STOCKHOLM–(BUSINESS WIRE)–Regulatory News:
The favorable market development for Electrolux (STO:ELUXA)
(STO:ELUXB) largest business areas Major Appliances EMEA and Major
Appliances North America is expected to continue in 2016. Overall global
demand for appliances is forecast to be slightly positive.
Demand for appliances in Western Europe is expected to continue to
improve and grow in the range of 2 – 3% for the full year 2016. Demand
in Eastern Europe is expected to increase by approximately 2%, although
there remains a high degree of uncertainty regarding the development in
Russia and Ukraine. Demand in North America has improved for the past
three years. We expect a continued stable development and forecast
growth of 2 – 4% for 2016. A continued weak macro-economic outlook in
Brazil is expected to have a negative impact on market volumes.
Other factors affecting Electrolux in 2016 include an expected positive
price/mix development for the Group. Currency headwinds, mainly in
Brazil, will continue to be mitigated with price increases. For 2016, at
current currency rates, a negative transaction impact for the Group of
SEK 1.5 bn is expected.
Raw material costs have been trending downward and are expected to have
a continued positive impact in 2016 of about SEK 550m. Cost savings are
estimated to contribute positively in the amount of SEK 750m for the
full year. The Group’s capital expenditure level remains stable and is
expected to amount to approximately SEK 4 bn in 2016.
Electrolux continues to step up investments in innovation, product
development, design and marketing to support future product launches,
with the aim to reach the vision of being the best appliance company in
the world as measured by our customers, employees and shareholders.
Electrolux discloses the information provided herein pursuant to the
Securities Market Act and/or the Financial Instruments Trading Act. The
information was submitted for publication at 17.30 CET on November 30,
Electrolux is a global leader in home appliances, based on deep consumer
insight and developed in close collaboration with professional users. We
offer thoughtfully designed, innovative solutions for households and
businesses, with products such as refrigerators, dishwashers, washing
machines, cookers, vacuum cleaners, air conditioners and small domestic
appliances. Under esteemed brands including Electrolux, AEG, Zanussi,
Frigidaire and Electrolux Grand Cuisine, the Group sells more than 50
million products to customers in more than 150 markets every year. In
2014, Electrolux had sales of SEK 112 billion and 60,000 employees. For
more information go to www.electroluxgroup.com.
This information was brought to you by Cision http://news.cision.com
Vice President Investor Relations
(0)8 738 60 87
Electrolux Press Hotline
46 8 657 65 07.