Electrolux 2014 Annual Report Download - page 80
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Major Appliances Latin America
Market demand for core appliances in Latin America is esti-
mated to have declined in year-over-year, and demand
in Electrolux largest market Brazil declined. A slow-down in
the economy and the FIFA World cup in Brazil had an adverse
impact on overall demand for appliances in .
Major Appliances Latin America showed an organic sales
growth of % in driven by higher sales prices. Although
sales volumes declined, Electrolux gained market shares in
Brazil. Sales volumes in several other Latin American markets
declined due to weak market conditions.
Operating income improved year-over-year, mainly as a result
of price increases and measures to adjust the cost base to
lower demand.
During the year, the Brazilian real and other Latin American
currencies weakened versus the USD. The negative impact
from currencies and a high rate of inflation were to a large
extent mitigated by price increases.
Major Appliances Asia/Pacific
Market demand for major appliances in Australia, Southeast
Asia and China declined in .
Electrolux showed a slight organic sales growth in ,
due to higher sales volumes in emerging markets particularly
in Southeast Asia and due to price increases. The acquisition
during the year of BeefEater Barbecues had a positive impact
on sales by .%.
Operating income declined mainly due to a negative coun-
try mix as sales volumes declined in Australia and increased
in emerging markets as Southeast Asia. A negative currency
development also impacted earnings, but was to a large
extent mitigated by price increases. An improved cost struc-
ture and lower marketing spend contributed to operating
income.
In late August , Electrolux acquired the Australian-
based barbecue business BeefEater, as part of the strategy to
grow in this market segment. BeefEater Barbecues has annual
sales of AUD million, approximately SEK m.
The operation was consolidated in the Electrolux Group as
of September , , based on a preliminary purchase price
allocation. Sales and income are included as of October .
Net sales and operating margin
Net sales and operating margin
SEKm %
Net sales
Operating margin
,
,
,
,
,
1413121110
.
.
.
.
.
.
SEKm %
Net sales
Operating margin
,
,
,
,
,
1413121110
Key figures
SEKm
Net sales , ,
Organic growth, % . .
Operating income ,
Operating margin, % . .
Net assets , ,
Return on net assets, % . .
Capital expenditure
Average number of employees , ,
Key figures
SEKm
Net sales , ,
Organic growth, % . .
Operating income
Operating margin, % . .
Net assets , ,
Return on net assets, % . .
Capital expenditure
Average number of employees , ,
’
ELECTROLUX ANNUAL REPORT