Connect with us

Technology

Electrolux Group Interim report Q2 2024

Published

on

STOCKHOLM, July 19, 2024 /PRNewswire/ — 

Highlights of the second quarter of 2024

Net sales amounted to SEK 33,819m (32,653). Organic sales increased by 6.8% driven by higher volumes in all business areas while price was negative. Despite challenging market conditions, mix improved supported by the new modularized platforms and attractive product offering.Operating income amounted to SEK 419m (-124), corresponding to a margin of 1.2% (-0.4). Excluding non-recurring items, earnings were SEK 519m in the second quarter 2023. Higher volumes and improved mix partly offset negative price. Cost efficiency contributed SEK 0.3bn to earnings.Group operating income improved by more than SEK 1bn compared to the first quarter 2024, with a significant reduction of the loss in North America.Latin America developed strongly with a high organic sales growth and a rolling 12-months operating margin of 7%.Continued weak market in Europe driven by built-in kitchen categories.Income for the period amounted to SEK -80m (-648) and earnings per share were SEK -0.30 (-2.40).Operating cash flow after investments was SEK 1,226m (3,137), with the second quarter 2024 reflecting a normal seasonal pattern.

President and CEO Jonas Samuelson’s comment

While consumer demand in our main markets remained mixed in the second quarter, our products were well received by consumers. We outperformed the market in Europe and North America and continued to drive a positive mix with quarterly sales growth of 7%, year-over-year. Operating profit improved sequentially by more than SEK 1bn in the second quarter and, with an EBIT of SEK 419m, we returned to profit for the Group. Operating cash flow was positive at SEK 1.2bn and liquidity remains strong.

Latin America continued to deliver strong results, with the rolling 12-month EBIT margin reaching 7% in the second quarter. Earnings in Europe, Asia-Pacific, Middle East and Africa declined with subdued consumer spending in Europe where market demand was predominantly replacement driven. The operating loss in North America was significantly reduced compared to the first quarter, and we are making good progress in our efforts to return to profitability. The ramp-up of production in the new cooking factory in Springfield continued as planned with improved production output and productivity in the quarter. I am very pleased with the reception of our products in the market. The cooking products produced in Springfield contributed to a record-high consumer star rating overall of 4.6 out of 5 in North America, with industry leading ratings in all key categories. Our ability to continue generating a positive mix, and stabilizing net price sequentially, in this challenging market environment shows that our focus to strengthen our position in the mid- and premium categories continues to be effective.

Market conditions in the second quarter remained similar to the most recent quarters, with the cumulative effect of high inflation and high interest rates continuing to weigh on consumer sentiment. The exception was Brazil, where the improved consumer sentiment supports demand. In general, inflation has been somewhat more sticky than anticipated, continuing to weigh on discretionary spend. This has slightly delayed the anticipated improvement in demand, particularly in Europe. Hence, we have revised the outlook for market demand in “Europe, Asia-Pacific” in full year 2024 from neutral to negative. In Europe, housing construction and kitchen remodeling remain at very subdued levels, while replacement market demand has stabilized, with high promotional intensity. Demand in North America has been stable year to date, supported by the aggressive pricing environment, despite weak housing markets.

Price was negative during the first half of 2024, with price pressure in North America reflecting the lower price levels established in late 2023, and high promotional activity in other markets. As previously communicated, we expect price to be negative for full year 2024, also impacting the second half negatively. However, we anticipate the promotional intensity in North America to continue to stabilize sequentially throughout the year.

We continue to execute on the cost-reduction activities with significant cost benefits expected to impact the second half of the year. Increased investments in marketing to capitalize on the momentum of our attractive product offering are yielding good returns and, as in the second quarter, we project to increase investments in Innovation and marketing in the second half of 2024. Ocean freight rates have increased recently, and taking this headwind from logistics costs into account, we are now targeting cost savings of approximately SEK 4bn in 2024, excluding investments in Innovation and marketing.

On the product side we are currently introducing a new smart laundry range aimed at improving clothing longevity and reducing the use of resources, where selected models have an energy rating above A – the highest energy class in the EU. This is one example of our actions toward meeting our new science-based targets for 2030, where an important part is to reduce scope 3 emissions by 42% between 2021 and 2030.

