Arçelik Once Again Named as One of The Most Sustainable Companies in The World

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Arçelik of the leading household appliance manufacturers including global brands such as Beko and Grundig has ranked 34 on Corporate Knights’ 2021 Global 100 Index. The ranking makes Arçelik the most sustainable home appliances and houseware company in the world, and the first and only Turkish company to make the list.   

The 2021 Global 100 Index is the 17th annual ranking of the world’s 100 most sustainable corporations by Corporate Knights which rigorously assesses the performance of 8,080 companies with more than US$1 billion in revenues. The Index assess the companies based on several performance indicators that reflect environmental, social and governance (ESG) concerns. The list celebrated the world’s 100 most sustainable corporations delivering superior financial performance and leading the race to net zero economy.

Operating in nearly 150 countries and adopting sustainability as a business model with its “Respecting the World, Respected Worldwide” vision, Arçelik accomplished important milestones around its sustainability efforts. The company succeeded in becoming carbon-neutral in global production in 2019 and 2020 with its own carbon credits and is named the “Industry Leader” in the Household Durables category for the 2nd year in a row in the Dow Jones Sustainability Index. Arçelik’s 2030 greenhouse gas emission reduction targets are approved by the Science Based Targets Initiative (SBTi) as in line with the Paris Agreement’s “well-below 2°C” goal

LG ANNOUNCES 2020 FINANCIAL RESULTS

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LG Electronics Inc. (LG) announced a strong year with 2020 revenues of KRW 63.26 trillion (USD 56.45 billion) and record-setting operating profit of KRW 3.20 trillion (USD 2.85 billion), an increase of 31.1 percent over 2019, driven primarily by higher sales of premium home appliances and OLED TVs as well as strong growth in vehicle component solutions.

Sales in the fourth quarter of KRW 18.78 trillion (USD 16.76 billion) grew 16.9 percent from the same period of 2019 and were 11 percent higher than the previous quarter. Despite the impact of COVID-19, the quarter’s operating profit of KRW 650.20 billion (USD 580.19 million) increased significantly by 539 percent compared to the fourth quarter of 2019.

While COVID-19 and slow economic recovery remain concerns for 2021, LG expects the global economy to normalize under the sound fiscal policies of world governments and the successful implementation of vaccinations. In 2021, core technologies such as AI, 5G, IoT and mobility will be widely applied to various LG business areas.

The LG Home Appliance & Air Solution Company ended another healthy year with record 2020 revenues of KRW 22.27 trillion (USD 19.87 billion), an increase of 3.5 percent increase from the previous year, and operating profit of KRW 2.35 trillion (USD 2.10 billion), another record. Results reflect increased sales of new appliance categories and the home appliance rental business in South Korea. Fourth-quarter revenue of KRW 5.54 trillion (USD 4.94 billion) was the highest fourth quarter in the company’s history, an increase of 20 percent year-on-year with double digit growth in South Korea, North America and Europe.

The LG Home Entertainment Company reported 2020 revenues of KRW 13.18 trillion (USD 11.76 billion) and operating profit of KRW 969.70 billion (USD 865.29 million), a 22.9 percent increase over the previous year. Sales in the quarter of KRW 4.28 trillion (USD 3.82 billion) were 7.9 percent higher than the fourth quarter of 2019 and up 16.7 percent from the previous quarter. Quarterly operating profit of KRW 204.50 billion (USD 182.48 million) reflected increased sales in North America and Europe.

The LG Mobile Communications Company announced full-year 2020 revenues of KRW 5.22 trillion (USD 4.66 billion). Fourth-quarter sales of KRW 1.39 trillion (USD 1.24 billion) were 4.9 percent higher than the same quarter of 2019 but 9.2 percent lower than the previous quarter due to shortages of 4G chipsets and sluggish sales of premium smartphones in overseas markets. The full-year operating loss totaled KRW 841.20 billion (USD 750.63 million), reflecting increased marketing investments to support flagship devices, partially offset by fixed cost reductions due to manufacturing efficiencies.

