Electrolux Professional Ab Class B · OMXSTO:EPRO_B
Electrolux Professional Ab Class B — Q4 2023 Earnings Presentation
16 slides from Electrolux Professional Ab Class B's earnings presentation, Feb 1, 2024
Slide 1: Q4 2023 result presentation
Q4 2023 result presentation Alberto Zanata, President and CEO Fabio Zarpellon, CFO “Step-by-step building a stronger company.”
Slide 2: Q4 highlights
Q4 highlights Solid results, despite somewhat declining SEKm Oct-Dec 2023 Oct-Dec 2022 Change, % sales Net sales 2,974 3,040 -2.2 EBITA 302 324 -7.0 • Sales decreased by 2.2% EBITA margin, % 10.1 10.7 -0.6ppt • Organically, sales decreased by 3.7%. Operating cash flow after • The sales decline durin
Slide 3: Q4 organic sales development per region
Q4 organic sales development per region -10% -1% Sales of Food & Sales in Food Beverage in Europe was flat in Americas the quarter. -3% declined, impacted by postponement of Sales declined in orders. Food &Beverage Asia-Pacific, flat Middle East and Food &Beverage Africa. -12% Laundry -3% Food &Beve
Slide 4: Q4 Food & Beverage
Q4 Food & Beverage Improved margin. Flat sales in Europe. SEKm Oct-Dec Oct-Dec Change, Signs of recovery in the US even if sales 2023 2022 % declined Net sales 1,855 1,904 -2.6 Organic growth, % -4.2 9.5 • Organically, sales decreased by 4.2%, but less Acquisitions, % - 17.0 than in the third quarte
Slide 5: Q4 Laundry
Q4 Laundry Only slight sales decline compared to a very strong quarter of last year SEKm Oct-Dec Oct-Dec Change, 2023 2022 % • Organically sales declined by 3% compared to the Net sales 1,120 1,136 -1.5 strong sales catch-up in the corresponding quarter Organic growth, % -3.0 19.4 of last year, due
Slide 6: Financial overview Q4
Financial overview Q4 SEKm Oct-Dec Oct-Dec Change, % EBITA development 2023 2022 • The somewhat lower EBITA mainly Net sales 2,974 3,040 -2.2 due to lower sales volumes in the US Gross operating income 955 968 -0.1 and in Laundry. Gross operating margin, % 32.1 31.8 • Net financial items decreased m
Slide 7: Continued strong cash generation
Continued strong cash generation SEKm Oct-Dec Oct-Dec Operating cash flow after investments, SEKm 2023 2022 700 EBITDA 261 284 600 Depreciation, amortization and other 119 102 500 non-cash items 400 300 Change in operating assets and liabilities 278 206 200 100 Investments in intangible and tangible
Slide 8: Operating working capital (OWC) and financial position
Operating working capital (OWC) and financial position SEKm 31 Dec, 2023 31 Dec, 2022 % Operating working capital % of net sales Inventories 1,692 1,981 22 20 Trade receivables 1,904 2,028 18 Trade payables 1,761 2,040 16 Operating working capital 1,834 1,968 14 12 Operating working capital of 18.1
Slide 9: Further improved Net debt/EBITDA ratio
Further improved Net debt/EBITDA ratio 2.3 2.0 1.8 1.5 1.4 1.3 1.2 0.9 1,836 2,196 2,711 2,050 2,051 2,086 1,850 1,390 2022 Q1 Q2 Q3 Q4 Q1 2023 Q2 Q3 Q4 Net debt, SEKm Net debt/EBITDA Electrolux Professional Group Q4 2023 presentation 9
Slide 10: Tosei - reliable Japanese Technology
Tosei - reliable Japanese Technology • On January 10, Electrolux Professional Group acquired Tosei Corporation – a leading company in professional Laundry and Food vacuum packing in Japan. • Purchase price SEK 1,620m (JPY 23.006bn) on a cash and debt free basis. • Tosei will strengthen Electrolux Pr
Slide 11: Tosei - reliable Japanese Technology
Tosei - reliable Japanese Technology • Founded in 1950, Tosei is a leading company in professional Laundry and Vacuum packing in Japan. • 340 employees. Head office in Tokyo and Factory in Izunokuni, Shizuoka. • A portfolio of washers and dryers, mainly for laundromats (Coin-ops) as well as vacuum p
Slide 12: Co2 emissions target 2015-2025 reached
Co2 emissions target 2015-2025 reached We met our 50% CO2 reduction target for 2025 (compared to 2015) already in 2023 - two years ahead of plan. * CO2e emissions (tons) scope 1 and 2 -50% 2015 2016 2017 2018 2019 2020 2021 2022 2023 * Including contributions from acquisitions made 2015-2019. Unifie
Slide 13: Summary
Summary • Solid 2023 with further steps towards our financial targets with increased sales and EBITA, improving profitability. • With the acquisition of Tosei we are growing in attractive segments in Japan. • Sales declined less during the fourth quarter than the third quarter. Signs of recovery in
Slide 14: Investor Day 2024
Investor Day 2024 • Timing: March 13, 2024, 09.00-12.00 (CET) (doors open 08.30, the event ends with mingle lunch) • Venue: Hotel Courtyard by Mariott, Rålambshovsleden 50, Stockholm • Agenda: Focus on Laundry, Food & Beverage in Asia, and the recent acquisition of Tosei in Japan • Presenters: Alber
Slide 15: Q&A
Q&A Electrolux Professional Group Q4 2023 presentation 15
Slide 16: Electrolux Professional Group
Electrolux Professional Group
Electrolux Professional — Q4 2023 Earnings Presentation on 6ix