Electrolux 2011 Annual Report Download - page 127

annual report 2011 notes all amounts in SEKm unless otherwise stated
Note 4 Net sales and operating income
The Group’s net sales in Sweden amounted to SEK 4,210m
(3,353). Exports from Sweden during the year amounted to
SEK3,863m (4,379), of which SEK 3,124m (3,664) were to Group
subsidiaries. The vast majority of the Group’s revenues consisted
of product sales. Revenue from service activities amounted to
SEK 1,258m (1,247).
Operating income included net exchange-rate differences in
the amount of SEK –53m (71). The Group’s Swedish factories
accounted for 1.6% (2.4) of the total value of production. Costs for
research and development amounted to SEK 1,669m (1,597) and
are included in the item Cost of goods sold.
The Group’s depreciation and amortization charge for the year
amounted to SEK 3,173m (3,328). Salaries, remunerations and
employer contributions amounted to SEK 16,237m (16,375) and
expenses for post-employment benefits amounted to SEK 425m
(741).
Government grants relating to expenses have been deducted in
the related expenses by SEK 156m (96). Government grants related
to assets have been recognized as deferred income in the balance
sheet and will be recognized as income over the useful life of the
assets. In 2011, these grants amounted to SEK 121m (220).
Note 5 Other operating income
Group Parent Company
2011 2010 2011 2010
Gain on sale
Property, plant and equipment 198 14 — —
Operations and shares 32 — 32 —
Other — — 266 379
Total 230 14 298 379
Note 6 Other operating expenses
Group Parent Company
2011 2010 2011 2010
Loss on sale
Property, plant and equipment –40 –23 –1 –1
Operations and shares — — –9 –10
Other — — — –95
Total –40 –23 –10 –106
Depreciation and
amortization
Capital
expenditure Cash flow1)
2011 2010 2011 2010 2011 2010
Major
Appliances
Europe, Middle
East and Africa 1,460 1,397 1,199 1,409 –1,099 1,910
Major
Appliances
North America 809 1,061 700 692 1,794 1,363
Major
Appliances
Latin America 314 266 526 650 –3,116 825
Major
Appliances
Asia/Pacific 173 188 286 198 725 773
Small
Appliances 139 147 118 116 –13 525
Professional
Products 104 116 287 96 760 863
Other2) 174 153 47 60 –1,278 –1,290
Items affecting
comparability — — — — –585 –375
Financial items — — — — –214 –72
Taxes paid — — — — –1,625 –1,316
Total 3,173 3,328 3,163 3,221 –4,651 3,206
1) Cash flow from operations and investments.
2) Includes Group functions.
Geographical information
Net sales1)
2011 2010
USA 26,637 29,782
Brazil 14,633 14,231
Germany 5,474 5,974
Australia 5,285 5,514
Sweden (country of domicile) 4,210 3,353
Italy 4,092 4,609
Canada 4,037 4,390
Switzerland 4,027 3,667
France 3,809 4,223
United Kingdom 2,544 2,898
Other 26,850 27,685
Total 101,598 106,326
1) Revenues attributable to countries on the basis of the customer’s location.
Tangible and non-tangible fixed assets located in the Group’s coun-
try of domicile, Sweden, amounted to SEK 2,361m (2,093). Tangible
and non-tangible fixed assets located in all other countries
amounted to SEK 24,406m (18,107). Individually, material countries
in this aspect are Italy with SEK 2,958m (2,877), USA with SEK
3,012m (2,836) and Egypt with SEK 2,734m (0), respectively.
Cont. Note 3
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