Compound annual growth rate, % |
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SEKm | 20051) | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 20122) | 2013 | 2014 | 2015 | 5 years | 10 years |
Net sales and income | |||||||||||||
Net sales | 129,469 | 103,848 | 104,732 | 104,792 | 109,132 | 106,326 | 101,598 | 109,994 | 109,151 | 112,143 | 123,511 | 3.0 | -0.5 |
Organic growth, % | 4.3 | 3.3 | 4.0 | –0.9% | –4.8% | 1.5% | 0.2% | 5.5 | 4.5 | 1.1 | 2.2 | ||
Depreciation and amortization | 3,410 | 2,758 | 2,738 | 3,010 | 3,442 | 3,328 | 3,173 | 3,251 | 3,356 | 3,671 | 3,936 | ||
Items affecting comparability3) | –3,020 | –542 | –362 | –355 | –1,561 | –1,064 | –138 | –1,032 | –2,475 | –1,199 | — | ||
Operating income | 3,942 | 4,033 | 4,475 | 1,188 | 3,761 | 5,430 | 3,017 | 4,000 | 1,580 | 3,581 | 2,741 | -12.8 | -3.6 |
Income after financial items | 3,215 | 3,825 | 4,035 | 653 | 3,484 | 5,306 | 2,780 | 3,154 | 904 | 2,997 | 2,101 | -16.9 | -4.2 |
Income for the period | 1,763 | 2,648 | 2,925 | 366 | 2,607 | 3,997 | 2,064 | 2,365 | 672 | 2,242 | 1,568 | -17.1 | -1.2 |
Cash flow | |||||||||||||
EBITDA4) | 10,372 | 7,333 | 7,575 | 4,553 | 8,764 | 9,822 | 6,328 | 8,283 | 7,411 | 7,252 | 6,677 | -7.4 | -4.3 |
Cash flow from operations, excluding changes in operating assets and liabilities | 8,428 | 5,263 | 5,498 | 3,446 | 6,378 | 7,741 | 4,283 | 5,552 | 5,130 | 6,045 | 4,704 | -9.5 | -5.7 |
Changes in operating assets and liabilities | –1,888 | –703 | –152 | 1,503 | 1,919 | –61 | 1,116 | 1,528 | –675 | 1,777 | 3,563 | ||
Cash flow from operations | 6,540 | 4,560 | 5,346 | 4,949 | 8,297 | 7,680 | 5,399 | 7,080 | 4,455 | 7,822 | 8,267 | 1.5 | 2.4 |
Cash flow from investments | –5,827 | –2,386 | –4,069 | –3,755 | –2,967 | –4,474 | –10,049 | –4,702 | –4,734 | -3,759 | -3,403 | ||
of which capital expenditures | –4,765 | –3,152 | –3,430 | –3,158 | –2,223 | –3,221 | –3,163 | –4,090 | –3,535 | -3,006 | -3,027 | -1.2 | -4.4 |
Cash flow from operations and investments | 713 | 2,174 | 1,277 | 1,194 | 5,330 | 3,206 | –4,650 | 2,378 | –279 | 4,063 | 4,864 | ||
Operating cash flow5) | 1,083 | 1,110 | 1,277 | 1,228 | 5,326 | 3,199 | 906 | 2,542 | –74 | 4,132 | 4,955 | ||
Dividend, redemption and repurchase of shares | –2,038 | –4,416 | –6,708 | –1,187 | 69 | –1,120 | –1,850 | –1,868 | –1,860 | -1,861 | -1,870 | ||
Capital expenditure as % of net sales | 3.7 | 3.0 | 3.3 | 3.0 | 2.0 | 3.0 | 3.1 | 3.7 | 3.2 | 2.7 | 2.5 | ||
Margins4) | |||||||||||||
Operating margin, % | 5.4 | 4.4 | 4.6 | 1.5 | 4.9 | 6.1 | 3.1 | 4.6 | 3.7 | 3.2 | 2.2 | ||
Income after financial items as % of net sales | 4.8 | 4.2 | 4.2 | 1.0 | 4.6 | 6.0 | 2.9 | 3.8 | 3.1 | 2.7 | 1.7 | ||
EBITDA margin, % | 8.0 | 7.1 | 7.2 | 4.3 | 8.0 | 9.2 | 6.2 | 7.5 | 6.8 | 6.5 | 5.4 | ||
Financial position | |||||||||||||
Total assets | 82,558 | 66,049 | 66,089 | 73,323 | 72,696 | 73,521 | 76,384 | 75,194 | 76,001 | 85,688 | 83,471 | 2.6 | 0.1 |
Net assets | 28,165 | 18,140 | 20,743 | 20,941 | 19,506 | 19,904 | 27,011 | 25,890 | 24,961 | 26,099 | 21,412 | 1.5 | -2.7 |
Working capital | –31 | –2,613 | –2,129 | –5,131 | –5,154 | –5,902 | –5,180 | –6,505 | –5,800 | -8,377 | -12,234 | ||
Trade receivables | 24,269 | 20,905 | 20,379 | 20,734 | 20,173 | 19,346 | 19,226 | 18,288 | 19,441 | 20,663 | 17,745 | -1.7 | -3.1 |
