Electrolux 1999 Annual Report Download - page 4

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2Electrolux Annual Report 1999
Operating income
Exclusive of items affecting comparability,
operating income improved by 22% to SEK
7,420m (6,064), corresponding to 6.2% (5.2)
of sales. Income after financial items improved
by 30% to SEK 6,358m (4,886), correspond-
ing to 5.3% (4.2) of sales. Earnings per share
increased by 29% to SEK 11.45 (8.85).
Return on equity rose to 17.2% (14.8).
Dividend
The Board proposes increasing the dividend for 1999 to SEK 3.50 per share.
Restructuring
The restructuring program that was started
in June 1997 was essentially completed
during the year. It has involved personnel
cutbacks totalling about 11,000 and the
shutdown of 23 plants and 50 warehouses.
Net sales by region
Europe 50.2%
Rest of the world 9.9%
North America 39.9%
98
99
Europe
North America 98
99
98
99
Rest of the world
Operating income by region
-200 20406080
74.0%
63.0%
41.9 %
44.3 %
-15.9%
-7.3%
1)
Employees by region
Europe 56.0%
North America 24.9%
Rest of the world 19.1%
Operating income by business area
67.0%
68.3%
11.9 %
10.3 %
29.5%
27.4%
98
99
Household Appliances
Professional Appliances 98
99
98
99
Outdoor Products
0 10203040506070
Highlights of the year
Net sales by business area
72.0%
72.8%
9.8%
9.2%
16.4%
17.8%
98
99
Household Appliances
Professional Appliances 98
99
98
99
Outdoor Products
0 10203040506070
Operating margin and ROE
6
5
4
3
2
1
0
90
Margin %
*Excl. items affecting comparability
Operating margin
Return on equity
18
15
12
9
6
3
0
9594939291 96 97* 98* 99*
ROE %
Restructuring program completed
No. of plants 150 -25 -23
No. of warehouses 300 -50 -50
No. of employees 101,800 –12,000 –11,000
EBIT margin 3.8% 6.5–7.0% 6.5%
ROE 6.3% >15% 17.2%
Q1 Target, Q4
97 approx. 99
1) See Note 2, page 37.