Category Archives: Uncategorized

Gorenje Hisense Expand factory

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Alex Zhu, CEO of Hisense International, visited the Gorenje factory in Valjevo, Serbia, where he was welcomed by Stanka Pejanović, Vice President of Hisense International, Executive Vice Presidents of Hisense Europe, Chao Liu and Tomaz Korosec, and Vladimir Milosavljevic, Director of Gorenje Valjevo.

After a meeting with the management of Gorenje Valjevo and visiting the current production facilities, Mr. Zhu also visited the construction site of the new factory, which started recently. The new factory will operate on 30,000 m2 and will be engaged in the production of side-by-side refrigerators. It will provide 1,000 new jobs, and the planned start of production is February 2023.

Electrolux Professional sells Russia business to local management

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Sweden’s Electrolux Professional is selling its business in Russia to its local management and leaving the country, the company said on Monday.

“As a result of the continued war and sanctions, we foresee that we will not be able to sell and service products in Russia in the medium to long term,” the maker of appliances for professional use said in a statement.

“Following the assessment that business continuity in Russia, in the current situation, is not feasible, Electrolux Professional is to cease its operations in the country,”

Samsung Bespoke appliances

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Samsung Bespoke design ethos has been listening to consumers. For instance, the company launched a worldwide design contest, providing consumers with Bespoke refrigerator panels as a blank canvas for self-expression. The contests started in Korea with #BESPOKE Rendezvous in 2019. Samsung took to the trendy streets of Hongdae, Seoul with a 3-day pop-up event to launch the design contest, joined by celebrities and performers.

Attendees got to see first-hand the modularity of the Bespoke refrigerators in various configurations and were encouraged to create their own designs in exploring the freedom of design. Also in attendance at the event, world-famous graffiti artist Artime Joe of street art team Stick Up Kids performed a live drawing on refrigerator panels.
In September 2021, a contests was held in Singapore and globally from the U.K., followed by Vietnam in December. Following those, Samsung also launched a design contest in the U.A.E. earlier this year.

In addition, Samsung launched MyBespoke offering North American users a chance to express their individualism by designing their own Bespoke refrigerator panels from start to finish. To start things off, three influencers took part in designing panels on the Bespoke French Door refrigerator. Later this year, MyBespoke will be opened to the North American public, marking the first time users will have the opportunity to create truly one-of-a-kind panels for Bespoke refrigerators.

BARAZZA PRESENTS ZEFIRO, THE FIRST DOMESTIC AIR SANIFICATION SYSTEM FULLY INTEGRATED INTO AN OVEN

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𝘡𝘦𝘧𝘪𝘳𝘰 𝘪𝘴 𝘵𝘩𝘦 𝘧𝘪𝘳𝘴𝘵 𝘴𝘺𝘴𝘵𝘦𝘮 𝘪𝘯 𝘵𝘩𝘦 𝘸𝘰𝘳𝘭𝘥 𝘤𝘢𝘱𝘢𝘣𝘭𝘦 𝘰𝘧 𝘵𝘳𝘢𝘯𝘴𝘧𝘰𝘳𝘮𝘪𝘯𝘨 𝘵𝘩𝘦 𝘣𝘶𝘪𝘭𝘵-𝘪𝘯 𝘰𝘷𝘦𝘯 𝘪𝘯𝘵𝘰 𝘢 𝘳𝘦𝘢𝘭 𝘢𝘪𝘳 𝘴𝘢𝘯𝘪𝘵𝘪𝘻𝘦𝘳 𝘦𝘭𝘪𝘮𝘪𝘯𝘢𝘵𝘪𝘯𝘨 𝘷𝘪𝘳𝘶𝘴𝘦𝘴, 𝘣𝘢𝘤𝘵𝘦𝘳𝘪𝘢, 𝘨𝘦𝘳𝘮𝘴 𝘢𝘯𝘥 𝘰𝘥𝘰𝘶𝘳𝘴 𝘢𝘯𝘥 𝘮𝘢𝘬𝘪𝘯𝘨 𝘵𝘩𝘦 𝘩𝘰𝘮𝘦 𝘢𝘪𝘳 𝘴𝘢𝘧𝘦𝘳; 𝘢 𝘶𝘯𝘪𝘲𝘶𝘦 𝘢𝘯𝘥 𝘦𝘹𝘤𝘭𝘶𝘴𝘪𝘷𝘦 𝘱𝘭𝘶𝘴 𝘵𝘩𝘢𝘵 𝘦𝘯𝘳𝘪𝘤𝘩𝘦𝘴 𝘵𝘩𝘦 𝘢𝘭𝘳𝘦𝘢𝘥𝘺 𝘸𝘪𝘥𝘦 𝘳𝘢𝘯𝘨𝘦 𝘰𝘧 𝘧𝘶𝘯𝘤𝘵𝘪𝘰𝘯𝘴 𝘢𝘯𝘥 𝘦𝘲𝘶𝘪𝘱𝘮𝘦𝘯𝘵 𝘰𝘧 60 𝘐𝘤𝘰𝘯 𝘰𝘷𝘦𝘯𝘴.