Inventories | 18,606 | 12,041 | 12,398 | 12,680 | 10,050 | 11,130 | 11,957 | 12,963 | 12,154 | 14,324 | 14,179 | 5.0 | -2.7 |
Accounts payable | 18,798 | 15,320 | 14,788 | 15,681 | 16,031 | 17,283 | 18,490 | 20,590 | 20,607 | 25,705 | 26,467 | 8.9 | 3.5 |
Equity | 25,888 | 13,194 | 16,040 | 16,385 | 18,841 | 20,613 | 20,644 | 15,726 | 14,308 | 16,468 | 15,005 | -6.2 | -5.3 |
Interest-bearing liabilities | 8,914 | 7,495 | 11,163 | 13,946 | 14,022 | 12,096 | 14,206 | 13,088 | 14,905 | 14,703 | 13,097 | 1.6 | 3.9 |
Provisions for post-employment benefits, net | 4,479 | 2,980 | 4,763 | 4,509 | |||||||||
Net borrowings | 2,974 | –304 | 4,703 | 4,556 | 665 | –709 | 6,367 | 10,164 | 10,653 | 9,631 | 6,407 | -255.3 | 8.0 |
Data per share | |||||||||||||
Income for the period, SEK | 6.05 | 9.17 | 10.41 | 1.29 | 9.18 | 14.04 | 7.25 | 8.26 | 2.35 | 7.83 | 5.45 | -17.2 | -1.0 |
Equity, SEK | 88 | 47 | 57 | 58 | 66 | 72 | 73 | 55 | 50 | 57.52 | 52.21 | -6.3 | -5.1 |
Dividend, SEK6) | 7.50 | 4.00 | 4.25 | — | 4.00 | 6.50 | 6.50 | 6.50 | 6.50 | 6.50 | 6.50 | ||
Trading price of B-shares at year-end, SEK | 206.50 | 137.00 | 108.50 | 66.75 | 167.50 | 191.00 | 109.70 | 170.50 | 168.50 | 228.80 | 205.20 | 1.4 | -0.1 |
Key ratios | |||||||||||||
Return on equity, % | 7.0 | 18.7 | 20.3 | 2.4 | 14.9 | 20.6 | 10.4 | 14.4 | 4.4 | 15.7 | 9.9 | ||
Return on net assets, % | 13.0 | 23.2 | 21.7 | 5.8 | 19.4 | 27.8 | 13.7 | 14.8 | 5.8 | 14.2 | 11.0 | ||
Net assets as % of net sales7) | 21.0 | 16.5 | 18.6 | 18.1 | 17.1 | 18.2 | 23.8 | 22.5 | 21.8 | 20.4 | 17.3 | ||
Trade receivables as % of net sales7) | 18.1 | 19.1 | 18.3 | 17.9 | 17.7 | 17.7 | 17.0 | 15.9 | 17.0 | 16.2 | 14.3 | ||
Inventories as % of net sales7) | 13.9 | 11.0 | 11.1 | 11.0 | 8.8 | 10.2 | 10.5 | 11.3 | 10.6 | 11.2 | 11.5 | ||
Net debt/equity ratio | 0.11 | –0.02 | 0.29 | 0.28 | 0.04 | –0.03 | 0.31 | 0.65 | 0.74 | 0.58 | 0.43 | ||
Interest coverage ratio | 4.32 | 6.13 | 7.49 | 1.86 | 7.54 | 12.64 | 5.84 | 2.72 | 2.11 | 5.16 | 3.75 | ||
Dividend as % of equity | 8.5 | 8.5 | 7.5 | — | 6.0 | 9.0 | 9.0 | 11.8 | 13.0 | 11.3 | 12.4 | ||
Other data | |||||||||||||
Average number of employees | 69,523 | 55,471 | 56,898 | 55,177 | 50,633 | 51,544 | 52,916 | 59,478 | 60,754 | 60,038 | 58,265 | 2.5 | -1.8 |
Salaries and remuneration | 17,033 | 12,849 | 12,612 | 12,662 | 13,162 | 12,678 | 13,137 | 13,785 | 13,521 | 14,278 | 15,858 | 4.6 | -0.7 |
Number of shareholders | 60,900 | 59,500 | 52,700 | 52,600 | 52,000 | 57,200 | 58,800 | 51,800 | 51,500 | 46,500 | 45,485 | -4.5 | -2.9 |
Average number of shares after buy-backs, million | 291.4 | 288.8 | 281.0 | 283.1 | 284.0 | 284.6 | 284.7 | 285.9 | 286.2 | 286.3 | 287.1 | ||
Shares at year end after buy-backs, million | 293.1 | 278.9 | 281.6 | 283.6 | 284.4 | 284.7 | 284.7 | 286.1 | 286.2 | 286.3 | 287.4 |
1) Including outdoor products, Husqvarna, which was distributed to the Electrolux shareholders in June 2006.
2) Amounts for 2012 have been restated where applicable as a consequence of the amended standard for pension accounting, IAS 19 Employee Benefits.
3) As of 2015 the accounting concept of Items affecting comparability is no longer in use.
4) Items affecting comparability are excluded for the years 2005 to 2013. 2014 has been restated.
5) Cash flow from acquisitions and divestments is excluded.
6) 2015: Proposed by the Board.
7) Net sales are annualized.