First Read: Electrolux AB "Analyst roundtable feedback" (Neutral) Huynh

研报英文原文证据摘录

First Read: Electrolux AB "Analyst roundtable feedback" (Neutral) Huynh

Global Research

9 June 2026ab

First Read

EquitiesElectrolux AB

Analyst roundtable feedback Sweden

Furnishings & Appliances

12-month rating Neutral *

Analyst roundtable with Electrolux management on June 9th

We attended an analyst roundtable with Electrolux CEO, CFO and IR. Topics focused on 12m price target SKr32.00

1) the rationale for the Midea partnership, 2) North America turnaround priorities, 3) US

pricing, competition and retailer response, and 4) tariff, CBAM and commodity risks.

Price (08 Jun 2026) SKr33.03

Management also reiterated that the partnership is not an M&A precursor, with no

acquisition discussions having taken place. RIC: ELUXb.ST BBG: ELUXB SS

Trading data and key metrics

Midea JV offers Food Preservation cost reset and entry into top-load laundry

52-wk range SKr48.08-24.81

Management described Food Preservation as the most margin-constrained category Market cap. SKr26.8b/US$2.84b

globally and the key area requiring a structural cost solution. The Juarez JV gives

Shares o/s 811m (ORD)

Electrolux access to Midea’s lower cost supply chain and manufacturing capabilities,

Free float 100%

while Anderson JV supports the planned entry into North American top-load laundry.

Avg. daily volume ('000) 4,486

Electrolux has <2% share in top-load laundry despite top-load being dominant in the

$12bn US laundry segment. The top-loader product has been co-developed with Midea, Avg. daily value (m) SKr136

with production planned for H1’27. The cSEK0.6bn identified benefit is primarily cost Common s/h equity (12/26E) SKr17.3b

efficiency, mainly from Food Preservation, with most of the contribution expected from P/BV (12/26E) 1.5x

year three onwards.