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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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Function Now Connects to Meta’s Muse, Allowing Members to Bring Their Personal Health Data to the New AI Agent

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Members can securely bring their Function health data into Muse to better understand their health and personalize their AI experience.

AUSTIN, Texas, Sept. 8, 2026 /PRNewswire/ — Function today announced that members can securely connect their Function health data to Muse, Meta’s new personal AI agent. Muse joins ChatGPT, Claude, and Perplexity in Function’s growing network of AI connectors, giving members the ability to bring their personal health data into the AI experiences they choose to use.

Muse can use a member’s Function insights as personal context to help them understand their health, build and adapt plans around their goals, track progress, and follow through over time, while members remain in control of their data.

“Your AI should know your biology,” said Jonathan Swerdlin, CEO and Co-founder of Function. “By connecting Function health data to Muse, people can bring a living picture of their health into the AI platforms they use every day. We are entering a world where people understand their bodies in far greater detail and increasingly rely on AI to make decisions. Bringing those together makes AI dramatically more useful.”

How it works

Members authorize the connection from inside Meta, through the same account controls they already use to manage their account data. Once connected, Muse draws on their lab results and clinician-reviewed summaries to inform the goals and tasks a member brings to it.

Ask Muse how a lab result compares to a member’s optimal range before deciding whether to act on itHave Muse build or adjust a plan toward a health goal, using a member’s own Function insights as contextLet Muse flag when it’s time to schedule a member’s next Function lab visit, and follow up until it’s on the calendar

The Function health connector will roll out in the coming weeks. To learn more about Function or become a member, visit www.functionhealth.com.

About Function

Function is on a mission to enable everyone to live 100 healthy years. A groundbreaker in its category, Function has changed the game by making lab testing, MRI and CT, and longitudinal health data accessible, understandable, and actionable—serving millions. Function’s Medical Intelligence Lab™ (MI Lab™) is leveraging a dedicated clinical team to develop a continuous learning system that helps its members see, understand, and act on their biology over time. Members receive access to 160+ lab tests—including biannual testing—for just $365/year, equivalent to $1 per day, covering the heart, hormones, thyroid, liver, kidneys, heavy metal exposures, nutrient levels, inflammation, potential cancer signals, and more. Each member’s results are integrated into an intelligent, personalized interface designed to support powerfully informed decision-making. Function members can also access (for an additional cost) MRI and CT that are designed to see signs of cancer and hundreds of other conditions. Function believes everyone should have the power to own their health.

View original content to download multimedia:https://www.prnewswire.com/news-releases/function-now-connects-to-metas-muse-allowing-members-to-bring-their-personal-health-data-to-the-new-ai-agent-302872964.html

SOURCE Function Health

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Teletrac Navman Appoints Ricardo Buranello as CEO

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Alain Samaha to Continue Serving on Board of Directors

SYDNEY, Sept. 9, 2026 /PRNewswire/ — Teletrac Navman, a leading global provider of intelligent fleet and asset management solutions, today announced that it has named current Chief Financial and Operating Officer Ricardo Buranello as Teletrac Navman’s next Chief Executive Officer, effective October 1, 2026. Mr Buranello succeeds Alain Samaha, who will continue in the CEO role through September 30, 2026, to ensure a seamless transition. Mr Samaha will remain a member of Teletrac Navman’s Board of Directors and continue supporting the Company’s long-term vision and strategic planning.

Mr Buranello is a seasoned executive with more than two decades of international experience across telematics, IoT, and high-growth technology businesses. Having served as Chief Financial and Operating Officer since joining Teletrac Navman, he brings deep financial and operational expertise, a strong strategic orientation, and an intimate knowledge of the business that make him ideally suited to lead the Company into its next chapter. Mr Buranello previously held leadership roles at Telit Cinterion, Siemens and Totvs.

“This represents an ideal time for Teletrac’s next phase of leadership, and we’re confident that Ricardo is the right person for the job,” said Jonathan Olefson, Chairman of the Board at Teletrac Navman. “Ricardo is a proven, mission-oriented leader who understands our business from the inside out. We look forward to what he and the entire team will accomplish.”

