Electrolux 2012 Annual Report Download - page 20

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annual report 2012 board of directors report
Cash ow
Operating cash flow
Cash flow from operations in 2012 far exceeded the level in the
preceding year and amounted to SEK 7,155m (5,399). The
improvement in operating income and the Group’s ongoing struc-
tural efforts to reduce tied-up capital has contributed to the strong
cash flow.
Payments for the ongoing restructuring and cost-cutting pro-
grams amounted to approximately SEK –495m in 2012.
08
7,500
6,000
4,500
3,000
1,500
009 10
11
12
SEKm
Operating cash flow
Capital expenditure, by business area
SEKm 2012 2011
Major Appliances
Europe, Middle East and Africa 1,011 1,199
% of net sales 2.9 3.5
North America 1,771 700
% of net sales 5.8 2.5
Latin America 488 526
% of net sales 2.2 3.0
Asia/Pacific 411 286
% of net sales 4.9 3.6
Small Appliances 196 118
% of net sales 2.2 1.4
Professional Products 161 287
% of net sales 2.9 4.9
Other 52 47
Total 4,090 3,163
% of net sales 3.7 3.1
Capital expenditure
Capital expenditure in property, plant and equipment in 2012
amounted to SEK 4,090m (3,163). Capital expenditure corre-
sponded to 3.7% (3.1) of net sales. Investments in 2012 mainly
related to investments within manufacturing facilities for efficien-
cies, new products and production capacity. Major projects
include the cooker plant in Memphis, Tennessee, USA, and the
new plant for refrigerators and freezers in Rayong, Thailand, for
the Southeast Asian markets. The cooker plant in Memphis is
receiving investment support from state authorities.
08
009 10
11
12
SEKm
5,000
4,000
3,000
1,000
2,000
Depreciation and amortization
Capital expenditure
Capital expenditure in 2012
amounted to SEK 4,090m
(3,163).
Capital expenditure
Costs for R&D
Costs for research and development in 2012, including capitaliza-
tion of SEK 477m (374), amounted to SEK 2,128m (2,043), corre-
sponding to 1.9% (2.0) of net sales.
For definitions, see Note 30.
• Cash flow was positively impacted by improved
earnings and changes in working capital.
• Capital expenditure increased and amounted to
SEK 4,090m (3,163).
• R&D costs amounted to 1.9% (2.0) of net sales.
Cash flow from operations
and investments excluding
financial items, taxes, acquisi-
tions and divestments
improved to SEK 4,779m
(2,745).
18