As of March 31, 2021, Electrolux had a financial net cash position (excluding lease liabilities and post-employment provisions) of SEK 3,907m, compared to the financial net cash position of SEK 4,741m as of December 31, 2020. Net provisions for post-employment benefits was SEK 2,134m and lease liabilities amounted to SEK 2,619m as of March 31, 2021. In total, net debt amounted to SEK 847m, a decrease by SEK 709m compared to SEK 1,556m per December 31, 2020.
Long-term borrowings and long-term borrowings with maturities within 12 months amounted to a total of SEK 14,500m as of March 31, 2021 with average maturity of 2.6 years, compared to SEK 14,400m and 2.8 years at the end of 2020.
In the first quarter, long-term borrowings in the amount of SEK 78m were amortized. During the remaining part of 2021, long-term borrowings amounting to approximately SEK 0.2bn will mature.
Liquid funds as of March 31, 2021, amounted to SEK 19,389m, a decrease of SEK 1,078m compared to SEK 20,467m as of December 31, 2020.
Return on equity was 32.4% (48.9). The corresponding quarter last year was impacted by a settlement gain from the distribution of Electrolux Professional. Adjusted for the settlement gain, return on equity was 2.5% in the first quarter of 2020.