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

Q3 2024 Electrolux AB Earnings Call Transcript

Oct 25, 2024 / 07:00AM GMT

Release Date Price: $9.5

Transcript

Jonas Samuelson

Electrolux AB - President, Chief Executive Officer, Director

Good morning and a warm welcome to the third quarter 2024 results presentation. With me today I have Therese Friberg, 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.

Organic sales increased by 6.2%, driven by higher volumes in all the group's business areas. Organic growth was strong in left in America, especially in Brazil, which continues on the trajectory started in the fourth quarter of 2023. In Europe, market demand declined slightly, with continued weakness in the important built-in kitchen category. Despite challenging market conditions, volume and mix were favorable, supported by the attractive product offer in the mass premium segment.

Price was negative. partly as a consequence of weak consumer demand in Europe; however, less negative than the market as a whole. In the US, promotional activity increased year over year, although continued to stabilize consequentially.

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