Net debt

As of September 30, 2023, Electrolux had a financial net debt (excluding lease liabilities and post-employment provisions) of SEK 23,870m, 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 621m and lease liabilities amounted to SEK 4,898m as of September 30, 2023. In total, net debt amounted to SEK 29,389m, an increase of SEK 5,541m 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 34,076m as of September 30, 2023, with an average maturity of 3.8 years, compared to SEK 31,343m and 4.0 years at the end of 2022.

In the third quarter, no long-term debt of significance was amortized. In September, Electrolux issued bonds of SEK 1,250m and a bond of EUR 300m, all under the Electrolux Euro Medium Term Note (EMTN) program. During the remaining part of 2023, long-term borrowings amounting to approximately SEK 63m and commercial papers of SEK 2,000m will mature.

Liquid funds as of September 30, 2023, amounted to SEK 16,673m, a decrease of SEK 1,127m compared to SEK 17,800m as of December 31, 2022. Total liquidity, including the revolving credit facilities, amounted to SEK 33,706m compared to SEK 34,422m as of December 31, 2022.

Net debt/EBITDA was 4.4 (2.6) and return on equity was -9.0% (4.2).