We are making progress on our strategic divestment initiatives of non-core assets, and as announced after closing of the second quarter, on July 18, 2024, we have agreed to divest the water heater business in South Africa for an enterprise value of approximately SEK 1.4bn. This is in line with our sharpened strategic focus on the mid- and premium segments, primarily under our main brands Electrolux, AEG and Frigidaire.

Looking ahead we aim to leverage further on the leaner and more simplified organization, continue to execute on our ambitious cost-reduction targets, and focus on our main brands to strengthen our position in selected mid- and premium categories as consumer demand in our main markets starts to recover. These are our key priorities to continue restoring margins and return to profitable growth.

Telephone conference 09.00 CET

A telephone conference is held at 09.00 CET today, July 19. Jonas Samuelson, President and CEO, and Therese Friberg, CFO, will comment on the report.

To only listen to the telephone conference, use the link:

https://edge.media-server.com/mmc/p/qsfvkkvv

OR

To both listen to the telephone conference and ask questions, use the link:

https://register.vevent.com/register/BI519ec9bc3310495e962284e36dfe9e9f

Presentation material available for download

www.electroluxgroup.com/ir

This disclosure contains information that Electrolux Group is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014) and the Swedish Securities Markets Act (2007:528). The information was submitted for publication, through the agency of the contact person, on 19-07-2024 08:00 CET.

For more information, please contact:
Maria Åkerhielm, Investor Relations, +46 70 796 3856
Electrolux Group Press Hotline, +46 8 657 65 07

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/electrolux-group/r/electrolux-group-interim-report-q2-2024,c4016708

The following files are available for download:

 

View original content:https://www.prnewswire.co.uk/news-releases/electrolux-group-interim-report-q2-2024-302201510.html

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

ImageTrend CFO John Wolfenden Accepted Into Forbes Finance Council

Published

on

By

Invitation-only professional community selects finance leader based on the depth and diversity of his experience 

EAGAN, Minn., July 24, 2026 /PRNewswire/ — ImageTrend, the leading provider of software and AI intelligence for emergency response, healthcare and public safety organizations, today announced that Chief Financial Officer John Wolfenden has been accepted into the Forbes Finance Council.

The Forbes Finance Council brings together executives, investors, and market operators who help shape how capital is allocated, managed, and protected in increasingly complex environments. The invitation-only members are vetted by a selection process that evaluates professional experience, leadership, and industry expertise. 

Wolfenden was selected following a review of his experience as CFO of multiple software companies and his track record of strengthening financial operations, improving business processes and supporting growth. At ImageTrend, he leads the finance function and serves as a strategic partner across the business as the company advances its AI-powered platform and supports more than 11,000 agencies. 

Recognized Finance Leadership 

Across his CFO roles, Wolfenden has focused on operational improvement, business growth and building finance functions that serve as strategic partners across the organization. At ImageTrend, he plays a critical role in the executive leadership team, overseeing financial strategy and operations and helping the company build the scalable foundation required for long-term growth. 

“John’s impact at ImageTrend goes well beyond the finance function,” said Joe Graw, Interim Chief Executive Officer and Chief Growth Officer. “He brings financial discipline, commercial perspective and a roll-up-your-sleeves approach to the decisions that shape how we grow and serve our customers. His selection for Forbes Finance Council is well deserved and gives him a valuable platform to share that expertise with other finance leaders.” 

Contributing to a Selective Finance Community 

As a council member, Wolfenden will join a curated peer community and have opportunities to work with an editorial team to share expert insights in original articles and contribute to Expert Panels on Forbes.com. He plans to share lessons from scaling software organizations and strengthening finance operations. 

“I am honored to have been selected to join Forbes Finance Council,” said Wolfenden. “I look forward to exchanging ideas with other finance leaders and learning from their experiences. I have always believed that finance should work closely with every part of the business, helping teams solve problems and make sound decisions. I am excited to bring what I learn back to ImageTrend as we continue improving how we operate and supporting the company’s growth.” 

For more information about ImageTrend, visit www.imagetrend.com.

About ImageTrend 

ImageTrend helps emergency response teams who struggle with documentation overload by giving them one AI-powered operating system so they can command with confidence and protect more lives with better decisions. 

Founded in 1998, the company serves more than 11,000 agencies in the United States, Canada and United Arab Emirates across Fire, Emergency Medical Services, and Hospital segments. With its deep industry knowledge and advanced data analytics capabilities, the software provider helps its customers streamline operations, shape long-term strategies, and dramatically improve outcomes. Its AI-embedded product solutions and dedicated team provide the intelligence and confidence that first responders need to tackle today’s challenges and prepare for tomorrow’s uncertainties.

