Download to read offline
Uploaded byElectrolux Group
Electrolux - Interim Report Q3 2017 - Presentation
Electrolux reported a 5.0% decline in sales for Q3 2017 compared to Q3 2016, with organic growth at -3.2% and a notable increase in EBIT of 7.3% to 1,960 million SEK. The overall performance reflects a challenging market, particularly in Europe and North America, despite positive trends in some regions like Latin America and East Asia. Earnings per share also improved by 12.5% to 4.96 SEK, highlighting increased operational efficiency.
Electrolux - Interim Report Q3 2017 - Presentation
- 2. (SEKm) Q3 2017Q3 2016 Change Sales 29,309 30,852 -5.0% Organic growth -3.2% Acquisitions 1.8% Divestments -0.4% Currency -3.2% EBIT 1,960 1,826 7.3% Margin 6.7% 5.9% 0.8pts EPS 4.96 4.41 12.5% • – – – • – – – 2 EBIT* % 12m rolling 0 1 2 3 4 5 6 Q114 Q214 Q314 Q414 Q115 Q215 Q315 Q415 Q116 Q216 Q316 Q416 Q117 Q217 Q317 ELECTROLUX Q3 2017 PRESENTATION *EBIT excludes material profit and loss items for 2014 and costs for GE Appliances for 2014 and 2015. See page 23 in the interim report.
- 3. • – – • – • – – 3 ELECTROLUX Q32017 PRESENTATION
- 4. • – – – • – – – 4 ELECTROLUX Q32017 PRESENTATION (SEKm) Q3 2017 Q3 2016 Change Sales 9,422 9,579 -1.6% Organic growth -1.1% Acquisitions 2.5% Currency -3.0% EBIT 749 680 10.1% Margin 7.9% 7.1% 0.8pts 0 2 4 6 8 Q114 Q214 Q314 Q414 Q115 Q215 Q315 Q415 Q116 Q216 Q316 Q416 Q117 Q217 Q317 EBIT % 12m rolling *EBIT excludes material profit and loss items for 2014. See page 23 in the interim report.
- 5. -20% -15% -10% -5% 0% 5% 10% 5 2007 2008 20092010 2011 2012 2013 W. Eur. +1 +1 -1 -5 -4 -4 -5 -8 -9 -9 -4 -2 +1 0 0 0 -2 -2 -3 -3 -2 -4 -2 -2 -3 0 -1 -1 +2 +1 +1 +3 +4 +4 +5 +3 +3 +5 0 +2 -1 -1 +1 E. Eur. +14 +5 +5 +10 +6 +5 +4 -15 -31 -30 -26 -17 -7 +1 +5 +13 +13 +12 +7 +9 +5 +3 +2 +2 +3 +2 +1 -2 +4 +1 -4 +1 -10 -23 -15 -24 0 +4 +2 +5 +3 +5 +2 2014 2015 ELECTROLUX Q3 2017 PRESENTATION 2016 2017
- 6. • – – • – – – 6 (SEKm) Q3 2017Q3 2016 Change Sales 9,544 11,189 -14.7% Organic growth -10.8% Currency -3.9% EBIT 719 824 -12.7% Margin 7.5% 7.4% 0.1pts 0 2 4 6 8 10 Q114 Q214 Q314 Q414 Q115 Q215 Q315 Q415 Q116 Q216 Q316 Q416 Q117 Q217 Q317 EBIT* % 12m rolling ELECTROLUX Q3 2017 PRESENTATION *EBIT excludes costs for GE Appliances for 2014 and 2015. See page 22 in the interim report.
