Electrolux AB

Latest Results (14.08.2024):

Net Sales

In Q2 2024, Electrolux AB reported net sales of SEK 33,819 million, up from SEK 32,653 million in Q2 2023. The 6.8% increase in organic sales was driven by higher volumes across all business areas, despite a negative impact from pricing. The improved mix was supported by new modularized platforms and an attractive product offering.

Operating Income

Electrolux AB's operating income for Q2 2024 amounted to SEK 419 million, a significant improvement from the SEK -124 million reported in Q2 2023. This corresponds to an operating margin of 1.2%, compared to -0.4% in the previous year. Excluding nonrecurring items, earnings were SEK 519 million, with higher volumes and improved mix partly offsetting negative price impacts.

Regional Performance

Electrolux AB saw strong performance in Latin America during Q2 2024, with high organic sales growth and a rolling 12-month operating margin of 7%. However, the European market remained weak, particularly in the built-in kitchen categories. The company also noted a significant reduction in losses in North America compared to the first quarter of 2024.

Income and Earnings Per Share

For Q2 2024, Electrolux AB reported a net income of SEK -80 million, an improvement from SEK -648 million in Q2 2023. Earnings per share were SEK -0.30, up from SEK -2.40 in the same period last year. The improvement reflects better operating performance and cost efficiencies.

Operating Cash Flow

Electrolux AB's operating cash flow after investments was SEK 1,226 million in Q2 2024, compared to SEK 3,137 million in Q2 2023. The cash flow for the second quarter of 2024 reflected a normal seasonal pattern, contributing positively to the company's liquidity position.