Electrolux 2001 Annual Report Download - page 72

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68 ELECTROLUX ANNUAL REPORT 2001
Eleven-year review
Amounts in SEKm unless otherwise stated
2001 2000 1999 1998 1997 1996
Net sales and income
Net sales 135,803 124,493 119,550 117,524 113,000 110,000
Depreciation 4,277 3,810 3,905 4,125 4,255 4,438
Items affecting comparability –141 –448 –216 964 –1,896
Operating income1) 6,281 7,602 7,204 7,028 2,654 4,448
Income after financial items1) 5,215 6,530 6,142 5,850 1,232 3,250
Net income1) 3,870 4,457 4,175 3,975 352 1,850
Cash flow
EBITDA3) 10,699 11,860 11,325 10,189 8,805 8,886
Net income excluding non-cash items 5,848 8,639 7,595 5,754 4,718 6,174
Changes in operating assets and liabilities 3,634 –2,540 1,065 –1,056 584 –2,198
Cash flow from operations 9,482 6,099 8,660 4,698 5,302 3,976
Cash flow from investments 1,213 –3,367 –3,137 –776 –4,344 –4,767
of which capital expenditures2) –4,195 –4,423 –4,439 –3,756 –4,329 –4,807
Cash flow from operations and investments 10,695 2,732 5,523 3,922 958 –791
Dividends and repurchase of shares –3,117 –4,475 –1,099 –915 –915 –915
Margins3)
Operating margin, % 4.7 6.5 6.2 5.2 4.0 4.0
Income after financial items as % of net sales 3.9 5.6 5.3 4.2 2.8 3.0
EBITDA margin, % 7.9 9.5 9.5 8.7 7.8 8.1
Capital expenditure as % of net sales 3.1 3.6 3.7 3.2 3.8 4.4
Financial position
Total assets 94,447 87,289 81,644 83,289 79,640 85,169
Net assets4) 37,162 39,026 36,121 39,986 38,740 41,306
Working capital 4,811 9,346 8,070 12,101 10,960 12,360
Accounts receivable 24,189 23,214 21,513 21,859 21,184 20,494
Inventories 17,359 17,295 16,549 17,325 16,454 17,334
Accounts payable 17,304 12,975 11,132 10,476 9,879 9,422
Equity 28,864 26,324 25,781 24,480 20,565 22,428
Interest-bearing liabilities 23,183 25,398 23,735 29,353 29,993 32,954
Data per share, SEK5) 6)
Net income1) 11.35 12.40 11.40 10.85 0.95 5.05
Net income according to US GAAP7) 10.85 13.55 11.05 10.25 2.40 4.55
Equity 88 77 70 67 56 61
Dividend, adjusted for share issues8) 4.50 4.00 3.50 3.00 2.50 2.50
Trading price of B-shares at year-end10) 156.50 122.50 214.00 139.50 110.20 79.20
Key ratios
Value creation 262 2,423 1,782 437
Return on equity, %1) 13.2 17.0 17.1 18.2 1.7 8.5
Return on net assets, %1) 4) 15.0 19.6 18.3 17.5 6.4 10.9
Net assets as % of net sales4) 9) 11) 27.4 30.4 30.6 33.3 34.0 36.9
Accounts receivable as % of net sales9) 11) 17.8 18.1 18.2 18.2 18.6 18.3
Inventories as % of net sales9) 11) 12.8 13.5 14.0 14.4 14.4 15.5
Net debt/equity ratio4) 0.37 0.63 0.50 0.71 0.94 0.80
Interest coverage ratio 3.80 4.34 4.55 3.46 1.42 2.26
Dividend as % of equity8) 5.1 5.2 5.0 4.5 4.4 4.1
Other data
Average number of employees 87,139 87,128 92,916 99,322 105,950 112,140
Salaries and remuneration 20,330 17,241 17,812 18,506 19,883 20,249
Number of shareholders 58,600 61,400 52,600 50,500 45,660 48,300
Additional information can be found on the Investor Relations’ website, www.electrolux.com/ir