Whirlpool shares

Whirlpool shares gained more than 1.9% in extended trading after the appliance maker shared strong guidance for the year. Fourth-quarter revenue came in at $4.92 billion, slightly behind the $5.07 billion expected by analysts, according to FactSet. The home appliances company also announced its chief operating officer would transition to an advisory role and then leave the company.

Teka triumphs triple at the 2023 Product of the Year Awards

Teka, specializing in comprehensive solutions for the kitchen, has received three awards from the only contest in Spain where consumers annually choose the best innovations on the market, the Product of the Year Awards 2023. After an exhaustive study of more than 10,000 people representative of the Spanish population, After an exhaustive study of more than 10,000 people representing the Spanish population, the Product of the Year organization has awarded Teka in three of its main categories for MasterSense Air inductions, Gourmet BBQ barbecues and Sommelier wine bars.

Teka and the Product of the Year Awards
One of the awards has been received for the MasterSense Air induction, which combines a hood and induction hob in one and includes direct access and intelligent cooking functions. Thanks to its automatic system and temperature sensors, MasterSense Air allows the user to only have to choose a cooking function, for its part, the hob automatically reaches and maintains the temperature necessary to cook the selected recipe. In addition, the hood is also capable of starting automatically and adapting its intensity to the power required at all times.

The  have also stood out in this contest for their innovation. Its PerfectTemp technology creates up to three independent temperature zones so that we can store red, white and sparkling wine in one place, maintaining the properties of each of them. In addition, it is important that said temperature remains stable, so the SmartControl system prevents it from fluctuating by more than 1º. For its part, the innovative SurroundAir cooling system evenly distributes cold air to maintain a constant and homogeneous temperature throughout the interior. The Sommelier Series is designed to maintain all the flavor of the wine, and for this, it incorporates the HumidityControl system, which guarantees the right level of humidity, between 55% and 75%, thus preventing the cork from drying out and preserving its quality.

the Gourmet BBQ gas barbecue models have also received the Product of the Year seal. Gourmet BBQ has an ultra-fast automatic electronic ignition, non-stick cast iron grills and a grid for the perfect distribution of heat over the food. Not only is cooking very comfortable, thanks to its large cooking surface, but also its subsequent cleaning, since the tray located under the grill can be removed.

Forza @KBIS


Forza, the ultra-premium Italian cooking appliances brand, spotlights its new 48-inch Professional Range Tops at the International Builders’ Show (IBS) and Kitchen & Bath Industry Show (KBIS) in Las Vegas, Nevada, from Jan. 31 to Feb. 2 with the American Gas Association in booth C2108.

“We are excited to add the 48-inch width to our lineup of professional range tops,” said Marco Guerzoni, Forza Director of Marketing and Product Development. “You can expect this handsome appliance to have the same high-quality power and radical Italian design that we showcase on each of our products.”

Ultra-premium Italian cooking appliances brand @ForzaCucina expands its range top line by adding a 48-inch model, which will be debuted at the 2023 International Builders’ Show in #LasVegas. @IntlBldrsShow #IBS2023 https://www.forzacucina.com/product-category/range-tops/

KEY FEATURES OF THE 48-INCH PROFESSIONAL RANGE TOP:

