{"success":true,"data":{"pressRelease":{"id":"8003","rtpr_id":"nPNA3lFh8a","ticker":"ELUXB","exchange":"Nasdaq Stockholm","all_tickers":["ELUXB"],"title":"Electrolux Group Interim report Q1 2026","author":"PR Newswire","published_at":"2026-04-24T06:14:21.511Z","article_body":"Electrolux Group Interim report Q1 2026\nPR Newswire\n\nSTOCKHOLM, April 24, 2026\n\nSTOCKHOLM, April 24, 2026 /PRNewswire/ --\n\nHighlights of the first quarter of 2026\n* Net sales amounted to SEK 29,543m (32,576) with flat organic sales of -0.5%\n(7.9). Organic sales growth was +3.6% in Europe, Middle East & Africa and Asia\nPacific (EMEA APAC) and +8.0% in Latin America, driven mainly by higher\nvolumes. North America reported an organic sales decline of -11.6%, mainly\nreflecting weaker market conditions.\n* Operating income excluding non-recurring items was SEK 198m (452),\ncorresponding to a margin of 0.7% (1.4). The decline was driven by an\noperating loss in North America, mainly due to increased costs for U.S.\ntariffs and a significant slowdown in market demand. Also, a change in\naccounting estimates for customer rebate provisions reflecting price\nvolatility in prior months and a voluntary recall of a limited number of\nFrigidaire gas ranges, jointly impacted operating income negatively with\napproximately SEK 0.3bn. Regions EMEA APAC and Latin America reported improved\noperating income excluding non-recurring items, with an operating margin of\n4.1% and 7.9%, respectively. Increased cost efficiency contributed\napproximately SEK 0.7bn to Group operating income.\n* Operating income of SEK -266m (452), corresponding to an operating margin of\n-0.9% (1.4) included a negative non-recurring item of SEK -463m related to\npreviously announced actions in region Latin America.\n* Income for the period amounted to SEK -470m (42) and earnings per share were\nSEK -1.74 (0.16).\n* Operating cash flow after investments was SEK -4,566m (-3,107), negatively\nimpacted by an operating loss in North America and a seasonal increase in\nworking capital.\n* Events after the close of the period: Electrolux Group announced on April\n22, it will end production at the Jászberény, Hungary factory. Production is\nexpected to cease by the end of 2026.\n* Electrolux Group on April 23 announced that it has entered into agreements\nwith Midea Group to establish a highly complementary long-term strategic\npartnership in North America.\n* Electrolux Group on April 23 announced that it accelerates its profitable\ngrowth strategy through a partnership with Midea, global organization and\nfootprint optimization, and a fully underwritten rights issue of approx. SEK 9\nbillion.\nPresident and CEO Yannick Fierling's comment\n\nIn recent months we have taken decisive steps to accelerate our profitable\ngrowth strategy. Yesterday initiatives were announced that will fundamentally\nstrengthen Electrolux Group. We are forming a highly complementary, strategic\npartnership with Midea Group in North America. It will accelerate growth,\nimprove profitability and form a strong platform moving forward. We have also\ninitiated efforts to optimize our global manufacturing footprint and improve\nefficiency across the organization. In addition, the Board of Directors have\nresolved on a fully underwritten rights issue of approximately SEK 9bn to\nfinance our profitable growth initiatives and strengthen the Group's balance\nsheet.\n\nThe home appliance industry is undergoing rapid change, with an increasingly\ndynamic market environment. In the first quarter I am pleased we strengthened\nour market positions in Europe and Brazil. Regions EMEA APAC and Latin America\ngrew sales and improved operating income and margin, adjusted for\nnon-recurring items. However, North America reported weaker sales reflecting a\n10% decline in market demand, and an operating loss in the quarter. The\nGroup's ambition for cost reductions remains high and with SEK 0.7bn in the\nfirst quarter, we are on track to reach the cost efficiency outlook of SEK\n3.5-4.0bn for full-year 2026.