Latest news with #YannickFierling
Yahoo
18-07-2025
- Business
- Yahoo
Electrolux Group Interim report Q2 2025
STOCKHOLM, July 18, 2025 /PRNewswire/ -- Highlights of the second quarter of 2025 Net sales amounted to SEK 31,276m (33,819) with an organic sales growth of 1.8% (6.8), driven by growth in North America and Latin America, partly offset by a slight decline in Europe, Asia-Pacific, Middle-East and Africa. Operating income improved to SEK 797m (419) corresponding to an operating margin of 2.5% (1.2), driven mainly by an improvement in North America that reported a positive operating income in the quarter. Group operating income included a positive effect from the divestment of the Kelvinator trademark portfolio in India of SEK 180m. Income for the period amounted to SEK 178m (-80) and earnings per share were SEK 0.66 (-0.30). Operating cash flow after investments was SEK -741m (1,226), negatively impacted by an increase in working capital and the payment of the previously communicated French antitrust fine. President and CEO Yannick Fierling's comment Market outperformance in North America, amid uncertain market conditions Organic sales growth was slightly positive in the quarter at 1.8%, driven by North America and Latin America. Business area Europe, Asia-Pacific, Middle East and Africa reported a slight organic sales decline, with a negative price development. In Europe, our main brands continued to outperform the market, whereas the general market demand declined somewhat with increased competitive pressure, and replacement driven demand. In North America, market demand declined slightly in the quarter, and we continued to outperform the market. In both Europe and North America, consumers continue to shift to lower price points and demand was impacted by uncertainty due to ongoing geopolitical developments. In Latin America, consumer demand increased slightly. As anticipated, in Brazil, growth was hampered by inflationary pressure and increased interest rates. Business area Latin America reported slight organic sales growth. Improved operating earnings with positive contribution from North America Operating margin improved, with a positive contribution from North America where list price increases offset increased costs related to U.S. tariffs introduced in the quarter. The competitive pressure and promotional activity were high in the quarter. Latin America continued to deliver an operating margin above our Group mid-term target of 6%. In Europe, Asia-Pacific, Middle East and Africa, the underlying operating income was lower mainly due to a negative price development. Operating cash flow was negative, impacted by a seasonal increase in working capital, a negative impact related to U.S. tariffs and a payment of the earlier announced French antitrust fine. Our market and business outlook for the year remains unchanged, and we reiterate our aim to offset tariff-related cost increases in North America through price increases. Looking ahead, consumer centricity and transformation in focus In the quarter, we executed well on our long-term strategic priorities. We continued our journey to strengthen our brands, with new marketing campaigns to support recently launched innovations. In the U.S. we are currently launching new Frigidaire ovens with stone-baked pizza mode. North America has been a focus point for improvements, and in the quarter, the business area reported a positive operating income. We continued to make good progress on cost-efficiency measures, delivering cost savings from procurement as well as product engineering. Maintaining a consumer-centric approach, as well as increasing speed and agility, are key components of our strategy. In the coming quarter, we will increase our focus on the major transformation areas and to drive speed and agility. The second quarter results demonstrate our commitment to deliver on our strategic priorities amid challenging market conditions. Webcast and telephone conference 09.00 CET A video webcast and simultaneous telephone conference is held at 09.00 CET today, July 18. Yannick Fierling, President and CEO, and Therese Friberg, CFO, will comment on the report. If you wish to participate via webcast, please use the link below. Via the webcast you are able to ask written questions. If you wish to participate via telephone conference please register on the link below. After registration you will be provided phone numbers and a conference ID to access the conference. You can ask questions verbally via the telephone conference. Presentation material available for download This disclosure contains information that Electrolux Group is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014) and the Swedish Securities Markets Act (2007:528). The information was submitted for publication, through the agency of the contact person, on 18-07-2025 07:00 CET. CONTACT: For more information: Ann-Sofi Jönsson, Head of Investor Relations & Sustainability Reporting, email: +46 73 035 1005 Maria Åkerhielm, Investor Relations Manager, email: +46 70 796 3856 This information was brought to you by Cision The following files are available for download: Electrolux Q2 interim report 2025 View original content: SOURCE Electrolux Group Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
18-07-2025
- Business
- Reuters
Electrolux Q2 profit rises more than expected as it outperforms market in North America
