Electrolux AB (OTCPK:ELRXF)

$ 7.42 0 (0%) Market Cap: 2.37 Bil Enterprise Value: 4.92 Bil PE Ratio: 0 PB Ratio: 3.07 GF Score: 71/100

Q2 2024 Electrolux AB Earnings Call Transcript

Jul 19, 2024 / 07:00AM GMT

Release Date Price: $8.06

Transcript

Jonas Samuelson

Electrolux AB - President, Chief Executive Officer, Director

Good morning and a warm welcome to the second quarter 2024 results presentation. My name is Jonas Samuelson. And with me today, I have Therese Friberg, our CFO; and Oscar Stjerngren from Investor Relations.

Before I continue, I'd like to mention that this session is recorded and will be available on our website as an on-demand version.

In the second quarter sales grew 7% organically with volume growth in all business areas. Market demand was mixed with strong growth in Brazil, some catch-up in North America from the weak sell-in in Q1, and continued negative development in Europe.

Mix continued to be positive, supported by our strong product offering in mid and premium segments despite the negative market demand mix pressure. Pricing continues to be quite negative year over year, but was sequentially relatively stable in most markets.

We're happy to report that EBIT improved sequentially by more than SEK1 billion to SEK419 million, mainly driven by significantly reduced losses in North

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