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MarketScreener Homepage  >  Equities  >  NASDAQ OMX STOCKHOLM  >  Electrolux Professional AB (publ)    EPRO B   SE0013747870

ELECTROLUX PROFESSIONAL AB (PUBL)

(EPRO B)
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Electrolux Professional : Update on previously announced cost saving measures

09/29/2020 | 07:01am EST

As announced in July 2020, Electrolux Professional has been reviewing structural cost saving measures to generate savings of SEK 100-150m that will imply one-off costs. The measures, together with already implemented activities, have now been defined and are expected to generate yearly cost savings of approximately SEK 130m and one-off restructuring charges in the third quarter of 2020 of SEK 75m.

The measures include the reduction of approximately 210 employees globally, both production and non-production positions. Relevant union consultations will now be initiated.

The savings are expected to have a yearly run rate of SEK 110m from the second quarter of 2021 and a full yearly run rate of SEK 130m from the second quarter of 2022.

For further information, please contact Jacob Broberg, Senior Vice President Investor Relations and Communications +46 70 190 00 33

Electrolux Professional är en av de ledande globala leverantörerna av storkök, dryck och tvätt för professionella användare. Våra innovativa produkter och världsomspännande servicenätverk gör det dagliga arbetet för våra kunder enklare, mer lönsamt och verkligt hållbart varje dag. Våra lösningar och produkter tillverkas i 12 fabriker i sju länder och säljs i mer än 110 länder. År 2019 hade Electrolx Professional en global försäljning på 9,3 miljarder kronor och cirka 3.600 anställda. Mer information finns på www.electroluxprofessional.com/corporate (https://www.electroluxprofessional.com/corporate/sv/)

https://news.cision.com/electrolux-professional/r/update-on-previously-announced-cost-saving-measures,c3204700

https://mb.cision.com/Main/18876/3204700/1312202.pdf

(c) 2020 Cision. All rights reserved., source Press Releases - English

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Financials
Sales 2020 7 245 M 858 M 858 M
Net income 2020 313 M 37,1 M 37,1 M
Net Debt 2020 621 M 73,6 M 73,6 M
P/E ratio 2020 39,9x
Yield 2020 0,78%
Capitalization 12 148 M 1 439 M 1 439 M
EV / Sales 2020 1,76x
EV / Sales 2021 1,56x
Nbr of Employees 3 441
Free-Float 79,5%
Chart ELECTROLUX PROFESSIONAL AB (PUBL)
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Technical analysis trends ELECTROLUX PROFESSIONAL AB (PUBL)
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 6
Average target price 40,16 SEK
Last Close Price 43,50 SEK
Spread / Highest target 14,9%
Spread / Average Target -7,67%
Spread / Lowest Target -33,4%
EPS Revisions
Managers
NameTitle
Alberto Zanata President & Chief Executive Officer
Kai Bertil Wärn Chairman
Carlo M. Caroni COO-Operations, Research & Development
Fabio Zarpellon Chief Financial Officer
Lorna C. Donatone Independent Non-Executive Director
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