Electrolux today at its capital markets day presents a status update on the Group’s strategy, focusing on actions to drive profitable growth and further improve operational excellence. President and CEO Keith McLoughlin and members of senior management will hold presentations, including an in-depth view of the operations in North America.
The core strategy of Electrolux is based on four pillars: profitable growth, innovation, operational excellence and people and leadership. The presentations will showcase how the strategy creates sustainable economic value, through a continuous flow of consumer-focused product innovations and through adapting the Group’s manufacturing footprint and cost structure.
The program includes an overview of the current business environment and expectations for next year. Total market demand is still anticipated to be slightly positive in the fourth quarter. Market demand in 2014 is also expected to be slightly positive, with growth in North America and Asia Pacific partly offset by a flat market in Europe and a slowdown in Brazil from the high levels seen in 2013. Other factors affecting Electrolux in 2014 include a slightly positive price/mix development, with a negative price trend in Europe mitigated by a positive product mix. Cost savings will be approximately 1 billion SEK for the full year. Investments in R&D and marketing will be slightly higher than in 2013, mainly as a result of marketing costs related to product launches in Asia and higher global R&D spending. The impact on earnings from raw material costs is estimated to be roughly flat.
In addition to Keith McLoughlin, presentations will be held by Tomas Eliasson, Chief Financial Officer, Jan Brockmann, Chief Technology Officer, Jonas Samuelson, Head of Major Appliances Europe, Middle East and Africa, and Frank Wagner, SVP Global Manufacturing Operations. The afternoon is dedicated to presentations by Jack Truong, Head of Major Appliances North America, and members of the sector’s management team.
For further information
Contact Electrolux Press Hotline, +46 8 657 65 07.
Electrolux discloses the information provided herein pursuant to the Securities Market Act and/or the Financial Instruments Trading Act. The information was submitted for publication at 10.00 CET on November 13, 2013.