Net sales for the Electrolux Group in 2015 amounted to SEK 123,511m (112,143). The organic sales growth was 2.2%. Major Appliances North America, Major Appliances EMEA and Professional Products reported organic sales growth. The product mix improved and prices increased in several regions, while sales volumes declined. 2015 was a year with a strong focus on the most profitable products and sales channels, which improved the mix. Acquisitions had an impact on sales by 0.1%.
Operating income for 2015 amounted to SEK 2,741m (3,581), corresponding to a margin of 2.2% (3.2). Operating income includes costs of SEK 2,059m related to the not completed acquisition of GE Appliances, excluding these costs the margin was 3.9% (3.2).
Operating income for Major Appliances EMEA contributed strongly to the results for 2015. Professional Products also reported a positive development, while operating income for the other business areas declined. Soft market demand particularly in emerging markets such as Latin America and severe currency headwinds had a negative impact on operating income for 2015.
Changes in exchange rates had a negative impact year-over-year on operating income of SEK –1,418m. Operations in Latin America, Asia/Pacific and Europe were mainly impacted by a stronger USD against local currencies. The negative impact on operating income was to a large extent mitigated by price increases and mix improvements.
Net financial items increased to SEK –640m (–584). Financial items includes costs of SEK 187m for a bridge facility related to the not completed acquisition of GE Appliances.
Income after financial items decreased to SEK 2,101m (2,997), corresponding to 1.7% (2.7) of net sales.
Total taxes for 2015 amounted to SEK –533m (–755), corresponding to a tax rate of 25.4% (25.2).
Income for the period amounted to SEK 1,568m (2,242), corresponding to SEK 5.45 (7.83) in earnings per share before dilution.