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Electrolux Group Interim report Q1 2026

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STOCKHOLM, April 24, 2026 /PRNewswire/ —

Highlights of the first quarter of 2026

Net sales amounted to SEK 29,543m (32,576) with flat organic sales of -0.5% (7.9). Organic sales growth was +3.6% in Europe, Middle East & Africa and Asia Pacific (EMEA APAC) and +8.0% in Latin America, driven mainly by higher volumes. North America reported an organic sales decline of -11.6%, mainly reflecting weaker market conditions.Operating income excluding non-recurring items was SEK 198m (452), corresponding to a margin of 0.7% (1.4). The decline was driven by an operating loss in North America, mainly due to increased costs for U.S. tariffs and a significant slowdown in market demand. Also, a change in accounting estimates for customer rebate provisions reflecting price volatility in prior months and a voluntary recall of a limited number of Frigidaire gas ranges, jointly impacted operating income negatively with approximately SEK 0.3bn. Regions EMEA APAC and Latin America reported improved operating income excluding non-recurring items, with an operating margin of 4.1% and 7.9%, respectively. Increased cost efficiency contributed approximately SEK 0.7bn to Group operating income.Operating income of SEK -266m (452), corresponding to an operating margin of -0.9% (1.4) included a negative non-recurring item of SEK -463m related to previously announced actions in region Latin America.Income for the period amounted to SEK -470m (42) and earnings per share were SEK -1.74 (0.16).Operating cash flow after investments was SEK -4,566m (-3,107), negatively impacted by an operating loss in North America and a seasonal increase in working capital.Events after the close of the period: Electrolux Group announced on April 22, it will end production at the Jászberény, Hungary factory. Production is expected to cease by the end of 2026.Electrolux Group on April 23 announced that it has entered into agreements with Midea Group to establish a highly complementary long-term strategic partnership in North America.Electrolux Group on April 23 announced that it accelerates its profitable growth strategy through a partnership with Midea, global organization and footprint optimization, and a fully underwritten rights issue of approx. SEK 9 billion.

President and CEO Yannick Fierling’s comment

In recent months we have taken decisive steps to accelerate our profitable growth strategy. Yesterday initiatives were announced that will fundamentally strengthen Electrolux Group. We are forming a highly complementary, strategic partnership with Midea Group in North America. It will accelerate growth, improve profitability and form a strong platform moving forward. We have also initiated efforts to optimize our global manufacturing footprint and improve efficiency across the organization. In addition, the Board of Directors have resolved on a fully underwritten rights issue of approximately SEK 9bn to finance our profitable growth initiatives and strengthen the Group’s balance sheet.

The home appliance industry is undergoing rapid change, with an increasingly dynamic market environment. In the first quarter I am pleased we strengthened our market positions in Europe and Brazil. Regions EMEA APAC and Latin America grew sales and improved operating income and margin, adjusted for non-recurring items. However, North America reported weaker sales reflecting a 10% decline in market demand, and an operating loss in the quarter. The Group’s ambition for cost reductions remains high and with SEK 0.7bn in the first quarter, we are on track to reach the cost efficiency outlook of SEK 3.5-4.0bn for full-year 2026.

Europe, Middle East & Africa and Asia Pacific

Despite a flat European core appliance market in the quarter, organic sales increased. Operating income and margin improved, mainly driven by cost efficiency. Volume and mix improved, with increased market shares for the AEG and Electrolux brands and a further strengthened position in the important built-in kitchen segment.

Latin America

In Brazil, growth in consumer demand continued and Latin America reported good organic growth, with improved operating income and a higher margin, adjusted for non-recurring items. The competitive pressure was strong and the improvement in operating income was mainly driven by cost efficiency.

North America

Market demand in the U.S. declined significantly and price levels are estimated to have been up slightly, year-over-year, however not reflecting the year-over-year cost increase of implemented U.S. tariffs. Significant negative external factors, mainly related to tariff costs, and the organic sales decline were the main contributors to the operating loss. In addition, a change in accounting estimates for customer rebate provisions reflecting price volatility in prior months, and a voluntary recall of a limited number of Frigidaire gas ranges jointly impacted operating income negatively with approximately SEK 0.3bn.