Using the tangential ventilation of the appliance, the air to be purified is sucked through a series of holes specially placed on the rear side of the oven.

2) Once inside, the air is conveyed to the upper side and channeled through a double beam of germicidal ultraviolet light, emitted by two UV-C LED plates; the germicidal ultraviolet light modifies the DNA or RNA of the microorganisms it irradiates, preventing them from reproducing or being harmful to humans.

3) Purified from harmful substances and bad smells, the air is reintroduced into the environment through the slot located on the front of the oven, between the door and the front controls.

The system can be activated in a simple and intuitive way on the different types of oven that provide it, but only when the appliance is not engaged in a cooking phase. It can work for time intervals between 2 and 8 hours, with waste of one hour, depending on the size of the environment to be purified
𝙏𝙝𝙚 𝙕𝙚𝙛𝙞𝙧𝙤 𝙨𝙖𝙣𝙞𝙛𝙞𝙘𝙖𝙩𝙞𝙤𝙣 𝙨𝙮𝙨𝙩𝙚𝙢 𝙞𝙨 𝙞𝙣𝙩𝙚𝙜𝙧𝙖𝙩𝙚𝙙 𝙞𝙣 𝙖𝙡𝙡 𝘽𝙖𝙧𝙖𝙯𝙯𝙖 60 𝙘𝙢 𝙄𝙘𝙤𝙣 𝙤𝙫𝙚𝙣𝙨.

The Zefiro system transforms the oven into a real air sanitizer, capable of improving the quality of life inside the rooms of the house by performing a complete set of functions:

It purifies the air from viruses and bacteria, sanitizing the rooms and making them safer.
It helps to remove bad smells from the kitchen environment, being able to work simultaneously with the hood, speeding up operations.
By requiring the use of only tangential ventilation, and thanks to the automatic shutdown of the oven interior light when the sanitization is in operation, consumption is so reduced as to allow frequent and prolonged use of the system.

Bertazzoni

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Bertazzoni has launched a new three-year investment plan (2021-2023) of 15 million euros for product innovation, digitization, the recruitment of new specialized figures and the development of strategic international markets such as China, where Bertazzoni has opened a new commercial branch in September 2021.

Arçelik, Named in Top Three Companies at Real Leaders Eco Innovation Awards

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This week, Real Leaders® launched the inaugural Eco Innovation Awards to its global community of social impact executives. Arçelik, parent company to 12 leading home appliance brands including Beko and Grundig, has been ranked 3rd in the Top 50 list for its world first integrated FiberCatcher® technology washing machine.

Real Leaders® Eco Innovation Awards recognizes products, projects, and initiatives that are actively contributing to a healthier planet and celebrates achievement in making an environmental impact. Entries were judged on their creativity, innovation, originality, and measurable impact, as well as their ability to help solve an environmental challenge.

