Net debt

As of December 31, 2023, Electrolux had a financial net debt (excluding lease liabilities and post-employment provisions) of SEK 20,871m, compared to the financial net debt of SEK 19,828m as of December 31, 2022. Net provisions for post-employment benefits amounted to a deficit of SEK 670m and lease liabilities amounted to SEK 4,685m as of December 31, 2023. In total, net debt amounted to SEK 26,226m, an increase of SEK 2,378m compared to SEK 23,848m per December 31, 2022.

Long-term borrowings and long-term borrowings with maturities within 12 months amounted to a total of
SEK 33,276m as of December 31, 2023, with an average maturity of 3.5 years, compared to SEK 31,343m and 4.0 years at the end of 2022.

In the fourth quarter, amortization of long-term borrowings amounted to SEK 73m, and no new long-term debt of significance was issued. In November, the maturity date of the EUR 1,000m multi-currency revolving credit facility was extended with one year, new expiry 2028. In December, Electrolux signed an increase and extension of the bilateral SEK 2,500m credit facility. New facility amount, SEK 3,000m and new expiry, 2025. During 2024, long-term borrowings amounting to approximately SEK 4,500m will mature.

Liquid funds as of December 31, 2023, amounted to SEK 15,669m, a decrease of SEK 2,131m compared to SEK 17,800m as of December 31, 2022. Total liquidity, including the revolving credit facilities, amounted to SEK 32,765m compared to SEK 34,422m as of December 31, 2022.

Net debt/EBITDA was 3.9 (3.8) and return on equity was -33.7% (-7.0).