Electrolux AB (FRA:ELXC)

€ 8.732 -0.026 (-0.3%) Market Cap: 2.37 Bil Enterprise Value: 4.97 Bil PE Ratio: 0 PB Ratio: 2.88 GF Score: 69/100

Q1 2021 Electrolux AB Earnings Call Transcript

Apr 28, 2021 / 07:00AM GMT

Release Date Price: €23.75 (-0.46%)

Transcript

Jonas Samuelson;publ;President

AB Electrolux;CEO & Director

()- -

Good morning and a warm welcome to Electrolux's First Quarter 2021 Results Presentation. With me today, I have our CFO, Therese Friberg; and our Head of Investor Relations, Sophie Arnius. I'd like to mention that this session is recorded and will be available on our website as an on-demand version.

So let's look at our performance in the first quarter of 2021. Demand continued to be strong in all markets as changes in consumer spending pattern brought by the pandemic remained and retail inventory levels were low entering the year. We delivered strong organic growth at almost 23% with double-digit growth across business areas. Volumes increased significantly and we are producing at almost full capacity. The organization has been working hard to secure supply in a very tight market, especially related to electronic components, certain plastics, and logistics.

Despite some shortages, we continue to drive mix in a very good way. Price increases implemented early in the quarter as

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