STOCKHOLM, July 18 (Reuters) - Swedish home appliances maker Electrolux ( opens new tab reported a bigger-than-expected operating profit for the second quarter on Friday and said price hikes offset increased costs related to U.S. tariffs in the quarter. Operating profit at the group, whose brands include Frigidaire, AEG, Zanussi and Volta as well as Electrolux, rose to 797 million crowns ($81.9 million) from a year-earlier 419 million Analysts had on average forecast an operating profit of 710 million crowns, according to a poll provided by Electrolux. The company said overall market demand in North America and Europe had declined slightly in the quarter, but maintained its market outlooks from April for all regions. It said it however outperformed the wider market in North America, where it swung to profit. Electrolux said in April U.S. President Trump's tariff plans had hit consumer sentiment, and lowered its North America market outlook. It said at the time it was extremely difficult to predict tariffs, and that it aimed to offset any further tariff increases with more price hikes. "We reiterate our aim to offset tariff-related cost increases in North America through price increases," CEO Yannick Fierling said in a statement on Friday. ($1 = 9.7272 Swedish crowns)
Yahoo
18-07-2025
- Business
- Yahoo
Electrolux Group Interim report Q2 2025
STOCKHOLM, July 18, 2025 /PRNewswire/ -- Highlights of the second quarter of 2025 Net sales amounted to SEK 31,276m (33,819) with an organic sales growth of 1.8% (6.8), driven by growth in North America and Latin America, partly offset by a slight decline in Europe, Asia-Pacific, Middle-East and Africa. Operating income improved to SEK 797m (419) corresponding to an operating margin of 2.5% (1.2), driven mainly by an improvement in North America that reported a positive operating income in the quarter. Group operating income included a positive effect from the divestment of the Kelvinator trademark portfolio in India of SEK 180m. Income for the period amounted to SEK 178m (-80) and earnings per share were SEK 0.66 (-0.30). Operating cash flow after investments was SEK -741m (1,226), negatively impacted by an increase in working capital and the payment of the previously communicated French antitrust fine. President and CEO Yannick Fierling's comment Market outperformance in North America, amid uncertain market conditions Organic sales growth was slightly positive in the quarter at 1.8%, driven by North America and Latin America. Business area Europe, Asia-Pacific, Middle East and Africa reported a slight organic sales decline, with a negative price development. In Europe, our main brands continued to outperform the market, whereas the general market demand declined somewhat with increased competitive pressure, and replacement driven demand. In North America, market demand declined slightly in the quarter, and we continued to outperform the market. In both Europe and North America, consumers continue to shift to lower price points and demand was impacted by uncertainty due to ongoing geopolitical developments. In Latin America, consumer demand increased slightly. As anticipated, in Brazil, growth was hampered by inflationary pressure and increased interest rates. Business area Latin America reported slight organic sales growth. Improved operating earnings with positive contribution from North America Operating margin improved, with a positive contribution from North America where list price increases offset increased costs related to U.S. tariffs introduced in the quarter. The competitive pressure and promotional activity were high in the quarter. Latin America continued to deliver an operating margin above our Group mid-term target of 6%. In Europe, Asia-Pacific, Middle East and Africa, the underlying operating income was lower mainly due to a negative price development. Operating cash flow was negative, impacted by a seasonal increase in working capital, a negative impact related to U.S. tariffs and a payment of the earlier announced French antitrust fine. Our market and business outlook for the year remains unchanged, and we reiterate our aim to offset tariff-related cost increases in North America through price increases. Looking ahead, consumer centricity and transformation in focus In the quarter, we executed well on our long-term strategic priorities. We continued our journey to strengthen our brands, with new marketing campaigns to support recently launched innovations. In the U.S. we are currently launching new Frigidaire ovens with stone-baked pizza mode. North America has been a focus point for improvements, and in the quarter, the business area reported a positive operating income. We continued to make good progress on cost-efficiency measures, delivering cost savings from procurement as well as product engineering. Maintaining a consumer-centric approach, as well as increasing speed and agility, are key components of our strategy. In the coming quarter, we will increase our focus on the major transformation areas and to drive speed and agility. The second quarter results demonstrate our commitment to deliver on our strategic priorities amid challenging market conditions. Webcast and telephone conference 09.00 CET A video webcast and simultaneous telephone conference is held at 09.00 CET today, July 18. Yannick Fierling, President and CEO, and Therese Friberg, CFO, will comment on the report. If you wish to participate via webcast, please use the link below. Via the webcast you are able to ask written questions. If you wish to participate via telephone conference please register on the link below. After registration you will be provided phone numbers and a conference ID to access the conference. You can ask questions verbally via the telephone conference. Presentation material available for download This disclosure contains information that Electrolux Group is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014) and the Swedish Securities Markets Act (2007:528). The information was submitted for publication, through the agency of the contact person, on 18-07-2025 07:00 CET. CONTACT: For more information: Ann-Sofi Jönsson, Head of Investor Relations & Sustainability Reporting, email: +46 73 035 1005 Maria Åkerhielm, Investor Relations Manager, email: +46 70 796 3856 This information was brought to you by Cision The following files are available for download: Electrolux Q2 interim report 2025 View original content: SOURCE Electrolux Group Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
