Electrolux AB Q4 2020 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Johan Eliason - Kepler Cheuvreux, Research Division - Analyst : Congratulations to good a result, and above all, good execution. I have a question regarding your business outlook and trying to understand the different buckets here, to some extent. You say cost efficiency will be positive, and it's including the reengineering program, which I understand hasn't been changed since Q2, where you gave us some updates on how the EBIT impact would be on that one. I understood, just looking at your growth, it would be around SEK 1 billion positive or so into 2021 over 2022. And then the other part, obviously, which is negative then is investment in consumer experience and marketing. And obviously, you cut those by SEK 630 million we learned from the new chart you showed -- or table you showed us this year. And the net of these and some other factors should still be negative. Is this SEK 1.1 billion something from the reengineering program significantly offset by something else in this cost efficiency bucket? And then on the marketing spend, will it be dramatically higher obviously than the SEK 630 million you cut by in 2020?

Question: Johan Eliason - Kepler Cheuvreux, Research Division - Analyst : Excellent. Then just on the decision on the incremental spending there. I think you've previously alluded to you want to grow EBIT by 7% per annum basic. Is that sort of the focus for you to make sure how these marketing spend is developing during the year, that you are meeting this EBIT growth target?