\n\nEurope, Middle East & Africa and Asia Pacific\n\nDespite a flat European core appliance market in the quarter, organic sales\nincreased. Operating income and margin improved, mainly driven by cost\nefficiency. Volume and mix improved, with increased market shares for the AEG\nand Electrolux brands and a further strengthened position in the important\nbuilt-in kitchen segment.\n\nLatin America\n\nIn Brazil, growth in consumer demand continued and Latin America reported good\norganic growth, with improved operating income and a higher margin, adjusted\nfor non-recurring items. The competitive pressure was strong and the\nimprovement in operating income was mainly driven by cost efficiency.\n\nNorth America\n\nMarket demand in the U.S. declined significantly and price levels are\nestimated to have been up slightly, year-over-year, however not reflecting the\nyear-over-year cost increase of implemented U.S. tariffs. Significant negative\nexternal factors, mainly related to tariff costs, and the organic sales\ndecline were the main contributors to the operating loss. In addition, a\nchange in accounting estimates for customer rebate provisions reflecting price\nvolatility in prior months, and a voluntary recall of a limited number of\nFrigidaire gas ranges jointly impacted operating income negatively with\napproximately SEK 0.3bn.\n\nAs a result of a review of our global manufacturing footprint, the decision\nwas announced earlier this week to cease production in Jászberény, Hungary,\nby the end of 2026. Also, a decision was taken during the first quarter to\ncease manufacturing in Santiago, Chile, by the end of April, and downsizing\nmeasures were implemented in Argentina.\n\nRevisions to market outlook for 2026\n\nFollowing the downturn in the U.S. home appliances market in the first\nquarter, the market outlook for North America in 2026 is revised from 'Neutral\nto Negative' to 'Negative'. The Brazilian home appliance market developed\npositively in the first quarter and although growth rates may slow somewhat\nthroughout the year the market outlook for Brazil in 2026 is changed from\n'Neutral' to 'Positive'. The market outlook for Europe remains 'Neutral'.\n\nOur business outlook for 2026 remains overall unchanged, despite expected\nadditional costs related to extended U.S. Section 232 import tariffs on\nproducts that contain steel and aluminum, applicable since April 6, 2026.\nSizeable price increases have already been announced in North America with the\nambition to offset the negative impact from tariffs.\n\nA major milestone in the transformation journey of Electrolux Group\n\nThe strategic initiatives announced yesterday will be instrumental to our\nlong-term profitable growth. It will enable us to invest in innovations and\nconsumer experiences that will define the future of home appliances, leverage\nglobal scale, significantly reduce costs and increase efficiency.\n\nWebcast and telephone conference 09.00 CEST\n\nA video webcast and simultaneous telephone conference is held at 09.00 CEST\ntoday, April 24. Yannick Fierling, President and CEO, and Therese Friberg,\nCFO, will comment on the report.\n\nIf you wish to participate via webcast, please use the link below. Via the\nwebcast you are able to ask written questions.\n\nhttps://edge.media-server.com/mmc/p/ky4p5vf7/\n\nIf you wish to participate via telephone conference please register on the\nlink below. After registration you will be provided phone numbers and a\nconference ID to access the conference. You can ask questions verbally via the\ntelephone conference.\n\nhttps://register-conf.media-server.com/register/BId8cf6e47bcbc4ba880de8a08b333c2d3\n\nPresentation material available for download on the Investor relations section\non electroluxgroup.com\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4672612-1&h=358761580&u=https%3A%2F%2Fwww.electroluxgroup.com%2Fen%2F&a=electroluxgroup.com)\n\nThis is information that AB Electrolux is obliged to make public pursuant to\nthe EU Market Abuse Regulation. The information was submitted for publication,\nthrough the agency of the contact person set out above, on 24-04-2026 07:00\nCET.