Business

Electrolux Group Announces Historical Data Restatement Following Organizational Restructuring

STOCKHOLM, March 19, 2024 – Electrolux Group, a global leader in household appliances, has undergone a significant organizational change which became effective January 1, 2024. The company previously revealed that it would be streamlining its structure into three principal business areas. Today, it facilitates an understanding of this new configuration by publicly issuing historical financial figures reclassified to align with the evolved business regions.

Transformation for a More Efficient and Focused Business Model

Electrolux made headlines on October 27, 2023, when it declared a merger of its two business divisions—Europe, and Asia-Pacific, Middle East, and Africa—while North America and Latin America continue as separate entities. The move represents a bid to capitalize on Electrolux's vast global presence while simplifying the company’s hierarchy to enhance concentration and decrease operational expenditure.

From the onset of 2024’s second financial quarter, Electrolux Group's reporting formats will be in accordance with this newly established business regional structure. This transition showcases the company's commitment to streamlining operations and positioning itself for more agile management and increased economic efficacy.

Appendix Furnishes Detailed Reclassified Financial Statistics

An appendix accompanying the press release contains a comprehensive set of recalculated financial figures. These figures cover each business area by quarter, and cumulatively for the full years of 2022 and 2023. The provision of these restated figures allows stakeholders to make direct comparisons with future financial performances under the new structure and appreciate the financial journey that the company has undertaken in the previous periods.

Investors and analysts can peruse these restated figures through two accessible formats. Electrolux has provided both a PDF document and an Excel file, ensuring that the information is user-friendly and can be integrated into various analytical methods. These documents can be attained through the following links: Selected restated figures by business area, quarterly and full year 2022 and 2023 (pdf), and Selected restated figures by business area, quarterly and full year 2022 and 2023 (excel).

Further, the restated figures can be found on the Electrolux Group website for any individuals seeking to delve deeper into the financials. The compilation of restated data is not audited but it serves as a crucial tool for investors and advisors to analyze the performance trends over the adjusted business sectors (Electrolux Group Restated Figures 2022 and 2023).

Contact Information for Further Inquiries

Electrolux Group has also provided contact details for those needing more comprehensive information. Maria Åkerhielm from the Investor Relations team can be reached at +46 70 796 3856 for any inquiries related to investment. Meanwhile, the Electrolux Group Press Hotline is available at +46 8 657 65 07 for media-related questions.

Cision, the premier provider of PR software and services, disseminated this content and stands as a source of additional information on this matter (http://news.cision.com).

Accessible Downloads to Supplement Financial Restatements

To ensure stakeholders are furnished with all necessary tools to analyze the implications of the restructuring, Electrolux Group has made available downloadable files. These files encapsulate the precise details of the restated figures. Interested parties can access these files for an in-depth review:

• “240319 PRM Restated figures new structure ENG” found at the following link - Download PDF
• “Restated figures Electrolux new BA 2022-2023” available in Excel format - Download Excel

Conclusion

In sum, the Electrolux Group’s reshuffling to a more consolidated structure reflects a strategic move to enhance operational efficiency and sharpen business focus across its global markets. By releasing reclassified historical financial data, the company demonstrates transparency and facilitates stakeholders in assessing Electrolux’s past performance through the lens of the new operational framework. As the company embarks on a new chapter, these restated figures will serve as the financial groundwork by which future successes and growth can be measured.

The decision by Electrolux to pursue this major reorganization comes at a time when the market is particularly receptive to leaner and more agile business structures. Their proactive approach in providing historical data restated to fit the new model is a testament to their dedication to clarity and accountability in corporate governance. It paints a picture of a forward-thinking organization that is not afraid to undertake transformative changes for the sake of sustainable growth and market competitiveness.

By allowing access to a broader data spectrum through multiple formats, Electrolux not only complies with transparency standards but also ensures user convenience and the applicability of its financial disclosures across various platforms of analysis. Such measures are indicative of a corporate culture that values stakeholder engagement and the democratization of data.

While it remains to be seen how these structural changes will influence the company's performance in the long run, this level of extensive documentation provided by Electrolux lays a robust foundation for future reporting and benchmarking. With the restated financials acting as a new baseline, there is an air of anticipation around the potential outcomes this streamlining may yield, not just for Electrolux but also for its global customer base, who may stand to benefit from increased operational efficiencies and product innovations.

The Electrolux Group's efforts to maintain direct channels of communication with stakeholders, especially through updated press contacts, underlines their recognition of the importance of dialogue in corporate success. Moreover, Electrolux's partnership with Cision in disseminating relevant press releases further leverages their reach, ensuring the necessary information permeates efficiently across different media outlets.

To wrap up, Electrolux’s corporate narrative is now one that conveys not just a strategic shift but a commitment to ensure that all related parties remain well-informed and poised to leverage the company’s new direction. This level of commitment to excellence and transparency is apt to foster trust and confidence amongst investors, analysts, and customers alike in the robustness and resilience of the Electrolux brand moving forward.

The implications of such an organizational transformation are vast, ranging from potential cost savings and streamlined decision-making to possibly altered market strategies and product roadmaps. Understanding these changes in depth will be crucial for all stakeholders, and the availability of these documented financial restatements is a commendable step by Electrolux in facilitating this comprehension.

In conclusion, the Electrolux Group, with its new regional business areas and newly restated financial figures, is poised to take on the challenges of an ever-evolving global marketplace. Stakeholders and observers alike will be watching with great interest as the company navigates its way forward with a rearranged compass, aiming towards a prosperous and efficient future.

Electrolux's disclosure of restated figures and the ensuing ease of access to them exemplify the company’s unwavering dedication to clarity, stakeholder rapport, and intrinsic organizational advancement. Such integrity in business practices is sure to resonate positively within the investment community and among the wider public, solidifying Electrolux's stance as a leading entity committed to growth, innovation, and principled corporate conduct.

As the era of information continues to drive business and investment decisions, Electrolux's approach could serve as a benchmark for industry peers. The transparent unveiling of restated figures is a clear nod towards the company's unrelenting push for business optimization and for maintaining a trust-based relationship with their stakeholders, ensuring their actions remain squarely in the spotlight and accountable to those they serve.

With this robust set of restated historical data in hand, all eyes are on Electrolux as it strides confidently towards realizing its redefined corporate structure’s full potential and securing its place at the pinnacle of the global home appliance industry.

Overall, Electrolux has taken notable strides in aligning its organizational structure with the intricate demands of the global marketplace. As the dust settles on this structural realignment, the provision of the restated financial figures will be an anchor point from which the company's future trajectory can be plotted with precision and understanding.

As Electrolux Group moves forward with a leaner corporate configuration and clarified strategic vision, the industry will observe with interest the outcomes this newly designed corporate landscape will generate. The company's transparent handling of such a strategic overhaul is indicative of its broader commitment to operational excellence and market responsiveness.

Under the new business area framework, the Electrolux Group is set to harness a greater synergy among its regions, streamline its processes, and create a robust platform for continuous innovation and customer satisfaction. The riches of such an endeavor, facilitated by unprecedented levels of transparency and shareholder considerations, will undoubtedly contribute to the company's long-term aspirations for global leadership.

With a firm reorganization under its belt and a clear vision for the years ahead, the Electrolux Group stands on the threshold of a promising new phase in its illustrious history. The restated financial figures represent a bridge between past accomplishments and future aspirations, offering stakeholders a comprehensive view of the company's financial health as it embraces a strategic realignment designed to foster growth, agility, and prosperity in an increasingly competitive world.