After an evaluation of various alternatives, Electrolux Group has decided to retain its business in Egypt since the value is considered to be higher if it remains within the Group.
The business in Egypt includes sales and production of major appliances as well as water heaters and is profitable with well-established and strong brands.
“We have a successful business in Egypt and after evaluating different options, we concluded that it will create a higher value by continuing to be part of the Group”, says Yannick Fierling, President & CEO of Electrolux Group. “Our objectives going forward are to take advantage of the growing market in Egypt and increase our market share as well as to expand export from Egypt.”
The potential divestment of the Group’s business in Egypt was communicated as part of the announcement on July 20, 2023 to initiate preparations for divestment of certain assets. After today’s announcement, this divestment program is closed
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Electrolux CEO Outlook
Yannick Fierling, Electrolux’s newly installed president and CEO, offered a mixed outlook for the industry but expressed confidence in his company’s execution, brand recognition and product line following a return to U.S. profitability last quarter. Here are excerpts from his commentary.
First Impressions
“After having spent three months getting to know Electrolux Group and its stakeholders, I assumed the position as CEO on Jan. 1, 2025.
“Key takeaways from my initial time with Electrolux Group are the strength of our product offering and the clear identity of our Electrolux, AEG and Frigidaire brands. We really know our consumer, evidenced by the high online consumer star ratings for our products. It is essential to truly nurture the local strengths and what differentiates us in the market, while further leveraging our global scale to drive innovation and mix — all in a cost-efficient manner.
“In addition to offering great products that help consumers make more sustainable choices at home, we need to move even further to experiences by expanding our customized solutions throughout the consumer journey.”
Electrolux Group receives EIB loan for development of energy efficient appliances
Electrolux Group has signed a €200 million loan with the European Investment Bank (EIB) to support research, development and innovation (RDI) on more energy-efficient household appliances.
The financing will enable Electrolux Group to develop advanced appliances for food preparation, food preservation, fabric care, and dish care, while also enhancing digital technologies across all product platforms. This support will back the Group’s research aimed at improving performance, user-friendliness, and user experience, as well as reducing energy consumption and resource use for a variety of household goods.
Now you can steam and air fry your food at the same time!
Thanks to advanced technology, Electrolux have launched an air fryer that also steams – helping consumers to cook more sustainably and healthily in the home, whilst also saving them time. The Electrolux 800/AEG 8000/Ultimate Taste 700 Steam Air Fryer has four features:
▪ Air frying
▪ Steaming
▪ Air frying and steaming (combi)- the best of both worlds!
▪ Dehydrating
It is currently available in European markets, as well as Taiwan, Thailand, Korea and China. It will be available in Malaysia, Singapore, and Middle East and Northern and Central Africa later this year. The product will be rolled out in more markets next year.
Electrolux financial challenges
Electrolux is facing significant financial challenges. The company’s total borrowing of SEK 40 billion is too high relative to its earnings, leading to concerns about small margins and high interest costs¹. If the market does not improve quickly, there is a substantial risk that Electrolux will need to carry out a new share issue. This could result in significant dilution for existing shareholders, as the company’s market capitalization is nearly equal to its net debt.
Electrolux AEG brands have become the first in the industry to earn the new Woolmark Wool Care Green
The latest range of tumble dryers from our Electrolux and AEG brands have become the first in the industry to earn the new Woolmark Wool Care Green certification from global wool care experts The Woolmark Company. The new certification ensures the highest care for wool together with lower energy consumption.
Woolmark already certified Electrolux and AEG products for wool washing and wool drying cycles for hand washable and machine washable wool garments, and now certain tumble dryer models in our new ranges in Europe and upcoming ranges in Asia Pacific (spring 2025) have taken the top Wool Care Green honors.
Electrolux sustainable packaging receives the Red Dot Best of the Best
Electrolux sustainable packaging receives the Red Dot Best of the Best The design of the new packaging of Electrolux Group has won for design quality and creativity. This award is given to revolutionary design solutions and is the highest recognition of the Red Dot Award: Brands and Communication Design. Only the best products in individual categories receive this award.
result is a new design concept that uses illustrations on boxes to emphasize the Electrolux brand promise of Contributing to a better way of life and the shift from a product-centered to a human-centered approach. The illustrations show people, without gender or ethnic boundaries, in different everyday situations.
The design also helps make packaging more sustainable. With the new system, in fact, the boxes are easily adaptable to hundreds of appliances of various sizes, and so the number of different packaging has been reduced. Water-based ink is also used, in smaller quantities. also use unbleached FSC certified raw cardboard, without protective varnishes or laminations, which could contaminate the recycling.
Electrolux fridge-freezers with a green “heart”
The Electrolux 700 GreenZone+ fridge-freezers, available in 177.2 cm and 188.4 cm sizes, are notable for their sustainability features. These models include a sealed drawer that maintains optimal humidity levels, effectively managing excess condensation and preserving up to 95% of vitamins in stored food. According to the company, the latest fridge-freezers are distinguished by their eco-friendly design, featuring internal linings made from 70% recycled plastic sourced from end-of-life refrigerators.
Happy birthday to Electrolux
Happy birthday to Electrolux Today we celebrate turning 105.
founded in Sweden in 1919 by entrepreneur and salesman Axel Wenner-Gren who had worked stubbornly since 1908 to realize a vision: making vacuum cleaners lighter and easier to use. “Every home, an Electrolux home” was his motto. With Wenner-Gren’s idea, and his unusual knack for sales and marketing, the journey began toward becoming a leading global appliance company today.
Electrolux have been innovating and improving the lives of people in their homes around the world for 105 years.
Read more about their story here https://www.electroluxgroup.com/en/category/history/
New Electrolux Group study shows short wash and low temperature key to reducing environmental footprint of clothes
Extending clothing life presents the single largest opportunity to reduce the carbon, water and waste footprints of clothes. Published recently by Electrolux The Truth About Laundry Report are the findings of our seven-year, science-led research program focused on extended clothing life which shows that choosing lower temperatures and shorter cycles can length the lifespan of clothes by more than 50%.
For example, a cotton T-shirt washed at 30°C for 59 minutes will last over 50% longer than if it’s washed on a regular 40°C cycle which can last up to 120 minutes, if not longer.
To read all about this and to download The Truth About Laundry, Love Clothes For Longer Edition, read here:
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