About Forbes Councils 

Forbes Councils is a collective of invitation-only communities created in partnership with Forbes and the expert community builders who founded Young Entrepreneur Council (YEC). In Forbes Councils, exceptional business owners and leaders come together with the people and resources that can help them thrive.

To learn more about Forbes Councils, visit https://councils.forbes.com.

View original content to download multimedia:https://www.prnewswire.com/news-releases/imagetrend-cfo-john-wolfenden-accepted-into-forbes-finance-council-302834360.html

SOURCE ImageTrend LLC

Continue Reading

Technology

Okuma America Corporation to Exhibit at IMTS 2026 with Comprehensive Lineup

Published

on

By

Newly Designed Machines, Open-architecture CNC Control, Multiple Automation Systems, Intelligent Technologies, World-Class Services, Sustainable Initiatives, & More to be Featured

CHARLOTTE, N.C., July 24, 2026 /PRNewswire/ — The leadership team at Okuma America Corporation, a global leader and single-source builder of computer numeric control (CNC) machine tools, controls, and automation systems, is excited to announce the company’s exhibition plans for the 2026 International Manufacturing Technology Show (IMTS) to be held in Chicago, Illinois, from September 14 to 19, 2026.

Within its 17,000 square-foot booth, the company plans to showcase a comprehensive offering for the metalworking industry featuring new CNC machine tools, an industry-leading CNC control, a robust line of automation systems, intelligent manufacturing technologies, new world-class services, and more. Okuma America Corporation will host a media event in the South Hall (Booth #338500) on Tuesday, September 15 at 2:00 pm to highlight the company’s IMTS offerings, share insights from the Okuma leadership team, and showcase latest technologies during booth tours.

New & Notable

Four CNC Machines to Make Americas Debut
Of the 11 CNC machine tools Okuma will exhibit at IMTS 2026, four will make their debut in the Americas:

NEW – Okuma MB-100V Vertical Machining CenterNEW – Okuma GENOS M4000H-e Horizontal Machining CenterNEW – Okuma MS-320H Horizontal Machining CenterNEW – Okuma MULTUS U1000 Multitasking Lathe

Okuma Factory Automation and Peripherals
Okuma will present a comprehensive lineup of automation systems developed by the Okuma Factory Automation (OFA) Group, along with best-in-class solutions from its industry partners, all of which seamlessly integrate with Okuma machines. Leading the charge on automation innovation, Okuma is partnering with Intrinsic AI to display an AI automation robot cell. The company is pleased to announce that 9 of its 11 IMTS 2026 CNC machine tools will be paired with automation systems, including three solutions making their debut in the Americas:

NEXT GENERATION – Okuma Robot Loader (ORL) Series Enhancements & Additions – easy-to-integrate robotic systems designed to load and unload workpieces from machinesOkuma Robot Loader Drawer II (ORL-D II)Okuma Robot Loader for Machining Centers (ORL-MC II) with palletOkuma Robot Loader Plus with Pallet (ORL+) – a system designed to perform multiple functionsNEW – Okuma Tower Pallet Changer – vertical, two-level pallet changer with 13-pallet capacityNEW – Modular Automatic Tool Changer

NEW Virtual Reality Experience
Okuma will provide IMTS 2026 attendees with the opportunity to explore various Okuma machine models in a virtual reality environment. A dedicated area within the Okuma booth (booth #338500) will be available for participants to wear a virtual reality headset to view, walk around, and interact with a virtual 3D model of various Okuma CNC machine tools. This includes models beyond what is physically being exhibited within the booth, such as the MCR-A5CII double column machining center.

NEW Explore the Okuma Global Repair Center
Okuma is thrilled to share details of its newly constructed Global Repair Center at its headquarters campus in Charlotte, NC. The 35,000 square-foot facility brings mechanical and electrical repair, component exchange, upgrades, and legacy part fabrication together in a new, state-of-the-art building that is four times larger than previous dedicated space. Backed by advanced inspection, testing, CNC simulation, and thousands of ready-to-ship parts, the facility maximizes uptime, safeguards Okuma users’ investment, and reinforces Okuma’s promise to Passionately Pursue a Customer for Life. Booth visitors may explore the new facility via a 3D-printed model and watch a video of the facility’s impressive operations.

