Financials Electrolux AB

Equities

ELUX B

SE0016589188

Appliances, Tools & Housewares

Real-time Estimate Cboe Europe Other stock markets 07:33:26 29/05/2024 pm IST			5-day change	1st Jan Change
96.33 ^SEK	-3.13%		-0.95%	-10.88%

30/04	Nordic Shares Moved Upward Tuesday; Hoegh Autoliners Topped Leaders	DJ
29/04	ELECTROLUX : Disappointing figures in North America

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	66,106	54,999	62,444	38,229	29,296	26,979	-	-
Enterprise Value (EV) ¹	73,789	56,555	71,035	62,077	55,522	53,444	50,569	46,623
P/E ratio	26.5 x	8.36 x	13.5 x	-29.3 x	-5.58 x	3,429 x	8.27 x	6.34 x
Yield	-	4.18%	4.19%	-	-	-	5.86%	7.37%
Capitalization / Revenue	0.56 x	0.47 x	0.5 x	0.28 x	0.22 x	0.2 x	0.19 x	0.19 x
EV / Revenue	0.62 x	0.49 x	0.57 x	0.46 x	0.41 x	0.4 x	0.36 x	0.32 x
EV / EBITDA	7.66 x	5.46 x	5.91 x	9.98 x	8.3 x	6.36 x	4.16 x	3.55 x
EV / FCF	60.5 x	8.3 x	56.9 x	-7 x	-156 x	103 x	14.5 x	9.42 x
FCF Yield	1.65%	12.1%	1.76%	-14.3%	-0.64%	0.97%	6.88%	10.6%
Price to Book	2.93 x	2.94 x	3.34 x	2.31 x	2.59 x	2.42 x	1.85 x	1.51 x
Nbr of stocks (in thousands)	2,87,397	2,87,397	2,83,420	2,70,028	2,70,028	2,70,028	-	-
Reference price ²	229.9	191.4	219.5	140.8	108.1	99.44	99.44	99.44
Announcement Date	31/01/20	02/02/21	28/01/22	02/02/23	02/02/24	-	-	-

¹SEK in Million²SEK

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	1,18,981	1,15,960	1,25,631	1,34,880	1,34,451	1,33,612	1,39,041	1,45,369
EBITDA ¹	9,637	10,365	12,017	6,221	6,691	8,402	12,169	13,137
EBIT ¹	4,533	5,778	7,528	831	414	2,120	5,758	6,606
Operating Margin	3.81%	4.98%	5.99%	0.62%	0.31%	1.59%	4.14%	4.54%
Earnings before Tax (EBT) ¹	2,456	5,096	6,255	-1,672	-5,111	261.3	4,294	5,327
Net income ¹	2,509	6,584	4,677	-1,320	-5,227	-53.48	3,086	4,117
Net margin	2.11%	5.68%	3.72%	-0.98%	-3.89%	-0.04%	2.22%	2.83%
EPS ²	8.690	22.88	16.21	-4.810	-19.36	0.0290	12.02	15.68
Free Cash Flow ¹	1,219	6,816	1,249	-8,869	-355	518	3,477	4,948
FCF margin	1.02%	5.88%	0.99%	-6.58%	-0.26%	0.39%	2.5%	3.4%
FCF Conversion (EBITDA)	12.65%	65.76%	10.39%	-	-	6.16%	28.58%	37.67%
FCF Conversion (Net income)	48.59%	103.52%	26.71%	-	-	-	112.67%	120.21%
Dividend per Share ²	-	8.000	9.200	-	-	-	5.830	7.331
Announcement Date	31/01/20	02/02/21	28/01/22	02/02/23	02/02/24	-	-	-

¹SEK in Million²SEK

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2
Net sales ¹	35,372	30,118	33,749	35,244	35,769	32,734	32,653	33,427	35,636	31,077	32,285	33,945	36,817	33,037	33,077
EBITDA ¹	2,726	2,151	1,888	1,374	809	1,806	2,099	1,937	876	865	1,672	2,583	3,197	2,662	2,191
EBIT ¹	1,609	919	560	-35	-612	305	519	341	-724	-720	172	1,074	1,561	1,225	703
Operating Margin	4.55%	3.05%	1.66%	-0.1%	-1.71%	0.93%	1.59%	1.02%	-2.03%	-2.32%	0.53%	3.16%	4.24%	3.71%	2.13%
Earnings before Tax (EBT) ¹	700	1,323	265	-786	-2,474	-770	-630	75	-3,785	-1,279	-308.7	674.5	1,067	271	274
Net income ¹	596	950	257	-605	-1,922	-588	-648	123	-4,113	-1,230	-238.9	547.8	862.3	610.3	211
Net margin	1.68%	3.15%	0.76%	-1.72%	-5.37%	-1.8%	-1.98%	0.37%	-11.54%	-3.96%	-0.74%	1.61%	2.34%	1.85%	0.64%
EPS ²	2.070	3.370	0.9200	-2.230	-7.120	-2.180	-2.400	0.4500	-15.23	-4.550	-0.6807	1.896	2.752	2.260	0.7800
Dividend per Share ²	9.200	-	-	-	-	-	-	-	-	-	-	-	0.7000	1.000	-
Announcement Date	28/01/22	29/04/22	21/07/22	28/10/22	02/02/23	28/04/23	20/07/23	27/10/23	02/02/24	26/04/24	-	-	-	-	-

¹SEK in Million²SEK

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	7,683	1,556	8,591	23,848	26,226	26,465	23,590	19,644
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	0.7972 x	0.1501 x	0.7149 x	3.833 x	3.92 x	3.15 x	1.939 x	1.495 x
Free Cash Flow ¹	1,219	6,816	1,249	-8,869	-355	518	3,477	4,949
ROE (net income / shareholders' equity)	11.4%	34.1%	25.1%	-7%	-33.7%	0.81%	21.7%	24.4%
ROA (Net income/ Total Assets)	2.46%	3.86%	4.51%	-0.6%	-4.2%	-0.04%	2.1%	2.87%
Assets ¹	1,02,058	1,70,388	1,03,703	2,20,000	1,24,452	1,50,650	1,46,686	1,43,658
Book Value Per Share ²	78.60	65.10	65.70	60.90	41.80	41.10	53.60	65.90
Cash Flow per Share ²	29.20	41.50	24.50	-8.180	14.70	18.40	33.70	41.10
Capex ¹	7,215	5,108	5,810	6,595	4,069	5,403	5,580	5,670
Capex / Sales	6.06%	4.4%	4.62%	4.89%	3.03%	4.04%	4.01%	3.9%
Announcement Date	31/01/20	02/02/21	28/01/22	02/02/23	02/02/24	-	-	-

¹SEK in Million²SEK

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Electrolux AB

Trading Rating

Investor Rating

ESG Refinitiv

B-

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

99.44 SEK

Average target price

114.8 SEK

Spread / Average Target

+15.42%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Other Appliances, Tools & Housewares

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ZHEJIANG SUPOR CO., LTD.	+1.47%	591.57Cr
DE'LONGHI S.P.A.	+6.16%	539.41Cr
HUSQVARNA AB	+3.86%	474.47Cr
NEWELL BRANDS INC.	-14.40%	320.09Cr
SPECTRUM BRANDS HOLDINGS, INC.	+12.17%	263.14Cr

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