18-07-2025
- Business
- Yahoo
Electrolux Q2 profit rises more than expected as it outperforms market in North America
STOCKHOLM (Reuters) -Swedish home appliances maker Electrolux reported a bigger-than-expected operating profit for the second quarter on Friday and said price hikes offset increased costs related to U.S. tariffs in the quarter. Operating profit at the group, whose brands include Frigidaire, AEG, Zanussi and Volta as well as Electrolux, rose to 797 million crowns ($81.9 million) from a year-earlier 419 million Analysts had on average forecast an operating profit of 710 million crowns, according to a poll provided by Electrolux. The company said overall market demand in North America and Europe had declined slightly in the quarter, but maintained its market outlooks from April for all regions. It said it however outperformed the wider market in North America, where it swung to profit. Electrolux said in April U.S. President Trump's tariff plans had hit consumer sentiment, and lowered its North America market outlook. It said at the time it was extremely difficult to predict tariffs, and that it aimed to offset any further tariff increases with more price hikes. "We reiterate our aim to offset tariff-related cost increases in North America through price increases," CEO Yannick Fierling said in a statement on Friday. ($1 = 9.7272 Swedish crowns) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
30-04-2025
- Business
- Yahoo
Electrolux AB (ELRXF) Q1 2025 Earnings Call Highlights: Strong Organic Growth Amid Tariff Challenges
Organic Sales Growth: 7.9% driven by North America and Latin America. Operating Margin: 1.4% with a year-over-year improvement of SEK1.2 billion. Cost Efficiency Savings: SEK1.4 billion in the first quarter, targeting SEK3.5 billion to SEK4 billion for 2025. Cash Flow After Investments: Negative SEK3.1 billion due to higher seasonal outflow in operating working capital. Net Debt to EBITDA: Stabilized at 3.4 times, same as the end of 2024. Liquidity: SEK29.5 billion with revolving credit facilities. North America Organic Growth: 12.2% driven by major launches in the premium segment. Latin America Organic Growth: 16.3%, though growth rate slowing due to inflationary pressures. Europe Organic Growth: 1.2%, with market largely unchanged and replacement driven. Investment in Innovation and Marketing: Expected to increase in full-year 2025 compared to 2024. Warning! GuruFocus has detected 7 Warning Signs with ELRXF. Release Date: April 29, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Electrolux AB (ELRXF) reported a solid organic growth of 7.9%, primarily driven by strong performance in North America and Latin America. The company achieved an operating margin improvement of SEK1.2 billion year-over-year, reaching 1.4%. Cost efficiency measures resulted in savings of SEK1.4 billion in Q1, contributing positively to the operating margin. Electrolux AB (ELRXF) is recognized as a leader in sustainability, with significant reductions in Scope I, II, and III emissions. The company has launched innovative products, including AI-assisted cooking appliances, enhancing its competitive edge in the market. The European market remains largely replacement-driven with subdued demand, impacting pricing negatively. Electrolux AB (ELRXF) faces headwinds from the devaluation of the Brazilian real, affecting its Latin American operations. North American consumer confidence has deteriorated, posing a risk to future demand. The company anticipates significant negative impacts from tariffs, particularly affecting North American operations. Cash flow after investments was negative SEK3.1 billion in the quarter, with a higher seasonal outflow in operating working capital. Q: Can you explain the impact of external factors on pricing and tariffs, and how Electrolux plans to address these challenges? A: Yannick Fierling, CEO, explained that Electrolux has been proactive in responding to currency devaluation and tariffs by implementing price increases, particularly in Brazil and North America. The company aims to offset the negative impacts of tariffs through these price adjustments, ensuring they remain competitive despite the 170% tariff on imports from China. Q: How is Electrolux managing its supply chain and sourcing in response to tariffs, particularly from China? A: Yannick Fierling, CEO, stated that Electrolux is exploring best cost country sourcing outside of China to mitigate the impact of tariffs. The company is leveraging its global scale to find alternative sourcing options and is also considering production in regions like Southeast Asia and Africa to reduce dependency on China. Q: What is Electrolux's strategy for maintaining market share in North America amid tariff challenges? A: Yannick Fierling, CEO, emphasized that Electrolux's strong local manufacturing footprint in North America, with factories in the US and Mexico, positions it well to handle tariff impacts. The company is focusing on product innovation and marketing to support price increases and maintain competitiveness. Q: How does Electrolux view the competitive landscape in Europe, especially with potential increased competition from Asian imports? A: Yannick Fierling, CEO, noted that Electrolux's strong brand presence in the core plus and premium segments in Europe provides a buffer against potential competition from Asian imports. The company is focusing on consumer-relevant innovations and leveraging its brand strength to maintain market share. Q: What is Electrolux's outlook for Latin America, considering the current economic conditions? A: Yannick Fierling, CEO, mentioned that while growth in Latin America has slowed, Electrolux remains focused on the premium segment, which is less impacted by competitive pressures. The company is committed to maintaining its leadership position in the region through strategic investments and product launches. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