NEW Tribute to America 250
Okuma is pleased to recognize and celebrate the 250th anniversary of the United States of America with several tributes within its booth experience. Booth visitors can see an intricately-crafted Bald Eagle which is being created on the Okuma MU-8000V vertical machining center. Additionally, the company will also reward attendees who complete an in-booth survey with an exclusive baseball hat that features an American flag design element. Also, the GENOS M4000H-e horizontal machining center, which will be making its Americas Debut, will feature a one-of-a-kind patriotic graphics theme, produced by the company’s NASCAR partner, Richard Childress Racing.

Okuma Machine Featured in Partner Booth
Okuma is proud to partner with 50+ companies in the manufacturing industry through our Partners in Technology program, many who will be featured in demonstrations throughout the Okuma booth. Several program members are also exhibiting at IMTS 2026, including Air Turbine Tool. They will feature an Okuma GENOS M560-V vertical machining center in working display at their booth (#431645).

Comprehensive Technology Lineup

Okuma will showcase 11 CNC machine tools at the show, representing a wide range of the company’s vast product lines. Among these are four new products making their Americas debut. Additionally, ten unique automation systems will be on display, including three proprietary innovations from Okuma Factory Automation. The distinctive OSP-P500 control system will be featured on 9 of the 11 CNC machines in the booth, as well as on free-standing interactive simulators. Okuma will also highlight key components of its world-class service and support program.

Okuma’s complete IMTS 2026 machine, control, and automation lineup includes:

Okuma Machining Centers

 Paired Automation System

GENOS M4000H-e – NEW

 Internal Two-Station Automatic Pallet Changer (APC)

MB-100V – NEW

MB-5000HII

 Okuma Tower Pallet Changer

MS-320H – NEW

 Okuma Robot Loader Drawer II (ORL-D II)

MU-8000V

 Modular Automation Cell

GENOS M460V-5AX (5-axis)

Okuma Robot Loader Machining Center II (ORL-MC II) & Modular Automatic Tool Changer (ATC)

Lathes

 Paired Automation System

LB2000 EX III MYW

 Okuma Robot Loader Plus with pallet (ORL+)

LT2000 EX 3T3MY

 Okuma NC Unloader and LNS Bar Feeder

LU3000 EX

 Okuma Gantry Loader (OGL)

Multitasking Lathes

 Paired Automation System

MULTUS U1000 – NEW

Grinder

Paired Automation System

GA26W

Okuma Robot Loader Plus with pallet (ORL+)

Other Highlights

Okuma Speaking & Media Engagements
There will be multiple opportunities for show visitors to attend speaking engagements led by Okuma executive leadership and experts, including:

Okuma Press Conference on Tuesday, 9/15 at 2 PM CST, located in the Virtual Reality section of Okuma Booth (booth #338500)Simon Schneider, Director of Okuma Factory Automation, to present “The Automation Impact: Short-Term Wins to Long-Term Transformations” at Room W192-C on Tuesday, 9/15 at 2:15 CSTWade Andersion, Vice President of Engineering and Okuma Factory Automation, to present at the Blaser Swisslube Booth (booth #431228) on Tuesday 9/15 at 3 PM CST

Okuma is pleased to partner with a variety of manufacturing trade publications for scheduled media engagement and filming sessions throughout IMTS 2026. This includes outlets such as Practical Machinist, MTD CNC, Modern Machine Shop, and more.

Sustainability Initiatives
At Okuma, we’re working together to build a better machine tool and a better future. Okuma CNC machines are equipped with Okuma’s “Green Smart Machine” technology, a series of combined technologies that harmonize high-performance machining with intelligent energy management controls. Specifically, these technologies include Okuma’s proprietary ECO suite plus and Thermo-Friendly Concept, both of which will be displayed at IMTS 2026.

Okuma Best-in-Class Distributor Network
In support of Okuma’s mission of ‘Passionately Pursuing a Customer for Life’, Okuma has created strategic relationships with best-in-class distributorships to support customer needs within their local regions of operation. Representatives from each of Okuma’s distributors will be onsite at IMTS 2026.

Okuma Partners in Technology
Okuma’s Partners in Technology network brings together 50+ companies that represent best-in-class manufacturing solutions and technologies that pair perfectly with Okuma CNC machine tools.

For more information on Okuma’s IMTS offering, visit www.okuma.com/imts.

