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Q1 Results,
April 27, 2011
Keith McLoughlin,
President and CEO
Jonas Samuelson, CFO & COO
Peter Nyquist, SVP IR
Q1 Highlights

EBIT (SEKm)                                                         Margin (%)
2500                                                                         10   Net sales increased by 1%
                                                                             8
                                                                                  in comparable currencies
2000
             5,3
                                                                                  – Growth in major markets
                                                                             6

1500
                                                                    3,0      4
                                                                                  EBIT of SEK 696m
                                                                                  – Raw-material headwinds
                                                                             2
1000
                                                                                  – Price pressure
                                                                             0
500                                                                               – Cost measures
                                                                             -2
                                                                                  – Mix improvement
   0                                                                         -4
                          2010                                     2011           Price increases going
        (SEKm)                                           Q1 2011   Q1 2010        forward
        Sales                                             23,436    25,133

        EBIT*                                               696      1,326
        Margin                                             3.0%      5.3%
       *) EBIT excluding items affecting comparability
                                                                                                              2
Q1 Operating cash flow


 Operating cash flow amounted to SEK -1.3 billion
 Q1 seasonally weakest quarter
 Lower operating income
 Higher tax payments
 Continued favorable development of net operating working capital
   – Receivables positive, collection from high sales in November-December
 Outlays for the ongoing restructuring and cost-cutting programs
 amounted to approximately SEK -220m
 Investments during the first quarter mainly referred to new
 products

                                                                             3
Consumer Durables
 Major Appliances Europe,
 Middle East & Africa
EBIT (SEKm)                       Margin (%)    Lower sales as a result of
1500                                       12
                                                lower volumes and prices
                                           10   Lower EBIT
1000                                       8
                                                – Lower volumes
          5,6
                                                – Price pressure
                                           6
                                  4,1
                                                – Higher raw-material costs
 500                                       4    Mix improvement
                                           2    – The AEG launch continues

   0                                       0
                2010             2011

       (SEKm)          Q1 2011   Q1 2010

       Sales             7,656     8,921

       EBIT               311       499
       Margin            4.1%      5.6%

                                                                              4
Increased growth in Eastern
 Europe

                           Quarterly comparison, year over year

   10%

    5%

    0%

    -5%

  -10%

  -15%
                  2006                2007                2008                2009                  2010           2011

            Q1   Q2   Q3    Q4   Q1   Q2   Q3   Q4   Q1   Q2   Q3   Q4   Q1   Q2   Q3    Q4    Q1   Q2   Q3   Q4   Q1

W. Europe   4%   1%   1%    5% 1%     1%   -1% -5% -4%    -4% -5% -8%    -9% -9%   -4%   -2%   1%   0%   0%   0%   -2%

E. Europe   1%   9%   6%    7% 14%    5%   5% 10%    6%   5%   4% -15% -31% -30% -26% -17% -7%      1%   5% 13%    13%

                                                                                                                         5
6
Consumer Durables
Major Appliances North America

EBIT (SEKm)                      Margin (%)
600                                        6
                                                Market growth
                                                Higher net sales in
         4,1

400                                        4
                                                comparable currencies
                                                EBIT declined to SEK -71m
                                                – Price pressure
200                                        2
                                                – Higher raw-material costs
                                                Improved mix
  0                                        0
                                                Price increases from April 4
                                  -1,1          – 3-5%
-200                                       -2
                2010             2011
       (SEKm)          Q1 2011   Q1 2010

       Sales             6,728     7,305

       EBIT                -71       299
       Margin            -1.1%      4.1%

                                                                               7
North America grew by 1%
in Q1

             Quarterly comparison, year-over-year

15%
10%
 5%
 0%
-5%
-10%
-15%
-20%
       Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
          2006        2007        2008        2009        2010    2011




                                                                  8
Consumer Durables
 Major Appliances Latin America

EBIT (SEKm)                      Margin (%)
500                                       10,0
                                                 Market growth in Brazil and in
                                                 rest of Latin America
400
                                          7,5
                                                 EBIT declined to SEK 139m
                                                 – Negative customer mix due to
300     5,4
                                                   consolidation of retailers
                                          5,0
                                 3,5
                                                 – Increased raw-material costs
200
                                                 Price increases going forward
                                          2,5
100



  0                                       0,0
               2010             2011


      (SEKm)          Q1 2011   Q1 2010

      Sales             3,998     3,796

      EBIT               139       206
      Margin            3.5%      5.4%
                                                                                  9
Consumer Durables
 Major Appliances Asia/Pacific

