Note 3 - Segment information

All amounts in SEKm unless otherwise stated

Reportable segments – Business areas

The Group has six reportable segments. Products for the consumer durables market, i.e., major appliances and small appliances, have five reportable segments: Major Appliances Europe, Middle East and Africa; Major Appliances North America; Major Appliances Latin America; Major Appliances Asia/Pacific; and Small Appliances. Products within major appliances comprise mainly of refrigerators, freezers, cookers, dryers, washing machines, dishwashers, room air-conditioners and microwave ovens. Small appliances include vacuum cleaners and other small appliances. Professional products have one reportable segment.

  Net sales   Operating income  
  2012 2011   2012 2011  
Major Appliances Europe, Middle East and Africa 34,278 34,029   1,142 709  
Major Appliances North America 30,684 27,665   1,561 250  
Major Appliances Latin America 22,044 17,810   1,590 820  
Major Appliances Asia/Pacific 8,405 7,852   746 736  
Small Appliances 9,011 8,359   473 543  
Professional Products 5,571 5,882   596 841  
  109,993 101,597   6,108 3,899  
Group common costs 1 1   –926 –744  
Items affecting comparability — —   –1,032 –138  
Total 109,994 101,598   4,150 3,017  
Financial items, net — —   –672 –237  
Income after financial items — —   3,478 2,780  

In the internal management reporting, items affecting comparability is not included in the segments. The table specifies the segments to which they correspond.

Items affecting comparability
  Impairment/restructuring
  2012 2011
Major Appliances Europe, Middle East and Africa –927 –34
Major Appliances North America –105 –104
Major Appliances Latin America — —
Major Appliances Asia/Pacific — —
Small Appliances — —
Professional Products  — —
Total  –1,032 –138

Inter-segment sales exist with the following split:

  2012 2011
Major Appliances Europe, Middle East and Africa 396 349
Major Appliances North America 1,031 908
Major Appliances Asia/Pacific 197 339
Eliminations 1,624 1,596

The segments are responsible for the management of the operational assets and their performance is measured at the same level, while the financing is managed by Group Treasury at group or country level. Consequently, liquid funds, interest-bearing receivables, interest-bearing liabilities and equity are not allocated to the business segments.

  Assets
December 31,		   Equity and liabilities December 31,   Net assets
December 31,
  2012 2011   2012 2011   2012 2011
Major Appliances Europe, Middle East and Africa 22,826 24,297   14,418 14,847   8,408 9,450
Major Appliances North America 12,377 10,391   6,645 5,075   5,732 5,316
Major Appliances Latin America 13,337 14,075   6,637 6,607   6,700 7,468
Major Appliances Asia/Pacific 4,933 4,630   2,714 2,590   2,219 2,040
Small Appliances 4,532 4,792   3,013 2,582   1,519 2,210
Professional Products 2,671 2,829   1,775 1,897   896 932
Other1) 8,127 7,414   6,235 6,816   1,892 598
Items affecting comparability -55 4117   1,802 1,120   –1 857 –1,003
  68,748 68,545   42,239 41,534   25 509 27,011
Liquid funds 7,404 7,839     —   — —
Interest-bearing receivables — —     —   — —
Interest-bearing liabilities — —   13,089 14,206   — —
Equity — —   19,824 20,644   — —
Total  76,512 76,384   76,152 76,384   — —
                 
1) Includes common Group functions and tax items.      
  Depreciation and amortization   Capital expenditure   Cash flow1)
  2012 2011   2012 2011   2012 2011
Major Appliances Europe, Middle East and Africa 1,473 1,460   1,011 1,199   1,353 –1,099
Major Appliances North America 727 809   1,771 700   1,352 1,794
Major Appliances Latin America 441 314   488 526   1,706 –3,116
Major Appliances Asia/Pacific 173 173   411 286   450 725
Small Appliances 182 139   196 118   1,014 –13
Professional Products 100 104   161 287   545 760
Other2) 155 174   52 47   –1,457 –1,278
Items affecting comparability — —   — —   –348 –585
Financial items — —   — —   –673 –214
Taxes paid — —   — —   –1,564 –1,625
Total  3,251 3,173   4,090 3,163   2,378 –4,651
                 
1) Cash flow from operations and investments.
2) Includes Group functions.    
Geographical information    
  Net sales1)
  2012 2011
USA 29,632 26,637
Brazil 15,887 14,633
Germany 5,434 5,474
Australia 5,092 5,285
Switzerland 4,210 4,027
Canada 4,182 4,037
Sweden (country of domicile) 3,849 4,210
France 3,631 3,809
Italy 3,407 4,092
United Kingdom 2,650 2,544
Other 32,020 26,850
Total 109,994 101,598
     
1) Revenues attributable to countries on the basis of the customer’s location.

Tangible and non-tangible fixed assets located in the Group’s country of domicile, Sweden, amounted to SEK 2,481m (2,361). Tangible and non-tangible fixed assets located in all other countries amounted to SEK 24,831m (24,406). Individually, material countries in this aspect are Italy with SEK 2,934m (2,958), USA with SEK 4,168m (3,012) and Egypt with SEK 2,418m (2,734), respectively.