Electrolux 2015 Annual Report Download - page 79
Download and view the complete annual report
Please find page 79 of the 2015 Electrolux annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69 -
70 -
71 -
72 -
73 -
74 -
75 -
76 -
77 -
78 -
79 -
80 -
81 -
82 -
83 -
84 -
85 -
86 -
87 -
88 -
89 -
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130
-
131
-
132
-
133
-
134
-
135
-
136
-
137
-
138
-
139
-
140
-
141
-
142
-
143
-
144
-
145
-
146
-
147
-
148
-
149
-
150
-
151
-
152
-
153
-
154
-
155
-
156
-
157
-
158
-
159
-
160
-
161
-
162
-
163
-
164
 |
 |
Financial overview by business area
SEKm Change, %
Net sales , , .
Operating income
Major Appliances Europe, Middle East and Africa ,
Major Appliances North America , , –
Major Appliances Latin America , –
Major Appliances Asia/Pacific –
Small Appliances – –
Professional Products
Common Group costs, etc.) – –, –
Operating income , , –
Margin, % . .
Items affecting comparability included above) –, —
) Common Group costs for include a termination fee of USD m (SEK ,m) and transaction costs of SEK m for the terminated acquisition of GE Appliances.
) As of , the accounting practice of items affecting comparability for restructuring charges is no longer used. Restructuring costs have previously been presented separately in
the income statement and excluded in operating income by business area and selective key ratios. For comparability purposes, the figures for have been restated to include
restructuring costs. For a specification, read the press release; Restated figures for Electrolux for , March , , on www.electroluxgroup.com. Figures in the graphs for
– in this report are including these restructuring costs. For a specification see page .
Launches of new products
Electrolux is continuously expanding its product offering.
Examples from include launches of smart connected
appliances. The world’s first connected steam oven was
introduced in Europe and connected air-conditioners were
launched in North America and the Middle East. In Austra-
lia, an entire range of new appliances were launched under
the Westinghouse brand. Appliances under the Frigidaire
Professional brand were launched in a new segment in
North America. A number of innovative kitchen and laun-
dry products were launched under the Electrolux and the
Zanussi brand in EMEA. In Latin America and Asia/Pacific,
new products in appliances, vacuum cleaners and small
domestic appliances are being launched continuously.
Cost savings
The previously initiated programs to reduce overhead
costs and increase production competitiveness continued
during the year. This was mainly related to Major Appliances
EMEA, where cost savings and relocation of production
contributed to the favorable trend in earnings. Measures
were also taken to structurally reduce costs to restore profit-
ability within Small Appliances, see page .
Capital turnover-rate Return on net assets
times
Capital turnover-rate
Goal, 4 times
0
1
2
3
4
5
6
1514131211
SEKm %
Average net assets
Return on net assets
Goal, %
,
,
,
,
,
,
1514131211
Keith McLoughlin has retired from Electrolux and was
succeeded by Jonas Samuelson as President and CEO
The Board appointed Jonas Samuelson as new President
and CEO of Electrolux as of February , . Mr. Samuel-
son was previously head of the business area Major Appli-
ances Europe, Middle East and Africa.
In January , Daniel Arler was appointed new Head
of Major Appliances Europe, Middle East and Africa and
Alan Shaw was appointed new Head of Major Appliances
North America, see page .
Key ratios are including restructuring costs .These costs
were previously reported as items affecting comparability
and not included in the financial goals. As of , the
accounting practice of items affecting comparability for
restructuring charges are no longer used, see page .
UX T