On March 23, 2020 Electrolux Professional was separated from AB Electrolux and listed as a separate company on NASDAQ Stockholm. Having spent most of my professional career in AB Electrolux, I am proud and happy to have been given the opportunity to represent Electrolux Professional in its new role as a stand-alone company. Without doubt, the long-standing heritage and experience we bring with us from the AB Electrolux will be of great benefit to us.
Electrolux Professional is one of the leading global providers of food service, beverage and laundry solutions, serving a wide range of customers globally, from restaurants and hotels to healthcare, education and other service facilities. Our solutions meet the need for high-performing, reliable equipment, with significant aftermarket requirements over the equipment’ lifecycle and for customers focused on productivity and total cost of ownership. The Electrolux Professional brand will continue to be our main brand. We aim to stay at the forefront, offering unique, innovative solutions that help our customers to be successful.
Several global trends favor the growth of our business. The increase in out-of-home spending, especially in emerging markets, means people are spending more money on dining out and less time a on household chores such as laundry. Many businesses are broadening their offerings and are becoming multi-function assets, for example, coffee shops offering food and laundromats offering coffee and food.
At the same time, the importance of sustainability is growing significantly. In addition to general awareness of the climate and our environment, ergonomic and sustainable solutions save money for our customers. This is an area where we can be truly valuable to our customers. Our new, innovative products are efficient and ergonomic, saving time, waste, energy, detergent and decreasing sick leave. The foundations for Electrolux Professional’s future growth are in place and we are ready to seize the opportunities!
The spin-off will enable Electrolux Professional to successfully realize our strategies under the leadership of a separate management team, with our own Board of Directors and independent access to capital. Electrolux Professional and the Electrolux Group have different end markets, customers and drivers for success and, as separate companies, both are better positioned to meet the varied drivers and challenges in our respective end markets.
Although we are experiencing challenging times with the global impact of the coronavirus, it is with a lot of energy and passion that we are starting the exciting journey to develop Electrolux Professional’s business as an independent company.
A warmly welcome to Electrolux Professional!
President and CEO