As a result of a review of our global manufacturing footprint, the decision was announced earlier this week to cease production in Jászberény, Hungary, by the end of 2026. Also, a decision was taken during the first quarter to cease manufacturing in Santiago, Chile, by the end of April, and downsizing measures were implemented in Argentina.

Revisions to market outlook for 2026

Following the downturn in the U.S. home appliances market in the first quarter, the market outlook for North America in 2026 is revised from ‘Neutral to Negative’ to ‘Negative’. The Brazilian home appliance market developed positively in the first quarter and although growth rates may slow somewhat throughout the year the market outlook for Brazil in 2026 is changed from ‘Neutral’ to ‘Positive’. The market outlook for Europe remains ‘Neutral’.

Our business outlook for 2026 remains overall unchanged, despite expected additional costs related to extended U.S. Section 232 import tariffs on products that contain steel and aluminum, applicable since April 6, 2026. Sizeable price increases have already been announced in North America with the ambition to offset the negative impact from tariffs.

A major milestone in the transformation journey of Electrolux Group

The strategic initiatives announced yesterday will be instrumental to our long-term profitable growth. It will enable us to invest in innovations and consumer experiences that will define the future of home appliances, leverage global scale, significantly reduce costs and increase efficiency.

Webcast and telephone conference 09.00 CEST

A video webcast and simultaneous telephone conference is held at 09.00 CEST today, April 24. Yannick Fierling, President and CEO, and Therese Friberg, CFO, will comment on the report.

If you wish to participate via webcast, please use the link below. Via the webcast you are able to ask written questions.

https://edge.media-server.com/mmc/p/ky4p5vf7/

If you wish to participate via telephone conference please register on the link below. After registration you will be provided phone numbers and a conference ID to access the conference. You can ask questions verbally via the telephone conference.

https://register-conf.media-server.com/register/BId8cf6e47bcbc4ba880de8a08b333c2d3

Presentation material available for download on the Investor relations section on electroluxgroup.com

This is information that AB Electrolux is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, on 24-04-2026 07:00 CET.

sFor more information:

Ann-Sofi Jönsson, Head of Investor Relations & Sustainability Reporting, ann-sofi.jonsson@electrolux.com,  +46 73 025 1005

Maria Åkerhielm, Investor Relations Manager, maria.akerhielm@electrolux.com, +46 70 796 3856

Henry Sjölin, Investor Relations Manager, henry.sjolin@electrolux.com, +46 76 863 51 85

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

https://news.cision.com/electrolux-group/r/electrolux-group-interim-report-q1-2026,c4339626

The following files are available for download:

https://mb.cision.com/Main/1853/4339626/4056097.pdf

Interim report – ENG – Q1 2026

 

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SOURCE Electrolux Group

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Innowise Named to 2026 CRN Tech Elite 250 List By The Channel Company

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WARSAW, Poland, April 26, 2026 /PRNewswire-PRWeb/ — Innowise has officially secured a position on CRN’s 2026 Tech Elite 250. This annual ranking identifies IT solution providers across the US and Canada that have achieved top-tier status within the partner programs of the industry’s leading technology vendors. The inclusion follows a period of verified growth in technical proficiency and a focus on high-impact engineering.

“Innowise concentrates on creating scalable, resilient architectures that produce measurable benefits for our clients. The honor of being recognized by CRN highlights the commitment of our experts to maintain high standards in highly competitive markets,” said Dmitry Nazarevich, CTO at Innowise.

About the Tech Elite 250

The Tech Elite 250 is a directory of companies recognized as having the highest level of partnership and certifications within the global IT ecosystem. In order to reach the final list, the provider must hold the most advanced technical credentials from vendors like AWS, Cisco, Dell, HPE, IBM, Intel, Nutanix, and Nvidia.

This directory serves as a verified ledger for enterprise clients who need to orchestrate complex hardware and software stacks without letting legacy environments rot. Holding these certifications is mandatory to stop the cash bleed caused by inefficient infrastructure and unoptimized cloud usage.

