As of December 31, 2025, Electrolux had a financial net debt (excluding lease liabilities and post-employment provisions) of SEK 24,593m, compared to the financial net debt of SEK 22,706m as of December 31, 2024 and SEK 28,291m as of September 30, 2025. The increase in 2025 was mainly driven by negative cash flow.
Net provisions for post-employment benefits amounted to a surplus of SEK 79m and lease liabilities amounted to SEK 3,662m as of December 31, 2025. In total, net debt amounted to SEK 28,176m, an increase of SEK 323m compared to SEK 27,853m as of December 31, 2024 and a decrease of SEK 4,386m compared to September 30, 2025.
Long-term borrowings and long-term borrowings with maturities within 12 months, amounted to a total of SEK 36,545m as of December 31, 2025, with an average maturity of 3.0 years, compared to SEK 36,601m and 3.3 years at the end of 2024, and SEK 36,926m and 3.0 years at the end of September 2025.
In the fourth quarter, amortization of long-term borrowings amounted to SEK 1,973m, and a total of SEK 2,180m of new long-term debt was issued in November when Electrolux fully utilized the loan facility with the European Investment Bank, signed in December 2024, borrowing USD 230m. During 2026, long-term borrowings amounting to approximately SEK 5,460m, will mature.
Liquid funds as of December 31, 2025, amounted to SEK 15,895m, a decrease of SEK 697m compared to SEK 16,592m as of December 31, 2024 and an increase of SEK 3,512m compared to SEK 12,383m at the end of September 2025. Total liquidity, including the revolving credit facilities, amounted to SEK 32,713m compared to SEK 34,079m as of December 31, 2024. The decrease in total liquidity 2025 was mainly driven by negative development in both operating working capital and other working capital. In December, one of the SEK 3,000m revolving credit facilities was extended to 2027.
Net debt/EBITDA was 3.0 (3.4) and return on equity was 10.1% (-13.6).
Long-term borrowings, by maturity
(As per December 31, 2025)