AB Electrolux (publ)

Q3 performance: resilient execution despite weak demand - Organic growth +3.5% (volume outperformed a market down quarter), despite challenging end-markets: North America -5%, Europe flat, Brazil +2%. - Reported EBIT: SEK 912m, margin 2.7% (vs 2.8% last year) with the main swing driven by cost efficiency offsetting external headwinds. - Operating cash flow: SEK 3.6bn (vs SEK 0.6bn last year), strong working-capital optimization.

Cost efficiency delivered strongly (core driver of earnings) - SEK 1.4bn cost reduction in Q3, mainly from product cost reduction, better sourcing, and factory productivity. - YTD: workforce reduced by >2,000 (from 41k to 39k). - Guidance update: full-year expected ~SEK 4bn cost efficiency (explained as a YoY improvement; not necessarily “more” because Q4 last year was also strong). CEO said savings from Anderson shutdown come “piece by piece”.

External headwinds remain a major pressure: tariffs + Middle East impact - Q3 earnings were hit by external factors including U.S. tariffs (232) and Middle East crisis effects (higher logistics + raw material costs) with reduced/no hedging protection for chemical costs. - The company explicitly expects these external headwinds to remain into coming quarters (no indication of easing). - Tariff refund cash: received ~SEK 1bn in Q3 related to overpaid IEEPA tariffs; remaining refund portion was described as small/not material going forward.