Slide 1: Electrolux Group Q1 2024 Results presentation
Electrolux Group QI 2024 Results presentation Jonas Samuelson, President and CEO Therese Friberg, CFO. Oscar Stjerngren, Investor Relations
Slide 2: Q1 Highlights
Ql Highlights Organic sales decline + Negative price, promotional activity remains high * Lower volumes * Positive mix despite challenging markets EBIT loss * Loss in North America mainly driven by price pressure * Unfavorable organic contribution due to price * Latin America continued to perform we
Slide 3: Sales and EBIT Bridge
Sales and EBIT Bridge SEKm Ql 2023 Volume/ Innovation/ Cost External price/mix' marketing? efficiency factors ul Aap Net Sales 32,734 -1,386 -271 31,077 Growth % 4.3% -0.8% -5.1% EBIT excl NRIS 305 -1,615 -129 629 90 -720 EBIT excl NRI % 0.9% 2.5% Accretion/ Dilution ~5.1 pts -0.4 pts 2.0 pts 03 pts
Slide 4: Executing on cost reduction target
Executing on cost reduction target HX) Net cost reduction y-o-y, SEKbn Cost reduction target SEK 4-5bn in Annual product cost reduction mid-term 2024 vs 2023 at a similar rate as in 2023-2024 — Organizational simplification and overhead — Low-cost sourcing and supplier consolidation a 55 efficiency
Slide 5: Operating Cash Flow
Operating Cash Flow AB ELECTROLUX - QI 2024 SEKm QI 2024 QI 2023 EBIT -720 -256 D/A and other non-cash items 1,628 2,066 Change in operating assets and liabilities -2,535 -5,799 Investments in intangible and tangible assets -992 -1131 Changes in other investments -67 28 Cash flow after investments*
Slide 6: Solid liquidity and maturity profile
Solid liquidity and maturity profile Long-term borrowings, by maturity SEKbn 12.0 10.0 8.0 6.0 4.0 ° 0 0.0 2024 2025 2026 2027 2028 2029- Data as per March 31, 2024 * SEK 31.9bn in liquidity incl. RCF as per March 31, 2024 * No financial covenants in any loan agreements and reduced financial net deb
Slide 7: Europe, Asia-Pacific, Middle East, and Africa
Europe, Asia-Pacific, Middle East, and Africa Organic sales decline + Lower volumes driven by weak purchasing power * Low residential construction and remodeling activity, impacting the built-in kitchen category * Negative price; high promotional activity * Favorable mix EBIT excl. NRI decrease vs.
Slide 8: European Core Appliances Market
European Core Appliances Market Total European shipments, quarterly unit comparison y-o-y 40% 30% 20% 10% -10% -20% 2013 2014 2015 Source: Electrolux estimates. As from Ql 2020, Russia is excluded. AB ELECTROLUX - QI 2024 2016 2017 2018 2019 2020 2021 2022 2023 2024
Slide 9: North America
North America Organic sales decline * Lower volumes driven by weak market in the start of the year and negative price due to high price pressure * Ramp-up of cooking facility partly limited ability to capture market demand * Favorable mix Operating loss * Negative organic contribution, primarily pri
Slide 10: U.S. Core Appliances Market
U.S. Core Appliances Market HX) U.S. shipments, quarterly unit comparison y-o-y 30% 25% 20% 15% 10% . ill ll 0% tm ET ae Hill 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 “Source: Based on the AHAM Factory Shipment Report. QI 2024 is a comparison of weeks between January 1~- March 30,
Slide 11: Latin America
Latin America Organic sales growth + Volume growth, driven by increased consumer demand and warm weather in Brazil * Strong aftermarket sales * Negative price and mix EBIT increase vs. last year raw material cost Rolling 12m EBIT >6% AB ELECTROLUX - QI 2024 Strong organic sales performance, driven b
Slide 12: Outlook and summary
Slide 13: Market outlook FY 2024 per region
Market outlook FY 2024 per region North America Neutral/ Latin America Positive 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 com
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 innovation and marketing* Positive SEK 4-5bn, Benefits from the expanded Group-wide cost reduction and Nort
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 ¢ * ses OT y * Operating Return on net _ margin assets 8 26% »>20 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,
Slide 19: AB ELECTROLUX - QI 2024
AB ELECTROLUX - QI 2024
Slide 20: Earnings contribution from price/mix
Earnings contribution from price/mix Business Area Ql, y-o-y Comments on QI y-o-y Europe, Asia-Pacific, Middle ; Price negative due to high Promotional activity. Excludes currency Negative related price increases in Egypt, which is included in external factors East and Africa Positive mix driven by
Slide 21: Electrolux Group
r{) Electrolux Group