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Presentations Electrolux Capital Markets Day 2014 - Jack Truong

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At Electrolux capital markets day in Charlotte, North Carolina on November 20 2014, CEO Keith McLoughlin and other senior officers of the company presented a status update on the Group’s strategy as well as an overview of the current business environment and expectations for next year.

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Presentations Electrolux Capital Markets Day 2014 - Jack Truong

  1. 1. The Electrolux Group Jack Truong Head of Major Appliances, North America Capital Markets Day, Charlotte, NC November 20, 2014
  2. 2. Electrolux Major Appliances Well Established in North America People 12k Manufacturing 8 Footprint 11m Annual Shipments 14m In 3 Countries Facilities Square Feet Units . 2
  3. 3. Electrolux Major Appliances North American Results for 2013 Net Sales 4 9b EBIT 327m Capital Return on 1 2 3 3 4.9b 6 1 41% USD USD 6.7% EBIT Margin 6.1 Turnover Net Assets g 1. Represents 29% Share of Sales for the Group 2. Represents 51% Share of EBIT for the Group 3. 12 month rolling average 3
  4. 4. Our Path to Sustainable, Profitable Growth NA Market and New Products and Consumers and Strategic Fit and Business Innovation Customers Summary 4
  5. 5. North American Core Appliance Market 2013 Shipments Laundry Refrigeration 7.6b$ Refrigeration 10.5m p Laundry 8.8b$ 16.4m 44 8M 23% 37% 35% 30% 25 2b$ Cooking 44.8M 19% 5% 25.2b$ 2% 22% Cooking Dishwashers 5.5b$ 2.7b$ Freezers 0.6b$ 8.7m Dishwashers 7.1m Freezers 2.2m 16% 11% Total Units Total Value USD (Mfg. $) Source: AHAM US, AHAM Canada, EMA BI Analysis Cooking excludes microwaves; Refrigeration is 6.5 cubic feet and over 5
  6. 6. US Core Appliance Market Manufacturers Dollars 3.6 4.1 25 20 Billions $ 3.9 2.6 15 B 15.0 17.0 18.7 19.7 10 5 0 2008 2012 2013 2014 Est. Retail Builder Source: EMA BI Analysis, AHAM Manufacturers Dollar Valuation, TraQline Continued Market Growth 6
  7. 7. TraQline US Market Share by Retailer Value Share 2012 2013 Sept. 2014 YTD Lowe's Sears 19.0% 27 5% Sears Lowe's 18.7% Sears 30.5% 27 5% 27.5% Lowe's 19.2% Home Depot 13.4% Other Home Depot 11.4% Best Buy 27.5% Home Depot 13.2% B t B Other Best Buy Dealers 10% 19.1% 10.9% 8.1% Dealers 20.3% Other 11.0% Best Buy Dealers 10% 19.1% 11.0% Best Buy includes Pacific Sales Data for 2012-2014 7
  8. 8. US Housing Market 800 600 Single Family Multi-Family s of starts 400 Thousands 200 0 2008 2009 2010 2011 2012 2013 2014(e) 2015(e) Single Family Growth -21% 3% -7% 25% 21% 1% 11% Multi Family Growth -55% 15% 36% 29% 28% 7% 7% Source: McGraw-Hill 2014 8
  9. 9. Annual US Total Core Shipments 50 nts (m) +2.0% -0.7% 45 nual Shipmen -5.6% -9.9% +4% to +5% +9 6% 40 35 Ann 9 9% -8.6% +4.6% -4.2% -2.1% 9.6% 30 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Est. Source: AHAM, EMA BI Analysis. Expectation of 2014 Annual US Core Shipments is +4% to +5% 9
  10. 10. North America: Profitable Sales Growth 5 +7.2% $ Net Sales EBIT 4.6 4.9 3.8 +6.8% 4 +1.2% Billions 327 +436% +52% -8.5% 300 Millions $ 3 216 2 236 200 1 0 100 0 2012 2013 SEPT 2014 YTD 2012 2013 SEPT 2014 YTD EBIT % 4.7% 6.7% 6.3% vs 6.9% PY 10
  11. 11. North America: Profitable Sales Growth September YTD – Core White Goods $ p 5 Net Sales EBIT 44.3 12.3 300 Millions 0 5 0.5 0.3 4 Billions $ +8.4% +4.6% +3 5% +45.6% +4.7% 147 213 223 21.8 200 3.0 3.3 3.4 0.5 3 2 3.5% 100 0 1 0 2012 YTD 2013 YTD 2014 YTD 2012 YTD 2013 YTD 2014 YTD EBIT % 4.9%* 6.5% 6.5% *September 2011 YTD EBIT = -5m$ (-0.2%) 11
  12. 12. Our Path to Sustainable, Profitable Growth NA Market e New oducts Products Consumers Strategic Fit and and Business Innovation and Customers and Summary 12
  13. 13. Delivering Consumer-Driven Innovation Consumer Research State of the Art Design Technology Electrolux Innovation Center Consumer Testing Develop Innovative, New Products Based on Consumers’ Future Needs 13
