Electrolux Recalls Sears Kenmore 24-Inch Electric Ranges Due to Electrical Shock Hazard
Feb 24 15
Electrolux recalled Sears Kenmore 24-inch electric ranges for the heating element can fail to properly adhere to the cooktop, posing an electrical shock hazard to consumers. This recall involves Sears Kenmore 24-inch wide freestanding electric ranges with model number 790.90152 with serial numbers from NF408 through NF424 and model number 790.90153 with serial numbers from NF408 through NF427. The ranges have smooth cooktops and are white or black with stainless steel accents. The model and serial numbers are located on the bottom right frame of the range inside the storage drawer. Consumers should immediately stop using and unplug the recalled electric ranges and contact Sears to schedule a free inspection and repair if necessary.
Electrolux Proposes Dividend for the Year 2014; Reports Unaudited Consolidated and Parent Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Provides Capital Expenditure Guidance for the Full Year 2015
Jan 28 15
The board of Electrolux proposed a dividend for the year 2014 of SEK 6.50 per share reflects the company’s healthy balance sheet and determination to deliver economic value to all of stakeholders. And the proposed dividend corresponds with a payout ratio of approximately 83% based on reported EPS.
The company reported unaudited consolidated and parent earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, on consolidated basis, the company reported net sales of SEK 31,400 million compared to SEK 28,891 million a year ago. Income for the period, including items affecting comparability, was SEK 970 million compared to SEK 987 million a year ago. Diluted earnings per share were SEK 3.36 compared to negative SEK 3.43 per share a year ago. Cash flow from operations was SEK 2,449 million compared to SEK 2,111 million last year. Capital expenditure in property, plant and equipment was SEK 1,152 million compared to SEK 1,189 million last year. Capital expenditure in product development was SEK 88 million compared to SEK 95 million last year. Capital expenditure in software was SEK 91 million compared to SEK 61 million last year. Operating income was SEK 1,395 million compared to operating loss of SEK 1,170 million last year. Operating income excluding items was SEK 1,472 million compared to SEK 1,223 million last year. Operating income from professional operations increased in the fourth quarter as a result of higher sales volume and increased cost efficiency. Earnings per share excluding items were SEK 3.64 compared to SEK 3.80 per share last year.
For the quarter, on parent basis, the company reported net sales of SEK 8,455 million compared to net sales of SEK 7,899 million for the same period a year ago. Operating loss was SEK 522 million compared to SEK 2,404 million last year. Income before taxes was SEK 1,452 million compared to loss before taxes of SEK 2,165 million last year. Income was SEK 1,454 million compared to loss of SEK 1,352 million last year.
For the year, on consolidated basis, the company reported net sales of SEK 112,143 million compared to net sales of SEK 109,151 million for the same period a year ago. Operating income was SEK 3,581 million compared to SEK 1,580 million last year. Income was SEK 2,242 million compared to SEK 672 million last year. Income attributable to equity holders of the parent company was SEK 2,241 million or SEK 7.78 per diluted share compared to SEK 671 million or SEK 2.34 per diluted share last year. Cash flow from operations was SEK 7,822 million compared to SEK 4,455 million last year. Capital expenditure in property, plant and equipment was SEK 3,006 million compared to SEK 3,535 million last year. Capital expenditure in product development was SEK 355 million compared to SEK 442 million last year. Capital expenditure in software was SEK 290 million compared to SEK 514 million last year. Return on net assets was 14.2% compared to 5.8% last year. Return on equity was 15.7% compared to 4.4% last year. Net debt SEK 9,631 million compared to SEK 10,653 million last year. Operating income excluding items was SEK 4,780 million compared to SEK 4,055 million last year. Earnings per share excluding items were SEK 11.30 compared to SEK 9.81 per share last year. Return on net assets excluding items was 17.1% compared to 14.0% last year.
For the year, on parent basis, the company reported net sales of SEK 29,508 million compared to net sales of SEK 28,856 million for the same period a year ago. Operating loss was SEK 1,252 million compared to SEK 3,370 million last year. Income before taxes was SEK 1,753 million compared to loss before taxes of SEK 1,674 million last year. Income was SEK 1,830 million compared to loss of SEK 909 million last year.
The company announced capital expenditure outlook will remain stable and remain in the range of around SEK 4 billion for the full year of 2015.
Electrolux Introduces Small Kitchen Appliances
Jan 20 15
Electrolux announced new collection of small kitchen appliances. The new Masterpiece Collection has been developed with unique PowerTilt and TrueFlow Pro technology to bring professional kitchen equipment to consumers' homes. The collection includes a tabletop blender, a food processor and an immersion blender, all created to make every day cooking more enjoyable. The timeless classic appearance comes from of a mix of die cast aluminum and stainless steel, and combined with the powerful performance of PowerTilt and TrueFlow Pro features make the Masterpiece Collection the ideal choice for home chefs looking to upgrade their kitchen space. The Masterpiece Collection features are: Tabletop blender: Premium blender that creates the smoothest velvety textures out of food due to its unique PowerTilt innovation, made possible by the optimal combination of titanium coated blades, a precisely titled carafe and powerful 1200W surge motor; Food processor: Designed to help perfectly and more quickly prepare any ingredient. The unique PowerTilt innovation consists of titanium coated blades, a precisely titled bowl and powerful 1200W induction motor. The 4.2L and 2.2L tilt bowls are big enough for large servings; and Immersion blender: Its 700W variable speed motor, versatile accessories and TrueFlow Pro technology mix the ingredients more uniformly and in less time than ever before. TrueFlow Pro technology is made possible by the optimal combination of titanium coated cutting blades, precisely engineered mixing head and a powerful turbo boost motor. The Masterpiece Collection will be available in August 2015 for a price ranging from $199-$499.