Aktiebolaget Electrolux Stock Price, News & Analysis

Frigidaire, owned by Electrolux Group (OTCMKTS: ELUXY), launches its new brand marketing campaign 'Daire to Expect More' celebrating over 100 years of innovation in home appliances. The campaign features creative taglines like 'Daire to Evolve,' 'Daire to Think Big,' 'Daire to Maximize,' and 'Daire to Be Versatile.'

The hero ad spot showcases a transition from a 1950s kitchen to a modern family setting, emphasizing the brand's evolution. Consumer testing through Kantar revealed exceptional results, with the campaign rated 95% more meaningful, 96% more different, and 92% more persuasive compared to previous campaigns.

The campaign will be distributed across streaming platforms, broadcast TV, digital display, and social media, highlighting Frigidaire's innovative features like Custom-Flex® Temp Drawer, SpaceWise® Organization System, and CrispSeal® Crispers.

Electrolux Group has announced its decision to retain its business operations in Egypt following a strategic evaluation of alternatives. The company determined that maintaining the Egyptian business within the Group would generate higher value. The Egyptian operations, which include sales and production of major appliances and water heaters, are profitable and feature strong, well-established brands.

CEO Yannick Fierling stated that the company aims to capitalize on Egypt's growing market, increase market share, and expand exports from the region. This announcement effectively closes the divestment program that was initially announced on July 20, 2023.

Electrolux will release its Q2 2022 results on July 21, 2022, at approximately 08:00 CEST. A conference call hosted by Jonas Samuelson, President and CEO, along with Therese Friberg, CFO, will follow at 09:00 CEST. Investors can access presentation slides on Electrolux's website. For call participation, international numbers are provided alongside a pin code. For further inquiries, contact Sophie Arnius in Investor Relations.

Electrolux announced the conversion of 41 Series A shares to Series B shares in September 2021, as requested by shareholders. This conversion led to a total voting power of 38,265,279 votes in the company. Currently, Electrolux has 308,920,308 registered shares, consisting of 8,192,498 Series A shares and 300,727,810 Series B shares. This process reduces the total number of votes within the company, which is significant for shareholders concerned about voting power.

The Extraordinary General Meeting of Electrolux on August 27, 2021, approved a total distribution of SEK 4,886 million (SEK 17.00 per share) to shareholders through an automatic redemption procedure. This includes a 2:1 share split and a reduction in share capital. Key dates include:

• October 1: Last trading day including redemption right.
• October 4: First trading day post-split.
• October 28: Payment of redemption amount.

Electrolux has also sought a listing for the redemption shares on Nasdaq Stockholm.

Electrolux reveals insights from a global study involving nearly 14,000 young individuals, highlighting their commitment to sustainability. The study shows that 37% trust in themselves to drive change, while only 10% rely on adults. 43% believe young people will solve the climate crisis. Suggestions for sustainable living include education (73%) and green innovations (69%). The study influences Electrolux's 2030 sustainability targets, focusing on better living solutions. Young people's preferences emphasize producing food, recycling waste, and repairing clothes as key aspects of their future lifestyles.

The Nomination Committee for Electrolux's Annual General Meeting 2022 has been appointed, consisting of six members. The committee includes representatives from the company's four largest shareholders and additional Board members. Johan Forssell from Investor AB chairs the committee, which also features members from Alecta, AMF Försäkring och Fonder, and Swedbank Robur Funds. The committee will propose candidates and discuss remuneration for Board members and auditors for the meeting scheduled on March 30, 2022, in Stockholm, Sweden.

Electrolux reported a strong Q2 2021, with net sales rising to SEK 30,303m, reflecting an organic sales growth of 39.1%. Operating income surged to SEK 1,983m, yielding a margin of 6.5%. The net income for the period was SEK 1,383m, translating to earnings per share of SEK 4.81. The company has introduced a new dividend policy targeting around 50% of annual income and proposed a SEK 17 redemption per share. However, challenges persist in meeting market demands due to global supply shortages, particularly in electronic components.