Financials Electrolux LIQUIDNET SYSTEMS

Equities

OXELUX

SE0000103814

Appliances, Tools & Housewares

Delayed LIQUIDNET SYSTEMS Other stock markets 07:35:04 2018-09-17 EDT			5-day change	1st Jan Change
193.8 ^SEK	-10.71%		-.--%	-.--%

04-30	Nordic Shares Moved Upward Tuesday; Hoegh Autoliners Topped Leaders	DJ
04-29	ELECTROLUX : Disappointing figures in North America

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	66,106	54,999	62,444	38,229	29,296	24,938	-	-
Enterprise Value (EV) ¹	73,789	56,555	71,035	62,077	55,522	52,159	47,916	43,929
P/E ratio	26.5 x	8.36 x	13.5 x	-29.3 x	-5.58 x	227 x	7.95 x	6.42 x
Yield	-	4.18%	4.19%	-	-	-	6.16%	7.7%
Capitalization / Revenue	0.56 x	0.47 x	0.5 x	0.28 x	0.22 x	0.19 x	0.18 x	0.17 x
EV / Revenue	0.62 x	0.49 x	0.57 x	0.46 x	0.41 x	0.39 x	0.35 x	0.3 x
EV / EBITDA	7.66 x	5.46 x	5.91 x	9.98 x	8.3 x	6.37 x	3.94 x	3.34 x
EV / FCF	60.5 x	8.3 x	56.9 x	-7 x	-156 x	37.4 x	13.8 x	10.1 x
FCF Yield	1.65%	12.1%	1.76%	-14.3%	-0.64%	2.67%	7.26%	9.95%
Price to Book	2.93 x	2.94 x	3.34 x	2.31 x	2.59 x	2.24 x	1.71 x	1.44 x
Nbr of stocks (in thousands)	287,397	287,397	283,420	270,028	270,028	270,028	-	-
Reference price ²	229.9	191.4	219.5	140.8	108.1	91.80	91.80	91.80
Announcement Date	20-01-31	21-02-02	22-01-28	23-02-02	24-02-02	-	-	-

¹SEK in Million²SEK

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	118,981	115,960	125,631	134,880	134,451	133,178	138,725	144,788
EBITDA ¹	9,637	10,365	12,017	6,221	6,691	8,183	12,171	13,138
EBIT ¹	4,533	5,778	7,528	831	414	2,120	5,760	6,606
Operating Margin	3.81%	4.98%	5.99%	0.62%	0.31%	1.59%	4.15%	4.56%
Earnings before Tax (EBT) ¹	2,456	5,096	6,255	-1,672	-5,111	192.9	4,145	5,070
Net income ¹	2,509	6,584	4,677	-1,320	-5,227	166.6	2,972	3,922
Net margin	2.11%	5.68%	3.72%	-0.98%	-3.89%	0.13%	2.14%	2.71%
EPS ²	8.690	22.88	16.21	-4.810	-19.36	0.4048	11.54	14.29
Free Cash Flow ¹	1,219	6,816	1,249	-8,869	-355	1,393	3,477	4,369
FCF margin	1.02%	5.88%	0.99%	-6.58%	-0.26%	1.05%	2.51%	3.02%
FCF Conversion (EBITDA)	12.65%	65.76%	10.39%	-	-	17.02%	28.57%	33.26%
FCF Conversion (Net income)	48.59%	103.52%	26.71%	-	-	836.12%	117%	111.41%
Dividend per Share ²	-	8.000	9.200	-	-	-	5.652	7.065
Announcement Date	20-01-31	21-02-02	22-01-28	23-02-02	24-02-02	-	-	-

¹SEK in Million²SEK

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2
Net sales ¹	35,372	30,118	33,749	35,244	35,769	32,734	32,653	33,427	35,636	31,077	32,293	33,955	36,828	33,062	33,077
EBITDA ¹	2,726	2,151	1,888	1,374	809	1,806	2,099	1,937	876	865	1,673	2,584	3,199	2,664	2,191
EBIT ¹	1,609	919	560	-35	-612	305	519	341	-724	-720	172	1,074	1,561	1,226	703
Operating Margin	4.55%	3.05%	1.66%	-0.1%	-1.71%	0.93%	1.59%	1.02%	-2.03%	-2.32%	0.53%	3.16%	4.24%	3.71%	2.13%
Earnings before Tax (EBT) ¹	700	1,323	265	-786	-2,474	-770	-630	75	-3,785	-1,279	-272.7	674.5	1,067	271	274
Net income ¹	596	950	257	-605	-1,922	-588	-648	123	-4,113	-1,230	-239	547.8	862.2	208	211
Net margin	1.68%	3.15%	0.76%	-1.72%	-5.37%	-1.8%	-1.98%	0.37%	-11.54%	-3.96%	-0.74%	1.61%	2.34%	0.63%	0.64%
EPS ²	2.070	3.370	0.9200	-2.230	-7.120	-2.180	-2.400	0.4500	-15.23	-4.550	-0.5846	1.897	2.752	2.260	0.7800
Dividend per Share ²	9.200	-	-	-	-	-	-	-	-	-	-	-	0.7000	1.000	-
Announcement Date	22-01-28	22-04-29	22-07-21	22-10-28	23-02-02	23-04-28	23-07-20	23-10-27	24-02-02	24-04-26	-	-	-	-	-

¹SEK in Million²SEK

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	7,683	1,556	8,591	23,848	26,226	27,221	22,978	18,992
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	0.7972 x	0.1501 x	0.7149 x	3.833 x	3.92 x	3.326 x	1.888 x	1.446 x
Free Cash Flow ¹	1,219	6,816	1,249	-8,869	-355	1,393	3,477	4,369
ROE (net income / shareholders' equity)	11.4%	34.1%	25.1%	-7%	-33.7%	0.81%	21.7%	24.4%
ROA (Net income/ Total Assets)	2.46%	3.86%	4.51%	-0.6%	-4.2%	-0.04%	2.1%	2.87%
Assets ¹	102,058	170,388	103,703	220,000	124,452	-469,291	141,259	136,856
Book Value Per Share ²	78.60	65.10	65.70	60.90	41.80	41.10	53.60	63.60
Cash Flow per Share ²	29.20	41.50	24.50	-8.180	14.70	18.40	33.70	41.10
Capex ¹	7,215	5,108	5,810	6,595	4,069	5,403	5,580	5,670
Capex / Sales	6.06%	4.4%	4.62%	4.89%	3.03%	4.06%	4.02%	3.92%
Announcement Date	20-01-31	21-02-02	22-01-28	23-02-02	24-02-02	-	-	-

¹SEK in Million²SEK

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Electrolux

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

91.8 SEK

Average target price

114.8 SEK

Spread / Average Target

+25.03%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

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