StartSearchHere

The Electrolux share

In 2013, expectations were yet again high despite challenging market conditions and increased headwinds from currency fluctuations. The Group, however, continued to deliver organic growth above its target during the year and operating income was at a solid level. Total return for the Electrolux share was 3 percent in 2013.

Electrolux mission is to create sustainable economic value and to increase return for all its stakeholders. Over the past 10 years, Electrolux shares have generated a compounded annual total return of 13%.

2013 characterized a year with stable development for the Electrolux share which showed a slight decline of –1%, while the broader Swedish market index, Affärsvärlden General Index, increased by 21% over the same period. The relative underperformance was mainly linked to weak market demand in Europe and consecutive quarters of unexpected currency headwinds which affected underlying earnings negatively. However, the Group met market expectations in terms of continued growth, healthy underlying profitability and solid cash-flow generation.

After a weak start of the year, Electrolux posted a strong organic growth of 5.9% in the second quarter of 2013 and gained market share. In the third quarter, the Group continued to show good growth and delivered an operating margin of close to 4% as a result of improved price and mix.

Data per share

	2004	2005	2006⁹⁾	2007⁹⁾	2008	2009	2010	2011	2012	2013
Year-end trading price, B shares, SEK¹⁾	65.90	89.50	116.90	108.50	66.75	167.50	191.00	109.70	170.50	168.50
Year-end trading price, B shares, SEK	152.00	206.50	137.00	108.50	66.75	167.50	191.00	109.70	170.50	168.50
Highest trading price, B shares, SEK	174.50	90.50	119.00	190.00	106.00	184.10	194.70	195.60	179.00	192.70
Lowest trading price, B shares, SEK	125.50	62.00	78.50	102.00	53.50	57.50	142.50	95.30	111.50	153.70
Change in price during the year,%	–4	36	31⁹⁾	–7	–38	151	14	–43	55	–1
Equity per share, SEK	81	88	47	57	58	66	72	73	55	50
Trading price/equity, %	187	234	247¹⁾	191	116	253	264	151	310	338
Dividend, SEK	7.00	7.50	4.00	4.25	0	4.00	6.50	6.50	6.50	6.50²⁾
Dividend as % of net income^{3) 4)}	46	47	37	36	0	29	39	86	57	66
Dividend yield, %⁵⁾	4.6	3.6	3.4¹⁾	3.9	0	2.4	3.4	5.9	3.8	3.9
Earnings per share, SEK	10.92	6.05	9.17	10.41	1.29	9.18	14.04	7.25	8.26	2.35
Earnings per share, SEK⁴⁾	15.24	15.82	10.89	11.66	2.32	13.56	16.65	7.55	11.36	9.81
Cash flow, SEK⁶⁾	10.81	2.45	7.53	4.54	4.22	29.16	26.98	18.97	24.74	15.57
EBIT multiple⁷⁾	9.5	16.1	8.0¹⁾	7.9	19.8	12.8	10.8	13.4	14.6	38.8
EBIT multiple^{4) 7)}	6.7	9.1	7.1¹⁾	7.3	15.2	9.1	9.1	12.8	11.6	15.1
P/E ratio⁸⁾	13.9	34.1	12.7¹⁾	10.4	51.7	18.2	13.6	15.1	20.6	71.7
P/E ratio^{4) 8)}	10.0	13.1	10.7¹⁾	9.3	28.8	12.4	11.5	14.5	15.0	17.2
Number of shareholders	63,800	60,900	59,500	52,700	52,600	52,000	57,200	58,800	51,800	51,500

1) Adjusted for distribution of Husqvarna in June 2006, and for redemption in January 2007. 2) Proposed by the Board. 3) Dividend as percentage of income for the period. 4) Excluding items affecting comparability. 5) Dividend per share divided by trading price at year-end. 6) Cash flow from operations less capital expenditures, divided by the average number of shares after buy-backs. 7) Market capitalization excluding buy-backs, plus net borrowings and non-controlling interests, divided by operating income. 8) Trading price in relation to earnings per share. 9) Continuing operations. StopSearchHere

CEO Statement

In 2013 we continued to deliver above our growth target and delivered 4.5% in organic sales growth.

CEO Statement

I'm convinced that raising product efficiency for the growing middle class is where long-term shareholder value creation lies.

Our products

Electrolux is the only appliance manufacturer in the industry to offer complete solutions for both consumers and professionals. The focus is on innovative and energy-efficient products in the premium segments.

Sustainability

Achieving the Group's vision of sustainability leadership is crucial to realizing the business strategy. The objective is to develop smarter, more accessible, resource-efficient solutions that meet people's needs and improve their lives. Read the comprehensive sustainability performance review.

Awards & recognition

Financial Reporting

Net sales for the Electrolux Group in 2013 amounted to SEK 109,151m, as against SEK 109,994m in the previous year. The organic sales growth was 4.5%, while currencies had an impact of -5.3%.