Parent Company income statement
Income statement
| SEKm | Note | 2012 | 2013 |
|---|---|---|---|
| Net sales |
|
6,125 | 28,856 |
| Cost of goods sold |
|
-4,638 | -25,382 |
| Gross operating income |
|
1,487 | 3,474 |
| Selling expenses |
|
-1,297 | -3,783 |
| Administrative expenses |
|
-469 | -1,196 |
| Other operating income | 5 | 293 | 9 |
| Other operating expenses | 6 | -38 | -1,874 |
| Operating income |
|
-24 | -3,370 |
| Financial income | 9 | 1,918 | 2,335 |
| Financial expenses | 9 | -946 | -826 |
| Financial items, net |
|
972 | 1,509 |
| Income after financial items |
|
948 | -1,861 |
| Appropriations | 21 | 180 | 187 |
| Income before taxes |
|
1,128 | -1,674 |
| Taxes | 10 | -9 | 765 |
| Income for the period |
|
1,119 | -909 |
Total comprehensive income for the period
| SEKm | Note | 2012 | 2013 |
|---|---|---|---|
| Income for the period |
|
1,119 | -909 |
| Other comprehensive income |
|
|
|
| Available for sale instruments |
|
26 | -68 |
| Cash flow hedges |
|
13 | 28 |
| Income tax relating to other comprehensive income |
|
-5 | -6 |
| Other comprehensive income, net of tax |
|
34 | -46 |
| Total comprehensive income for the period |
|
1,153 | -955 |
The Parent Company comprises the functions of the Group’s head office, as well as five companies operating on a commission basis for AB Electrolux.
As from 2013, the main financial flows for the business area Major Appliances Europe, Middle East and Africa are included in the parent company reporting, which affects the financial statements significantly.
Net sales for the Parent Company, AB Electrolux, for the full year of 2013 amounted to SEK 28,856m (6,125), of which SEK 23,484m (2,959) referred to sales to Group companies and SEK 5,372m (3,166) to external customers. The majority of the Parent Company’s sales was made within Europe. Other operating expenses include cost for impairment of assets and provisions for restructuring costs amounting to SEK 1,872m (37). Income after financial items was SEK -1,861m (948), including dividends from subsidiaries in the amount of SEK 2,004m (1,259). Income for the period amounted to SEK -909m (1,119). The Parent Company reports group contribution in the income statement as appropriations for the first time 2013. Corresponding changes have been made in the 2012 financial statements. Income tax related to group contributions is reported in the income statement. Income tax related to cash flow hedges is reported in other comprehensive income.
Capital expenditure in tangible and intangible assets was SEK 524m (320). Liquid funds at the end of the period amounted to SEK 2,795m, as against SEK 1,986m at the start of the year.
Undistributed earnings in the Parent Company at the end of the period amounted to SEK 12,531m, as against SEK 15,269m at the start of the year. Dividend payment to shareholders in 2013 amounted to SEK 1,860m.
For information on the number of employees as well as salaries and remuneration, see Note 27. For information on shareholdings and participations, see Note 29.
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%.
