Electrolux: margin target confirmed over medium term
(CercleFinance.com) - Electrolux said on Monday that it is maintaining its MT target for an operating margin of over 6%, which it expects to achieve notably thanks to a recovery in its performance in North America.
At an investor day held today, the Swedish home appliances manufacturer's CEO said that the turnaround of the North American subsidiary remained a "key" component of its strategic plan.
To this end, the group plans to launch a cost-cutting program that should generate savings of four to five billion Swedish kronor (E360-450m) this year, rising to seven billion SEK by 2024 (E630m).
Copyright (c) 2023 CercleFinance.com. All rights reserved.
At an investor day held today, the Swedish home appliances manufacturer's CEO said that the turnaround of the North American subsidiary remained a "key" component of its strategic plan.
To this end, the group plans to launch a cost-cutting program that should generate savings of four to five billion Swedish kronor (E360-450m) this year, rising to seven billion SEK by 2024 (E630m).
Copyright (c) 2023 CercleFinance.com. All rights reserved.