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Annual Report 2014 Report by the Board of Directors Notes Proposed distribution of earnings Auditor’s report 11-year review Quarterly info

Report by the Board of Directors

  • Net sales amounted to SEK 112,143m (109,151).
  • Sales increased by 2.7%, of which organic growth was 1.1%. Currencies had a positive impact of 1.6%.
  • Sales growth in most business areas.
  • Agreement to acquire GE Appliances in North America.
  • Operating income improved to SEK 4,780m (4,055), corresponding to a margin of 4.3% (3.7), ­excluding items affecting comparability.
  • Strong performance for Major Appliances EMEA, Major Appliances Latin America and Professional Products.
  • The restructuring program to reduce overhead costs and improve manufacturing footprint progressed according to plan.
  • Strong cash flow from operations after investments of SEK 6,631m (2,412).
  • Income for the period was SEK 2,242m (672), ­corresponding to SEK 7.83 (2.35) per share.
  • The Board of Directors proposes a dividend for 2014 of SEK 6.50 (6.50) per share.

Key data

SEKm 2013 2014 Change, %
Net sales 109,151 112,143 3
Operating income 1,580 3,581 127
Margin, % 1.4 3.2  
Income after financial items 904 2,997 232
Income for the period 672 2,242 234
Earnings per share, SEK1) 2.35 7.83  
Dividend per share, SEK 6.50 6.502)  
Net debt/equity ratio 0.74 0.58  
Return on equity, % 4.4 15.7  
Average number of employees 60,754 60,038  
Excluding items affecting comparability      
Items affecting comparability –2,475 –1,199  
Operating income 4,055 4,780 18
Margin, % 3.7 4.3  
Income after financial items 3,379 4,196 24
Income for the period 2,809 3,238 15
Earnings per share, SEK1) 9.81 11.30  
Return on net assets, % 14.0 17.1  

1) Basic, based on an average of 286.3 (286.2) million shares for the full year 2014, excluding shares held by Electrolux.

2) Proposed by the Board of Directors.

 

 

AB Electrolux (publ), 556009-4178, Annual Report 2014; Reporty by the Directors, Notes, Proposed distributions of earnings and Auditor's Report.