Electrolux AB (STU:ELXC)

€ 8.106 0.026 (0.33%) Market Cap: 2.20 Bil Enterprise Value: 4.70 Bil PE Ratio: 0 PB Ratio: 3.11 GF Score: 25/100

Q2 2019 Electrolux AB Earnings Call Transcript

Jul 18, 2019 / 07:00AM GMT

Release Date Price: €19.24 (-0.67%)

Transcript

Jonas Samuelson;publ;President

AB Electrolux;CEO & Director

()- -

Good morning, and welcome to the second quarter 2019 earnings discussion. With me today, I have Therese Friberg, our CFO; and Sophie Arnius, our Head of Investor Relations.

Let's go into the business overview, and start with the second quarter highlights. In the quarter, performance was solid with good price momentum and continued strong focus on innovation. Mix continue to be positive, driven by good traction of our innovative premium products in the market. Volumes declined mainly due to the private label business in North America. This resulted in a decline in our organic growth in this quarter.

Earnings were fairly in line with last year, despite the headwinds from raw material, trade tariffs, currency as well as the decline in volumes. A strong price momentum offset these headwinds. In the quarter, we increased investments in marketing for new product launches and innovation focused boost our earnings to improve mix. We started to incur some costs for the preparation of

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