Spinoff Report
ELUXB & EPROB SS: Negatives Priced In, Accumulate on Lower Levels

Despite the ongoing selloff in the global markets, Electrolux AB (ELUXB SS) completed the Spinoff of its professional products business Electrolux Professional AB (EPROB SS) yesterday (March 23, 2020). We are positive on the forward outlooks in the mid- to long-term for both of these companies, considering the discounts they trade at relative to their peers and how negatives seem priced-in at current levels. Read on for more.

  • ELUXB SS Completes Spinoff of Professional Appliances Business EPROB SS
  • Debt Transfer Leaves Net Leverage for Both Entities Below Peer Averages
  • COVID-19 Impact Most Felt in China & Italy / Significant Discounts on Both Companies' EV/EBITDA
  • Mid- to Long-Term Positive Outlook Maintained / All Negative Factors Seem Priced-In at Current Levels
  • Updated Target Prices / ELUXB SS & EPROB SS Increase MP Weightings by +1% at the End of Today's (March 24) VWAPs
To continue reading this article and to gain access to other
proprietary research please subscribe to :
Spinoff Report
Institutional Investors:
To subscribe please call us:    USA: +1 (973) 867 7760    UK: +44 (0) 845 459 7103
or click to subscribe to Edge research
Individual Investors:
Click to subscribe to Spinoff Report Lite
To discuss any upcoming notes or for any urgent
assistance, please contact Jonathan Morgan
+44 (0) 845 459 7103