Electrolux 2002 Annual Report Download - page 25

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    
K 1)
SEKm, unless otherwise stated 2002 Change 2001 Change 2000
Net sales 133,150 –2.0% 135,803 9.1% 124,493
Operating income 7,731 23% 6,281 –17% 7,602
Margin, % 5.8 4.6 6.1
Operating income excluding items
affecting comparability 8,165 27% 6,422 –20% 8,050
Margin, % 6.1 4.7 6.5
Income after financial items 7,545 45% 5,215 –20% 6,530
Net income per share, SEK 15.60 37% 11.35 –8.5% 12.40
Dividend per share, SEK 6.002) 33% 4.50 13% 4.00
Return on equity, % 17.2 13.2 17.0
Return on net assets, % 22.1 15.0 19.6
Value creation 3,461 3,199 262 –2,161 2,423
Net debt/equity ratio 0.05 0.37 0.63
Operating cash flow 7,665 31% 5,834 129% 2,552
Capital expenditure 3,335 –21% 4,195 –5.2% 4,423
Average number of employees 81,971 –5.9% 87,139 0.0% 87,128
1) Including items affecting comparability, unless otherwise stated. Key data excluding items affecting comparability, see page 27.
2) Proposed by the Board of Directors.
For definitions, see page 65.
Operating margin, %
02010099989796959493
Net sales, SEKm
0
1.5
3.0
4.5
6.0
7.5
9.0
SEKm %
0
25,000
50,000
75,000
100,000
125,000
150,000
Operating margin improved to 5.8% from 4.6% in
the previous year.
Operating income increased by 23% and return on
net assets improved to 22.1% from 15.0% in 2001.
Income after financial items rose by 45% and return
on equity improved to 17.2% from 13.2% in 2001.
Net sales and operating margin
Operating income and
return on net assets Income after financial items
and return on equity
• Positive trend in demand in the US, Asia and Australia, generally
weak market conditions in Western Europe
• Operating income rose by 27% to SEK 8,165m, excluding items
affecting comparability, margin improved to 6.1%
• Major part of improvement in Group operating income refers to
Consumer Durables in North America
• Consumer Durables in Europe continues to show higher income
and margin
• Marked decline in income for Consumer Durables in Rest of
the world
• Strong improvement in operating cash flow and net debt/equity
ratio
• Restructuring measures announced in fourth quarter, referring
mainly to appliances outside Europe and compressors
C Page
Net sales and income 24
Consolidated income
statement 25
Financial position 30
Consolidated balance
sheet 31
Cash flow 32
Consolidated cash flow
statement 33
Financial risk management 34
Other facts 36
Parent Company income
statement, cash flow
statement and balance sheet 39
Notes to the financial
statements 40
Report by the Board of Directors for 2002
Return on net assets, %
02010099989796959493
Operating income, SEKm
0
4
8
12
16
20
24
SEKm %
1,500
3,000
4,500
6,000
7,500
9,000
0
Return on equity, %
02010099989796959493
Income after financial items, SEKm
0
4
8
12
16
20
24
SEKm %
1,500
3,000
4,500
6,000
7,500
9,000
0