Q4 18 was rather good with organic sales growth of 2.7% reflecting price increases and a positive product-mix, and a restated operating margin above consensus at 5.5% of sales (-0.8pt yoy). 2019 could be similar to 2018. 2020 looks better given the growing pay-back of significant capex in 2018-20 and the first cost savings of the restructuring in North America and Latin America. Electrolux announced its intention to separate and list its Professional Products business in order to seize growth ....