Economic performance
For 2010 information regarding economic management approach and reporting practices, see Accounting and valuation principles and How we report. Financial goals are presented at Financial goals.
Market presence
The Workplace Standard stipulates that all employees are expected to be remunerated at levels no less than local minimum wage based on legally-stipulated working hours. Additionally, each operational unit is responsible for providing its employees with all legally-mandated benefits to which they are entitled (i.e.: medical and social insurance and pensions). For more information, see the Workplace Standard.
Electrolux reports on its market presence broken down by business area. See more at 'Operations by business area.'
Six countries are represented in Group Management, with six of 11 members coming from countries outside Sweden—a high number for a Swedish company.
Indirect impact
Electrolux operations have both direct and indirect impacts on stakeholders such as customers, consumers, suppliers, employees, the public purse and investors. The indirect impacts occur when income earned by these stakeholders in turn circulate transactions throughout their economies. Total taxes in 2010 amounted to SEK 1,309m (877), corresponding to 25% (25) of income after financial items.
The average number of employees during the year was 51,544 (50,633). See also how we regard our impact on local communities, and in emerging markets in Management approach: Society.
The proportion of procurement from low-cost countries increased from 30% in 2004 to approximately 56% in 2010 and is expected to reach approximately 70% in a couple of years.
Indirect values also include productivity gains from the use of Electrolux products. They have, however, not been formally calculated. Electrolux products help cut public spending by enabling self-reliant lifestyles for the elderly and those with physical disabilities. Two income families are also the norm in Western households; reduced workloads in the household due to appliances are enablers for this lifestyle. This has impacted the workforce in many economies.
Government financial assistance
Electrolux does not collate government financial assistance on Group level. The Swedish government is present in the shareholder structure via shareholder representation of national pension funds.