Electrolux 2005 Annual Report Download - page 27
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Please find page 27 of the 2005 Electrolux annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.Electrolux Annual Report 2005 23
Report by the Board of Directors for 2005
Contents
Page
Net sales and income 24
Consolidated income statement 25
Financial position 28
Consolidated balance sheet 29
Change in consolidated equity 31
Cash flow 32
Consolidated cash-flow statement 33
Business area Indoor Products 34
Business area Outdoor Products 38
Distribution of funds to shareholders 41
Spin-off of Outdoor Products 41
Other facts 43
Parent Company 46
Notes to the financial statements 48
Definitions 83
• Net sales increased by 7.3% to SEK 129,469m (120,651)
• Operating income declined to SEK 3,942m (4,807), adjusted for
items affecting comparability operating income increased by 2.9%
to SEK 6,962m (6,767)
• Strong performance for appliances in North America, operating
income and margin improved significantly
• Improved mix due to increased number of product launches
• Operating cash flow decreased to SEK 1,083m (3,224)
• Income for the period amounted to SEK 1,763m (3,259),
corresponding to SEK 6.05 (10.92) per share
• The Board proposes increasing the dividend to SEK 7.50 (7.00)
per share
• The Board proposes distribution of the Outdoor Products operation
to Electrolux shareholders under the name of Husqvarna AB
Key data 1)
SEKm 2005 Change 2004
Net sales 129,469 7% 120,651
Operating income 3,942 –18% 4,807
Margin, % 3.0 4.0
Operating income, excluding items affecting comparability 6,962 3% 6,767
Margin, % 5.4 5.6
Income after financial items 3,215 –28% 4,452
Income for the period 1,763 –46% 3,259
Earnings per share, SEK 2) 6.05 –45% 10.92
Dividend per share, SEK 7.50 3) 7.00
Return on equity, % 7.0 13.1
Return on net assets, % 13.0 17.5
Value creation 2,913 –141 3,054
Net debt/equity ratio 0.11 0.05
Operating cash flow 1,083 –66% 3,224
Capital expenditure 4,765 6% 4,515
Average number of employees 69,523 –4% 72,382
1) Including items affecting comparability, unless otherwise stated. For key data, excluding items affecting comparability, see page 27.
2) Before dilution, please see page 25 for information on earnings per share.
3) Proposed by the Board of Directors.
For definitions, see page 83.
Outlook for 2006 *)
Market demand for appliances in 2006 is expected to show
some growth in both Europe and North America as compared
to 2005. Efforts to strengthen the Group’s competitive position
through investments in product development and in building
the Electrolux brand will continue.
Operating income for the Electrolux Indoor operations in 2006
is expected to be somewhat higher than in 2005, excluding
items affecting comparability.
*) Electrolux has previously not published any outlook for 2006.