Electrolux hosts Capital Markets Day
Electrolux management is presenting parts of the Group’s strategy at its Capital Markets Day today. This includes continued focus on cost efficiency and objectives for achieving a growth rate of more than 4% per year. Management will also discuss the ongoing progress of the Group’s global initiatives, which are estimated to result in annual savings of approximately SEK 2.0 – 2.5 billion from 2015.
Today’s presentations will explore the annual growth target of more than 4% and how it will be achieved. Experiences will also be shared from Latin America, where Electrolux doubled its value market share in Brazil from 1999 to 2009.
In addition, management will make a presentation focusing on the implementation of global initiatives, including the Electrolux organization comprising R&D, manufacturing and purchasing for its major appliances operations. Through global initiatives, Electrolux will further reduce costs by capitalizing on its shared global strength and scope. This will be accomplished by unlocking synergies, increasing modularization and optimizing global purchasing. The initiatives are expected to generate annual cost savings of approximately SEK 2.0 – 2.5 billion with full effect as of 2015 and will contribute to maintaining the competitiveness of Electrolux. Costs for the global initiatives are estimated at approximately SEK 500m per year for 2011 and 2012.
For further information, contact Electrolux Press Hotline, 46 8 657 65 07.
Electrolux is a global leader in household appliances and appliances for professional use, selling more than 40 million products to customers in more than 150 markets every year. The company focuses on innovations that are thoughtfully designed, based on extensive consumer insight, to meet the real needs of consumers and professionals. Electrolux products include refrigerators, dishwashers, washing machines, vacuum cleaners and cookers sold under esteemed brands such as Electrolux, AEG-Electrolux, Eureka and Frigidaire. In 2009 Electrolux had sales of SEK 109 billion and 51,000 employees. For more information go to www.electrolux.com/press and www.electrolux.com/news.
Electrolux may be required to disclose the information provided herein pursuant to the Securities Market Act.