Electrolux AB (OTCPK:ELRXF)

$ 7.42 0 (0%) Market Cap: 2.36 Bil Enterprise Value: 5.00 Bil PE Ratio: 0 PB Ratio: 3.07 GF Score: 71/100

Q1 2020 Electrolux AB Earnings Call Transcript

May 07, 2020 / 07:00AM GMT

Release Date Price: $13.51

Transcript

Jonas Samuelson;publ;President

AB Electrolux;CEO & Director

()- -

Good morning, and a warm welcome to the First Quarter 2020 Electrolux Results Presentation. With me today, I have our CFO, Therese Friberg; and our Head of Investor Relations, Sophie Arnius.

Before I start, I'd like to mention that this session is recorded and will be available on our website as an on-demand version. I also want to highlight that this presentation will be slightly longer than normal due to the coronavirus situation, which will require us to be efficient in questions asked later on.

Let me begin by updating you on the Q1 impact of the coronavirus pandemic. In several of our main markets, both demand and production have been severely impacted by the strict lockdowns initiated from mid-March in many of our key markets, resulting in factory and retail shop closures. We've seen a significant increase in online sales, but not enough to materially offset physical retail.

The initial outbreak in China caused delays in component of finished good deliveries and

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