Electrolux 2005 Annual Report Download - page 90
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Amounts in SEKm, unless otherwise stated.
2005 2004
Net sales and income
Net sales 129,469 120,651
Organic growth, % 4.3 3.2
Depreciation and amortization 3,410 3,038
Items affecting comparability –3,020 –1,960
Operating income 3,942 4,807
Income after financial items 3,215 4,452
Income for the period 1,763 3,259
Cash flow
EBITDA
1) 10,372 9,805
Cash flow from operations,
excluding change in operating assets and liabilities 8,428 7,140
Changes in operating assets and liabilities –1,888 1,442
Cash flow from operations 6,540 8,582
Cash flow from investments of which –5,827 –5,358
capital expenditures –4,765 –4,515
Cash flow from operations and investments 713 3,224
Operating cash flow 1,083 3,224
Dividends and repurchase of shares –2,038 –5,147
Capital expenditure as % of net sales 3.7 3.7
Margins
1)
Operating margin, % 5.4 5.6
Income after financial items as % of net sales 4.8 5.3
EBITDA margin, % 8.0 8.1
Financial position
Total assets 82,558 75,096
Net assets 28,165 23,988
Working capital –31 –383
Trade receivable 24,269 20,627
Inventories 18,606 15,742
Accounts payable 18,798 16,550
Equity 25,888 23,636
Interest-bearing liabilities 8,914 9,843
Data per share, SEK 2) 3)
Earnings per share 6.05 10.92
Earnings per share according to US GAAP 5.06 9.35
Equity 88 81
Dividend 7.50
4) 7.00
Trading price of B-shares at year-end 206.50 152.00
Key ratios
Value creation 2,913 3,054
Return on equity, % 7.0 13.1
Return on net assets, % 13.0 17.5
Net assets as % of net sales 5) 21.0 21.2
Accounts receivable as % of net sales 5) 18.1 18.2
Inventories as % of net sales 5) 13.9 13.9
Net debt/equity ratio 0.11 0.05
Interest coverage ratio 4.32 5.75
Dividend as % of equity 4) 8.5 8.6
Other data
Average number of employees 69,523 72,382
Salaries and remuneration 17,033 17,014
Number of shareholders 60,900 63,800
Additional information can be found on the Investor Relations’ website, www.electrolux.com/ir
Eleven-year review
Key ratios for 2005 are reported according to IFRS. Figures for 2004
are restated to comply with IFRS, except for IAS 39. If IAS 39 had
been applied in 2004, the volatility in income, net borrowings and
equity would most probably have been higher. Comparative figures
for the prior years have not been restated. A restatement of those
years would follow the same pattern as the restatement of 2004, i.e.,
the effects on income and equity would be limited.
2003 2002 2001 2000
124,077 133,150 135,803 124,493
3.3 5.5 –2.4 3.7
3,353 3,854 4,277 3,810
–463 –434 –141 –448
7,175 7,731 6,281 7,602
7,006 7,545 5,215 6,530
4,778 5,095 3,870 4,457
10,991 12,019 10,699 11,860
7,150 9,051 5,848 8,639
–857 1,854 3,634 –2,540
6,293 10,905 9,482 6,099
–2,570 –1,011 1,213 –3,367
–3,463 –3,335 –4,195 –4,423
3,723 9,894 10,695 2,732
2,866 7,665 5,834 2,552
–3,563 –3,186 –3,117 –4,475
2.8 2.5 3.1 3.6
6.2 6.1 4.7 6.5
6.0 6.0 3.9 5.6
8.9 9.0 7.9 9.5
77,028 85,424 94,447 87,289
26,422 27,916 37,162 39,026
4,068 2,216 6,659 9,368
21,172 22,484 24,189 23,214
14,945 15,614 17,001 16,880
14,857 16,223 17,304 12,975
27,462 27,629 28,864 26,324
12,501 15,698 23,183 25,398
15.25 15.58 11.35 12.40
15.58 16.23 10.90 13.55
89 87 88 77
6.50 6.00 4.50 4.00
158.00 137.50 156.50 122.50
3,449 3,461 262 2,423
17.3 17.2 13.2 17.0
23.9 22.1 15.0 19.6
23.6 23.1 29.3 30.4
18.9 18.6 19.1 18.1
13.4 12.9 13.4 13.1
0.00 0.05 0.37 0.63
8.28 7.66 3.80 4.34
7.3 6.9 5.1 5.2
77,140 81,971 87,139 87,128
17,154 19,408 20,330 17,241
60,400 59,300 58,600 61,400