One key issue is synthetic microfibers which are the most prevalent type of microplastics found in water, contributing to around 33% of microplastics in the ocean1. To combat the growing tide of microplastic waste, Arçelik developed the innovative FiberCatcher® technology. The washing machines with FiberCatcher® technology include the world’s first integrated synthetic microfiber filtering system that catches up to 90% of synthetic fibers released from garments, which helps protect waterways, oceans, and marine life. Additionally, each FiberCatcher® washing machine produced with a recycled PET tub contains up to 60 recycled bottles to reduce plastic waste.

“We are honored to have our innovation recognized by Real Leaders and pleased to be in the company of our fellow award winners,” said Hakan Bulgurlu, CEO of Arçelik. “The climate crisis is the most pressing issue of our day, and we need creative, innovative solutions as well as collaborative action to ensure a sustainable future. Our FiberCatcher® technology is a world-first innovation in preventing synthetic fiber waste leaking into waterways and demonstrates our commitment to develop effective and concrete solutions to some of our biggest environmental challenges as well as to encourage others to live a more sustainable lifestyle.”

About Arçelik

With over 40,000 employees throughout the world, Arçelik’s global operations include subsidiaries in 52 countries, and 28 production facilities in 9 countries and 12 brands (Arçelik, Beko, Grundig, Blomberg, ElektraBregenz, Arctic, Leisure, Flavel, Defy, Altus, Dawlance, Voltas Beko). As Europe’s second-largest white goods company by market share (based on volumes), Arçelik reached a consolidated turnover of 6.5 billion Euros in 2021. Arçelik’s 28 R&D and Design Centers & Offices across the globe, are home to over 2,200 researchers and hold more than 3,000 international patent applications to date. In 2021, Arçelik achieved the highest score in the DHP Household Durables category for the 3rd year in a row in the Dow Jones Sustainability Index of the S&P Global Corporate Sustainability Assessment. Through its leadership position in sustainability and credible decarbonization roadmap for achieving net zero, Arçelik became the first and only company from its industry to receive the Terra Carta Seal by HRH Prince of Wales. Arçelik’s mission is ‘Respecting the World, Respected Worldwide

Currys posts rise in profit but warns of ‘uncertain’ outlook

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Currys has posted an increase in full-year earnings but cautioned that “the outlook for consumer spending is uncertain” as the cost-of-living crisis mounts.

The electricals giant registered a 19% uplift in adjusted pre-tax profit to £186m in the year to April 30. Adjusted EBIT climbed 5% to £274m in what it called “a year of significant change, uncertainty and disruption”.

