Net debt

As of March 31, 2024, Electrolux had a financial net debt (excluding lease liabilities and post-employment provisions) of SEK 24,938m, compared to the financial net debt of SEK 25,963m as of March 31, 2023 and SEK 20,871m as of December 31, 2023. Net provisions for post-employment benefits amounted to a deficit of SEK 370m and lease liabilities amounted to SEK 4,750m as of March 31, 2024. In total, net debt amounted to SEK 30,058m, an increase of SEK 3,832m compared to SEK 26,226m per December 31, 2023.

Long-term borrowings and long-term borrowings with maturities within 12 months amounted to a total of SEK 35,240m as of March 31, 2024, with an average maturity of 3.5 years, compared to SEK 33,276m and 3.5 years at the end of 2023.

In the first quarter, amortization of long-term borrowings amounted to SEK 1,002m and a total of SEK 2,208m of new long-term debt was issued. In February, Electrolux issued bonds of SEK 1,050m and NOK 1,150m respectively, all under the Electrolux Euro Medium Term Note (EMTN) program. During the remaining part of 2024, long-term borrowings amounting to approximately SEK 3,500m and commercial papers of SEK 250m, will mature.

Liquid funds as of March 31, 2024, amounted to SEK 14,424m, a decrease of SEK 1,245m compared to SEK 15,669m as of December 31, 2023. Total liquidity, including the revolving credit facilities, amounted to SEK 31,949m compared to SEK 32,765m as of December 31, 2023.

Net debt/EBITDA was 5.2 (5.1) and return on equity was -44.2% (-14.5),