About Okuma America Corporation
Okuma America Corporation is the U.S.-based sales, marketing, engineering, and service affiliate of Okuma Corporation, a world-leading builder of CNC (computer numeric control) machine tools, controls, and automation systems. The company was founded in 1898 in Nagoya, Japan, and is the industry’s only single-source provider of CNC machines, drives, motors, encoders, spindles, and automation systems, all manufactured by Okuma. The company designs its own CNC controls to integrate seamlessly with each machine tool’s functionality. In 2014 Okuma launched the Okuma App Store, the industry’s only centralized online marketplace for machine tool apps and related content at that time. Along with its extensive distribution network (largest in the Americas), and Partners in Technology network of enhanced manufacturing technologies, Okuma is committed to helping users gain competitive advantage through the open possibilities of machine tools today and into the future. For more information, visit Okuma.com or follow us on Facebook, Instagram, LinkedIn and X.

View original content to download multimedia:https://www.prnewswire.com/news-releases/okuma-america-corporation-to-exhibit-at-imts-2026-with-comprehensive-lineup-302834361.html

SOURCE Okuma America Corporation

Continue Reading

Technology

TrendAI™ Adopts Claude Opus 5 to Advance Vulnerability Prioritization, Assessment, and Virtual Patching

Published

on

By

As a participant in Anthropic’s Cyber Verification Program, TrendAI applies frontier reasoning to convert vulnerability intelligence into faster protection across hybrid environments

DALLAS, July 24, 2026 /PRNewswire/ — TrendAI™, the enterprise AI security leader from Trend Micro Incorporated (TYO: 4704; TSE: 4704), today announced it is adopting Claude Opus 5, Anthropic’s latest and most capable Opus model, to help security teams convert vulnerability intelligence into immediate protection, from prioritization and assessment through to virtual patching. The move builds on TrendAI’s collaboration with Anthropic on Claude Opus 4.8, extending the same defensive focus to a model that delivers step-change gains in advanced reasoning, agentic workflows, and long-horizon analysis. As AI makes finding vulnerabilities easier than ever, the harder problem becomes protecting organizations faster than software can be permanently patched, and that is where TrendAI is putting Opus 5 to work.

As a participant in Anthropic’s Cyber Verification Program, which credentials organizations for the defensive use of frontier AI models, TrendAI is positioned to apply Claude Opus 5 to defensive security as access becomes available. The model is Zero Data Retention compatible, supporting TrendAI’s governance and data-protection requirements as it scales AI across security operations.

Rachel Jin, Chief Platform and Business Officer, Head of TrendAI™:
“With Claude Opus 5, TrendAI can move from vulnerability intelligence to action faster than ever, prioritizing what matters most by exploitability and business impact. Finding the vulnerability was always the hard part. Now the challenge is protecting organizations faster than software can be permanently patched, and frontier reasoning is what changes that equation, extending all the way to virtual patching that protects customers before a vendor fix ships. This is what it means to secure the AI age, fearlessly.”

These capabilities support TrendAI Vision One™ in helping security analysts, AppSec teams, and SOC teams prioritize exposure, map attack paths, and accelerate mitigation, including virtual patching, across hybrid environments, moving vulnerability management from a static scanning process into a faster, context-aware risk mitigation workflow.

About TrendAI™
TrendAI™, the global AI security leader and enterprise business unit of Trend Micro, empowers organizations with full AI visibility and consolidated security that inspires confidence, drives innovation, and eliminates risk. Trusted by the largest enterprises and governments across 185 countries, TrendAI™ secures the entire organization, from identities, to infrastructure, to data. Global Fortune 500 companies rely on TrendAI™ to cut risk and stop threats up to three months earlier, powered by world-leading threat and attack intelligence. Through deep ecosystem partnerships with market leaders like NVIDIA, Anthropic, AWS, Google, and Microsoft, TrendAI™ empowers your organization to securely drive forward at the speed of AI. AI Fearlessly. Learn more: trendaisecurity.com

About Anthropic
Anthropic is an AI safety and research company dedicated to building reliable, interpretable, and steerable AI systems. Its Claude family of models, including Claude Opus 5, enables advanced capabilities across a wide range of applications, including code understanding and security analysis.

View original content to download multimedia:https://www.prnewswire.com/news-releases/trendai-adopts-claude-opus-5-to-advance-vulnerability-prioritization-assessment-and-virtual-patching-302834362.html

SOURCE TrendAI

Continue Reading

Trending