The 48-inch Professional Range Top features eight full brass burners—four front-range dual-flame burners that adjust from 685 Btu for simmering to a powerful 20,000 Btu, and four single-flame burners in the back that range from 2,200 to 12,000 Btu—for precise cooking control.
It is equipped with Forza’s continuous Infinito™ Grate System edge-to-edge cast iron grate system with an integrated bullnose – the industry’s largest continuous usable cooking surface.
It also comes with a fastback porcelain trim that provides a seamless integration into your kitchen island while increasing the usable cooking service even further for maximum efficiency.
The black porcelain spill tray makes cleanup simple while providing a dramatic aesthetic for the range top that emphasizes the brass burners, while the stainless-steel knobs with a red “racecar” stripe elevate your kitchen design.
Its bold form and style embody the soul of radical Italian design with the heart of an American muscle car, featuring unique angular racecar-inspired lines.
The new entry to the product line joins the previously released 30 and 36-inch models.
About Forza
Forza delivers dynamic Italian design with ultra-premium, professional cooking appliances. Designed and built in the heart of the famed Emilia-Romagna region in Modena, Italy, Forza appliances include professional gas ranges, dual convection electric wall ovens, professional range tops, high-performance ventilation hoods and a powerful, energy-efficient dishwasher. Forza is the American brand of parent company, Glem Gas, which has been producing high-performing appliances that embody the spirit of Italian craftsmanship for more than 60 years. For more information about Forza, visit forzacucina.com.

Arçelik Whirlpool update

During the presentation of the fourth quarter results, Arçelik communicated the name of the new company that acquired the assets of Whirlpool Emea. This was reported by the Market screener website which quotes Arçelik’s quarterly report presented to shareholders yesterday.

It will be called Beko Europe BV, it will be a company incorporated under Dutch law and will have a production capacity of 24 million household appliances a year. The 20 thousand employees (6 thousand of Beko, added to the 14 thousand of Whirlpool) currently work in the 2 Romanian plants of Beko, in the 14 plants of Whirlpool in Italy, Poland, Slovakia and the United Kingdom, in the 25 offices of the European subsidiaries of Beko and across 38 Whirlpool EMEA locations.

In addition to the brands of the Arçelik group, Beko Europe will own the Hotpoint, Indesit, Bauknecht, Privileg and Ignis brands and will have the license to use the Whirlpool brand for 40 years.

Arçelik’s sales

Arçelik has published the balance sheet data relating to the fourth quarter of 2022. Sales increased by 74% compared to the corresponding period of 2021 from 22.5 to 39 billion Turkish liras, (1.9 billion euros at current exchange rates) mainly thanks to the internal market.

Exports were depressed in quantity but much more profitable thanks to the weakness of the Turkish lira and the low cost of energy in the group’s plants. 
From a published graph it seems to understand that in Italy sales have contracted by about 5%, less than the European average.

Leveraging, i.e. the ratio between assets and debt, decreased in the fourth quarter thanks to the significant cash generation (the gross margin is around 29%). 

DE’ LONGHI: -2% TO 3.16 BILLION REVENUES IN 2022,

Excellent news from America (+11%) and Asia (+16%) but in Europe, where the group generates 60% of its turnover, sales fell by 11% in the fourth quarter and by 10% in the whole of 2022 .De’ Longhi closed 2022 with consolidated revenues of 3.16 million euros, a decrease of 2% compared to 2021. In particular, the bad performance in the fourth quarter (-4%) weighed heavily. At constant exchange rates, i.e. without considering the effect of the euro falling against the dollar and other currencies, 2022 turnover would be 6% lower than that of 2021. De’Longhi, like the whole sector, had a good first semester and then suffered from the weakening of the demand for goods in the European area which represents around 60% of sales. In Europe De’Longhi sold 10% less than in 2021.

All non-European markets performed much better, in particular America (+10.8% to 624 million), the Middle East, India and Africa (+7.9% to 197 million) and the rest of Asia (+15.9% to 464 millions).

“ The fourth quarter performance ”, said the Chief Executive Officer Fabio De’Longhi , “ is a prelude to a possible trend in the margins of the year just closed in line with the high part of our guidance’, which estimated an adjusted EBITDA between 320 and 340 million. For 2023 De’ Longhi sees a year with sales ‘slightly down’, with ‘a second half of a slight recovery’ . The consolidated results will be approved by the board on 13 March.

Currys launches nationwide ‘Quiet Hour’

Currys has launched a ‘Quiet Hour’ in stores across the UK in a bid to create a more inclusive shopping experience for neurodiverse customers.

