External Audit
External auditors
The AGM in 2010 re-elected PricewaterhouseCoopers AB (PwC) as the Group’s external auditors for a four-year period, until the AGM in 2014. Authorized Public Accountant Anders Lundin is the auditor in charge of Electrolux.
PwC provides an audit opinion regarding AB Electrolux, the financial statements of its subsidiaries, the consolidated financial statements for the Electrolux Group and the administration of AB Electrolux. The auditors also conduct a review of the report for the third quarter.
The audit is conducted in accordance with the Swedish Companies Act, International Standards on Auditing (ISA) and generally accepted auditing standards in Sweden.
Audits of local statutory financial statements for legal entities outside of Sweden are performed as required by law or applicable regulations in the respective countries and as required by IFAC GAAS, including issuance of audit opinions for the various legal entities.
For additional information on the Group’s auditors, see below. For details regarding fees paid to the auditors and their non-audit assignments in the Group, see below and Note 28.Auditors
PricewaterhouseCoopers AB
Anders Lundin
Born 1956. Authorized Public Accountant. Partner in Charge.
Other audit assignments: Svenska Cellulosa AB SCA and TeliaSonera AB.
Holdings in AB Electrolux: 0 shares.
Björn Irle
Born 1965. Authorized Public Accountant.
Holdings in AB Electrolux: 0 shares.
Holdings in AB Electrolux as of December 31, 2013.
Fees to auditors
| SEKm | 2011 | 2012 | 2013 |
|---|---|---|---|
| PwC |
|
|
|
| Audit fees | 44 | 44 | 44 |
| Audit-related fees | 4 | 1 | 2 |
| Tax fees | 5 | 4 | 5 |
| All other fees | 6 | 4 | 2 |
| Total fees to PwC | 59 | 53 | 53 |
| Audit fees to other audit firms | – | 2 | 2 |
| Total fees to auditors | 59 | 55 | 55 |
CEO Statement
In 2013 we continued to deliver above our growth target and delivered 4.5% in organic sales growth.
CEO Statement
I'm convinced that raising product efficiency for the growing middle class is where long-term shareholder value creation lies.
Our products
Electrolux is the only appliance manufacturer in the industry to offer complete solutions for both consumers and professionals. The focus is on innovative and energy-efficient products in the premium segments.
Sustainability
Achieving the Group's vision of sustainability leadership is crucial to realizing the business strategy. The objective is to develop smarter, more accessible, resource-efficient solutions that meet people's needs and improve their lives. Read the comprehensive sustainability performance review.
Awards & recognition
Financial Reporting
Net sales for the Electrolux Group in 2013 amounted to SEK 109,151m, as against SEK 109,994m in the previous year. The organic sales growth was 4.5%, while currencies had an impact of -5.3%.
