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 2011 amounted to SEK 6,660m (5,989), of which SEK 3,266m (3,396) related to sales to Group companies and SEK 3,394m (2,593) to external customers. The majority of the Parent Company’s sales was made within Europe. After appropriations of SEK 32m (55) and taxes of SEK –191m (–335), income for the period amounted to SEK 2,745m (3,353).
Non-restricted equity in the Parent Company at year-end amounted to SEK 15,938m.
Net financial exchange-rate differences during the year amounted to SEK 247m (497).
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 2011 amounted to SEK 165m (198). Group contributions and the income tax related to group contributions are reported in the income statement. Income tax related to cash flow hedges reported in other comprehensive income amounts to SEK 6m (7).
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.