\n\nsFor more information:\n\nAnn-Sofi Jönsson, Head of Investor Relations & Sustainability Reporting,\nann-sofi.jonsson@electrolux.com,  +46 73 025 1005\n\nMaria Åkerhielm, Investor Relations Manager,\nmaria.akerhielm@electrolux.com, +46 70 796 3856\n\nHenry Sjölin, Investor Relations Manager, henry.sjolin@electrolux.com, +46\n76 863 51 85\n\nThis information was brought to you by Cision http://news.cision.com\n\nhttps://news.cision.com/electrolux-group/r/electrolux-group-interim-report-q1-2026,c4339626\n\nThe following files are available for download:\n\n https://mb.cision.com/Main/1853/4339626/4056097.pdf  Interim report - ENG - Q1 2026  \n\n \n\nView original\ncontent:https://www.prnewswire.com/apac/news-releases/electrolux-group-interim-report-q1-2026-302752613.html\n\nSOURCE Electrolux Group\n\n\n\nCopyright (c) 2026 PR Newswire Association,LLC. All Rights Reserved.","article_body_html":"","raw_payload":{"data":{"id":"nPNA3lFh8a","title":"Electrolux Group Interim report Q1 2026","author":"PR Newswire","ticker":"ELUXB","created":"2026-04-24T06:14:21.511Z","tickers":["ELUXB"],"exchange":"Nasdaq Stockholm","article_body":"Electrolux Group Interim report Q1 2026\nPR Newswire\n\nSTOCKHOLM, April 24, 2026\n\nSTOCKHOLM, April 24, 2026 /PRNewswire/ --\n\nHighlights of the first quarter of 2026\n* Net sales amounted to SEK 29,543m (32,576) with flat organic sales of -0.5%\n(7.9). Organic sales growth was +3.6% in Europe, Middle East & Africa and Asia\nPacific (EMEA APAC) and +8.0% in Latin America, driven mainly by higher\nvolumes. North America reported an organic sales decline of -11.6%, mainly\nreflecting weaker market conditions.\n* Operating income excluding non-recurring items was SEK 198m (452),\ncorresponding to a margin of 0.7% (1.4). The decline was driven by an\noperating loss in North America, mainly due to increased costs for U.S.\ntariffs and a significant slowdown in market demand. Also, a change in\naccounting estimates for customer rebate provisions reflecting price\nvolatility in prior months and a voluntary recall of a limited number of\nFrigidaire gas ranges, jointly impacted operating income negatively with\napproximately SEK 0.3bn. Regions EMEA APAC and Latin America reported improved\noperating income excluding non-recurring items, with an operating margin of\n4.1% and 7.9%, respectively. Increased cost efficiency contributed\napproximately SEK 0.7bn to Group operating income.\n* Operating income of SEK -266m (452), corresponding to an operating margin of\n-0.9% (1.4) included a negative non-recurring item of SEK -463m related to\npreviously announced actions in region Latin America.\n* Income for the period amounted to SEK -470m (42) and earnings per share were\nSEK -1.74 (0.16).\n* Operating cash flow after investments was SEK -4,566m (-3,107), negatively\nimpacted by an operating loss in North America and a seasonal increase in\nworking capital.\n* Events after the close of the period: Electrolux Group announced on April\n22, it will end production at the Jászberény, Hungary factory. Production is\nexpected to cease by the end of 2026.\n* Electrolux Group on April 23 announced that it has entered into agreements\nwith Midea Group to establish a highly complementary long-term strategic\npartnership in North America.\n* Electrolux Group on April 23 announced that it accelerates its profitable\ngrowth strategy through a partnership with Midea, global organization and\nfootprint optimization, and a fully underwritten rights issue of approx. SEK 9\nbillion.