Slide 1: Electrolux Group Q2 2024 Results presentation
Electrolux Group Q2 2024 Results presentation Jonas Samuelson, President and CEO Therese Friberg, CFO Oscar Stjerngren, Investor Relations
Slide 2: Q2 Highlights
Q2 Highlights Organic sales growth of 7% + Volume increase in all business areas * Positive mix supported by the attractive product offering * Negative price Positive EBIT * EBIT improved by SEK >Ibn sequentially with a significantly reduced loss in North America * Latin America continued to perform
Slide 3: Sales and EBIT Bridge
Sales and EBIT Bridge seKm @22023 aicamn marketing efficiency? =~ foctonge, 2 2024 Net Sales 32,653 1.853 -688 33,819 Growth % 5.8% 2.3% 3.6% EBIT excl NRIS 519 514 “247 270 391 419 EBIT excl NRI% 1.6% 1.2% pecretion/ -16 pts -0.7 pts 0.8 pts 1.2 pts Argentina and Egypt, which are included in Extern
Slide 4: Executing on cost reduction target
Executing on cost reduction target X) Cost reduction! y-o-y, FY 2024e Cost reduction target” approx. Annual product cost reduction mid-term ae SEK Abn in 2024 vs 2023 at a similar rate as in 2023-2024 — Headwinds from logistics cost affecting — Low-cost sourcing and supplier consolidation previous t
Slide 5: Operating Cash Flow
Operating Cash Flow SEKm HI 2024 HI 2023 EBIT -301 -380 D/A and other non-cash items 3,202 4,370 Change in operating assets and liabilities -2,048 3,544 Investments in intangible and tangible assets -2,039 -2,396 Changes in other investments -274 5 Cash flow after investments* -1,460 -1,955 ‘Before
Slide 6: Solid liquidity and maturity profile
Solid liquidity and maturity profile sekbn Long-term borrowings, by maturity 12.0 10.0 8.0 6.0 4.0 20 L 0.0 2024 2025 2026 2027 2028 2029- Data as per June 30, 2024 SEK 32.8bn in liquidity incl. RCF as per June 30, 2024 No financial covenants in any loan agreements New eight-year sustainability-link
Slide 7: Europe, Asia-Pacific, Middle East, and Africa
Europe, Asia-Pacific, Middle East, Organic sales decline * Low residential construction and remodeling activity, impacting the built-in kitchen category * Negative price * Positive mix * Slight volume growth, outperformed weak market Organic decrease in EBIT * Negative contribution from price mitiga
Slide 8: European Core Appliances Market
European Core Appliances Market Total European shipments, quarterly unit comparison y-o-y 40% 30% 20% 10% 0% -10% -20% 2013 2014 2015 Source: Electrolux estimates. As from Ql 2020, Russia is excluded. AB ELECTROLUX - Q2 2024 2016 2017 2018 2019 2020 2021 2022 2023 2024
Slide 9: North America
North America Organic sales growth * Organic sales increase primarily driven by higher volumes * Negative price, promotional activity remains high * Positive mix * Record high consumer star rating at 4.6 on a 5-point scale Operating loss reduced by SEK 0.8bn sequentially * Negative organic contribut
Slide 10: U.S. Core Appliances Market
U.S. Core Appliances Market U.S. shipments, quarterly unit comparison y-o-y 30% 25% 20% 15% 10% 5% 0% 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 “Source: Based on the AHAM Factory Shipment Report. Q2 2024 is a comparison of weeks between March 31, 2024 - June 29 30, 2024 vs April2,
Slide 11: Latin America
Latin America High organic growth + Volume growth, driven by increased consumer demand and warm weather in Brazil * Price slightly negative * Slightly positive mix * Strong aftermarket sales growth Significant increase in EBIT * Strong organic growth, driven by Brazil * Positive contribution from co
Slide 12: Outlook and summary
Slide 13: Market outlook FY 2024 per region
Market outlook FY 2024 per region North America Electrolux estimates for industry shipments of core appliances, units year-over-year Latin America includes the ABC-countries, Asic-Pacific includes ANZ and SEA. In line with our new organizational structure, we have combined the outlook for Europe and
Slide 14: Electrolux business outlook
Electrolux business outlook Business Outlook! y-o-y FY 2024 Comments Volume/price/mix Negative Driven by price, partly offset by growth in focus categories. Investments in consumer experience - Increased investments in Innovation & marketing to capitalize on the - Negative innovation and marketing*
Slide 15: Strategy for profitable growth
Strategy for profitable growth) Financial targets Operating Return on net Sales margin assets growth 26% »>20% 24% The primary financial priority is achieving our fnancial targets of an operating margin of at least 6% and « return on net assets of over 20%, over a business cycle. Once established, o
Slide 16: Factors affecting forward-looking statements
Factors affecting forward-looking statements This presentation contains “forward-looking” stat company’s current expectations. Although the company at the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations prove to have been cor
Slide 17: Q&A
Slide 18: Strategy for profitable growth
Strategy for profitable growth Financial targets Operating Return on net Sales margin assets growth 26% »>20 2h The primary financial priority is achieving our financial targets of an operating margin of at least 6% and a return on net assets of over 20%, over a business cycle. Once established, our
Slide 19: AB ELECTROLUX - Q2 2024
AB ELECTROLUX - Q2 2024
Slide 20: Earnings contribution from price/mix
Earnings contribution from price/mix Business Area Q2, y-o-y Comments on Q2 y-o-y Europe, Asia-Pacific, Middle East and Africa North America Latin America Group EBIT % accretion Negative Negative Negative -2.8 pts Increased promotions and negative price, partly offset by positive mix. Excludes curre
Slide 21: Electrolux Group
r{) Electrolux Group