Net debt

As of June 30, 2022, Electrolux had a financial net debt (excluding lease liabilities and post-employment provisions) of SEK 14,064m, 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 1,687m and lease liabilities amounted to SEK 3,535m as of June 30, 2022. In total, net debt amounted to SEK 15,912m, an increase by SEK 7,321m 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 21,785m as of June 30, 2022, with an average maturity of 4.4 years, compared to SEK 14,392m and 1.9 years at the end of 2021.

In the second quarter, amortization of long-term borrowings amounted to SEK 1,315m. In May 2022, Electrolux issued a bond of EUR 500m and in June a bond of SEK 1,000m 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 1,950m will mature.

Liquid funds as of June 30, 2022, amounted to SEK 12,659m, an increase of SEK 1,423m compared to SEK 11,236m as of December 31, 2021. In the second quarter 2022, SEK 539m was used for repurchases of shares of series B.

Net debt/EBITDA was 1.7 (0.1) and return on equity was 12.7% (29.5).