For the first hour of the day until 11am, the electrical retailer will reduce noise in-store, keeping lights low and making sure there are no flashing screens to ensure a calmer place to shop.

Teka Barista CLC 835 coffee maker

Teka proposes its Barista CLC 835 coffee maker, capable of preparing a delicious cup of coffee like in the best coffee shops but without leaving home.

The Barista CLC 835 coffee maker has 19 bar pressure and a temperature selector, which allows you to infuse the water at constant heat. In this way, all the aroma of the coffee is extracted and a coffee with an intense flavor and a lot of body is obtained.

In addition, it is compatible with capsules from more than ten different brands, among which are the most popular on the market, as well as with ground coffee.

To make and taste the perfect Irish coffee, Barista incorporates a professional frother, made up of an adjustable steamer system that emulsifies the milk to the perfect point of foam and creaminess.

With the Barista CLC 835, coffee is prepared in a very simple way, you just have to select an option on the control panel, and the coffee maker does the rest. In addition, it is as easy to use as it is to clean, since the tanks for water, coffee residue and used capsules open easily to wash them and leave them ready again.

Compact 45cm design

Teka Barista CLC 835 fits in virtually any space, with a compact design available in white or black, which integrates perfectly into every kitchen.

In addition, the internal storage includes a hidden lower drawer and two side compartments to store cups, glasses and capsules.

Fulgor Milano to launch new products at KBIS

Fulgor Milano will be at the Kitchen & Bath Industry Show 2023 (KBIS), that will be held in Las Vegas from January 31st to February 2nd. The Italian company will display its products in the West Building at Booth #W3727, where it also will unveil some new additions to ovens and cooktops lines.

The innovative products of the Professional line will also be on display, such as the new 48″ Induction 7+ ranges and range tops. Furthermore, Fulgor Milano will exhibit new refrigerators, freezers, and wine cellar columns that match perfectly with Fulgor Milano PRO cooking products, as well as being powerful, elegant and provide commercial-grade performance.

Samsung Electronics and LG Electronics suffered a steep drop in sales of home appliances

Samsung Electronics and LG Electronics are working on special measures to cope with the steep drop in sales of home appliances.

Samsung Electronics has recently divided the Kitchen and Living Development Groups under the Development Team of the Home Electronics Division into five development groups — the Refrigerator, Cooking Equipment, Dishwasher, Clothing Care, and Vacuum Cleaner. The Software Development Group under the Development Team was also subdivided into five groups by product group.

In early 2022, Samsung Electronics sent six executives from the Video Display (VD) and Mobile Experience (MX) Division to the development team of the Home Appliances Division. It also established a next-generation home appliance research team at Samsung Research, a leading research and development organization.

Samsung Electronics has completely overhauled the Home Appliance Division because it recorded a loss of 318 billion won in the fourth quarter of 2022, analysts say.

LG Electronics, the No. 1 global consumer electronics company, is placing a big bet on the electric vehicle business. The company is expected to try to offset the sluggishness in the home appliance sector with sales growth in the electric vehicle business.

IBK Investment & Securities estimated that LG Electronics’ H&A Division’s operating profit plunged from 445.5 billion won in the first quarter of last year to 19.2 billion won in the fourth quarter of the same year. Stock market analysts forecast that Samsung Electronics and LG Electronics will enter a deficit tunnel in both TV and home appliance businesses in the first half of this year.

Unlike the Home Appliance Division, LG Electronics’ VS Division is estimated to have recorded operating profits from the second to fourth quarters of 2022 in a row, recording its first surplus on an annual basis. Its sales also reached 8 trillion won to 10 trillion won in 2022, which is estimated at 10 percent of LG Electronics’ total sales. Since the launch of the VS Business Division in 2013, the proportion of its sales in the automotive electronics domain has never exceeded 10 percent of its total sales. Industry insiders expect LG Electronics’ backlog of orders for electric vehicle business to reach more than 80 trillion won as of the end of 2022.