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President and CEO Keith McLoughlin’s comments on the results for the fourth quar...

2/2/2012 1:51 AM EST  -   Electrolux
Maneuvering in a tough environment The appliance market in the fourth quarter of 2011 remained very competitive. The headwinds of price pressure, higher raw-material costs and weak demand grew stronger as the year progressed. Despite this challenging environment, we were able to generate an underlying operating income of SEK 4 billion in 2011. Furthermore, we have taken actions to increase prices, take out costs,...

Consolidated results 2011

2/2/2012 1:50 AM EST  -   Electrolux
Highlights of the fourth quarter of 2011

· Net sales amounted to SEK 28,369m (27,556) and income for the period was SEK 221m (677), or SEK 0.77 (2.38) per share.
· Operating income amounted to SEK 1,441m (1,714), corresponding to a margin of 5.1% (6.2), excluding items affecting comparability and non-recurring items.
· Non-recurring costs amounted to SEK 825m, including SEK 635m for overhead reductions and WEEE...
Stefano Marzano
 

Electrolux appoints Stefano Marzano to the new role of Chief Design Officer

1/10/2012 2:00 AM EST  -   Electrolux
Stefano Marzano has been appointed Chief Design Officer, a new role at Electrolux. Marzano will lead a new Group staff function gathering all the design related competencies in the Group. The changes enable Electrolux to increase the relevance and speed with which innovative solutions are taken to market.
The changes consolidate the Electrolux strategy of continuing to develop innovative and thoughtfully...

Electrolux specifies overhead cost savings

12/20/2011 2:30 AM EST  -   Electrolux
As communicated at the Capital Markets Day in November, Electrolux is reducing overhead costs in all regions. Savings from these measures will amount to SEK 680 million annually and incur a cost of SEK 630 million.
Activities to reduce staffing levels in all regions were initiated in the fourth quarter of 2011 and will continue in the beginning of 2012.

Total non-recurring costs for these measures of...

Electrolux signs revolving credit facility

12/13/2011 8:15 AM EST  -   Electrolux
Electrolux has entered into a new EUR 500 million multi-currency revolving credit facility agreement with a group of 11 banks.
The facility is for general corporate purposes and has a five-year maturity, with extension options for up to two more years. The new facility will refinance an existing EUR 500 million syndicated facility which matures in June 2012.

The facility was oversubscribed during syndication,...

Conversion of shares

11/30/2011 6:00 AM EST  -   Electrolux
According to AB Electrolux articles of association, owners of Class A shares have the right to have such shares converted to Class B shares. In November, 2011, at the request of shareholders, 100,000 Class A shares were converted to Class B shares.
Conversion of shares reduces the total number of votes in the company. When such a conversion has occurred, the company is obligated by law to disclose it.

After...

Electrolux hosts Capital Markets Day

11/15/2011 2:00 AM EST  -   Electrolux
At today’s capital markets day, the President and CEO of Electrolux Keith McLoughlin will present the Group’s strategy to create sustainable economic value. Management will present actions to improve operational excellence which are estimated to provide annual savings of SEK 5.1 billion, an increase of SEK 2.6 billion compared to what was previously communicated.
Today’s presentations will illustrate that the...

President and CEO Keith McLoughlin’s comments on the results for the third quart...

10/28/2011 1:51 AM EST  -   Electrolux
Continued tough market conditions in the quarter Third-quarter results were impacted by continued tough market conditions. Demand declined further in several of Electrolux main markets in Southern Europe and the US, at the same time as the cost of raw materials increased. Aside from continuing improving price and mix, we must acce­lerate our efforts to adapt our cost structure. In this challenging environment, we...

Interim report January – September 2011

10/28/2011 1:50 AM EST  -   Electrolux
Highlights of the third quarter of 2011

• Net sales amounted to SEK 25,650m (26,326) and income for the period was SEK 825m (1,381), or SEK 2.90 (4.85) per share.

• Net sales increased by 2.2% in comparable currencies and including one month of sales from Olympic Group, mainly as a result of higher sales volumes.

• Operating income amounted to SEK 1,098m (1,977), corresponding to a margin of 4.3% (7.5), excluding...
LED Low Bay
 

Dialight DuroSite® LED Low Bay Fixture Certified by DesignLights™ Consortium

10/24/2011 10:54 AM EST  -   Dialight
Maintenance-Free, Low-Glare Fixture Added to DLC Qualified Products List under Parking Garage Luminaire Category, Now Pre-Qualified for Utility Rebates


Farmingdale, NJ (October 24th, 2011) –  Dialight (LSE: DIA.L), an innovative global leader in LED lighting technology, today announced that its DuroSite® LED Low Bay...