Highlights of 2010

  • Net sales increased by 1.5% in comparable currencies.
  • Strong growth in Latin America and Asia/Pacific offset lower sales volumes in Europe and North America.
  • For the first time Electrolux achieved its operating margin target of 6%.
  • Operating income increased to SEK 6,494m (5,322), corresponding to an operating margin of 6.1% (4.9), excluding items affecting comparability.
  • Improvements in product mix and cost savings offset higher costs for raw materials and downward pressure on prices.
  • The Board of Directors proposes a dividend for 2010 of SEK 6.50 (4.00) per share.
Key data        
SEKm, EURm, USDm, unless otherwise stated 2010 2009  2010 EURm  2010 USDm
Net sales 106,326 109,132 11,125 14,763
Operating income 5,430 3,761 568 754
Margin, % 5.1 3.4    
Income after financial items 5,306 3,484 555 737
Income for the period 3,997 2,607 418 555
Earnings per share, SEK, EUR, USD 14.04 9.18 1.47 1.95
Dividend per share 6.501) 4.00    
Average number of employees 51,544 50,633    
Net debt/equity ratio –0.03 0.04    
Return on equity, % 20.6 14.9    
         
Excluding items affecting comparability        
Items affecting comparability –1,064 –1,561 –111 –148
Operating income 6,494 5,322 679 902
Margin, % 6.1 4.9    
Income after financial items 6,370 5,045 666 884
Income for the period 4,739 3,851 496 658
Earnings per share, SEK 16.65 13.56 1.74 2.31
Return on net assets, % 31.0 26.2    
         
1) Proposed by the Board of Directors.         
Net sales and employees    
Ten largest countries SEKm Employees
USA 29,782 8,675
Brazil 14,231 11,004
Germany 5,974 1,783
Australia 5,514 1,580
Italy 4,609 6,210
Canada 4,390 1,401
France 4,223 1,182
Switzerland 3,667 875
Sweden 3,353 2,296
United Kingdom 2,898 387
Other 27,685 16,151
Total 106,326 51,544

Charts

Net sales

Operating income1)

Earnings per share1)

Number of employees2)

1) Excluding items affecting comparability.

2) Average number of employees.