\nPresident and CEO Yannick Fierling's comment\n\nIn recent months we have taken decisive steps to accelerate our profitable\ngrowth strategy. Yesterday initiatives were announced that will fundamentally\nstrengthen Electrolux Group. We are forming a highly complementary, strategic\npartnership with Midea Group in North America. It will accelerate growth,\nimprove profitability and form a strong platform moving forward. We have also\ninitiated efforts to optimize our global manufacturing footprint and improve\nefficiency across the organization. In addition, the Board of Directors have\nresolved on a fully underwritten rights issue of approximately SEK 9bn to\nfinance our profitable growth initiatives and strengthen the Group's balance\nsheet.\n\nThe home appliance industry is undergoing rapid change, with an increasingly\ndynamic market environment. In the first quarter I am pleased we strengthened\nour market positions in Europe and Brazil. Regions EMEA APAC and Latin America\ngrew sales and improved operating income and margin, adjusted for\nnon-recurring items. However, North America reported weaker sales reflecting a\n10% decline in market demand, and an operating loss in the quarter. The\nGroup's ambition for cost reductions remains high and with SEK 0.7bn in the\nfirst quarter, we are on track to reach the cost efficiency outlook of SEK\n3.5-4.0bn for full-year 2026.\n\nEurope, Middle East & Africa and Asia Pacific\n\nDespite a flat European core appliance market in the quarter, organic sales\nincreased. Operating income and margin improved, mainly driven by cost\nefficiency. Volume and mix improved, with increased market shares for the AEG\nand Electrolux brands and a further strengthened position in the important\nbuilt-in kitchen segment.\n\nLatin America\n\nIn Brazil, growth in consumer demand continued and Latin America reported good\norganic growth, with improved operating income and a higher margin, adjusted\nfor non-recurring items. The competitive pressure was strong and the\nimprovement in operating income was mainly driven by cost efficiency.\n\nNorth America\n\nMarket demand in the U.S. declined significantly and price levels are\nestimated to have been up slightly, year-over-year, however not reflecting the\nyear-over-year cost increase of implemented U.S. tariffs. Significant negative\nexternal factors, mainly related to tariff costs, and the organic sales\ndecline were the main contributors to the operating loss. In addition, a\nchange in accounting estimates for customer rebate provisions reflecting price\nvolatility in prior months, and a voluntary recall of a limited number of\nFrigidaire gas ranges jointly impacted operating income negatively with\napproximately SEK 0.3bn.\n\nAs a result of a review of our global manufacturing footprint, the decision\nwas announced earlier this week to cease production in Jászberény, Hungary,\nby the end of 2026. Also, a decision was taken during the first quarter to\ncease manufacturing in Santiago, Chile, by the end of April, and downsizing\nmeasures were implemented in Argentina.\n\nRevisions to market outlook for 2026\n\nFollowing the downturn in the U.S. home appliances market in the first\nquarter, the market outlook for North America in 2026 is revised from 'Neutral\nto Negative' to 'Negative'. The Brazilian home appliance market developed\npositively in the first quarter and although growth rates may slow somewhat\nthroughout the year the market outlook for Brazil in 2026 is changed from\n'Neutral' to 'Positive'. The market outlook for Europe remains 'Neutral'.\n\nOur business outlook for 2026 remains overall unchanged, despite expected\nadditional costs related to extended U.S. Section 232 import tariffs on\nproducts that contain steel and aluminum, applicable since April 6, 2026.\nSizeable price increases have already been announced in North America with the\nambition to offset the negative impact from tariffs.\n\nA major milestone in the transformation journey of Electrolux Group\n\nThe strategic initiatives announced yesterday will be instrumental to our\nlong-term profitable growth. It will enable us to invest in innovations and\nconsumer experiences that will define the future of home appliances, leverage\nglobal scale, significantly reduce costs and increase efficiency.