About Innowise

Founded in 2007, Innowise is a global software engineering and IT consulting center. The company is focused on developing high-value technologies, including artificial intelligence, data engineering, and cloud computing. Innowise crafts technological solutions for companies across 40+ domains in order to assist them in updating, creating, and modernizing their digital ecosystems.

Innowise specializes in using established technologies and modular approaches to enable organizations to expand or shift their operations while retaining complete control over all their physical and intangible assets.

Media Contact

Lizaveta Piaskova, Innowise, 48 48 787 027 706, lizaveta.piaskova@innowise.com, innowise.com

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Neusoft Showcases Full-Stack & Global Innovations at Auto China 2026

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BEIJING, April 26, 2026 /PRNewswire/ — At Auto China 2026, Neusoft Corporation hosted a press conference on April 25th and announced three key strategic moves: the iteration of Neusoft OneCoreGo® Global In-Vehicle Intelligent Mobility Solution 7.0, the launch of Neusoft NAGIC.AI Cockpit Software Platform, and the strategic upgrade of its subsidiary, Neusoft Smart Go. By leveraging full-stack technology and a global ecosystem to drive innovation and empowerment, Neusoft is transforming vehicles into proactive, connected and collaborative mobile intelligent spaces.

OneCoreGo® Global In-Vehicle Intelligent Mobility Solution 7.0: An Evolved AI Companion for Global Intelligent Mobility

Intelligent mobility requires proactive perception, scenario integration, and global connectivity to meet personalized user needs and complex driving scenarios. Neusoft, whose products cover over 130 countries and regions worldwide, addresses these challenges with its OneCoreGo® Global In-Vehicle Intelligent Mobility Solution 7.0 through AI-driven innovation and global ecosystem collaboration. Powered by One Mate’s cross-agent collaboration and a sub-product matrix including One Map, One Sight, One Cloud, One Pay, One Store, One Link, and One Guard, the solution delivers full-link global mobility services spanning navigation, in-cabin AR, payment, app ecosystem services, connectivity and security. By breaking down functional silos, it streamlines multi-step operations into a single “depart” command, leveraging full-stack AI technology across perception, decision-making, interaction, and execution processes.

Guan Xin, Vice President of Neusoft and General Manager of Neusoft Automotive Innovative Solutions Division, said, “Adhering to the core principles of AI and globalization, OneCoreGo® 7.0 keeps innovating, evolving into a globally intelligent mobility companion that truly understands user needs.”

To enhance driving safety and mobility efficiency, OneCoreGo® 7.0 has also comprehensively upgraded its sub-products: One Map Global Navigation newly introduces 3D city effects, 3D lane-level maps, and traffic light guidance, offering dedicated solutions for two-wheelers and commercial vehicles as well. One Sight AR For Car improves navigation display effects, reducing instances of taking wrong routes. One Pay In-Vehicle Payment achieves over 90% payment coverage for parking services across core European cities. Combined with One Cloud’s global compliance cloud monitoring platform and One Guard’s full-stack vehicle networking security services, it creates a truly comprehensive OneCoreGo® Global In-Vehicle Intelligent Mobility Solution.

Neusoft NAGIC.AI Cockpit Software Platform: Dual-track Architecture for AI Integration in Every Vehicle

Amid the AI-driven transformation of the automotive industry, the market faces two challenges: limited computing power in legacy vehicles and high adaptation difficulties for next-gen models. Neusoft’s NAGIC.AI Cockpit Software Platform adopts a flexible “distributed + centralized” dual-track architecture approach. For existing vehicle models, it introduces the AI BOX solution, rapidly boosting computing power via external AI computing units, significantly reducing upgrade costs and timelines. For new vehicle models built on next-gen central computing platforms, Neusoft provides a full-stack AI cockpit software product suite, meeting automakers’ stringent requirements for system stability, reliability, and full-domain control.

Pang Hongyan, Vice President of Neusoft and General Manager of the Automotive Intelligent Software Division, said, “Our dual-track architecture enables every vehicle to embrace AI and enjoy an intelligent future. Both existing models and new-generation vehicles can find the most suitable path to intelligentization.”

