Electrolux 2001 Annual Report Download - page 38

34 ELECTROLUX ANNUAL REPORT 2001
Sales and income
Net sales
Net sales for the Electrolux Group in
2001 rose to SEK 135,803m, as against
SEK 124,493m in the previous year, of
which 97% (96) or SEK 131,285m
(120,029) was outside Sweden. Of the
9.1% increase in sales, changes in the
Group’s structure accounted for +2.4%,
changes in exchange rates for +9.1%, and
volume/price/mix for –2.4%. For changes
in Group structure, see page 38.
Income
The Group’s operating income for 2001
decreased by 17.4% to SEK 6,281m
(7,602), which corresponds to 4.6% (6.1)
of net sales. Income after financial items
decreased by 20.1% to SEK 5,215m
(6,530), representing 3.8% (5.2) of net
sales. Net income decreased by 13.2% to
SEK 3,870m (4,457), corresponding to
SEK 11.35 (12.40) per share.
Income excluding items
affecting comparability
The above income figures include items
affecting comparability in the amount of
SEK –141m (–448), see page 35.
Excluding these items, operating in-
come decreased by 20.2% to SEK 6,422m
(8,050), representing 4.7% (6.5) of net
sales. Income after financial items declined
by 23.2% to SEK 5,356m (6,978), corre-
sponding to 3.9% (5.6) of net sales. Net
income decreased by 20.7% to SEK
3,774m (4,762), and net income per share
decreased by 16.2% to SEK 11.10 (13.25).
Report by the Board of Directors for 2001
95 96 97 98 99 00 01 92 93 94
SEKm
Sweden
Outside Sweden
0
25,000
50,000
75,000
100,000
125,000
150,000
Net sales rose by 9% from previous year.
0
1,500
3,000
4,500
6,000
7,500
9,000
Operating income, SEKm
Return on net assets, %
%
SEKm
0
4
8
12
16
20
24
95 96 97 98 99 00 01 92 93 94
Operating income declined by 17% and return on
net assets decreased to 15%.
0
1,250
2,500
3,750
5,000
6,250
7,500
Income after financial items, SEKm
Return on equity, %
%
SEKm
0
4
8
12
16
20
24
95 96 97 98 99 00 01 92 93 94
Return on equity in 2001 was 13.2%.
Net sales
Operating income and
return on net assets
Income after financial items
and return on equity
Key data, SEKm
unless otherwise stated 2001 Change 2000 1999
Net sales 135,803 9.1% 124,493 119,550
Operating income 6,281 –17.4% 7,602 7,204
Margin, % 4.6 6.1 6.0
Income after financial items 5,215 –20.1% 6,530 6,142
Net income 3,870 –13.2% 4,457 4,175
Net income per share, SEK 11.35 –8.5% 12.40 11.40
Dividend per share, SEK2) 4.50 12.5% 4.00 3.50
Return on equity, % 13.2 17.0 17.1
Return on net assets, % 15.0 19.6 18.3
Net debt/equity ratio 0.37 0.63 0.50
Capital expenditure 4,195 4,423 4,439
Average number of employees 87,139 0.0% 87,128 92,916
Excluding items affecting comparability1) 2001 Change 2000 1999
Net sales 135,803 9.1% 124,493 119,550
Operating income 6,422 –20.2% 8,050 7,420
Margin, % 4.7 6.5 6.2
Income after financial items 5,356 –23.2% 6,978 6,358
Net income 3,774 –20.7% 4,762 4,200
Net income per share, SEK 11.10 –16.2% 13.25 11.45
Dividend per share, SEK2) 4.50 12.5% 4.00 3.50
Return on equity, % 12.9 18.5 17.2
Return on net assets, % 14.6 20.0 18.4
Value creation 262 –2,161 2,423 1,782
Net debt/equity ratio 0.37 0.63 0.50
Capital expenditure 4,195 4,423 4,439
Average number of employees 87,139 0.0% 87,128 92,916
1)For information on items affecting comparability, see page 35.
2)Proposed by the Board.
Net sales and
operating income, Net sales Operating income
by geographical area, SEKm 2001 2000 1999 2001 2000 1999
Europe 63,455 58,169 60,016 4,401 4,353 4,677
North America 52,907 52,906 47,675 2,162 3,884 3,290
Rest of the world 19,441 13,418 11,859 –141 –187 –547
Items affecting comparability — — — –141 –448 –216
Total 135,803 124,493 119,550 6,281 7,602 7,204