Annual Report 2009 2 Financial review
 

Eleven-year review

In the financial data section on Electrolux website you will find yearly and quarterly data for a number of years. The data are presented as tables or interactive graphs. Data are also available for download.
                          Compound annual growth rate, %
SEKm 2009 2008 2007 20061) 20051) 2005 2004 2003 2002 2001 2000 1999 5 years 10 years
Net sales and income                            
Net sales 109,132 104,792 104,732 103,848 100,701 129,469 120,651 124,077 133,150 135,803 124,493 119,550 –2.0 –0.9
Organic growth, % –4.8% –0.9% 4.0 3.3 4.5 4.3 3.2 3.3 5.5 –2.4 3.7 4.1    
Depreciation and amortization  3,442 3,010 2,738 2,758 2,583 3,410 3,038 3,353 3,854 4,277 3,810 3,905    
Items affecting comparability –1,561 –355 –362 –542 –2,980 –3,020 –1,960 –463 –434 –141 –448 –216    
Operating income  3,761 1,188 4,475 4,033 1,044 3,942 4,807 7,175 7,731 6,281 7,602 7,204 –4.8 –6.3
Income after financial items  3,484 653 4,035 3,825 494 3,215 4,452 7,006 7,545 5,215 6,530 6,142 –4.8 –5.5
Income for the period 2,607 366 2,925 2,648 –142 1,763 3,259 4,778 5,095 3,870 4,457 4,175 –4.4 –4.6
                             
Cash flow                            
EBITDA 8,764 4,553 7,575 7,333 6,607 10,372 9,805 10,991 12,019 10,699 11,860 11,325 –2.2 –2.5
Cash flow from operations
excluding changes in operating                             
assets and liabilities 6,378 3,446 5,498 5,263 5,266 8,428 7,140 7,150 9,051 5,848 8,639 7,595 –2.2 –1.7
Changes in operating assets and liabilities 1,919 1,503 –152 –703 –1 804 –1 888 1 442 –857 1,854 3,634–2,540 1,065    
Cash flow from operations 8,297 4,949 5,346 4,560 3,462 6,540 8,582 6,293 10,905 9,482 6,099 8,660 –0.7 –0.4
Cash flow from investments –2,967 –3,755 –4,069 –2,386 –4,485 –5,827 –5,358 –2,570 –1,011 1,213 –3,367 –3,137    
   of which capital expenditures –2,223 –3,158 –3,430 –3,152 –3,654 –4,765 –4,515 –3,463 –3,335 –4,195 –4,423 –4,439 –13.2 –6.7
Cash flow from operations and investments 5,330 1,194 1,277 2,174 –1,023 713 3,224 3,723 9,894 10,695 2,732 5,523    
Operating cash flow2) 5,330 1,228 1,277 1,110 -653 1,083 3,224 2,866 7,665 5,834 2,552 3,821 10.6 3.4
Dividend, redemption and repurchase of shares 69 –1,187 -6,708 –4,416 –2,038 –2,038 –5,147 –3,563 –3,186 –3,117 –4,475 –1,099    
Capital expenditure as % of net sales 2.0 3.0 3.3 3.0 3.6 3.7 3.7 2.8 2.5 3.1 3.6 3.7    
                             
Margins3)                            
Operating margin, % 4.9 1.5 4.6 4.4 4.0 5.4 5.6 6.2 6.1 4.7 6.5 6.2    
Income after financial items as % of net sales 4.6 1.0 4.2 4.2 3.4 4.8 5.3 6.0 6.0 3.9 5.6 5.3    
EBITDA margin, % 8.0 4.3 7.2 7.1 6.6 8.0 8.1 8.9 9.0 7.9 9.5 9.5    
                             
