Arçelik has released its financial data for Q4 2024. Sales increased by 19% year-on-year to 108.3 billion Turkish liras (€3 billion), but were down 3% from the previous quarter. EBITDA dropped by 9% to 4.8 billion Turkish liras (€0.13 billion), with a profit of 1.7 billion Turkish liras reported to shareholders.
For the entire year of 2024, Beko Europe’s parent company recorded sales of 428.5 billion Turkish liras (€11.61 billion) and an operating profit of 15.8 billion Turkish liras (€0.4 billion), a 30% decrease. EBITDA was 25% lower than in 2023, at 23 billion Turkish liras.
Author Archives: whitegoodsnow
De Longhi positive result
De Longhi 2024 the Group achieved a robust increase in turnover of 14%, accelerating to 18% in the last quarter due to considerable growth on a like-for-like basis, as well as the consolidation of La Marzocco which confirms the positive momentum seen in the year.
The evolution of revenues reaffirmed the structural growth trend in coffee and the renewed interest in the nutrition area for the sixth consecutive quarter, and highlighted growth in the household sector of around 12% over the last three months.
These results once again demonstrate the Group’s ability to seize the opportunities of a structurally expanding market, also thanks to the effectiveness of investments dedicated to innovation and brand communication.” commented CEO Fabio de’ Longhi.
Europe’s new industrial strategy
With 75% of large and 50% of small appliances made and sold in Europe, the home appliance industry is a major economic asset for the EU.
In designing the Clean Industrial Deal, the European Commission must ensure that this industrial excellence is preserved and enhanced.
Today the sector supports 1 million families across the EU, but this workforce is at risk if there are no clear signals from policymakers encouraging manufacturing within Europe.Read the full analysis: https://applia-europe.eu/news-applia/5-reasons-home-appliances-are-key-to-europes-new-industrial-strategy
Electrolux Q4 earnings beat estimates
Electrolux reported strong fourth-quarter results, with an operating profit of SEK 1.25 billion (€1.09 million), slightly above analyst expectations. Sales rose by 6.5% to SEK 37,968 million (€3.3 billion), with organic sales growth at 11.5%.
CEO Yannick Fierling highlighted improvements in the North American market, driven by new products and increased productivity. He also noted the divestment of asbestos claims in the U.S., providing greater financial transparency. In Latin America, the group performed well with an 8.0% operating margin.
However, potential U.S. tariffs could create uncertainty in the North American market, leading to an initial stock drop of nearly 10% on the Stockholm Stock Exchange, which has since partially recovered. Electrolux announced no dividend for 2024.
BSH sneak peak at new ovens
Meet BSH new ovens from Wrocław factory these devices manufactured in the Lower Silesian factory are in the high energy class A + and combine attractive design and functions that affect the comfort of use. The glass, black control panel adds elegance to the ovens and provides an attractive appearance . Customers can choose between touch-controlled and manual devices. The new models are equipped with removable glass in the door, which can be easily dismantled and easily cleaned. Wrocław ovens also have new functions , such as the recently popular baking using hot air (“AirFry”).
Whirlpool shares fall
Whirlpool shares are falling sharply following the appliance manufacturer’s fourth quarter earnings report, which fell short of analysts’ expectations. The company missed Wall Street’s revenue and profit forecasts, while also issuing lower-than-expected guidance for 2025.
De’Longhi closes 2024 with 14% growth and forecasts +6% for 2025
2024, De’ Longhi recorded revenues of approximately 3.5 billion, up 13.7% (+6.6% at constant perimeter). In the fourth quarter, revenues were 1,268 million, up 17.7% (+11.1% at constant perimeter). In the 12 months, revenues were 3,497 million. EBITDA is expected to be 555 million euros.
For 2025, revenue growth is expected to be between 5 and 7%.
Haier European manufacturing update
Haier Europe has signed an agreement today with trade union representatives regarding the reconversion project of the Brugherio production site. The agreement follows the meeting of 20 January, during which the company presented the European business transformation plan to the
#unions . The project, which will be structured in several phases starting from July 1st, will have the objective of transforming the Brugherio plant into the Haier Europe Service Hub, dedicated to spareparts , which will serve the European markets in which the company operates. In particular, the project involves the consolidation of logistics activities, including reception, storage, packaging and shipping. Following the reconversion plan, the plant will have a storage capacity of approximately 50,000 pallet spaces, distributed over an area of 44,000 square meters. To support this transformation, Haier Europe has planned an #investment of between 6 and 9 million euros. With the reconversion plan of the Brugherio site and the start of the Service Hub activities, the company expects to employ approximately 110 people of the 160 #employees currently employed at the production site. In addition to the Service Hub, Brugherio will continue to host the European management center (HQ) – together with the offices in Vimercate – the Milan Experience Design Center and the research and development laboratories dedicated to connectivity and the Internet of Things, to support all product lines, for a total of approximately 900 people
Whirlpool India shares plunge as parent plans to halve stake
Whirlpool Corp said it would more than halve its stake in its Indian unit to about 20%, sending Whirlpool of India’s shares plunging an exchange-allowed maximum of 20% to a near ten-month low on Thursday.
The U.S.-listed home appliance maker, which currently has a 51% stake in the India unit, said it estimates net cash proceeds, opens new tab of $550 million to $600 million from the sale, which it expects to close by mid-to-late 2025.The company will remain Whirlpool of India’s largest shareholder, followed by a number of mutual funds with stakes of less than 10%.
Whirlpool Corp sold a 24% stake in the Indian unit for about $468 million last year and the latest sale comes as it aims to pay off a major chunk of its debt amid a major rejig of its global assets, including folding its European business into a new firm and selling its Middle Eastern and African businesses
Morphy Richards UK, is relocatin
Consumer Brands Limited, the licensee of Morphy Richards UK, is relocating its headquarters to Whittle Court in Hanley, Stoke-on-Trent, following a six-figure investment in the refurbishment of the building. The move will accommodate the company’s sales, marketing, and customer service teams.
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