The LG Vehicle Component Solutions Company reported sales in 2020 of KRW 5.80 trillion (USD 5.18 billion), growth of 6.1 percent over 2019. Revenues in the fourth quarter of KRW 1.91 trillion (USD 1.71 billion) were 41.3 percent higher than the same quarter the previous year driven in large part by the recovery of demand in key automotive markets including North America and Europe and higher sales from new projects. The modest fourth-quarter operating loss of KRW 2 billion (USD 1.78 million) improved year-on-year and quarter-on-quarter due to sales increases aligned with the recovery of market demand in the second half, as well as improved cost management.

The LG Business Solutions Company achieved 2020 revenues of KRW 6.01 trillion (USD 5.36 billion) with an operating profit of KRW 457.88 billion (USD 408.51 million) due to demand growth for IT products related to remote working and online learning. Fourth-quarter sales of KRW 1.51 trillion (USD 1.35 billion) were 4.8 percent higher than the same period of 2019, while quarterly operating profit was KRW 70.30 billion (USD 62.73 million), lower than the previous year due higher prices for major components and global logistic costs. The market for information displays is expected to improve as global demand recovers while demand for IT products continues to grow. The company’s solar module business is expected to improve with increased demand for renewable energy in major developed markets.

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Cata home appliances has very good results in 2020. The Spanish company, based in Madrid, with a factory in Catalonia has managed to increase its sales in the Spanish market by 3.7%, to 79.9 million euros .

During the 2020 financial year, the company has had the support of financial institutions and new developments have been signed in the refinancing agreements, which have allowed the company to have circulating financing and to continue growing in 2021.

contributing to this good performance is that the group’s factories have worked tirelessly to meet all market orders.

It should be noted that the entire CNA Group has continued to develop its export activity, which has represented 65% of the company’s total consolidated sales.

For 2021, the CNA Group plans to continue growing moderately above 2020 and, for this, among other actions, they will expand their product ranges with many new features.

Cata launches a new family of air purifiers on the market this year. It is Cata Purifyer, a product that can actively reduce the contagion of Covid-19 both in homes, as in businesses and in all kinds of commercial and industrial activities.

CNA Group is a global leader in the home appliances sector and has recognition across the world. It includes the Cata, Nodor, Apelson, Edesa* brands.

CNA Group is committed to offering the latest in technology and design. Together these provide the high performance and efficiency required to meet the needs of our customers. It was founded in Barcelona in 1947 and since then has been a pioneer in the domestic extraction business, with a wide range of products which includes extractors, conventional and decorative extractor hoods, ovens, cookers, microwaves, taps and sinks, using high quality, environmentally friendly materials . The company includes Cata, Apelson (integrated in the group in 1999), Nodor (in 2004) and Edesa (in 2014)*. In the CNA Group we work with a clear focus on improving the products we sell, providing solutions and creating new sensations for our customers in their use.
*CNA Group is a licensee of Edesa brand.

LG expanding factory

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LG Electronics said it plans to promote its smart factory push as the home appliance maker targets improving its productivity.

LG announced it will spend 50 billion won (US$45 million) from February to set up a new home appliance product testing facility at its second factory in Changwon, some 400 kilometers south of Seoul.

The new facility will integrate all existing testing labs at the factory, according to LG.

The South Korean tech giant said the forthcoming facility will accelerate digitalization in its product development as it will collect big data through various sensors during the testing process.

This photo provided by LG Electronics Inc. on Jan. 20, 2021, shows the company's plant in Changwon, some 400 kilometers south of Seoul. (PHOTO NOT FOR SALE) (Yonhap)

LG’s Changwon 2 factory produces home appliances including washers and vacuum cleaners.

The latest investment is a follow-up to LG’s smart factory project for its first factory in Changwon.

In 2017, LG announced that it will inject 600 billion won into the Changwon 1 factory by 2030 to upgrade its production system with the latest automation and big data solutions.