Financial position                            
Total assets 72,696 73,323 66,089 66,049   82,558 75,096 77,028 85,424 94,447 87,289 81,644 –0.6 –1.2
Net assets  19,506 20,941 20,743 18,140 17,942 28,165 23,988 26,422 27,91637,162 39,026 36,121 –4.1 –6.0
Working capital –5,154 –5,131 –2,129 –2,613 –3,799 –31 –383 4,068 2,216 6,659 9,368 8,070    
Trade receivables 20,173 20,734 20,379 20,905 20,944 24,269 20,627 21,172 22,484 24,189 23,214 21,513 –0.4 –0.6
Inventories 10,050 12,680 12,398 12,041 12,342 18,606 15,742 14,945 15,614 17,001 16,880 16,549 –8.6 –4.9
Accounts payable 16,031 15,681 14,788 15,320 14,576 18,798 16,550 14,857 16,223 17,304 12,975 11,132 –0.6 3.7
Equity 18,841 16,385 16,040 13,194   25,888 23,636 27,462 27,629 28,864 26,324 25,781 –4.4 –3.1
Interest-bearing liabilities 14,022 13,946 11,163 7,495   8,914 9,843 12,501 15,698 23,183 25,398 23,735 7.3 –5.1
Net borrowings 665 4,556 4,703 –304   2,974 1,141 –101 1,398 10,809 16,976 13,423 –10.2 –26.0
                             
Data per share                             
Income for the period, SEK 9.18 1.29 10.41 9.17 –0.49 6.05 10.92 15.25 15.58 11.35 12.40 11.40 –3.4 –2.1
Equity, SEK 66 58 57 47   88 81 89 87 88 77 70 –3.9 –0.5
Dividend, SEK4) 4.00 4.25 4.00 7.50 7.50 7.00 6.50 6.00 4.50 4.00 3.50 –10.6 1.3
Trading price of B-shares at year-end, SEK 167.50 66.75 108.50 137.00   206.50 152.00 158.00 137.50 156.50 122.50 214.00 2.0 –2.4
                             
Key ratios                            
Value creation 2,884 –1,040 2,053 2,202 1,305 2,913 3,054 3,449 3,461 262 2,4231,782    
Return on equity, %  14.9 2.4 20.3 18.7   7.0 13.1 17.3 17.2 13.2 17.0 17.1    
Return on net assets, % 19.4 5.8 21.7 23.2 5.4 13.0 17.5 23.9 22.1 15.0 19.6 18.3    
Net assets as % of net sales5) 17.1 18.1 18.6 16.5 15.7 21.0 21.2 23.6 23.1 29.3 30.4 30.6    
Trade receivables as % of net sales5) 17.7 17.9 18.3 19.1 18.3 18.1 18.2 18.9 18.6 19.1 18.1 18.2    
Inventories as % of net sales5) 8.8 11.0 11.1 11.0 10.8 13.9 13.9 13.4 12.9 13.4 13.1 14.0    
Net debt/equity ratio 0.04 0.28 0.29 –0.02   0.11 0.05 0.00 0.05 0.37 0.63 0.50    
Interest coverage ratio 7.54 1.86 7.49 6.13   4.32 5.75 8.28 7.66 3.80 4.34 4.55    
Dividend as % of equity  6.0 7.5 8.5   8.5 8.6 7.3 6.9 5.1 5.2 5.0    
                             
Other data                            
Average number of employees 50,633 55,177 56,898 55,471 57,842 69,523 72,382 77,140 81,971 87,139 87,128 92,916 –6.9 –5.9
Salaries and remuneration 13,162 12,662 12,612 12,849 13,987 17,033 17,014 17,154 19,408 20,330 17,241 17,812 –5.0 –3.0
Number of shareholders 52,000 52,600 52,700 59,500 60,900 60,900 63,800 60,400 59,300 58,600 61,400 52,600 –4.0 –0.1
Average number of shares after buy-backs, million 284.0 283.1 281.0 288.8 291.4 291.4 298.3 313.3 327.1 340.1 359.1      
Shares at year end after buy-backs, million 284.4 283.6 281.6 278.9 293.1 293.1 291.2 307.1 318.3 329.6 341.1      
                            
1) Continuing operations exclusive of outdoor products, Husqvarna, which was distributed to the Electrolux shareholders in June 2006.
2) Cash flow from divestments excluded.
3) Items affecting comparability are excluded.
4) 2009: Proposed by the Board. 
5) Net sales are annualized.

Produced by Solberg