Electrolux 1996 Annual Report Download - page 15

Download and view the complete annual report

Please find page 15 of the 1996 Electrolux annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 66

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66

Household Appliances
•
Continued investment in new markets
and upgrading of product range
•
Acquisition of majority stake in
Brazil’s second largest white-goods
company
•
Increased demand in US, but weaker
European market
•
Income for white goods improves
somewhat on basis of good perform-
ance in Brazil and substantial im-
provement in North America
Electrolux is one of the world’s largest
producers of white goods.The Group is
the market leader in Europe and the third
largest white-goods company in the US.
White goods account for the greater part
of sales in the Household Appliances busi-
ness area, and for approximately half of
total Group sales.
Electrolux is also the world’s largest
producer of floor-care products, absorp-
tion refrigerators for caravans and hotel
rooms, and compressors for refrigerators
and freezers.
White goods
Approximately 60% of sales in 1996 refer
to Europe and approximately 25% to North
America. The newly acquired Brazilian
white-goods company Refripar is included
in the accounts as of February, with sales
of SEK 4,463m.
Operating income for white goods
rose somewhat over 1995, on the basis of a
profit contribution from Refripar and sub-
stantially improved income in the North
American operation. Profitability was still
not satisfactory, however.
11
Electrolux Annual Report 1996
Key data 1996 1995 1994 1993 1992
Sales, SEKm 73,539 75,209 66,272 58,888 48,902
Operating income after depreciation, SEKm 2,455 2,555 2,493 785 897
Operating margin, %1) 3.3 3.4 3.8 1.3 1.8
Net assets, SEKm1) 28,743 24,484 23,553 24,972 21,186
Return on net assets, %1) 8.6 9.8 9.9 3.1 4.0
Capital expenditure, SEKm 3,633 3,579 2,772 2,394 2,414
Average number of employees 85,576 83,492 77,806 76,970 81,300
1) For a definition of this item, see page 48 1996 1995
Sales by product line SEKm % SEKm %
White goods1) 54,725 74.4 56,251 74.8
Floor-care products 7,533 10.2 8,047 10.7
Components2) 3,987 5.4 3,742 5.0
Leisure appliances 3,052 4.2 2,983 4.0
Kitchen and bathroom cabinets 1,833 2.5 1,775 2.4
Sewing machines 858 1.2 856 1.1
Other 1,551 2.1 1,555 2.0
Total 73,539 100.0 75,209 100.0
1) Including room air-conditioners
2) The compressors product line is now called components, having been combined with the operation in small
electric motors in FHP. Sales of SEK339m for the motor operation are included in 1996.
Sales, SEKm
66.9%
Share of total Group sales
9692 93 94 95
Operating income after depreciation, SEKm
96
92 93 94 95
0
15,000
30,000
45,000
60,000
75,000
0
500
1,000
1,500
2,000
2,500
1. The latest product range – “Bluprint”, in blue-grey
steel, with wooden handles.
2. AEG’s Öko Vampyr “Rosso” vacuum cleaner.
3. The new “Creation”oven consumes substantially
less energy than previous models.
4. The “Rondo” refrigerator features arched doors
and was launched in 1996.
5. Frigidaire’s new water-efficient dishwashers
feature lower noise levels than comparable US-made
products.
6. “Clario”, a new light-weight vacuum cleaner
with powerful suction.
The Group has developed a new series of fans that
offer powerful ventilation and the lowest noise levels
on the market.