The company believes that the investment will improve production capacity of the Changwon 1 factory by 50 percent. The Changwon 1 factory rolled out 2 million units of kitchen appliances, such as refrigerators and ovens, in 2017.

White Goods Market Is Expected to Reach $1031.00 Bn, globally, by 2027

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According to the report published by Allied Market Research, the global white goods market was estimated at $635.4 billion in 2019 and is expected to hit $1031.0 billion by 2027, registering a CAGR of 7.8% from 2021 to 2027.

Rise in disposable income, growth in advertisement and internet penetration, and surge in the number of restaurants and hotels fuel the growth of the global white goods market. On the other hand, usage of white goods affects the environment and promotes health issues, which impedes the growth of the market. However, launch of new eco-friendly products and further technological advancements are expected to present number of opportunities in the near future

Arçelik Named as One of the Real Leaders Top 150 Impact Companies of 2021

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Arçelik, parent company to 12 leading home appliance brands including Beko and Grundig, with a footprint in almost 150 countries worldwide has been ranked 13th on The Real Leaders®️ Top 150 Impact Companies of 2021.

Arçelik Named as one of The Real Leaders Top 150 Impact Companies of 2021

The Real Leaders 150 Top Impact Companies Award recognises organisations that are making a positive social or environmental impact. The key is to seek those companies which can make the world a better place. Adopting sustainability as a business model with its “Respecting the World, Respected Worldwide” vision enable Arçelik to be listed among 150 companies.

Within the framework of its sustainability approach that complies with the UN Sustainable Development Goals (SDGs), Arçelik focuses on the future, the planet, and the needs of people and its business. The company believes that steps need to be taken to go beyond the current habits and behaviour models, the way people think now, and everything that is thought to be impossible today.

Arçelik CEO Hakan Bulgurlu said, “We are honoured to receive this award and be recognised for our mission to create a positive impact by designing technologies that improve the future. We are named the “Industry Leader” in the Household Durables category for the 2nd year in a row in Dow Jones Sustainability Index 2020 and became carbon-neutral in global production in 2019 and 2020 with our carbon credits. Our 2030 greenhouse gas emissions reduction targets are approved by the Science Based Targets Initiative (SBTi) as in line with the Paris Agreement’s goal. Being among the low-carbon transition corporate leaders, we’re proving our commitment to building a sustainable future by letting the science dictate our course of action. We will continue to contribute to the protection of our planet and encourage others to live a more sustainable lifestyle.”

A complete list of the “150 Top Impact Companies” can be found here. 

About Arçelik

With 32,000 employees throughout the world, 12 brands (Arçelik, Beko, Grundig, Blomberg, ElektraBregenz, Arctic, Leisure, Flavel, Defy, Altus, Dawlance, Voltas Beko), sales and marketing offices in 34 countries, and 22 production facilities in 8 countries, Arçelik offers products and services in more than 145 countries. As Europe’s second largest white goods company by market share (based on volumes), Arçelik reached a consolidated turnover of 5 billion Euros in 2019. With almost 70% of its revenues coming from international markets, Arçelik is the R&D leader in Turkey – holding more than 3,000 international patent applications to date with the efforts of 1,600 researchers in 15 R&D and Design Centers in Turkey and R&D Offices across five countries. Arçelik is named the “Industry Leader” in Durable Home Appliances category for the 2nd year in a row in Dow Jones Sustainability Index 2020 and in accordance with PAS 2060 Carbon Neutrality Standard, became carbon-neutral in global production plants in 2019 and 2020 fiscal years with its own carbon credits.

Samsung’s Bespoke home appliance shipments passes 1 million units

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Samsung Electronics announced on Wednesday that global shipments of its lifestyle home appliance brand Bespoke exceeded 1 million units as of the end of the year, an achievement in 20 months since the company launched its first Bespoke refrigerator model in June 2019.