Moreover, Neusoft’s NAGIC.AI Cockpit Software Platform features scenario-based, human-centric AI Agents seamlessly integrating driving safety, occupant care services, intelligent assisted driving and in-cabin entertainment. Neusoft also collaborates with global ecosystem partners to drive intelligent upgrades of in-cabin interaction products, fostering a more open and dynamic intelligent cockpit ecosystem.

Strategic Upgrade of Neusoft Smart Go: A World-leading Provider of Full-Domain Upper-Body Electronics Solutions for Intelligent Vehicles

Aligning with the trend of E/E architecture evolution from distributed control to “central computing + zonal control”, Neusoft Smart Go, a subsidiary of Neusoft in the field of intelligent vehicle connectivity, has completed a strategic upgrade, aiming to become a global leader in full-domain upper-body electronics solutions for intelligent vehicles.

This strategic upgrade positions Neusoft Smart Go to focus on full-domain scenarios in upper-body electronics, building a product matrix covering full-category in-vehicle electronics solutions, including central computing platforms, cockpit-driving-parking integration, intelligent cockpits, intelligent communications, intelligent audio systems, and zonal control units, and pioneering the integration of large model algorithms.

Jian Guodong, Senior Vice President of Neusoft and CEO of Neusoft Smart Go, said, “This strategic upgrade represents a significant leap from partial focus to comprehensive layout. Through our dual-track strategy of high-end cutting-edge solutions and mature standardized products, we can flexibly meet the mass production needs of vehicle models across different regions and price segments worldwide.” Neusoft Smart Go will provide mass-producible, adaptable hardware-software integrated solutions, empowering global automakers in achieving intelligent transformation.

Neusoft’s President, Mr.Gai Longjia stated, “In the future, Neusoft Smart Go will create stronger synergy with Neusoft Corporation by sharing internal technologies and capabilities while responding jointly to external demands. This specialized yet collaborative model will preserve business unit’s agility and expertise while enhancing Neusoft’s full-stack technological advantages.”

As a trusted partner in a smarter world, Neusoft is committed to collaborating with global automakers and ecosystem partners to build an open and inclusive intelligent automotive community together for the future of global mobility.

For more information about Neusoft, please visit www.neusoft.com.

 

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Lianlian DigiTech Returns to Money20/20 Asia to Expand Partnerships, Share Industry Trends, and Explore AI-Enabled Global Financial Infrastructure

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BANGKOK, April 26, 2026 /PRNewswire/ — Lianlian DigiTech, a leading global provider of digital payment services, was once again invited to participate in Money20/20 Asia, one of the world’s most influential fintech gatherings, held in Bangkok, Thailand from April 21 to 23. At the event, the company presented its latest developments in cross-border payment infrastructure, technology innovation, and ecosystem collaboration, offering a comprehensive view of its work enhancing global cross-border payment capabilities.

During the conference, Lianlian DigiTech announced a strategic partnership with UK-based fintech company USI Money to further strengthen its global cross-border payment network, delivering more efficient and reliable fund flows for merchants worldwide. Shen Enguang, Co-President of Lianlian DigiTech; Mark Ma, Head of Global Banking Partnership at LianLian Global; and Bryan Jiang, General Manager Hong Kong of LianLian Global, attended the event and engaged with representatives from international financial institutions. They shared perspectives on fintech trends and global payment innovation, offering industry insight into the continued evolution of a more integrated and interoperable cross-border payments ecosystem.

Building a Borderless Payment Network with Global Partners Including USI Money

At the event, Lianlian DigiTech formalized a strategic collaboration with London-headquartered USI Money to further develop its global payment infrastructure.

The partnership will focus on cross-border remittance and foreign exchange services, combining both companies’ technological capabilities and resources to deliver a one-stop payment and collection solution for global businesses. The offering is built to be efficient, secure, and cost-effective, improving overall fund flow efficiency and streamlining foreign exchange execution.

Syed Bukhari, Group Chief Business and Operating Officer at USI Money, said: “Our partnership with Lianlian will strengthen our remittance capabilities, creating greater value for our customers through broader network coverage and improved transaction performance.”

Bryan Jiang, General Manager Hong Kong of LianLian Global, said: “By leveraging the complementary strengths of our ecosystem partners in technology and compliance, Lianlian will continue to scale its global payment network and improve transaction efficiency. We remain committed to enhancing financial connectivity across global financial markets and delivering more efficient and reliable cross-border payment solutions for our customers.”