“Alain helped transform Teletrac into a global leader in telematics and fleet management solutions. We are grateful for his vision, passion, and many contributions, and look forward to working with him on the Board,” continued Olefson.

Mr Samaha stated, “Leading Teletrac has been one of the great privileges of my professional life. I am proud of what we have done together, and I am equally excited about what lies ahead for Teletrac. Ricardo is the right leader for this moment. His strategic clarity and deep understanding of our business will serve Teletrac, our customers, and our employees well into the future.”

Mr Buranello added, “I am honoured by the trust the Board has placed in me and energised by the opportunities ahead. Our customers, employees, and partners can count on the same dedication to innovation, excellence, and delivering meaningful results that has been at the core of Teletrac since the beginning.”

Under Mr Buranello’s leadership, Teletrac Navman will continue advancing its cloud-based, AI-powered connected mobility platform while building on the growth, stability, and customer focus that have long defined the Company.

About Teletrac Navman

Teletrac Navman empowers the industries that transform and sustain our futures with simple and intelligent solutions that enhance the efficiency, safety, and sustainability of their operation. As a connected mobility platform for industries that manage vehicle and equipment assets, Teletrac Navman simplifies the complex so that its customers can transform the way they work through cloud-based solutions that leverage AI to unlock the power of operational insight. The company operates globally, with offices worldwide and headquarters in Northbrook, IL. For more information visit https://www.teletracnavman.com.au/.

About Respida

Respida is a software-focused private equity firm with decades of combined investing and operating experience. The firm partners with management teams at growth-oriented software and software-enabled companies, bringing hands-on operational rigor and financial discipline to drive growth and build durable market leaders. For more information, visit https://respida.com/.

View original content:https://www.prnewswire.com/apac/news-releases/teletrac-navman-appoints-ricardo-buranello-as-ceo-302872980.html

SOURCE Teletrac Navman

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Coda welcomes Bombay High Court judgment in its favor

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SINGAPORE, Sept. 8, 2026 /PRNewswire/ — Coda welcomed the Bombay High Court’s judgment on 2 September 2026 allowing the appeal by Coda Payments India and setting aside the orders that had kept its bank accounts and payment accounts frozen.

The judgment is a significant and positive outcome for Coda. We have been clear and consistent in our position throughout the proceedings and welcome the Court’s decision.

Coda has cooperated fully with the relevant authorities and respects the legal process. We now look forward to the judgment being implemented expeditiously and in full.

Coda remains committed to meeting all applicable legal and regulatory requirements in every market in which it operates.

The Bombay High Court’s judgment relates to the freeze on Coda Payments India’s bank accounts and payment accounts. Other related proceedings remain ongoing.

About Coda

Coda is a global leader in monetization, distribution, and commerce, trusted by the biggest names in gaming, entertainment, and technology, including Activision, Electronic Arts, Riot Games, Ubisoft, and Moonton. Founded in 2011 and headquartered in Singapore, Coda operates with 670+ employees worldwide, with core hubs in Asia and Europe. Coda combines payments, commerce, distribution, and rewards to drive global revenue growth for brands and publishers.

Coda’s products include Codapay, which provides access to 400+ payment methods across 80+ markets through a single API integration; Coda Webstore, which powers fully customized direct-to-consumer storefronts; Coda Consumer Platforms, including Codashop, Recharge.com, and Startselect.com; Coda Distribution, which extends reach through a network of commerce partners; and Giftcloud, a UK-based rewards business serving enterprise customers across Europe.

Coda is backed by Apis Partners, Insight Partners, Smash Capital, and GIC, and has been named an APAC High Growth Company (2023) by Financial Times, one of Granite Asia’s NextGenTech 30 (2024), a payments leader on Fortune’s Fintech Innovation Asia list (2024), and listed among The Straits Times Fastest Growing Fintechs (2024). For more on Coda, visit coda.co.

Press Contact
Coda:
Liz Adam
VP, Corporate Affairs
liz.adam@coda.co 

View original content:https://www.prnewswire.com/apac/news-releases/coda-welcomes-bombay-high-court-judgment-in-its-favor-302872984.html

SOURCE Coda

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