Electrolux Professional Ab Class B · OMXSTO:EPRO_B
Electrolux Professional Ab Class B — Q1 2024 Earnings Presentation
15 slides from Electrolux Professional Ab Class B's earnings presentation, Apr 24, 2024
Slide 1: Q1 2024 result presentation
Q1 2024 result presentation Alberto Zanata, President and CEO Fabio Zarpellon, CFO “Comparable profit increased”
Slide 2: Q1 highlights
Q1 highlights Comparable profit increased SEKm Jan-Mar 2024 Jan-Mar 2023 Change, % • Sales increased by 2.9% Net sales 3,055 2,968 2.9 EBITA 326 340 -4.1 • Organically, sales declined by 4.3% compared to strong sales of last year. EBITA margin, % 10.7 11.4 • TOSEI, a leading company in professional
Slide 3: Q1 organic sales development per region
Q1 organic sales development per region* -11% -1% AMERICAS EUROPE -6%* Food &Beverage Food &Beverage -9% flat Laundry Laundry APAC-MEA -16% -3% Food &Beverage -2% Laundry -10% *Excluding TOSEI Electrolux Professional Group Q1 2024 presentation 3
Slide 4: Q1 Food & Beverage
Q1 Food & Beverage SEKm Jan-Mar Jan-Mar Change, % Sales declined organically but EBITA 2024 2023 improved Net sales 1,852 1,878 -1.4 • Organically, sales decreased by 3.4%. Organic growth, % -3.4 9.1 Acquisitions, % 3.1 - • Sales in our largest market, Europe, remained Divestments, % - -0.5 unchange
Slide 5: Q1 Laundry
Q1 Laundry Sales of Laundry declined. A very strong SEKm Jan-Mar Jan-Mar Change, % 2024 2023 comparison from same quarter of last year Net sales 1,203 1,090 10.3 • Organically sales declined by 5.9% compared to Organic growth, % -5.9 19.6 the very strong organic sales increase of 20% in last year’s
Slide 6: Financial overview Q1
Financial overview Q1 SEKm Jan-Mar Jan-Mar Change, % EBITA development 2024 2023 • EBITA amounted to SEK 326m (340) Net sales 3,055 2,968 2.9 including integration related costs of Gross operating income 1,054 1,030 SEK 38m. Gross operating margin, % 34.5 34.7 • Excluding integration related costs,
Slide 7: Continued strong cash generation
Continued strong cash generation SEKm Jan-Mar Jan-Mar Operating cash flow after investments, SEKm 2024 2023 700 Operating income 271 301 600 Depreciation, amortization and other 125 111 500 non-cash items 400 Change in operating assets and liabilities -183 -306 300 200 Investments in intangible and
Slide 8: Operating working capital (OWC) and financial position
Operating working capital (OWC) and financial position SEKm 31 March, 31 March, % Operating working capital % of net sales 2024 2023 22 Inventories 1,954 2,099 20 Trade receivables 2,318 2,139 18 Trade payables 2,154 2,088 16 14 Operating working capital 2,118 2,150 12 Operating working capital of 1
Slide 9: MTN program launched
MTN program launched • Medium Term Note (MTN) Programme launched in the Swedish debt capital market with a SEK 5bn framemork amount. • Very positive market response. • Inaugural issuance of SEK 900m: • SEK 650m 3Y (March 22, 2027) • SEK 250m 5Y (March 22, 2029) • Provides diversification of funding
Slide 10: Acquisition of TOSEI
Acquisition of TOSEI • The acquisition of TOSEI Corporation, was closed on January 10, 2024. • TOSEI added sales of SEK 240m in the quarter. Sales declined compared to last year, mainly driven by a weak laundry market development. • The first quarter is normally the largest quarter for TOSEI. • Comp
Slide 11: Hotelex Shanghai
Hotelex Shanghai Veetsan compact flight type dishwasher • Optimizing performance with compact design, and water and energy saving. • Guaranteed hygiene with precise water thermal control. Modular cooking XP range • Shanghai-made XP range of modular cooking • First time for Electrolux Professional an
Slide 12: How to manage uncertity using digital tools
How to manage uncertity using digital tools • Platform from our logistic provider, monitoring all our ocean freight transportation. • Makes it possible to properly schedule production and keep customers informed. Electrolux Professional Group Q1 2024 presentation 12
Slide 13: Summary
Summary • Comparable profit increased. • Sales increased by 2.9%, but organically sales declined. Sales in the first quarter last year had a very strong organic sales growth. • The acquisition of TOSEI added sales of SEK 240m in the quarter. • Excluding integration related costs, the comparable EBIT
Slide 14: Q&A
Electrolux Professional Group Q&A
Slide 15: Electrolux Professional Group
Electrolux Professional Group
Electrolux Professional — Q1 2024 Earnings Presentation on 6ix