Currys’ core UK and Ireland business delivered a 21% improvement in adjusted EBIT to £111m, while earnings from its international operations contracted 4% to £163mAlex Baldock, Group Chief Executive
“These strong results show the vital role that technology plays in millions of lives, and that more and more
customers are turning to Currys to help them enjoy that technology to the full.
We owe this performance to our thousands of capable and committed colleagues, who’ve built a stronger Currys.
They’ve loved seeing customers returning to our stores in droves, and helping them with face-to-face expert advice
and the full range of our services that ensure customers stick with us. Stores, in tandem with online, give our
customers the omnichannel best of both worlds they clearly prefer.
A stronger business allows us to help customers through the cost of living crisis. Our well-established price promise
means customers “won’t get it cheaper. Full stop” on all products and today we’re going even further with “2021
Price Lock”, our new price freeze on dozens of great products. We’re investing in our energy-efficient “Go Greener”
range. We’re doing more to help customers spread the cost, announcing “12 month Pay Delay” on every purchase
over £99. And we’re doubling down on giving longer life to the technology customers already have; as leaders in
protection, repair, trade-in and recycling, we’re uniquely placed to do so.
Our scale as an international market leader, our grip on costs and our strong relationships with suppliers will allow
us to manage inflationary headwinds and keep amazing technology within reach of everyone, even now. That’s
what Currys exists to do, and it’s never mattered more.”
Key Highlights
 Strong operational and financial performance; adjusted EBIT margins improved to 2.7% (2020/21: 2.5%)
 Record highs in colleague engagement and customer satisfaction
 Group store sales up +24% (UK&I +61%), higher than expected as customers rediscovered the benefits of stores
 International: Generated 46% of sales and 59% of adjusted profits; entered new market with two stores in Cyprus
 UK&I: Returned to market share growth; sustainable in-year cost savings of £69m
 Repaired over 1.7m pieces of tech during the year
 Ended year with good availability and prudent stock levels
Financial Performance
 Group LFL (3)% (Yo2Y +10%); Revenue (2)% (Yo2Y flat)
 Group adjusted PBT £186m included a level of unexpected network debtor revaluations and settlements (2020/21:
£156m)
 Group Profit before tax £126m (2020/21: £33m)
 Free cash flow £72m inc £(88)m working capital outflow (2020/21: £438m inc £454m working capital inflow)
 Year-end net cash £44m (2020/21: £169m) with average net cash £290m, compared to average borrowings of over
£350m two years ago
 IAS 19 Pension liability reduced to £(257)m (2020/21: £(482)m)
 £78m returned to shareholders in dividends and buybacks, proposed final dividend of 2.15p to take full year
dividend to 3.15p, +5% YoY and remainder of buyback to be executed
All figures are year-on-year unless stated. There are a number of non-GAAP measures and alternative profit measures “APMs” discussed within this announcement.
Adjusted results are consistent with how business performance is measured internally and presented to aid comparability of performance. Refer to the glossary and
definitions section set out at the end of this report for further details on definition, purpose, and reconciliation to nearest statutory measure

Aham

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Aham, the North American Association of Home Appliance Manufacturers, has named Kelly Mariotti, executive director of the Juvenile Products Manufacturers Association as Aham president & CEO. On July 18, she will succeed Joseph McGuire, Aham’s leader for the past 23 years, who announced his retirement last November.

Samsung and LG Slowdown

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Samsung Electronics and LG Electronics are set to announce falling sales of home appliances and TVs in the second quarter as people have been spending more time outside rather than staying home,
“Demand for home appliances and TVs continued to slow down in the second quarter, as the global economic downturn and inflation intensified. This is expected to have adversely affected the profitability of product makers,” an official from a local home appliance company said on condition of anonymity.

“Home appliance makers focused on selling premium models and new models during the second quarter due to the expected drop in demand in the market. They also have started to enhance profitability by expanding the global market for their products,” another industry official said, asking not to be named.


The two home appliance makers will announce their preliminary earnings for the April-June period on July 7. According to the consensus among local brokerage houses, Samsung is expected to announce sales of 77.22 trillion won ($59.46 billion) and 14.79 trillion won in operating profit in the second quarter, up 21 percent and 18 percent, respectively, from a year ago.

Though the figures have improved from the same period in 2021, the numbers are lower than the forecast made in May. At that time, the consensus showed Samsung would post 78.68 trillion won in sales and 15.29 trillion won in operating profit.

“Samsung Electronics’ second-quarter earnings are expected to fall below expectations due to a decrease in demand for set businesses such as smartphones, TVs and home appliances,” Kim Dong-won, a researcher at KB Securities, said.

“Considering macro-economic uncertainties such as inflation, disruption of parts supply chains and the Russia issue, it is unlikely that demand for smartphones and PCs will be offset by demand for memory in servers and displays for iPhones alone,” the researcher added.

Market consensus also showed that LG Electronics, where home appliances account for a larger portion of sales than Samsung, is expected to post 19.39 trillion won in sales and 866.4 billion won in operating profit. The latter figure is a sharp drop from the second quarter of 2021 when it posted 1.11 trillion won in operating profit.

The KB Securities researcher said that LG’s second-quarter operating profit is expected to decrease, but the company’s Vehicle component Solutions Division will offset the falling earnings as the division, which mainly sells infotainment systems for vehicles, is expected to shift a surplus.