Electrolux Interim Report Q2 2009 Presentation

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Highlights of the second quarter of 2009. Net sales amounted to SEK 27,482m (25,587) and income for the period to SEK 658m (99), or SEK 2.32 (0.36) per share. Net sales declined by 8.4%, in comparable currencies, due to continued sharp market downturn in Electrolux main markets.

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Electrolux Interim Report Q2 2009 Presentation

  1. 1. Q2 Results, July 16, 2009 Hans Stråberg, President and CEO Jonas Samuelson, CFO Peter Nyquist, IR
  2. 2. Q2 Highlights EBIT (SEKb) EBIT margin (%) EBIT improved by 30% 2500 10% In weak markets, Europe and 2000 8% North America improved results – Cost savings 1500 6% – Lower raw-material costs 1000 4% – Price increases 500 2% Continued market-share gain in 0 0% North America. -500 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 -2% Improved operating income in 2007 2008 2009 Latin America -1000 -4% Solid performance by the rest of the Group in difficult markets (SEKm) Q2 2008 Q2 2009 Continued strong cash flow Sales 25,587 27,482 EBIT* 793 1,027 Margin 3.1% 3.7% *Excluding items affecting comparability 2
  3. 3. Cash flow per quarter Cash flow from operations and investments (SEK m) 4000 Q2, 2009 3000 2000 1000 Q1, 2009 0 -1000 Q1 Q2 Q3 Q4 2009 2008 2007 3
  4. 4. Consumer Durables Europe EBIT (SEKm) EBIT margin (%) Weak market impacted sales 1000 negatively 800 10% Improved results for core 600 400 5% appliances 200 – Cost savings 0 0% – Price increases Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 -200 – Savings on components and -400 2007 2008 2009 -5% raw-material -600 – Mix improvement -800 -10% Weak market demand for (SEKm) Q2 2008 Q2 2009 floor-care products Sales 10,500 9,935 EBIT 294 257 Margin 2.8% 2.6% 4
  5. 5. Market development in Europe Quarterly comparison, year on year 10% 5% 0% -5% -10% -15% 2006 2007 2008 2009 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 West. Europe 4% 1% 1% 5% 1% 1% -1% -5% -4% -4% -5% -8% -9% -9% East. Europe 1% 9% 6% 7% 14% 5% 5% 10% 6% 5% 4% -15% -31% -30% 5
  6. 6. UltraOne 6
  7. 7. Consumer Durables North America EBIT (SEKm) EBIT margin (%) Weak market impacted sales 700 14% negatively 600 12% 500 10% – Lower sales in comparable 400 8% currencies 300 6% 200 4% Improved operating income 100 2% – Cost savings 0 0% – Previous price increases -100 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 -2% -200 2007 2008 2009 -4% – Lower raw-material costs -300 -6% Q2 2008 negatively impacted by Electrolux launch cost (SEKm) Q2 2008 Q2 2009 Market demand for floor-care Sales 8,214 9,848 products is decreasing at lower EBIT 113 498 rate Margin 1.4% 5.1% 7
  8. 8. Market development in North America Quarterly comparison, year on year 10% 5% 0% -5% -10% -15% -20% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2006 2007 2008 2009 8
  9. 9. 9
  10. 10. Electrolux awards 10
  11. 11. Consumer Durables Latin America EBIT (SEKm) EBIT margin (%) Strong market growth in 300 8% Brazil 250 200 6% – Tax reduction on 150 4% domestically-produced 100 appliances 2% 50 Improved operating income 0 0% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 – Higher volumes 2007 2008 2009 – Better customer mix – Continued currency headwinds (SEKm) Q2 2008 Q2 2009 Sales 2,548 3,326 EBIT 133 142 Margin 5.2% 4.3% 11
  12. 12. Consumer Durables Asia/Pacific & Rest of world EBIT (SEKm) EBIT margin (%) Australia/New Zealand 200 8% 180 7% – Market-share gain 160 140 6% – Previous price increases 120 5% 100 4% – Cost reductions 80 60 3% – Negative currency impact 2% 40 20 1% Positive price and mix in 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 0% Southeast Asia 2007 2008 2009 Exit low-price segments and geographies in China (SEKm) Q2 2008 Q2 2009 Sales 2,369 2,521 EBIT 147 104 Margin 6.2% 4.1% 12
  13. 13. Professional Products EBIT (SEKm) EBIT margin (%) Weak market demand 250 14% 200 12% Lower operating income 10% 150 – Lower capacity utilization 8% 100 6% – Positive impact from 50 4% personnel cutbacks and 2% 0 0% lower raw-materials costs Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2007 2008 2009 (SEKm) Q2 2008 Q2 2009 Sales 1,944 1,850 EBIT 225 165 Margin 11.6% 8.9% 13
  14. 14. Market view business areas and raw-materials impact Market demand Q309 FY09 Europe North America Latin America Raw materials Costs for steel 14
  15. 15. 15
  16. 16. Factors affecting forward- looking statements Factors affecting forward-looking statements This presentation contains “forward-looking” statements within the meaning of the US Private Securities Litigation Reform Act of 1995. Such statements include, among others, the financial goals and targets of Electrolux for future periods and future business and financial plans. These statements are based on current expectations and are subject to risks and uncertainties that could cause actual results to differ materially due to a variety of factors. These factors include, but may not be limited to the following: consumer demand and market conditions in the geographical areas and industries in which Electrolux operates, effects of currency fluctuations, competitive pressures to reduce prices, significant loss of business from major retailers, the success in developing new products and marketing initiatives, developments in product liability litigation, progress in achieving operational and capital efficiency goals, the success in identifying growth opportunities and acquisition candidates and the integration of these opportunities with existing businesses, progress in achieving structural and supply-chain reorganization goals. 16
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