Founded in 2009 and listed on the Main Board of the Hong Kong Stock Exchange in 2024 (2598.HK), Lianlian DigiTech is a China-based, globally focused digital payment company with increasingly integrated AI capabilities across its platform. Guided by its mission of “Connecting the world, Empowering global commerce,” the company focuses on developing a trusted and scalable financial infrastructure. As of the end of 2025, Lianlian DigiTech has built a cross-border payment network covering more than 100 countries and regions, serving over 10.4 million customers worldwide.

USI Money is a foreign exchange and international remittance service provider offering tailored cross-border financial solutions for businesses and individuals. With competitive real-time exchange rates and efficient execution as its core strengths, the company delivers fast, secure, and reliable global fund transfers.

In addition, Lianlian DigiTech co-hosted a networking session with Unlimit during the event, providing a forum for industry dialogue. The session brought together a broad group of fintech partners to explore collaborative models and help foster a more connected ecosystem.

Industry Roundtables: Unlocking Layered Collaboration in AI-Driven Cross-Border Payments and Advancing Financial Inclusion in Emerging Markets

At the same time, Mark Ma and Bryan Jiang were invited to the themed roundtable discussions, where they shared insights drawn from industry practice and outlined new approaches to aligning fintech innovation with the global financial system.

At the roundtable on “Fintech and Banks,” Mark Ma noted that the global payment system is rapidly shifting from isolated capabilities to a layered, collaborative model. Banks continue to serve as the foundational infrastructure, responsible for clearing networks and liquidity management. Fintech firms like Lianlian, meanwhile, build on top of this foundation to deliver application-layer services for businesses, transforming complex cross-border payment channels into more accessible solutions that support a wider range of practical business scenarios. He also emphasized fintech’s growing role in compliance and value creation. By embedding risk controls and verification processes into technology workflows, fintech companies can act as compliance intermediaries, improving efficiency while filtering risk and enabling banks to operate more effectively at scale. Meanwhile, insights derived from transaction data and business flows allow for more precise evaluation of small and medium-sized businesses, shifting capital allocation from experience-based decisions to data-driven approaches and improving access to financial services.

At the roundtable titled “Different Worlds, Shared Challenges: Bridging Emerging Markets,” Bryan Jiang pointed out that the core of financial inclusion is shifting from scale of coverage to practical usability in everyday financial activity. The ability to serve underserved segments such as small and micro merchants and overseas workers in a sustained and reliable manner ultimately depends on continuous improvements in product design and operational capabilities. Using emerging markets as an example, Jiang explained that small and medium-sized businesses in these regions often face challenges such as difficult account setup, complex cross-border collections, high foreign exchange costs, and multi-layered tax requirements. Many existing solutions still follow traditional business-focused models, resulting in cumbersome KYB processes and lengthy review cycles that are misaligned with the asset-light, high-frequency, fast-turnover nature of these businesses. In response, Lianlian has lowered barriers to fund flows by offering local collection accounts, optimizing foreign exchange mechanisms, and improving settlement efficiency. The company has also restructured account architecture, streamlined review processes, and enhanced fund visibility, creating a more seamless and intuitive user experience that better aligns financial services with its clients’ business operations and day-to-day activities.

As digital technologies increasingly integrate with the real economy, innovations in AI and blockchain are reshaping the foundations of global financial services. Lianlian DigiTech has long invested in AI capabilities, global compliance, and the growth of its international service network. Its broad licensing coverage, regulatory track record, localized service capabilities, and technical reliability have earned the trust of regulators, customers, and partners worldwide.

Looking ahead, Lianlian DigiTech will continue to build on its cross-border expertise and compliance experience to further develop its AI capabilities and deepen collaboration with global partners. The company aims to extend its role beyond payment network services into more integrated financial infrastructure solutions. Lianlian DigiTech remains committed to serving as a trusted platform for global financial transactions in an increasingly digital environment, enabling businesses and individuals worldwide to access faster, more efficient, and more seamless cross-border financial services.

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SOURCE LianLian Global

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