Electrolux 2013 Annual Report Download - page 96

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Cash flow
• Cash flow was impacted by lower results and a negative cash flow from working capital.
• Capital expenditure in property, plant and equipment decreased and amounted to SEK3,535m (4,090).
• R&D costs amounted to 2.5% (2.4) of net sales.
Operating cash flow
Cash flow from operations in 2013 declined and amounted to
SEK1,809m (4,779). Lower earnings and negative cash flow
from working capital impacted the cash flow in 2013.
Cash payments for the ongoing restructuring and cost-cut-
ting programs amounted to approximately SEK –603m in 2013.
Cash flow from operations and invest-
ments excluding financial items, taxes,
acquisitions and divestments decreased
to SEK1,809m (4,779).
Operating cash flow
SEKm
0
1,500
3,000
4,500
6,000
7,500
1312111009
Capital expenditure by business area
SEKm 2012 2013
Major Appliances
Europe, Middle East and Africa 1,011 1,294
% of net sales 2.9 3.9
North America 1,771 855
% of net sales 5.8 2.7
Latin America 488 742
% of net sales 2.2 3.6
Asia/Pacific 411 267
% of net sales 4.9 3.1
Small Appliances 196 225
% of net sales 2.2 2.5
Professional Products 161 76
% of net sales 2.9 1.4
Other 52 76
Total 4,090 3,535
% of net sales 3.7 3.2
Capital expenditure
Capital expenditure in property, plant and equipment in 2013
amounted to SEK3,535m (4,090). Capital expenditure corre-
sponded to 3.2% (3.7) of net sales. Investments in 2013 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.
Capital expenditure
SEKm
Capital expenditure
Depreciation and amortization
0
1,000
2,000
3,000
4,000
5,000
1312111009
Capital expenditure in 2013 including prod-
uct development amounted to SEK3,977m
(4,567).
Costs for R&D
Costs for research and development in 2013, including capital-
ization of SEK442m (447), amounted to SEK2,739m (2,613)
corresponding to 2.5% (2.4) of net sales.
For definitions, see Note 30.
board of directors’ report
94 ANNUAL REPORT 2013