  14. 14. Memphis, TN New Electrolux Brand Wall Ovens • Oven cavity leverages global modularization efforts • Perfect-Taste™ Temp Probe and Perfect Turkey® features utilize technology from Electrolux Professional Products group • Keep your kitchen smelling great with Fresh Clean™ technology +4% Gross Margin Dollar Improvement 14
  15. 15. Anderson, SC New Frigidaire Gallery SpaceWise® Refrigerators • First significant innovation in the Top Freezer Refrigerator Category in many years • Uses modularization and innovation developed in Electrolux operations in Thailand •• Satisfies the #1 pain point for consumers: Not enough storage flexibility • Preferred by consumers 4 to 1 over leading competitor +20% Gross Margin Dollar Improvement 15
  16. 16. Solaro, Italy New Electrolux Brand Dishwashers • North American wash system, European modular design and manufacturing • Achieve a professional level clean with 4x more water coverage Target Wash Zones S t llit S ™ A +15% Gross Margin Dollar Improvement SatelliteSprayArm 16
  17. 17. Porcia, Italy New Electrolux Brand Compact Laundry • Existing European product for new market opportunities in North America • Deep cleaning results with Perfect Steam™ • Fits more spaces with vent-less design • Global product fulfills US growth category +310% Gross Margin Dollar Improvement 17
  18. 18. The Electrolux Group John Weinstock SVP Marketing, North America 18
  19. 19. Our Path to Sustainable, Profitable Growth NA Market e New oducts Products Consumers Strategic Fit and and Business Innovation and Customers and Summary 19
  20. 20. Our Brands Attract a Broad Group of Consumers Home • Latest technology • Showcases latest interior design trends Appliances Home • Well-run • Organized Appliances • Enable great entertaining • Have high-tech appeal • Save time • Get it right the first time 20
  21. 21. New Frigidaire Gallery 360° Marketing Campaign 21
  22. 22. New Frigidaire Gallery 360° Marketing Campaign National Television Advertising Featuring: • French Door Refrigerator • Double Wall Oven • OrbitClean® Dishwasher #1 Appliance Ad Q3 2014 22
  23. 23. New Frigidaire Gallery 360° Marketing Campaign Digital Presence NEW WEBSITE NEW MOBILE TOOLS 23
  24. 24. New Frigidaire Gallery 360° Marketing Campaign Retailer Integration PRINT ADVERTISING DIGITAL INTEGRATION FRIGIDAIRE GALLERY® Sell Through +27% YTD 24
  25. 25. The Electrolux Group Mark Chambers SVP Sales, North America 25
  26. 26. Our Path to Sustainable, Profitable Growth NA Market e New oducts Products Consumers Strategic Fit and and Business Innovation and Customers and Summary 26
  27. 27. TraQline US Market Share by Retailer Value Share 2012 2013 Sept. 2014 YTD Lowe's Sears 19.0% 27 5% Sears Lowe's 18.7% Sears 30.5% 27 5% 27.5% Lowe's 19.2% Home Depot 13.4% Other Home Depot 11.4% Best Buy 27.5% Home Depot 13.2% B t B Other Best Buy Dealers 10% 19.1% 10.9% 8.1% Dealers 20.3% Other 11.0% Best Buy Dealers 10% 19.1% 11.0% Best Buy includes Pacific Sales Data for 2012-2014 27
  28. 28. Long Standing Strategic Partnership • Started selling Electrolux products 30+ years ago • Electrolux has 1/3 of showroom plan-o-gram • Both Electrolux and Frigidaire Brands are represented on the showroom floor • +6% CAGR (2011-2014) Growing Sales, Gaining Share, Increasing Mix, Expanding Floor Presence Source: EMA BI Analysis September Year to Date Results 28
  29. 29. Strategic Growth Partnership • Growth: +56% sales and +2% share • Higher Mix: Frigidaire Gallery +5% and Electrolux +1% • Showroom Expansion: 350 Jumbo and 1,000 Bigfoot Floors • + 55% sales growth HomeDepot.com Growing Sales, Gaining Share, Increasing Mix, Expanding Floor Presence Source: EMA BI Analysis September Year to Date Results 29
  30. 30. Strategic Growth Partnership Year Over Year Sales Growth Upright Freezers +193% Counter Depth SxS +39% French Door BM +196% Front Load Laundry +55% Wall Ovens +58% Sales Growth in Platforms That Drive Better Mix Source: EMA BI Analysis September Year to Date Results 30
  31. 31. New Home Construction Markets Well Positioned for Growth • Product available to the market in 48 to 72 hours • Systems and infrastructure to provide “one stop shop” for builder inquiry • People dedicated within the market to sell, train, and maintain builder accounts • Job site delivery and installation capabilities to targeted markets 31
