations of European market demand growth of 2-4 pct in 2016, however, likely in lower end of range . Says we now expect market demand for appliances in North America to grow by 3-4 pct in 2016 (prior forecast 4-5 pct) . Says market demand remained positive, although there are signs of weakening in some markets in Western Europe, including UK . Says private label sales in North America weakened, to a large extent driven by channel inventory reductions .Says North American market demand for core appliances was weak in first two months of quarter, followed by a strong September.  Full Article

Electrolux CEO sees no need to alter demand outlook
Monday, 12 Sep 2016 09:38am EDT 

Electrolux CEO to journalists on sidelines of media event: CEO says in general sees no need to significantly alter FY2016 market demand outlook . Says U.S. market has become more volatile . Says on WTO ruling related to U.S. anti-subsidy duties on Korean-made washing machines, will effect Electrolux relatively little due to small exposure . Electrolux CEO says raw material price impact forecast largely unchanged Further company coverage: [ELUXb.ST] ((niklas.pollard@thomsonreuters.com;)).  Full Article

Electrolux says UK construction industry cautious after Brexit
Wednesday, 20 Jul 2016 03:27am EDT 

Electrolux CEO Jonas Samuelson in Q2 earnings call: Says we have seen mainly the UK construction industry signalling they will be more cautious going forward . Says in terms of regular retail demand, we are not seeing as much of an impact at this stage Further company coverage: [ELUXb.ST] (Stockholm Newsroom) ((stockholm.newsroom@thomsonreuters.com; +46 (0)8-700 10 10;)).  Full Article

Electrolux sees bigger 2016 boost from lower raw material costs
Wednesday, 20 Jul 2016 03:11am EDT 

Electrolux AB : Sees positive raw material cost effect of around 750 mln SEK in 2016 (up from April view of around 700 mln) - presentation material . Says positive raw material cost effect impact seen slowing in Q4 - presentation material . Sees negative FX impact of 1.1 billion SEK in FY2016 based on July 11 FX rates (saw negative 1.3 bln in April)- presentation material .Sees negative FX impact of 125 mln SEK in Q3 - presentation material.  Full Article

Electrolux ups European market outlook, says UK demand uncertain
Wednesday, 20 Jul 2016 02:01am EDT 

Electrolux : Says we now expect European market demand to grow by 2-4 pct in 2016 . Co's April outlook was for Western European market to grow by 2-3 pct in 2016 and the market in Eastern Europe by approximately 2 pct . Says following brexit referendum, outlook for UK demand and British pound is uncertain . Says we expect market demand for appliances in North America to grow by 4-5 pct in 2016 (unchanged from April outlook) . Says we expect Latin American market to remain weak also in second half of 2016 .Says continued to gain market share in our focus categories and premium brands in EMEA.  Full Article

Electrolux Q2 operating profit tops forecast
Wednesday, 20 Jul 2016 02:00am EDT 

Electrolux : Q2 operating income increased to SEK 1,564m (921) . Says four of six business areas achieved an operating margin above 6% . Q2 net sales amounted to SEK 29,983m (31,355). . Organic sales declined by -0.9% .Reuters poll: Electrolux Q2 net sales were seen at 30.6 billion sek, EBIT at 1,522 million SEK.  Full Article

Electrolux buys Australian wine cabinet maker
Tuesday, 28 Jun 2016 02:05am EDT 

Electrolux Ab : Electrolux acquires wine cabinet company in asia pacific . Electrolux today announced it has agreed to acquire Vintec, an Australia and Singapore-based company which supplies a wide range of climate-controlled wine cabinets throughout the Asia Pacific region . With annual sales of more than AUD 22 million (approx. SEK 139 million), Vintec sells products under the market leading brands Vintec and Transtherm for both residential and professional customers . The transaction is expected to close in Q3, 2016 Further company coverage: [ELUXb.ST] (Reporting By Anna Ringstrom) ((Anna.Ringstrom@thomsonreuters.com;)).  Full Article

UPDATE 2-Electrolux sees slower demand after cost cuts boost Q3 profit

* Q3 op profit SEK 1.83 bln vs consensus 1.73 bln (Adds CEO comments, detail, share price)