Note 7 Items affecting comparability
|
|
Group | |
|---|---|---|
|
|
2012 | 2013 |
| Restructuring and impairment |
|
|
| Manufacturing footprint restructuring | -1,032 | -594 |
| Program for reduction of overhead costs | — | -975 |
| Impairment of ERP system | — | -906 |
| Total | -1,032 | -2,475 |
Classification by function in the income statement
|
|
Group | |
|---|---|---|
|
|
2012 | 2013 |
| Cost of goods sold | -1,032 | -756 |
| Selling expenses | — | -466 |
| Administrative expenses | — | -1,253 |
| Other operating income and other operating expenses | — | — |
| Total | -1,032 | -2,475 |
Items affecting comparability in 2013 contains restructuring and rationalization activities related to measures to consolidate operations within Small Appliances, the closure of the refrigeration plant in Orange in Australia and efficiency measures of sales and administration processes mainly in Major Appliances Europe, Middle East and Africa. Furthermore, additional activities to adapt the manufacturing footprint in Europe were initiated. Finally, capitalized software related to the Group’s main ERP-system has been impaired as a consequence of a decision to phase out some modules in the application and change of the overall implementation plan in the Group.
Items affecting comparability in 2012 relates to restructuring costs aimed at optimizing the production system in Major Appliances Europe, Middle East and Africa and additional costs for pensions related to the closure of the plant in L’Assomption in Canada.
StopSearchHereCEO 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%.
