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Note 3 Segment information

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	2013	2012¹⁾	2013
Major Appliances Europe, Middle East and Africa	34,278	33,436	1,105	347
Major Appliances North America	30,684	31,864	1,452	2,136
Major Appliances Latin America	22,044	20,695	1,590	979
Major Appliances Asia/Pacific	8,405	8,653	746	467
Small Appliances	9,011	8,952	461	391
Professional Products	5,571	5,550	588	510
	109,993	109,150	5,942	4,830
Group common costs	1	1	-910	-775
Items affecting comparability	—	—	-1,032	-2,475
Total	109,994	109,151	4,000	1,580
Financial items, net	—		-846	-676
Income after financial items	—	—	3,154	904

1) Amounts for 2012 have been restated where applicable as a consequence of the amended standard for pension accounting, IAS 19 Employee Benefit.

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		Other		Total
	2012	2013	2012	2013	2012	2013
Major Appliances Europe, Middle East and Africa	-927	-828	—	—	-927	-828
Major Appliances North America	-105	—	—	—	-105	—
Major Appliances Asia/Pacific	—	-351	—	—	—	-351
Small Appliances	—	-82	—	—		-82
Common Group costs, etc.	—	-1,214	—	—	—	-1,214
Total	-1,032	-2,475	—	—	-1,032	-2,475

Inter-segment sales exist with the following split:

	2012	2013
Major Appliances Europe, Middle East and Africa	396	479
Major Appliances North America	1,031	1,052
Major Appliances Asia/Pacific	197	171
Eliminations	1,624	1,702

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,
	2012¹⁾	2013	2012¹⁾	2013	2012¹⁾	2013
Major Appliances Europe, Middle East and Africa	22,800	22,936	14,067	14,408	8,733	8,528
Major Appliances North America	12,106	12,886	7,293	7,606	4,813	5,280
Major Appliances Latin America	13,337	12,875	6,601	6,321	6,736	6,554
Major Appliances Asia/Pacific	4,933	4,866	2,708	2,852	2,225	2,014
Small Appliances	4,528	4,756	2,973	3,202	1,555	1,554
Professional Products	2,664	2,720	1,681	1,760	983	960
Other²⁾	7,137	7,285	6,292	7,214	845	71
	67,505	68,324	41,615	43,363	25,890	24,961
Liquid funds	7,403	7,232	—	—	—	—
Interest-bearing liabilities	—	—	13,088	14,905	—	—
Pension assets/liablities	286	445	4,765	3,425	—	—
Equity	—	—	15,726	14,308	—	—
Total	75,194	76,001	75,194	76,001	—	—

1) Amounts for 2012 have been restated where applicable as a consequence of the amended standard for pension accounting, IAS 19 Employee Benefits. 2) Includes common functions, tax items and restructuring provisions.

	Depreciation and amortization		Capital expenditure		Cash flow¹⁾
	2012	2013	2012	2013	2012²⁾	2013
Major Appliances Europe, Middle East and Africa	1,473	1,455	1,011	1,294	1,493	373
Major Appliances North America	727	751	1,771	855	1,246	1,616
Major Appliances Latin America	441	458	488	742	1,704	259
Major Appliances Asia/Pacific	173	203	411	267	450	412
Small Appliances	182	204	196	225	985	296
Professional Products	100	99	161	76	525	530
Other³⁾	155	186	52	76	-1,445	-1,195
Items affecting comparability	—	—	—	—	-343	-687
Financial items	—	—	—	—	-673	-540
Taxes paid	—	—	—	—	-1,564	-1,343
Total	3,251	3,356	4,090	3,535	2,378	-279

1) Cash flow from operations and investments. 2) Amounts for 2012 have been restated where applicable as a consequence of the amended standard for pension accounting, IAS 19 Employee Benefits. 3) Includes Group functions.

Geographical information

	Net sales ¹⁾
	2012	2013
USA	29,632	31,006
Brazil	15,887	14,752
Germany	5,434	5,385
Australia	5,092	4,711
Switzerland	4,210	4,255
Sweden (country of domicile)	3,849	3,933
Canada	4,182	3,810
France	3,631	3,481
Italy	3,407	3,208
United Kingdom	2,650	2,989
Other	32,020	31,621
Total	109,994	109,151

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 1,870m (2,481). Tangible and non-tangible fixed assets located in all other countries amounted to SEK 24,281m (24,831). Individually, material countries in this aspect are Italy with SEK 3,023m (2,934), USA with SEK 4,509m (4,168) and Egypt with SEK 2,199m (2,418), respectively.

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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%.