EBIT (SEKm)                      Margin (%)
300                                       14,0
                                                 Market growth in Australia and
                                                 improved EBIT
                                          12,0
                                 10,0            – Positive currency impact
                                          10,0
200     8,7                                      – Improved efficiency
                                          8,0    – Increased raw-material costs
                                          6,0    – Increased price pressure
100
                                          4,0    Southeast Asia and China
                                          2,0    – Market-share gain in strong
                                                   markets
  0                                       0,0
               2010             2011

      (SEKm)          Q1 2011   Q1 2010

      Sales             1,746     1,666

      EBIT               174        145
      Margin           10.0%      8.7%

                                                                                  10
Consumer Durables
 Small Appliances
EBIT (SEKm)                        Margin (%)

 400                                       15,0
                                                  Separately reported from
 350
                                                  Q1 2011 and onwards
                                           12,0
 300
         10,9
                                                  Higher sales
 250                                       9,0    Lower EBIT
 200
                                  5,9             – Increased sourcing costs
 150                                       6,0
                                                  – Currency headwind
 100
                                           3,0    – Higher raw-material costs
  50

   0                                       0,0
                                                  Good market acceptance for
                2010             2011             previous launches

       (SEKm)          Q1 2011   Q1 2010

       Sales             1,930     1,936

       EBIT               114       211
       Margin            5.9%     10.9%

                                                                                11
Professional Products
 Food-service & Laundry products

EBIT (SEKm)                        Margin (%)

 300                                          15,0
                                                     Lower sales but improved
                                  12,8               EBIT for Food-service
 250
                                              12,0   – Positive effect of SEK 50m
 200                                                   related to a divestment
                                              9,0
 150
                                                     – Higher share of own-
         6,1
                                              6,0      manufactured products
 100
                                                     – Price increases
                                              3,0
  50                                                 – Improved capacity utilization
   0                                          0,0    Higher sales and EBIT for
                2010             2011
                                                     Laundry products
                                                     – Higher volumes
       (SEKm)          Q1 2011   Q1 2010

       Sales             1,378     1,501             – Price increases
       EBIT               177            91
       Margin           12.8%      6.1%

                                                                                       12
Q2 and FY 2011
In accordance with forward-looking statements
in the CEO letter


                           Q2           2011 FY         Comment

                                                   Tough comparables
Volumes                  Higher         Higher
                                                   in US in Q2
                        Slightly                   Price increases in US, price
Price                                  H2 higher
                        negative                   pressure in Europe in Q2
                                                   Continued mix improvement
Mix                      Positive       Positive
                                                   from product launches
                                                   2011: SEK 2 billion cost
Raw-material costs       Higher         Higher
                                                   increase compared to 2010
Costs from Global                                  Approximately evenly
                       SEK 125m       SEK 500m
Operations                                         distributed between quarters
 Manufacturing                                     Approximately evenly
                       SEK 125m       SEK 500m
 footprint savings                                 distributed between quarters


                                                                             13
14
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.

                                                                                    15

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Electrolux Interim Report Q1 2011 Presentation

