Brief: Electrolux Professional Q3 EBITA Down At SEK 290 Mln, Below Consensus

Electrolux Professional AB (publ)

27/10/2023 07:21

Oct 27 (Reuters) - Electrolux Professional AB (publ)
 EPROb.ST :
    * ELECTROLUX PROFESSIONAL AB INTERIM REPORT Q3 2023
    * Q3 NET SALES SEK 2,752 MILLION VERSUS COMPANY-PROVIDED
CONSENUS
SEK 2,931 MILLION
    * Q3 EBITA SEK 290 MILLION VERSUS COMPANY-PROVIDED CONSENUS
SEK
331 MILLION
    * HEALTHY ORDER STOCK GIVES US SOME COMFORT FOR END OF YEAR
    * Q3 EBITA MARGIN 10.5% VERSUS COMPANY-PROVIDED CONSENUS
11.3%
    * WE EXPERIENCED AN ORGANIC SALES DECLINE OF 5% DURING Q3
    * THANKS TO A BETTER WORKING CAPITAL DEVELOPMENT, OPERATING
CASH
FLOW IMPROVED TO SEK 333M (56).
    * CURRENCY TRANSACTION EFFECTS HAD A NEGATIVE IMPACT ON
EBITA OF
APPROXIMATELY SEK 40M.
    * SALES OF FOOD & BEVERAGE DECLINED ORGANICALLY BY 8%
COMPARED TO
LAST YEAR
    * LAUNDRY HAD FLAT ORGANIC SALES DEVELOPMENT
    * RECENT MORE NEGATIVE CUSTOMER SENTIMENT, MAINLY IN US, HAS
ALREADY PROMPTED ACTIONS TO REDUCE COST

Source text for Eikon:  ID:nWkr4D9fqW 
Further company coverage:  EPROb.ST 

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