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2012 Summary

  • Strong growth, net sales increased by 8.3% of which 5.5% referred to organic growth.
  • Operating income improved, mainly as a result of strong performance for appliances in North America and Latin America.
  • Weak market conditions in Europe adversely impacted results for Electrolux operations in the region.
  • A year of extensive product launches on most markets.
  • The Board proposes an unchanged dividend of SEK 6.50 per share.

Strong sales growth

Net sales for the Electrolux Group in 2012 improved by 8.3%, of which 5.5% was organic growth, 3.9% acquisitions and –1.1% changes in exchange rates. Strong sales growth in North America, Latin America and Asia offset lower sales in core markets such as Europe and Australia.


  • Electrolux is a global leader in household appliances and appliances for professional use, selling more than 40 million products to customers in more than 150 markets every year.
  • The company focuses on innovative solutions that are thoughtfully designed, based on extensive consumer insight, to meet the real needs of consumers and professionals.
  • Electrolux products include refrigerators, dishwashers, washing machines, cookers, air-conditioners and small appliances such as vacuum cleaners sold under esteemed brands like Electrolux, AEG, Eureka and Frigidaire.
  • In 2012 Electrolux had sales of SEK 110 billion and 61,000 employees.

Electrolux Grand Cuisine

Electrolux has collaborated with the world’s top chefs for more than 90 years and more than half of all Michelin-star restaurants in Europe use Electrolux products for food preparation. Now, for the first time, Electrolux is introducing these professional cooking systems to the world’s most exclusive homes under Electrolux Grand Cuisine.

Electrolux markets

Electrolux share of sales in growth markets is increasing. Share of sales in growth markets has increased from 20% to 35% in five years. In 2012, market demand in Europe and North America declined, while the market trend in such regions as Latin America and Southeast Asia was strong. Electrolux target is to strengthen the position in core markets and increase the share of sales in growth markets to at least 50% within a five-year period.

Electrolux net sales per market, %

Vision and strategy

Electrolux vision is to become the best appliance company as measured by customers, employees, and shareholders. With innovative products under strong brands and by leveraging the Group’s global strength and scope, Electrolux aims to create a platform for profitable growth. Dedicated employees with diverse backgrounds and a leadership in sustainability are necessary for Electrolux to achieve its vision.


The sustainability strategy is to develop smarter, more accessible, resource-efficient solutions that meet people’s needs and improve their lives. The main areas:

  • Products, services and markets – to sustainably provide resource-efficient products and services that are accessible to more people around the world.
  • People and operations – to engage employees in continually improving operations for the safety of people and the good of the environment.
  • Stakeholders and society – to build trust and connect with stakeholders across the value chain to achieve successful sustainability outcomes.

In 2012, for the sixth consecutive year, Electrolux was recognized as leader of its industry sector in the prestigious Dow Jones Sustainability World Index (DJSI).

Financial goals

The financial goals set by Electrolux aim to strengthen the Group's leading, global position in the industry and assist in generating a healthy total return for Electrolux shareholders. The objective is growth with consistent profitability. Key ratios exclude items affecting comparability.

Financial goals over a business cycle

  • Average growth of at least 4% annually
  • Operating margin of at least 6%
  • Capital turnover-rate of at least 4 times
  • Return on net assets of at least 20%


The Board of Directors proposes a dividend for 2012 of SEK 6.50 for a total dividend payment of approximately SEK 1,860m.  The proposed dividend corresponds to approximately 55% of income for the period, excluding items affecting comparability. The Group’s goal is for the dividend to correspond to at least 30% of income for the period, excluding items affecting comparability. Historically, the Electrolux dividend rate has been considerably higher than 30%.

The capital market

The Electrolux share is listed on Nasdaq OMX Stockholm. The market capitalization of Electrolux at year-end 2012 was approximately SEK 53 billion (34), which corresponded to 1.4% (1.0) of the total value of Nasdaq OMX Stockholm.

Total shareholder return during the year was 62.7%. Over the past ten years, the average total return on an investment in Electrolux shares has been 15.1% annually. The corresponding figure for the SIX Return Index was 12.6%.

Corporate governance

  • Election of Ronnie Leten and Fredrik Persson as new Board members at the Annual General Meeting 2012.
  • Election of Ronnie Leten as Deputy Chairman of the Board of Directors.
  • Two new members joined Group Management.
  • Closer cooperation between R&D, Design and Marketing since the formal structure in Group Management known as “The Innovation Triangle” was completed.
  • Performance-based, long-term incentive program for top management.
  • Focus on a global ethics-training program and implementation of a whistleblowing system.

Performance in relation to Electrolux financial goals

Sales growth of >4% annually

Operating margin of >6%

Capital turnover-rate of >4 times

Return on net assets of >20%

Key ratios are excluding items affecting comparability.
© Electrolux Group