Electrolux cost reduction program

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Electrolux is initiating a cost reduction program on the back of weaker-than-expected market demand and weak earnings in the third quarter. The cost measures are expected to result in a material positive earnings contribution in 2023. In combination with supply chain imbalances resulting in significant production inefficiencies and increased costs, the third quarter earnings for the Group are expected to decline significantly compared to the second quarter 2022 also excluding the one-time cost to exit the Russia market. This has been driven mainly by Europe and North America. Business Area North America is expected to report an operating loss in the third quarter exceeding the loss in the second quarter.

Since market demand for 2023 is expected to continue to be weak in both regions, the Board of Electrolux has decided to initiate a Group-wide cost reduction program addressing both variable and structural costs. The program, which starts immediately, will focus on reducing variable costs, with special attention to eliminating cost inefficiencies in the company supply chain and production. The structural cost reductions will primarily take place in Europe and North America and include prioritization and efficiency measures leveraging recent organizational changes. The measures include increasing productivity in operations as well as optimizing the R&D portfolio, administration, sales and marketing activities.

In business area North America, the strategy to strengthen and broaden Electrolux product offering with consumer experience innovations remains. However, the production transformation with two new facilities and several new product platforms, in combination with the particularly challenging supply chain conditions in the region, require additional measures to return to stability and profitability. A turnaround program will therefore be conducted under the leadership of Ricardo Cons, who has been appointed new Head of Business Area North America. Ricardo Cons has successfully led the transformation of the Electrolux business in Latin America over the last six years. He succeeds Nolan Pike, who takes up a new position continuing to report to Anna Ohlsson-Leijon. A new leader of Electrolux Latin America is anticipated to be appointed shortly.

Novy Group announces appointment of new global CEO

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Novy has announced the promotion of Francis Gistelinck from commercial director to chief executive officer for global operations. His new role officially commenced on 1st September 2022.

Based at the company’s HQ in Kuurne, Belgium, Gistelinck takes over from CEO, Carlos Wanzeele, who has stepped down from his eight-year tenure following the successful sale of the family-run business to Middleby Residential. Whilst in the role, Wanzeele doubled the company’s turnover from 45million to over 100million Euros.

Francis Gistelinck started work at the Novy Group in 2016. Together with Carlos Wanzeele, they developed a global growth expansion strategy for Novy, which included the appointment of Owain Harrison as country manager who set up the first ever Novy UK and Ireland subsidiary, launching in 2017. Since then, the Novy brand has firmly established itself as a leading name in luxury extraction and vented induction hobs, with a network of kitchen specialists throughout the UK. The company says that Gistelinck will be focusing on further growth the brand, including new innovations in product development, whilst building synergies for Novy’s distribution and operations within the Middleby Residential portfolio around the world.

Largest acquisition in the history of Ariston Group :

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This is the largest acquisition in the history of Ariston Group : 703 million euros in cash and approximately 41.42 million shares for a value of approximately 300 million, for 100% of the capital of the German Centrotec Climate System. particular thanks to the brands Wolf, Brink, Pro-Klima and Ned Air, specialized in the supply of solutions for heating, ventilation and air treatment and solutions for the combined generation of heat and energy. “Wolf is a pioneer brand in the sector –

specializing in new generation heat pumps, while Blink, a Dutch brand, is active in the production of devices for domestic ventilation, a sector that is still a niche sector that concerns in particular thermally insulated buildings, those with zero emissions of the new generation that still need a change of air and that are moving from the use of fossil fuel to that of renewable energy.

Liebherr focused on energy efficiency

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LiebherrAppliances will remain focused on energy efficiency at the 2022 Kuechenmeile kitchen fair.
Visit this exhibition to see the latest energy-efficient integrated and freestanding appliances – all equipped with the latest freshness technologies. In addition, innovative technology such as BluRoX makes it possible for freezers to meet “A” and “B” energy classes for the first time. BluRoX technology is not only energy efficient but also allows for larger interior volume and effective resource protection due to the circular properties of the perlite.

Additionally, the launch of the new AutoDoor feature was designed especially for fully integrated appliances – the first refrigerators and freezers in the world to open and close fully automatically, helping preserve energy. You only need a light knock, a voice command, or the tap of your smart device app to open the door, and not just a little – but completely. Ninety degrees!

