The Parent Company comprises the functions of the Group’s head office, as well as five companies operating on a commission basis for AB Electrolux.
Net sales for the Parent Company in 2010 amounted to SEK 5,989m (5,928), of which SEK 3,396m (3,243) related to sales to Group companies and SEK 2,593m (2,685) to external customers. The majority of the Parent Company’s sales were made within Europe. After appropriations of SEK 55m (20) and taxes of SEK –283m (174), income for the period amounted to SEK 3,207m (3,355).
Non-restricted equity in the Parent Company at year-end amounted to SEK 15,089m.
Net financial exchange-rate differences during the year amounted to SEK 497m (455).
These differences in Group income do not normally generate any effect, as exchange-rate differences are offset against translation differences, i.e., the change in other comprehensive income arising from the translation of net assets in foreign subsidiaries to SEK at year-end rates.
Group contributions in 2010 amounted to SEK 198m (45). Group contributions net of taxes amounted to SEK 146m (33) and are reported in other comprehensive income. Income tax related to group contributions reported in other comprehensive income amounted to SEK –52m (–12). Income tax related to cash flow hedges reported in other comprehensive income amounted to SEK 7m (0).
For information on the number of employees as well as salaries and remuneration, see Note 27. For information on shareholdings and participations, see Note 29.