Net debt

As of September 30, 2021, Electrolux had a financial net cash position (excluding lease liabilities and post-employment provisions) of SEK 2,633m, compared to the financial net cash position of SEK 4,741m as of December 31, 2020. Net provisions for post-employment benefits were SEK 1,950m and lease liabilities amounted to SEK 2,577m as of September 30, 2021. In total, net debt amounted to SEK 1,894m, an increase by SEK 338m compared to SEK 1,556m per December 31, 2020.

Long-term borrowings and long-term borrowings with maturities within 12 months amounted to a total of SEK 14,377m as of September 30, 2021 with average maturity of 2.1 years, compared to SEK 14,400m and 2.8 years at the end of 2020.

In the third quarter, amortization of long-term borrowings amounted to SEK 2m. During the remaining part of 2021, long-term borrowings amounting to approximately SEK 0.1bn will mature.

Liquid funds as of September 30, 2021, amounted to SEK 18,280m, a decrease of SEK 2,187m compared to SEK 20,467m as of December 31, 2020. In the fourth quarter 2021, SEK 4,886m will be distributed to shareholders upon completion of the automatic share redemption.

For the first nine months, return on equity was 28.1% (32.3). The comparative nine months of 2020 was impacted by a settlement gain from the distribution of Electrolux Professional, see Note 5. Adjusted for the settlement gain, return on equity was 16.0% for the first nine months of 2020.