Bosch awarded for its smart home

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Bosch was named “Connected Home Company of the Year” in the 6th annual IoT Breakthrough Awards program conducted by IoT Breakthrough, a market intelligence organization that recognizes the top companies, technologies and products in the global Internet-of-Things (IoT) market today. The German brand offers a range of home appliances across its product categories to be remotely controlled and monitored with a single app. Many of these innovations are integrated with the Home Connect smart platform, allowing consumers to remotely monitor and control their major appliance from a smart device.

«While we seek to bring excitement into the home, Bosch has a firm belief that appliances and technology should first offer true value in simplifying everyday life, rather than innovating something just for the sake of innovation – said Bosch Senior Brand Manager, Diana Lunzer-. We believe that connectivity should begin with a superior appliance, automating the mundane while still allowing users to enjoy kitchen and household activities without the gimmicks.»

The Home Connect app works with Bosch ovens, cooktops, range hoods, refrigerators, dishwashers, coffee machines, and laundry pairs. The one-stop app allows users to intelligently manage and organize household tasks while controlling functionality, receiving alerts, and automating certain processes with each appliance.

Sabaf acquires PGA and strengthens itself in electronics

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Sabaf acquires 100% of the capital of Fabriano’s PGA srl, which has been designing and assembling electronic boards for the household appliances sector for 25 years: suction, refrigeration, air quality control and water supply. PGA2.0 is part of PGA dedicated to the design and prototyping of innovative solutions based on interconnection and the Internet of Things (IoT).The two companies have 36 employees and in 2021 they had a turnover of 11.5 million. The agreement evaluates the company of the brothers Andrea and Paolo Cennimo for 9.76 million euros: 5 times the average annual consolidated Ebitda in the three-year period 2020-2022. 75% of the price will be paid in cash and the rest through the sale of Sabaf shares. Andrea and Paolo Cennimo will remain at the helm of PGA as Managing Directors.

The Sabaf Group is already active in the electronics sector through the Turkish subsidiary Okida Elektronik, a company acquired in 2018 and which is experiencing rapid business development, also thanks to the contribution of Sabaf’s global sales network

Neato new model

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Neato D800 features the D-shaped design, which allows user to clean even in the corners. Thanks to Neato LaserSmart technology, the device also cleans in the dark and under furniture. Furthermore, the use of LIDAR technology not only provides an accurate mapping, but also preserves privacy, as there are no cameras. The robot can be controlled remotely with the MyNeato app or by using voice commands via Google Assistant and Amazon Alexa. Routines or no-go zones can be set at any time. Neato D800 has an autonomy of about 90 minutes and covers 60 m2. If there is a larger area to clean, the robot automatically reloads with Quickboost so it can handle the remaining area.

Gaggenau culinary warming drawers

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Designed with compelling aesthetics, considered use of materials and a connected User Interface, Gaggenau’s new culinary warming drawers are the perfect addition to your kitchen. Whether slow cooking a delicious meal, resting a perfectly cooked roast, or keeping meals warm until you are ready to enjoy them – with a uniform heat distribution from 30 °C up to 80 °C, this culinary warming drawer is the perfect slow cooker for gourmet versatility.

The completely redesigned control panel features touch keys that facilitate an abundance of abilities, including preset temperature controls to slow cook, heat, dry and warm. Create an effortless cuisine by choosing different temperatures for defrosting, melting chocolate, dough proofing, maturing yoghurt, dehydrating fruits and herbs, and warming dishes. Enjoy smart cooking with Home Connect, an inspired way to explore new recipes within the app.

Available in the 200 and 400 series, you can choose your design with an aesthetic that complements your Gaggenau kitchen appliances, including ovens, coffee machines, combi-microwaves and – steam ovens. Or place it under your countertops in your choice of kitchen furniture facias.
Explore our new culinary warming drawer:

Electrolux has warned of a steep drop in demand for its home appliances

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Sweden’s Electrolux on Monday announced plans to cut costs and warned its profit would drop as high inflation and low consumer confidence squeezed demand for its home appliances, while large investments in North America had yet to pay off.

Demand for appliances in Europe and the United States decreased at a significantly accelerated pace in the third quarter, with high retailer inventories and supply chain imbalances increasing costs and inefficiencies, Electrolux said.

Third quarter earnings for the group are expected to decline significantly compared to the second quarter 2022 also excluding the one-time cost to exit the Russia market,” the group said in a statement.