Electrolux Professional Ab Class B · OMXSTO:EPRO_B
Electrolux Professional Ab Class B — Electrolux — Q2 2013 Earnings Presentation
16 slides from Electrolux Professional Ab Class B's earnings presentation, Jul 19, 2013
Slide 1: Q2 Results
Q2 Results July 19, 2013 Keith McLoughlin, President and CEO Tomas Eliasson, CFO Peter Nyquist, SVP IR
Slide 2: Q2 Highlights
Q2 Highlights EBIT (SEKm) Margin (%) 1,800 6 • Organic growth of 5.9% 1,600 5 – Strong growth in Latin America 1,400 and Asia/Pacific 4.0 1,200 3.7 4 • EBIT of SEK 1,037m 1,000 3 800 – Improved results in North America and Small Appliances 600 2 400 – Results offset by soft markets 1 in Europe 200 0
Slide 3: Sales and organic growth, Q2
Sales and organic growth, Q2 SEKbn by geography 9.0bn +3.2% 9.2bn +2.2% 1.5bn +27.8% 0.9bn +20.6% 5.8bn +20.9% 1.3bn -3.8% 3
Slide 4: Sales and EBIT bridge Q2
Sales and EBIT bridge Q2 Currency Currency Acquisitions/ SEKm Q2 2012 Organic Q2 2013 translation Transaction Divestments Net sales 27,763 1,545 -1,634 - - 27,674 Growth % - 5.9% -6.2% - - -0.3% EBIT 1,112 106 -56 -125 - 1,037 EBIT % 4.0% 6.9% 3.2% - - 3.7% Dilution/accretion % 0.2% 0.1% -0.5% 0.0%
Slide 5: Q2 Cash flow
Q2 Cash flow SEKm 2012 Q2 2013 Q2 Operations 1,770 1,827 Change in operating 2,793 1,764 assets and liabilities Capital expenditure -957 -1,084 Operating cash flow 3,606 2,507 5
Slide 6: Major Appliances Europe, Middle East & Africa
Consumer Durables Major Appliances Europe, Middle East & Africa EBIT (SEKm) Margin (%) 600 6 • Weak market development 500 5 – Volumes continued to decline in key European markets 400 4 • EBIT at breakeven 300 3 2.5 – Negative country mix partially offset by positive product mix 200 2 – Negative cur
Slide 7: Weak growth in Europe
Weak growth in Europe Further weakening in Southern Europe and slow-down in Eastern Europe Quarterly comparison y-o-y 10% 5% 0% -5% -10% -15% 2006 2007 2008 2009 2010 2011 2012 2013 -20% W. Eur. +4 +1 +1 +5 +1 +1 -1 -5 -4 -4 -5 -8 -9 -9 -4 -2 +1 0 0 0 -2 -2 -3 -3 -2 -4 -2 -2 -3 +0.3 E. Eur. +1 +9 +6
Slide 8: Major Appliances North America
Consumer Durables Major Appliances North America EBIT (SEKm) Margin (%) 750 7.8 • Positive organic growth 7.5 600 – Improvements in price/mix 5.7 6 – Volume decline in air-con 450 4.5 • EBIT improved to SEK 663m 300 – EBIT margin of 7.8% 3 – Price/mix contribution 150 1.5 – Consolidation of cooking
Slide 9: Market for core appliances continue to grow in North America
Market for core appliances continue to grow in North America Quarterly comparison y-o-y 15% 10% 5% 0% -5% -10% -15% -20% 2006 2007 2008 2009 2010 2011 2012 2013 9
Slide 10: Major Appliances Latin America
Consumer Durables Major Appliances Latin America EBIT (SEKm) Margin (%) 700 12 • Organic growth of 17.6% 600 10 – Volume growth despite 500 slowdown in demand 8 – Positive price/mix 400 6.1 300 4.8 6 • EBIT of SEK 261m 4 – Positive volume, price, mix 200 – Negatively impacted by currency 100 2 – Hig
Slide 11: Major Appliances Asia/Pacific
Consumer Durables Major Appliances Asia/Pacific EBIT (SEKm) Margin (%) 240 12 • Weak volumes in Australia 10 – Positive product mix offset by 7.8 negative customer mix 160 6.6 8 – After a period of price pressure, 6 price increases now implemented • Growth in Southeast Asia and 80 4 China 2 – Contin
Slide 12: Small Appliances
Consumer Durables Small Appliances EBIT (SEKm) Margin (%) 270 12 • 6.5% of organic growth 10 – Volume growth in Europe and Asia/Pacific 180 8 – Strong growth within small 6 domestic appliances • Improved operating income 90 4 1.2 2.4 – Higher volumes 2 – Improved price/mix 0 0 – Unfavorable currency
Slide 13: Professional Products
Professional Products EBIT (SEKm) Margin (%) 300 20 Food-service products 16 • Volume decline in Europe • Recovery in US 200 10.5 12 • Lower operating income 8.1 – Negative country mix 8 100 – Investments in priority areas 4 Laundry products • Back to positive sales growth 0 2012 2013 0 • Operating
Slide 14: Q3 and FY 2013 y-o-y
Q3 and FY 2013 y-o-y In accordance with forward-looking statements in the CEO letter, press release and previous official statements Q3 FY 2013 Comments Slightly Slightly Growth in emerging markets and North Market volumes Positive Positive America. Weak Europe. Slightly Slightly Latin America and N
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Slide 16: Factors affecting forward-looking statements
Factors affecting forward- looking statements Factors affecting forward-looking statements This presentation contains “forward-looking” statements within the meaning of the US Private Securities Litigation Reform Act of 1995. Such statements include, among others, the financial goals and targets of