On April 29, 2022, Electrolux launched a share buyback program of a maximum of 8,000,000 series B shares for a total maximum amount of SEK 1,250m, which was completed on September 2, 2022. The objective of the share buybacks is to optimize the company’s capital structure and the intention is to reduce Electrolux number of shares through subsequent share cancellations, which will further improve earnings per share.
During the period May 2, 2022 – September 2, 2022 Electrolux repurchased in total 8,000,000 own series B shares for a total amount of SEK 1,138m.
All acquisitions have been carried out on Nasdaq Stockholm by Citigroup Global Markets Europe AG on behalf of Electrolux. The share buyback program has been carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 (”MAR”) and the Commission Delegated Regulation (EU) No 2016/1052 (the “Safe Harbour Regulation”).
Given the current market environment, the Board does not intend to initiate additional share buybacks before the AGM 2023. However, the Board’s intention is to continue with share buybacks over time.