Note 29 Shares and participations
Associated companies
Participation in associated companies amounted in total to SEK 221m (16). In the first quarter of 2013 The Group acquired and subsequently partly divested the real estate company owning the Corporate head office to the Swedish pension foundation at fair value. The remaining investment in the real estate company Gångaren 13 Holding AB is SEK 203m representing a 50% ownership. The shareholding is classified as an associated company. Electrolux owns 39.3% of Sidème, France, with a carrying amount SEK 13 (12) and 24.5% of European Recycling Platform, France, with a carrying amount SEK 5m (4). Both companies are unlisted and Electrolux participation remained unchanged during the year.
Companies classified as assets available for sales
Electrolux holds 2.8% (2.8) of the shares in Videocon Industries Ltd., India, with a carrying amount of SEK 159m (228).
Group companies
The following table lists the major companies included in the Electrolux Group. A detailed specification of Group companies has been submitted to the Swedish Companies Registration Office and is available on request from AB Electrolux, Investor Relations and Financial Information.
| Subsidiaries |
|
Holding, % |
|---|---|---|
| Major Group companies |
|
|
| Argentina | Frimetal S.A | 99.49 |
| Australia | Electrolux Home Products Pty. Ltd | 100 |
| Austria | Electrolux Hausgeräte GmbH | 100 |
|
|
Electrolux CEE Ges.m.b.H. | 100 |
| Belgium | Electrolux Home Products Corporation N.V. | 100 |
| Brazil | Electrolux do Brasil S.A. | 100 |
| Canada | Electrolux Canada Corp. | 100 |
| Chile | CTI S.A. | 99.49 |
|
|
Somela S.A. | 98.12 |
| China | Electrolux (Hangzhou) Domestic Appliances Co. Ltd | 100 |
|
|
Electrolux (China) Home Appliance Co. Ltd | 100 |
| Denmark | Electrolux Home Products Denmark A/S | 100 |
| Egypt | Olympic Group Financial Investment S.A.E. | 99.94 |
| Finland | Oy Electrolux Ab | 100 |
| France | Electrolux France SAS | 100 |
|
|
Electrolux Home Products France SAS | 100 |
|
|
Electrolux Professionnel SAS | 100 |
| Germany | Electrolux Deutschland GmbH | 100 |
|
|
Electrolux Rothenburg GmbH Factory and Development | 100 |
| Hungary | Electrolux Lehel Kft | 100 |
| Italy | Electrolux Appliances S.p.A. | 100 |
|
|
Electrolux Professional S.p.A. | 100 |
|
|
Electrolux Italia S.p.A. | 100 |
| Luxembourg | Electrolux Luxembourg S.à r.l. | 100 |
| Mexico | Electrolux de Mexico, S.A. de C.V. | 100 |
| The Netherlands | Electrolux Associated Company B.V. | 100 |
|
|
Electrolux Home Products (Nederland) B.V. | 100 |
| Norway | Electrolux Home Products Norway AS | 100 |
| Poland | Electrolux Poland Spolka z.o.o. | 100 |
| Spain | Electrolux Home Products España S.A. | 100 |
|
|
Electrolux Home Products Operations España S.L. | 100 |
| Sweden | Electrolux Laundry Systems Sweden AB | 100 |
|
|
Electrolux HemProdukter AB | 100 |
|
|
Electrolux Professional AB | 100 |
|
|
Electrolux Appliances AB | 100 |
| Switzerland | Electrolux AG | 100 |
| United Kingdom | Electrolux Plc | 100 |
|
|
Electrolux Professional Ltd. | 100 |
| US | Electrolux Home Products, Inc. | 100 |
|
|
Electrolux North America, Inc. | 100 |
|
|
Electrolux Professional Inc. | 100 |
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%.