\n\nWebcast and telephone conference 09.00 CEST\n\nA video webcast and simultaneous telephone conference is held at 09.00 CEST\ntoday, April 24. Yannick Fierling, President and CEO, and Therese Friberg,\nCFO, will comment on the report.\n\nIf you wish to participate via webcast, please use the link below. Via the\nwebcast you are able to ask written questions.\n\nhttps://edge.media-server.com/mmc/p/ky4p5vf7/\n\nIf you wish to participate via telephone conference please register on the\nlink below. After registration you will be provided phone numbers and a\nconference ID to access the conference. You can ask questions verbally via the\ntelephone conference.\n\nhttps://register-conf.media-server.com/register/BId8cf6e47bcbc4ba880de8a08b333c2d3\n\nPresentation material available for download on the Investor relations section\non electroluxgroup.com\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4672612-1&h=358761580&u=https%3A%2F%2Fwww.electroluxgroup.com%2Fen%2F&a=electroluxgroup.com)\n\nThis is information that AB Electrolux is obliged to make public pursuant to\nthe EU Market Abuse Regulation. The information was submitted for publication,\nthrough the agency of the contact person set out above, on 24-04-2026 07:00\nCET.\n\nsFor more information:\n\nAnn-Sofi Jönsson, Head of Investor Relations & Sustainability Reporting,\nann-sofi.jonsson@electrolux.com,  +46 73 025 1005\n\nMaria Åkerhielm, Investor Relations Manager,\nmaria.akerhielm@electrolux.com, +46 70 796 3856\n\nHenry Sjölin, Investor Relations Manager, henry.sjolin@electrolux.com, +46\n76 863 51 85\n\nThis information was brought to you by Cision http://news.cision.com\n\nhttps://news.cision.com/electrolux-group/r/electrolux-group-interim-report-q1-2026,c4339626\n\nThe following files are available for download:\n\n https://mb.cision.com/Main/1853/4339626/4056097.pdf  Interim report - ENG - Q1 2026  \n\n \n\nView original\ncontent:https://www.prnewswire.com/apac/news-releases/electrolux-group-interim-report-q1-2026-302752613.html\n\nSOURCE Electrolux Group\n\n\n\nCopyright (c) 2026 PR Newswire Association,LLC. All Rights Reserved."},"type":"article","timestamp":"2026-04-24T06:14:21.56589099Z","server_sent_at_ms":1777011261565},"received_at":"2026-04-24T06:14:21.624Z","source_url":"https://www.prnewswire.com/news-releases/electrolux-group-interim-report-q1-2026-302752596.html"},"analysis":{"id":"6032","press_release_id":"8003","analysis_json":{"industry":{"label":"Consumer Durables & Apparel","sector":"Consumer Discretionary"},"redFlags":["Q1 operating loss of SEK -266m","North America market outlook revised to 'Negative'","Operating cash flow after investments was SEK -4,566m"],"eventType":"earnings","narrative":"Electrolux reported Q1 net sales of SEK 29.5bn, down from the prior year, with operating income swinging to a loss of SEK -266m driven by severe tariff costs and demand weakness in North America.\n\nThe company announced a strategic partnership with Midea Group in North America to accelerate profitable growth and optimize its global footprint.\n\nTo finance these initiatives, Electrolux launched a fully underwritten rights issue of approximately SEK 9bn and revised its market outlook for North America to 'Negative' while upgrading Brazil to 'Positive'.","sentiment":"mixed","agentHooks":{"shouldPost":true,"suggestedAngle":"Weak earnings overshadowed by transformative Midea partnership and SEK 9bn capital raise."