Electrolux AB (ELUX_A) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to Electrolux Group and the presentation of our Q1 report. I'm Ann-Sofie Jönsson, Head of IR. And with me today, I have Yannick Fierling, our CEO, and our CFO, Therese Friberg. After the presentation, we will open up for Q&A. For those of you who are viewing on the web, do feel free to place your questions in the chat throughout the presentation, and we'll pick them up afterwards. So welcome, and now over to you, Yannick. Thank you very much, Anne-Sophie, and good day to all of you. I'm very happy to present the Q1 2025 Electronics Group Report. We are glad to report a solid organic growth of 7.9% here, which has been leading us to an operating margin of 1.4%, with a year-over-year improvement of 1.2 billion SEC. We have been improving in every single business area. And no need to say, I mean, we have been delivering these results in an environment which has been rapidly changing, which has been very volatile and uncertain. Moving to the global perspective, again, 7.9% organic growth, mainly driven by North America and Latin America. We had overall a favorable product mix in every single region. Unfortunately for Europe, as for the last quarters, the market was mainly replacement-driven. Looking at the operating margin, again, 1.4%, the main positive factor we had and the main positive contributor for this operating margin has been the efficiency and cost change we delivered in the first quarter at a level of 1.4 billion. The increase in sales and product mix have been more than offsetting the negativity we had on prices. The single big external factor we had to face was the devaluation of the Brazilian real in Latin America. And here, once again, we acted quickly by increasing prices in the first quarter. So in a nutshell, Latin America continued to perform ...