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Electrolux AB (ELUXb.ST)

ELUXb.ST on Stockholm Stock Exchange

267.70SEK
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Latest Key Developments (Source: Significant Developments)

Electrolux maintains 2017 market outlook, raw materials guidance
Friday, 27 Oct 2017 02:07am EDT 

Oct 27 (Reuters) - Electrolux :ELECTROLUX PRESIDENT AND CEO JONAS SAMUELSON'S COMMENTS ON THE RESULTS FOR THE THIRD QUARTER 2017.SAYS ‍WE EXPECT TOTAL EUROPEAN MARKET TO BE POSITIVE AND RECONFIRM OUR OUTLOOK OF AROUND 1% GROWTH IN 2017​.SAYS ‍WE CONFIRM OUR FULL YEAR GROWTH OUTLOOK TO BE ABOUT 3-4% FOR NORTH AMERICAN MARKET​.SAYS ‍WE RECONFIRM EXPECTED NEGATIVE IMPACT FROM RAW-MATERIAL COSTS TO BE AROUND SEK 1.4 BILLION FOR FULL YEAR​.SAYS ‍WE EXPECT A SLIGHTLY POSITIVE ORGANIC CONTRIBUTION IN Q4 WITH VOLUME/MIX OFFSETTING CONTINUED NEGATIVE PRICE PRESSURE​.SAYS ‍WE HAVE DURING Q3 FURTHER ACCELERATED OUR EFFICIENCY MEASURES AND NOW EXPECT TO DELIVER A NET COST EFFICIENCY OF AROUND SEK 3 BILLION FOR FULL YEAR OF 2017​.SAYS ‍PACE OF NET COST REDUCTIONS WILL BE LOWER IN Q4 THAN IN Q3 AS SOME PLANNED MARKET LAUNCH ACTIVITIES IN NORTH AMERICA WERE SHIFTED INTO Q4​.SAYS ‍LATIN AMERICA DELIVERED ORGANIC SALES GROWTH FOR FIRST TIME SINCE Q2 OF 2015​.  Full Article

Electrolux acquires Continental brand in Latin America
Monday, 23 Oct 2017 02:09am EDT 

Oct 23 (Reuters) - Electrolux Ab :Electrolux says ‍Brazilian court administering bankruptcy of Mabe Brazil has accepted a 70 million Brazilian real (SEK 178 mln) bid to acquire intellectual property assets of estate​.  Full Article

Electrolux raises North American market outlook
Wednesday, 19 Jul 2017 02:01am EDT 

July 19 (Reuters) - Electrolux :Electrolux President and CEO Jonas Samuelson's comments on the results for the second quarter 2017.Says we expect total European market to be positive and confirm our outlook of around 1% growth in 2017..Says we increase our outlook for North American market and now expect market to grow by 3-4% in 2017 vs pvs forecast 2-3%.Says with a good trend during first half of year, market for appliances in North America remains strong and we see favorable macro environment continuing to support demand.Says ‍we expect organic sales contribution from volume, price and mix for full year to be slightly positive​.Says market volumes in Brazil, Argentina and Chile improved slightly but macro and political uncertainty in Brazil remains.Says ‍our efforts to drive cost efficiency continue and we now expect to deliver a net cost efficiency of SEK 2.3 bln for full year of 2017​.Says ‍we confirm our expected negative impact from raw-material costs of SEK 1.4 bln for full year​.  Full Article

Electrolux to buy kitchen hoods maker Best
Friday, 7 Jul 2017 02:00am EDT 

July 7 (Reuters) - Electrolux :Electrolux to acquire European kitchen hoods company Best.Says Best had net sales in 2016 of eur 42 million (around sek 400 million) and 450 employees.Says acquisition is subject to regulatory approvals and is expected to be completed during Q3 of 2017.Acquired company is part of Broan-NuTone, LLC, a North American manufacturer and distributor of residential ventilation products.  Full Article

Electrolux CEO eyes raw materials headwind next year
Friday, 28 Oct 2016 03:30am EDT 

Electrolux AB in Q3 news conference : CEO says if current raw material prices remain, these seen turning into headwind in 2017 . CEO says we have a stronger balance sheet than we need, but we have several interesting acquisition opportunities that we are eyeing and we intend to boost cash yield to shareholders 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

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Electrolux steps up spending for North American factory overhaul

STOCKHOLM Electrolux , one of the world's biggest home appliance makers, is launching an 8 billion Swedish crown ($950 million) investment drive to modernize its factories, especially in North America, to better compete with cheap Asian competition.