Electrolux 2000 Annual Report Download - page 62

60 ELECTROLUX ANNUAL REPORT 2000
Eleven-year review
Capital indicators
Net assets
Total assets exclusive of liquid funds,
interest-bearing financial receivables, as
well as non-interest-bearing liabilities
and provisions.
Adjusted equity
Equity, including minority interests.
Working capital
Net assets less fixed assets.
Net income per share
Net income per share
Net income divided by the average num-
ber of shares after buy-backs.
Net income per share according
to US GAAP
See information on US GAAP in Note
27.All computations have been adjusted
for full dilution, stock splits, bonus issues
and new issues. In connection with new
issues, the number of shares is computed as
the average number of shares for the year.
Other key ratios
In computation of key ratios where
capital is related to net sales, the latter are
annualized and converted at year-end
exchange rates, so that due consideration
is given to changes in exchange rates and
Group structure.
EBITDA margin
Earnings before interest, tax, depreciation
and amortization expressed as a percent-
age of net sales.
Amounts in SEKm unless otherwise stated 2000 1999 1998 1997 1996 1995
Net sales and income
Net sales 124,493 119,550 117,524 113,000 110,000 115,800
Depreciation 3,810 3,905 4,125 4,255 4,438 4,407
Items affecting comparability –448 –216 964 –1,896
Operating income1) 7,602 7,204 7,028 2,654 4,448 5,311
Income after financial items1) 6,530 6,142 5,850 1,232 3,250 4,016
Net income1) 4,457 4,175 3,975 352 1,850 2,748
Margins2)
EBITDA margin, % 9.5 9.5 8.7 7.8 8.1 8.4
Operating margin, % 6.5 6.2 5.2 4.0 4.0 4.6
Income after financial items as % of net sales 5.6 5.3 4.2 2.8 3.0 3.5
Financial position
Total assets 87,289 81,644 83,289 79,640 85,169 83,156
Net assets3) 39,026 36,121 39,986 38,740 41,306 37,293
Working capital 9,346 8,070 12,101 10,960 12,360 10,757
Accounts receivable 23,214 21,513 21,859 21,184 20,494 19,602
Inventories 17,295 16,549 17,325 16,454 17,334 18,359
Accounts payable 12,975 11,132 10,476 9,879 9,422 10,027
Equity 26,324 25,781 24,480 20,565 22,428 21,304
Interest-bearing liabilities 25,398 23,735 29,353 29,993 32,954 31,750
Data per share, SEK4) 11)
Net income1) 12.40 11.40 10.85 0.95 5.05 7.50
Net income according to US GAAP5) 13.55 11.05 10.25 2.40 4.55 7.95
Equity 77 70 67 56 61 58
Dividend, adjusted for share issues6) 4.00 3.50 3.00 2.50 2.50 2.50
Trading price of B-shares at year-end8) 122.50 214.00 139.50 110.20 79.20 54.50
Key ratios
Value creation 2,423 1,782 437
Return on equity, %1) 17.3 17.1 19.3 1.6 8.7 13.4
Return on net assets, %1) 3) 19.6 18.3 17.5 6.4 10.9 13.2
Net assets as % of net sales3) 7) 9) 30.4 30.6 33.3 34.0 36.9 34.2
Accounts receivable as % of net sales7) 9) 18.1 18.2 18.2 18.6 18.3 18.0
Inventories as % of net sales7) 9) 13.5 14.0 14.4 14.4 15.5 16.8
Net debt/equity ratio3) 0.63 0.50 0.71 0.94 0.80 0.80
Interest coverage ratio 4.34 4.55 3.46 1.42 2.26 2.77
Dividend as % of equity6) 5.2 5.0 4.5 4.4 4.1 4.3
Capital expenditure
Gross capital expenditure in tangible assets10) 4,567 4,465 4,053 4,450 7,088 5,238
Gross capital expenditure in tangible assets exclusive
of opening value in acquisitions during the year10) 4,423 4,439 3,756 4,329 4,807 5,115
Capital expenditure as % of net sales 3.6 3.7 3.2 3.8 4.4 4.4
Other data
Average number of employees 87,128 92,916 99,322 105,950 112,140 112,300
Salaries and remuneration 17,241 17,812 18,506 19,883 20,249 20,788
Number of shareholders 61,400 52,600 50,500 45,660 48,300 54,600
Definitions