ELUXY - AB Electrolux (publ) (ELUXY) Q1 2024 Earnings Call Transcript
2024-04-26 21:55:25 ET
Start Time: 03:00
End Time: 03:56
AB Electrolux (publ) (ELUXY)
Q1 2024 Earnings Conference Call
April 26, 2024, 03:00 AM ET
Company Participants
Jonas Samuelson - President and CEO
Therese Friberg - CFO, Head of Finance, Legal and IT
Oscar Stjerngren - IR
Conference Call Participants
Johan Eliason - Kepler Cheuvreux
David Macgregor - Longbow Research
Björn Enarson - Danske
Alexander Virgo - Bank of America
Presentation
Jonas Samuelson
Good morning, and a warm welcome from a snowy Stockholm to Electrolux Group's First Quarter 2024 Results Presentation. With me this morning, I have our CFO, Therese Friberg; and Oscar Stjerngren from Investor Relations.
As you will have seen, I announced yesterday that I intend to leave as CEO by the January 1, 2025. This will be after nine years as CEO and over 16 years in the Electrolux Group management team, which has been an extremely rewarding time for me. But I think that after this long time, it's the right time for me to hand over to a successor that will take this company forward for the coming years into the next phase.
We have a clear strategy and we are delivering on a lot of our priorities in a challenging environment. And by announcing this already now, I wanted to give the Board the chance to have ample time to find the right successor. And in the meantime, I will give everything to deliver on our targets and objectives for 2024, together with the group management team and the Board. So with that, before I continue, I'd like to mention that this session is recorded and will be available on our website as an on-demand version.
The first quarter continued, as anticipated, to be impacted by low consumer activity in many markets in combination with continued high price pressure in line with the levels that were established in the fourth quarter. This had a significant negative effect year-on-year on price and resulted in slightly lower volumes overall....
AB Electrolux (publ) (ELUXY) Q1 2024 Earnings Call Transcript