Electrolux Group reports loss in the fourth quarter - driven by North America
STOCKHOLM, Jan. 12, 2024 /PRNewswire/ -- Electrolux Group announced today that operating income, excluding non-recurring items, in the fourth quarter of 2023 is estimated to be approx.SEK -0.7bn (-0.6). The underlying loss in business areaNorth America is estimated at approx. SEK -1.4bn (-1.2), d...
Electrolux Group announces its second science-based climate target
STOCKHOLM, Jan. 11, 2024 /PRNewswire/ -- Electrolux Group announces today that it has set a new science-based climate target to reduce greenhouse gas emissions in products and operations in support of theParis climate agreement. The new target comes after the Group achieved its previous science-b...
Electrolux Group has completed Memphis factory divestment
STOCKHOLM, Dec. 22, 2023 /PRNewswire/ -- Electrolux Group has divested its factory inMemphis, Tennessee, USA, for a cash consideration of USD 35m (approx. SEK 350m). The gain of approximately USD 25m (approx. SEK 250m) from the divestment will be recorded as a non-recurring item, positively impa...
Electrolux Group Q3 2023 Interim report
STOCKHOLM, Oct. 27, 2023 /PRNewswire/ -- Highlights of the third quarter of 2023 * Net sales amounted to SEK 33,427m (35,244). The organic sales decline of 7.9% was mainly driven by continued weak market demand and consumers shifting to lower price points. Mix was positive, supporte...
Electrolux Group steps-up cost reductions and organizational simplifications
STOCKHOLM, Oct. 27, 2023 /PRNewswire/ -- Against the background of continued weak consumer demand and competitive pressure in the market, Electrolux Group is stepping up its cost reduction efforts to restore margins. The actions are expected to result in net cost savings ofSEK 10-11bn in 2024 vs ...
Torbjörn Lööf proposed as new Chairman of AB Electrolux
The Nomination Committee of AB Electrolux proposes that Torbjörn Lööf is elected as new Chairman of the Board of AB Electrolux at the Annual General Meeting 2024. STOCKHOLM, Oct. 26, 2023 /PRNewswire/ -- As previously communicated, Staffan Bohman has announced that he will not be available for r...
Invitation to Electrolux Group Q3 presentation
STOCKHOLM, Oct. 12, 2023 /PRNewswire/ -- Electrolux Group results for the third quarter of 2023 will be published onOctober 27, 2023, at approx. 08.00 CEST. A telephone conference will be held following the release of the results, starting at 09.00 CEST. Jonas Samuelson, President and CEO, There...
AB Electrolux Chairman Staffan Bohman declines re-election
STOCKHOLM, Oct. 5, 2023 /PRNewswire/ -- Staffan Bohman has today notified the AB Electrolux Nomination Committee that he will not be available for re-election as Chairman of the Board of AB Electrolux at the Annual General Meeting in 2024. Staffan Bohman has been Chairman since 2018. He is also ...
Conversion of shares in AB Electrolux
STOCKHOLM, Sept. 30, 2023 /PRNewswire/ -- According to AB Electrolux articles of association, owners of Series A shares are entitled to request that such shares are converted to Series B shares. Conversion reduces the total number of votes in the company. During September 2023, 364 Series A shar...
Electrolux Group to divest Memphis factory
STOCKHOLM, Sept. 21, 2023 /PRNewswire/ -- Electrolux Group has agreed to divest its manufacturing facility inMemphis, Tennessee, USA to a US-based investment company for a cash consideration ofUSD 61m (approx. SEK 675m). The agreed divestment follows a previous agreement with another buyer which...
Electrolux Group divests Nyíregyháza factory in Hungary to Qvantum
STOCKHOLM, Sept. 15, 2023 /PRNewswire/ -- Electrolux Group has divested its manufacturing facility in Nyíregyháza,Hungary to Swedish heat pump manufacturer Qvantum for a cash consideration ofEUR 38m (approx. SEK 455m). The approximate gain of EUR 25m (approx. SEK 300m) will be recorded as a non-...
Nomination Committee appointed for AB Electrolux Annual General Meeting 2024
The members of the Nomination Committee for AB Electrolux Annual General Meeting in 2024 have now been appointed. STOCKHOLM, Sept. 14, 2023 /PRNewswire/ -- In accordance with decision by the Annual General Meeting, AB Electrolux Nomination Committee shall consist of six members. The Nomination C...
IFA 2023: Electrolux Group puts the spotlight on resource efficiency with AEG EcoLine
STOCKHOLM, Aug. 29, 2023 /PRNewswire/ -- Global appliance company Electrolux Group – under its premium brand AEG – is showcasing, for the first time, its most resource-efficient models at IFA 2023: the AEG EcoLine. AEG EcoLine is a dedicated selection, presented in-store and online, of the compan...
Electrolux Group Q2 2023 Interim report
STOCKHOLM, July 20, 2023 /PRNewswire/ -- Highlights of the second quarter of 2023 * Net sales amounted to SEK 32,653m (33,749). The organic sales decline of 8.4% was driven by the continued weak market demand with consumers shifting to lower price points, resulting in significantly lower volum...
Electrolux Group initiates preparations to divest non-core assets with total potential value of SEK 10bn
STOCKHOLM, July 20, 2023 /PRNewswire/ -- As part of its ongoing work to sharpen its strategic focus, Electrolux Group announced today that the company has started preparations for a potential divestment of Zanussi and other non-core brands* during the coming years. A divestment would include the ...
Invitation to Electrolux Group Q2 presentation
STOCKHOLM, July 7, 2023 /PRNewswire/ -- Electrolux Group results for the second quarter of 2023 will be published onJuly 20, 2023, at approx. 08.00 CEST. A telephone conference will be held following the release of the results, starting at 09.00 CEST. Jonas Samuelson, President and CEO, Therese ...
Electrolux Group sets provision mainly relating to French antitrust case
STOCKHOLM, May 30, 2023 /PRNewswire/ -- Electrolux Group will set a provision of approximatelySEK 650m in connection to the previously reported investigation of alleged breaches of antitrust rules inFrance between 2009 and 2014. A minor part of the provision relates to settlement of another legal...
Conversion of shares in AB Electrolux
STOCKHOLM, April 28, 2023 /PRNewswire/ -- According to AB Electrolux articles of association, owners of Series A shares are entitled to request that such shares are converted to Series B shares. Conversion reduces the total number of votes in the company. During April 2023, 180 Series A shares w...
Electrolux Group Q1 2023 Interim report
STOCKHOLM, April 28, 2023 /PRNewswire/ -- Highlights of the first quarter of 2023 * Net sales increased to SEK 32,734m (30,118), corresponding to an organic growth of 2.2%. Price remained solid, while weaker market demand resulted in lower volumes for the Group as a whole. New product ranges c...
New research from Electrolux Group reveals Europe turns to 30° wash, driving down CO2 emissions
STOCKHOLM, April 26, 2023 /PRNewswire/ -- Three years of data in The Truth About Laundry report, shows 35 million households have turned down wash temperatures for potential saving of nearly 1 million tons of CO2 equivalent emissions. Today the results of the longest and largest study of its ki...