  • 1. Q1 Results, April 27, 2011 Keith McLoughlin, President and CEO Jonas Samuelson, CFO & COO Peter Nyquist, SVP IR
  • 2. Q1 Highlights EBIT (SEKm) Margin (%) 2500 10 Net sales increased by 1% 8 in comparable currencies 2000 5,3 – Growth in major markets 6 1500 3,0 4 EBIT of SEK 696m – Raw-material headwinds 2 1000 – Price pressure 0 500 – Cost measures -2 – Mix improvement 0 -4 2010 2011 Price increases going (SEKm) Q1 2011 Q1 2010 forward Sales 23,436 25,133 EBIT* 696 1,326 Margin 3.0% 5.3% *) EBIT excluding items affecting comparability 2
  • 3. Q1 Operating cash flow Operating cash flow amounted to SEK -1.3 billion Q1 seasonally weakest quarter Lower operating income Higher tax payments Continued favorable development of net operating working capital – Receivables positive, collection from high sales in November-December Outlays for the ongoing restructuring and cost-cutting programs amounted to approximately SEK -220m Investments during the first quarter mainly referred to new products 3
  • 4. Consumer Durables Major Appliances Europe, Middle East & Africa EBIT (SEKm) Margin (%) Lower sales as a result of 1500 12 lower volumes and prices 10 Lower EBIT 1000 8 – Lower volumes 5,6 – Price pressure 6 4,1 – Higher raw-material costs 500 4 Mix improvement 2 – The AEG launch continues 0 0 2010 2011 (SEKm) Q1 2011 Q1 2010 Sales 7,656 8,921 EBIT 311 499 Margin 4.1% 5.6% 4
  • 5. Increased growth in Eastern Europe Quarterly comparison, year over year 10% 5% 0% -5% -10% -15% 2006 2007 2008 2009 2010 2011 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 W. Europe 4% 1% 1% 5% 1% 1% -1% -5% -4% -4% -5% -8% -9% -9% -4% -2% 1% 0% 0% 0% -2% E. Europe 1% 9% 6% 7% 14% 5% 5% 10% 6% 5% 4% -15% -31% -30% -26% -17% -7% 1% 5% 13% 13% 5
  • 6. 6
  • 7. Consumer Durables Major Appliances North America EBIT (SEKm) Margin (%) 600 6 Market growth Higher net sales in 4,1 400 4 comparable currencies EBIT declined to SEK -71m – Price pressure 200 2 – Higher raw-material costs Improved mix 0 0 Price increases from April 4 -1,1 – 3-5% -200 -2 2010 2011 (SEKm) Q1 2011 Q1 2010 Sales 6,728 7,305 EBIT -71 299 Margin -1.1% 4.1% 7
  • 8. North America grew by 1% in Q1 Quarterly comparison, year-over-year 15% 10% 5% 0% -5% -10% -15% -20% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2006 2007 2008 2009 2010 2011 8
  • 9. Consumer Durables Major Appliances Latin America EBIT (SEKm) Margin (%) 500 10,0 Market growth in Brazil and in rest of Latin America 400 7,5 EBIT declined to SEK 139m – Negative customer mix due to 300 5,4 consolidation of retailers 5,0 3,5 – Increased raw-material costs 200 Price increases going forward 2,5 100 0 0,0 2010 2011 (SEKm) Q1 2011 Q1 2010 Sales 3,998 3,796 EBIT 139 206 Margin 3.5% 5.4% 9
  • 10. Consumer Durables Major Appliances Asia/Pacific EBIT (SEKm) Margin (%) 300 14,0 Market growth in Australia and improved EBIT 12,0 10,0 – Positive currency impact 10,0 200 8,7 – Improved efficiency 8,0 – Increased raw-material costs 6,0 – Increased price pressure 100 4,0 Southeast Asia and China 2,0 – Market-share gain in strong markets 0 0,0 2010 2011 (SEKm) Q1 2011 Q1 2010 Sales 1,746 1,666 EBIT 174 145 Margin 10.0% 8.7% 10
  • 11. Consumer Durables Small Appliances EBIT (SEKm) Margin (%) 400 15,0 Separately reported from 350 Q1 2011 and onwards 12,0 300 10,9 Higher sales 250 9,0 Lower EBIT 200 5,9 – Increased sourcing costs 150 6,0 – Currency headwind 100 3,0 – Higher raw-material costs 50 0 0,0 Good market acceptance for 2010 2011 previous launches (SEKm) Q1 2011 Q1 2010 Sales 1,930 1,936 EBIT 114 211 Margin 5.9% 10.9% 11
  • 12. Professional Products Food-service & Laundry products EBIT (SEKm) Margin (%) 300 15,0 Lower sales but improved 12,8 EBIT for Food-service 250 12,0 – Positive effect of SEK 50m 200 related to a divestment 9,0 150 – Higher share of own- 6,1 6,0 manufactured products 100 – Price increases 3,0 50 – Improved capacity utilization 0 0,0 Higher sales and EBIT for 2010 2011 Laundry products – Higher volumes (SEKm) Q1 2011 Q1 2010 Sales 1,378 1,501 – Price increases EBIT 177 91 Margin 12.8% 6.1% 12
  • 13. Q2 and FY 2011 In accordance with forward-looking statements in the CEO letter Q2 2011 FY Comment Tough comparables Volumes Higher Higher in US in Q2 Slightly Price increases in US, price Price H2 higher negative pressure in Europe in Q2 Continued mix improvement Mix Positive Positive from product launches 2011: SEK 2 billion cost Raw-material costs Higher Higher increase compared to 2010 Costs from Global Approximately evenly SEK 125m SEK 500m Operations distributed between quarters Manufacturing Approximately evenly SEK 125m SEK 500m footprint savings distributed between quarters 13
  • 14. 14
  • 15. 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. 15