},"keyFigures":{"eps":-1.74,"revenue":"SEK 29,543m","guidance":"North America 2026 market outlook revised to 'Negative'; Brazil 2026 market outlook changed to 'Positive'; cost efficiency outlook for full-year 2026 remains SEK 3.5-4.0bn","revenueYoy":"-0.5%","dealValueUsd":"SEK 9bn","customDimensions":{"operating_income":"SEK -266m","operating_margin":"-0.9%","operating_cash_flow":"SEK -4,566m","operating_income_ex_non_recurring":"SEK 198m"}},"quotedText":"Yesterday initiatives were announced that will fundamentally strengthen Electrolux Group. We are forming a highly complementary, strategic partnership with Midea Group in North America.","namedEntities":{"people":[{"name":"Yannick Fierling","role":"President and CEO"},{"name":"Therese Friberg","role":"CFO"}],"products":["AEG","Electrolux","Frigidaire"],"companies":[{"name":"Electrolux Group","ticker":"ELUXB"},{"name":"Midea Group","relationship":"partner"}],"dollarAmounts":[{"amount":"SEK 29,543m","context":"Q1 net sales"},{"amount":"SEK 198m","context":"Q1 operating income excluding non-recurring items"},{"amount":"SEK -266m","context":"Q1 operating income"},{"amount":"SEK -470m","context":"Q1 income for the period"},{"amount":"SEK -1.74","context":"Q1 earnings per share"},{"amount":"SEK 0.3bn","context":"negative impact from rebate provisions and Frigidaire recall"},{"amount":"SEK 0.7bn","context":"Q1 cost efficiency contribution"},{"amount":"SEK 9bn","context":"fully underwritten rights issue"},{"amount":"SEK 3.5-4.0bn","context":"full-year 2026 cost efficiency outlook"}]},"materialImpact":{"score":4,"reasoning":"Electrolux reported weak Q1 results with a net loss and negative operating income, driven by significant headwinds in North America. However, the simultaneous announcement of a strategic partnership with Midea Group and a fully underwritten SEK 9bn rights issue represents a major strategic pivot and capital event."},"tickerRelevance":{"others":[],"primary":"ELUXB"},"eventTypeSecondary":["partnership","offering"]},"event_type":"earnings","event_type_secondary":["partnership","offering"],"sentiment":"mixed","material_impact_score":4,"narrative":"Electrolux reported Q1 net sales of SEK 29.5bn, down from the prior year, with operating income swinging to a loss of SEK -266m driven by severe tariff costs and demand weakness in North America.\n\nThe company announced a strategic partnership with Midea Group in North America to accelerate profitable growth and optimize its global footprint.\n\nTo finance these initiatives, Electrolux launched a fully underwritten rights issue of approximately SEK 9bn and revised its market outlook for North America to 'Negative' while upgrading Brazil to 'Positive'.","key_figures":{"eps":-1.74,"revenue":"SEK 29,543m","guidance":"North America 2026 market outlook revised to 'Negative'; Brazil 2026 market outlook changed to 'Positive'; cost efficiency outlook for full-year 2026 remains SEK 3.5-4.0bn","revenueYoy":"-0.5%","dealValueUsd":"SEK 9bn","customDimensions":{"operating_income":"SEK -266m","operating_margin":"-0.9%","operating_cash_flow":"SEK -4,566m","operating_income_ex_non_recurring":"SEK 198m"}},"named_entities":{"people":[{"name":"Yannick Fierling","role":"President and CEO"},{"name":"Therese Friberg","role":"CFO"}],"products":["AEG","Electrolux","Frigidaire"],"companies":[{"name":"Electrolux Group","ticker":"ELUXB"},{"name":"Midea Group","relationship":"partner"}],"dollarAmounts":[{"amount":"SEK 29,543m","context":"Q1 net sales"},{"amount":"SEK 198m","context":"Q1 operating income excluding non-recurring items"},{"amount":"SEK -266m","context":"Q1 operating income"},{"amount":"SEK -470m","context":"Q1 income for the period"},{"amount":"SEK -1.74","context":"Q1 earnings per share"},{"amount":"SEK 0.3bn","context":"negative impact from rebate provisions and Frigidaire recall"},{"amount":"SEK 0.7bn","context":"Q1 cost efficiency contribution"},{"amount":"SEK 9bn","context":"fully underwritten rights issue"},{"amount":"SEK 3.5-4.0bn","context":"full-year 2026 cost efficiency outlook"}]},"model_name":"glm-4.7","prompt_hash":"sha256:2f2748f0fcc8c4f2","schema_hash":"sha256:ad96b863d7123008","created_at":"2026-04-25T09:40:03.467Z","global_importance":3,"audience_relevance":3,"importance_components":{"method":"backfill-heuristic","signals":{"bodyLong":false,"headlineTier1":false,"tickerCovered":false,"hadSignificance":false},"version":1,"computedAt":"2026-04-27T11:52:55.376Z"}},"durationMs":54864,"modelName":"glm-4.7"}}