Net debt

As of September 30, 2022, Electrolux had a financial net debt (excluding lease liabilities and post-employment provisions) of SEK 17,966m, compared to the financial net debt of SEK 4,645m as of December 31, 2021. Net provisions for post-employment benefits amount to a surplus of SEK 1,297m and lease liabilities amounted to SEK 4,399m as of September 30, 2022. In total, net debt amounted to SEK 21,068m, an increase by SEK 12,477m compared to SEK 8,591m per December 31, 2021.

Long-term borrowings and long-term borrowings with maturities within 12 months amounted to a total of SEK 22,175m as of September 30, 2022, with an average maturity of 4.1 years, compared to SEK 14,392m and 1.9 years at the end of 2021.
No long-term debt of significance was issued or amortized during the third quarter. However, in early October, a bond of EUR 500m was issued under the Electrolux Euro Medium Term Note (EMTN) program. During the remaining part of 2022, long-term borrowings amounting to approximately SEK 60m and commercial papers of SEK 2,200m will mature.

Liquid funds as of September 30, 2022, amounted to SEK 9,955m, a decrease of SEK 1,281m compared to SEK 11,236m as of December 31, 2021. In the third quarter 2022, SEK 599m was used for repurchases of shares of series B.

Net debt/EBITDA was 2.6 (0.1) and return on equity was 4.2% (28.1).