Refrigerators topped the list of Bespoke home appliance sales, accounting for 75% of its customizable home appliances. Bespoke refrigerators accounted for 67% of refrigerators sold in Korea last year. It was well-received in Europe, China and Central Asia and will launch in North America this year. The refrigerator is best known for its customized module where customers can choose among 27 door panels according to their taste and preference.

Bespoke dishwashers, which debuted in June last year, was also hugely popular and grew in sales. Samsung Electronics is applying the Bespoke concept to its home appliance selection which includes electric stoves, induction cooktops, commercial air conditioners and air purifiers. Samsung Electronics included Bespoke home appliance models in its “Samsung Electronics Sales Festa” promotion held for this month in celebration of the 1 million unit milestone.

Homebase to partner with premium appliance manufacturer Miele

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 Homebase continues to strengthen its range of kitchen appliances as it announces a new partnership with Miele.

Miele ovens, hobs, extraction, refrigeration, dishwashers and laundry products will be available for customers to purchase online and in showrooms from 15 December 2020. The Miele range of appliances will be on display in 15 stores around the country, 

Hitachi transfers Thai compressor business to Midea

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Hitachi has concluded an agreement to transfer all outstanding shares in its subsidiary Hitachi Compressor (Thailand) to Midea Electric Trading (Singapore), a subsidiary of China’s Midea Group.

Hitachi Compressor (Thailand) currently supplies its compressors to Midea, one off the world’s largest refrigerator manufacturers. 

Hitachi Compressor (Thailand) sees the deal strengthening its competitiveness by improving its procurement capabilities and expanding its supply chain. In addition, the Midea Group will utilise Hitachi Compressor (Thailand) as an important production base in the ASEAN region for future business expansion

Japanese Maker of $230 Toaster Sees Its Shares Pop Up in Debut

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Japanese Maker of $230 Toaster Sees Its Shares Pop Up in Debut

A Balmuda toaster.

Boutique Japanese appliance maker Balmuda set out to make the perfect slice of toast, using the right combination of temperature, moisture and cooking time. Now, it looks like the company will have to bring as much care and attention to its stock price.

The company behind the $230 toaster which is now being sold outside of Japan and South Korea, saw its shares double on their first day of trading on Wednesday. The stock was set to rise by its limit Thursday, potentially giving Balmuda a market value of 35.2 billion yen ($340 million). It’s a heady debut for founder Gen Terao, a high-school dropout who owns three-quarters of the company.

Since the toaster’s debut in 2015, Balmuda has expanded into a range of appliances that include a rice cooker, room fan and vacuum cleaner. Like its products, the company’s shares are on track to be expensive. They’re currently worth about 40 times last year’s earnings, a valuation more than double that of Panasonic Corp., the mainstay of Japanese appliance makers.null

“Balmuda, like its products, is easy to understand,” said Kazuo Kishi, an analyst at Ace Securities and the only one who has issued a report on the company. Although Kishi hasn’t yet rated the stock or set a price target, he expects Balmuda’s shares to climb higher this week as retail investors flock to the stock.

Balmuda, based in Tokyo’s suburbs, was the first to seek to transform the humble toaster into a high-tech, and high priced, gadget. Then last year Mitsubishi’s took on the toaster challenge and introduced the Bread Oven, a $270 gadget that makes a single slice of toast at a time. Mitsubishi’s toaster seals bread inside a metal box and transfers heat using two plates at temperatures as high as 260 degrees Celsius (500 degrees Fahrenheit).

Both have their merits. The Balmuda can take a stale rubbery croissant and turn it into a flaky delight. The Bread Oven makes exquisite French toast.

Balmuda is among several companies listing on Tokyo Stock Exchange’s Mothers market in the remaining months of 2020. The toaster maker’s shares remained untraded early on Thursday, as the number of bidders outweighed sellers.

The company will use part of the 2.5 billion yen in proceeds from the initial public offering to boost marketing by 35%, including in the U.S., and spend 600 million yen on developing new products over the next two years. While Balmuda designs and markets its appliances, production is outsourced to domestic and overseas manufacturers.