  32. 32. New Home Construction Markets Complementary Packages for All Housing Segments Value St t Starter H Homes M Move U Up S Semi-iC t Custom C t Custom Kitchen Packages Across New Construction Segments 32
  33. 33. The Electrolux Group Jack Truong Head of Major Appliances, North America 33
  34. 34. Our Path to Sustainable, Profitable Growth NA Business New Products Strategic Fit and Market e oducts and Innovation Consumers and Customers and Summary 34
  35. 35. Electrolux + GE Appliances: Strategic Fit Creating a Stronger North American Business Brand Portfolio • Trusted, iconic brands that resonate with consumers and customers Operational Opportunities • Optimizes economies of scale in manufacturing footprint and sourcing Product Offering • Enhances R&D capabilities for continuous innovation • Expands product portfolio in all major appliance Consumer and Customer Focus • Provides best-in-class distribution, delivery and service network categories, from opening price points to premium • Increases digital capabilities and retail merchandising 2013 North American Sales (Est) 12 10 8 6 4 Billions $ 2 0 Combined… Whirlpool GE Electrolux Others 35
  36. 36. Electrolux + GE Appliances: Strategic Fit Expanding Our Consumer Reach Pr VALUE E rice Value PRICE 36
  37. 37. Electrolux + GE Appliances: Strategic Fit g Integration g Planning Status Day One Planning • Integration Management Office created • 30 dedicated integration leaders; 200+ team members engaged in planning process 14 k t l i f th i t ti t ti D O ” • work streams planning for smooth integration starting “Day One” • USD 300m expected annual synergies Synergy Focus p y g • Largest part of synergies expected in sourcing, operations and logistics • One time implementation costs of USD 300m Stronger Together • “Best of both” acquisition approach • Cultural integration is foundational • Increasing consumer benefits through economies of scale 37 g g Integration Planning On Track; Expected to Close During 2015 37
  38. 38. Summary: Electrolux North America Sustainable, Profitable Sales Growth • 2014 US market demand is growing 4-5%, expected to continue growing • Adoption of new energy requirements for refrigeration and freezers will continue to have negative EBIT impact into the first half of 2015 • Well-positioned to participate in growing market segments – Proven consumer-driven innovation pipeline utilizing local and global capabilities to improve mix –– Full-line supplier with strong brand portfolio – Distributed in all key retailers in North America and able to serve new home construction markets – Electrolux + GE Appliances = Stronger Together BUILD STRENGTH ON STRENGTH 38
  39. 39. Factors Affecting Forward-looking Statements This presentation contains “forward-looking” statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Such statements include, among others, the financial goals and targets of Electrolux for future periods and future business and financial plans. These statements are based on current expectations and are subject to risks and uncertainties that could cause actual results to differ materially due to a variety of factors. These factors include, but may not be limited to the following; consumer demand and market conditions in the geographical areas and industries in which Electrolux operates, effects of currency fluctuations, competitive pressures to reduce prices, significant loss of business from major retailers, the success in developing new products and marketing initiatives, developments in product liability litigation, progress in achieving operational and capital efficiency goals, the success in identifying growth opportunities and acquisition candidates and the integration of these opportunities with existing businesses, progress in achieving structural and supply-chain reorganization goals. For further information concerning these and other risks, and how they are managed, see the AB Electrolux 2013 Annual Report generally, and specifically beginning at page 76 thereof. 39

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