Electrolux 2000 Annual Report Download - page 30

28 ELECTROLUX ANNUAL REPORT 2000
Report by the Board of Directors for 2000
95 96 97 98 99 0091 92 93 94
SEKm
Sweden
Outside Sweden
0
25,000
50,000
75,000
100,000
125,000
150,000
Net sales rose by 4% in 2000 for comparable units,
after adjustment for exchange-rate effects.
Net sales
0
1,500
3,000
4,500
6,000
7,500
9,000
95 96 97 98 99 0091 92 93 94
Operating income, SEKm
Return on net assets, %
%
SEKm
0
4
8
12
16
20
24
Operating margin in 2000 improved to 6.1%, or 6.5%
excluding items affecting comparability.
Operating income and
return on net assets
0
1,250
2,500
3,750
5,000
6,250
7,500
94 96 97 0091 92 93
Income after financial items, SEKm
Return on equity, %
%
95 98 99
SEKm
0
4
8
12
16
20
24
Return on equity in 2000 was 17.3%, or 18.5%
excluding items affecting comparability.
Income after financial items
and return on equity
SALES AND INCOME
NET SALES
Net sales for the Electrolux Group in
2000 rose to SEK 124,493m, as against
SEK 119,550m in the previous year, of
which 96% (96) or SEK 120,029m
(115,127) was outside Sweden. Of the
4.1% increase in sales, changes in the
Group’s structure accounted for –3.2%,
changes in exchange rates for +3.6%,
and volume/ price/ mix for +3.7%. For
changes in Group structure, see page 33.
INCOME
The Group’s operating income for 2000
increased by 5.5% to SEK 7,602m
(7,204), which corresponds to 6.1% (6.0)
of net sales. Operating income in 2000
includes items affecting comparability in
the amount of SEK –448m (–216). Ex-
clusive of these items, operating income
improved by 8.5% to SEK 8,050m
(7,420), corresponding to 6.5% (6.2) of
net sales.
Income after financial items increased
by 6.3% to SEK 6,530m (6,142), which
corresponds to 5.2% (5.1) of net sales.
Exclusive of items affecting comparability,
income after financial items improved by
9.8% to SEK 6,978m (6,358), correspond-
ing to 5.6% (5.3) of net sales.
Net income rose in 2000 by 6.8% to
SEK 4,457m (4,175), corresponding to
SEK 12.40 (11.40) per share. Excluding
items affecting comparability, net income
increased by 13.4% to SEK 4,762m
(4,200), and net income per share rose by
15.7% to SEK 13.25 (11.45).
2000 excl. 1999 excl.
items affecting items affecting
Key data, SEKm 2000 1999 comparability1) comparability1) Change
Net sales 124,493 119,550 124,493 119,550 4%
Operating income 7,602 7,204 8,050 7,420 8%
Margin, % 6.1 6.0 6.5 6.2
Income after financial items 6,530 6,142 6,978 6,358 10%
Net income 4,457 4,175 4,762 4,200 13%
Net income per share, SEK 12.40 11.40 13.25 11.45 16%
Dividend per share, SEK 4.002) 3.50 4.002) 3.50 14%
Return on equity, % 17.3 17.1 18.5 17.2
Return on net assets, % 19.6 18.3 20.0 18.4
Value creation ——2,423 1,782 641
Net debt/equity ratio 0.63 0.50 0.63 0.50
Capital expenditure 4,423 4,439 4,423 4,439
Average number of employees 87,128 92,916 87,128 92,916 –6%
1) For information on items affecting comparability, see page 29.
2) Proposed by the Board.
Net sales and operating income, Net sales Operating income
by geographical area, SEKm 2000 1999 2000 1999
Europe 58,169 60,016 4,353 4,677
North America 52,906 47,675 3,884 3,290
Rest of the world 13,418 11,859 –187 –547
Items affecting comparability ——–448 –216
Total 124,493 119,550 7,602 7,204
Net sales and operating Net sales Operating income
income, SEKm 2000 1999 2000 Margin,% 1999 Margin,%
Consumer Durables
Europe 42,704 42,640 2,179 5.1 2,444 5.7
North America 46,581 41,452 3,577 7.7 2,895 7.0
Rest of the world 9,203 7,597 23 0.2 –342 –4.5
Total Consumer Durables 98,488 91,689 5,779 5.9 4,997 5.4
Professional Products
Indoor 17,561 20,450 1,577 9.0 1,902 9.3
Outdoor 8,039 7,100 1,153 14.3 983 13.8
Total Professional Products 25,600 27,550 2,730 10.7 2,885 10.5
Common Group costs, etc. 405 311 –459 –462
Items affecting comparability –448 –216
Total 124,493 119,550 7,602 6.1 7,204 6.0