- 7. -20% -15% -10% -5% 0% 5% 10% 15% 7 2007 2008 20092010 2011 2012 2013 2014 2015 2016 ELECTROLUX Q3 2017 PRESENTATION 2017
- 8. • – – – • – – – 8 (SEKm) Q3 2017Q3 2016 Change Sales 4,132 3,968 4.1% Organic growth 7.4% Currency -3.3% EBIT 77 19 n.m. Margin 1.9% 0.5% 1.4pts -2 0 2 4 6 8 10 Q114 Q214 Q314 Q414 Q115 Q215 Q315 Q415 Q116 Q216 Q316 Q416 Q117 Q217 Q317 EBIT % 12m rolling ELECTROLUX Q3 2017 PRESENTATION
- 9. • – – – • – – 9 (SEKm) Q3 2017Q3 2016 Change Sales 2,415 2,515 -4.0% Organic growth -1.6% Acquisitions 0.5% Currency -2.9% EBIT 214 208 2.9% Margin 8.9% 8.3% 0.6pts 0 2 4 6 8 Q114 Q214 Q314 Q414 Q115 Q215 Q315 Q415 Q116 Q216 Q316 Q416 Q117 Q217 Q317 EBIT % 12m rolling ELECTROLUX Q3 2017 PRESENTATION
- 10. • – – – • – – 10 (SEKm) Q3 2017Q3 2016 Change Sales 1,898 1,960 -3.1% Organic growth -0.8% Acquired growth 5.6% Divestments -5.9% Currency -2.0% EBIT 80 34 n.m. Margin 4.2% 1.7% 2.5pts -2 0 2 4 6 Q114 Q214 Q314 Q414 Q115 Q215 Q315 Q415 Q116 Q216 Q316 Q416 Q117 Q217 Q317 EBIT % 12m rolling ELECTROLUX Q3 2017 PRESENTATION
- 11. • – – – • – – 11 (SEKm) Q3 2017Q3 2016 Change Sales 1,897 1,641 15.6% Organic growth 6.4% Acquisitions 11.5% Currency -2.3% EBIT 272 234 16.2% Margin % 14.3% 14.3% 0.0pts 0 2 4 6 8 10 12 14 16 Q114 Q214 Q314 Q414 Q115 Q215 Q315 Q415 Q116 Q216 Q316 Q416 Q117 Q217 Q317 EBIT % 12m rolling ELECTROLUX Q3 2017 PRESENTATION
- 13. SEKm Q3 2017Q3 2016 Change % Net Sales 29,309 30,852 -5.0 Organic % -3.2 -1.6 Acquisitions / divestments % 1.4 0.0 Currency -3.2 0.2 Gross operating income 6,110 6,600 -7.4 Gross operating margin % 20.8 21.4 -0.6pts EBIT 1,960 1,826 7.3 EBIT margin % 6.7 5.9 0.8pts Op. cash flow after investments 2,287 2,965 -22.9 EPS 4.96 4.41 12.5 13 ELECTROLUX Q3 2017 PRESENTATION
- 14. SEKm Q3 Net Cost Efficiency Currency* Acq/** Divest. OtherQ3 2017 Net Sales 30,852 -944 -1,021 422 29,309 Growth -3.2% -3.2% 1.4% -5.0% EBIT 1,826 -507 -410 1,215 -189 25 1,960 EBIT % Accretion /Dilution 5.9% -1.5% -1.4% 4.1% -0.4% 0.0% 6.7% 14 ELECTROLUX Q3 2017 PRESENTATION *Currency includes SEK -40m of currency translation and -149m of transaction effect on EBIT. **Acquisitions/divestments includes the acquisition of Kwikot, Best, Vintec, Anova and Grindmaster-Cecilware and the sale of Eureka.
- 15. 15 ELECTROLUX Q32017 PRESENTATION
- 16. SEKm 2017 Q32016 Q3 EBIT 1,960 1,826 D/A and other non-cash items 942 1,040 Change in operating assets and liabilities 584 848 Investments in intangible and tangible assets -1,135 -799 Other investments -64 50 Cash flow after investments* 2,287 2,965 16 ELECTROLUX Q3 2017 PRESENTATION *Before acquisitions and divestments
- 18. Region Q4 2017FY 2017 Comments Europe Stable ~1% Positive overall demand trend, UK remains weak North America Slightly Positive +3-4% Demand trend remains positive Latin America Positive Stable Market recovery in the region East Asia Slightly Positive Positive East Asia in general positive Australia Slightly Positive Positive Market is estimated to be positive 18 ELECTROLUX Q3 2017 PRESENTATION
- 19. Electrolux Q4 2017FY 2017 Comments for the full-year 2017 Volume/price/mix Slightly Positive Slightly Negative Volume decline and price pressure partly offset by mix Raw materials Negative Negative Raw materials ≈ SEK -1.4bn Net cost efficiency Positive Positive Net cost efficiency ≈ SEK 3.0bn Currency transactional effect* SEK +255m SEK -90m Headwinds in NA, EMEA and net positive in Latin America Currency translational effect* SEK -80m SEK -10m Capex Slightly up Slightly up FY 2017 ≈ SEK 4bn 19 ELECTROLUX Q3 2017 PRESENTATION * Currency rates as per September 29, 2017
- 20.
- 21. • • • • • • • 21 ELECTROLUX Q32017 PRESENTATION
- 22.
- 23. 23 ELECTROLUX Q32017 PRESENTATION