Electrolux vision is to be the best appliance company

164 Pages·2016·9.14 MB·English

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Electrolux vision is to be
the best appliance company as
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measured by our customers
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Customer value is derived from the products and services
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n Electrolux provides. Innovative products, closely based on
a the Group’s professional expertise, are launched at an
l ever increasing pace across the globe.
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Cover: Electrolux Grand Cuisine in a home in Stockholm, Sweden.

Electrolux vision is to be
the best appliance company
as measured by our employees
Growth, innovation and operational excellence
always begin with people. Dedicated employees
from diverse backgrounds play a crucial role in
creating an innovative culture.

Electrolux vision is to be
the best appliance company
as measured by our shareholders
The combination of continuous growth,
high profitability, a stable cash flow, and an optimal capital
base generates a high total return for shareholders.
Vision and mission
Contents
Electrolux
offering
Vision and Mission
Electrolux offering 6
Electrolux 2015 8
CEO statement 10
Electrolux vision 12
Electrolux is a global leader in home appliances and
Mission – financial goals 14
appliances for professional use. We offer thoughtfully
Strategic development designed, innovative and sustainable solutions.
Strategy 18
Under esteemed brands including Electrolux, AEG,
Profitable growth 20
Market overview 22 Zanussi, Frigidaire and Electrolux Grand Cuisine,
Innovation 26 the Group sells more than 60 million products to
Brand and design 30
customers in more than 150 countries every year.
Sustainability 32
Operational excellence 34 In 2015, Electrolux had sales of SEK 124 billion and
People and leadership 38 about 58,000 employees.
Our values 40
History 42
60
Markets and Business areas
Market information 46
Electrolux market data 48
Major Appliances EMEA 50
MILLION PRODUCTS SOLD ANNUALLY
Major Appliances North America 52
Major Appliances Latin America 54
Major Appliances Asia/Pacific 56 150
Small Appliances 58
Professional Products 60
The Electrolux share
COUNTRIES
and Risk management
The Electrolux share 64
124
Electrolux and the capital markets 68
Risk management 70
Reporting
Report by the Board of Directors 74 BILLION SEK IN SALES
Notes to the financial statements 102
Proposed distribution of earnings 133
Auditors’ report 134 58,000
Eleven-year review 136
Quarterly information 138
Corporate governance report 140
Annual General Meeting 157
EMPLOYEES
Recognitions 158
Events and reports 160
The Annual Report for AB Electrolux
8
(publ), 556009-4178, consists of the
Report by the Board of Directors and
Notes to the financial statements,
pages 74–135.
The Annual Report is published in STRATEGIC BRANDS
Swedish and English.
Sustainability priorities are integrated
through out the report. The most
important areas are summarized on
pages 32–33.
The full Electrolux Sustainability Report is
included in the online annual report
published on www.electroluxgroup.com/
annualreport2015.
Electrolux offers thoughtfully
designed, innovative and
sustainable solutions for
households and businesses, with
products such as refrigerators,
dishwashers, washing machines,
cookers, vacuum cleaners, air
conditioners and small domestic
appliances.
Kitchen Laundry Small appliances Adjacent product
categories
Electrolux sells cookers, hobs, Washing machines and tum- Electrolux vacuum cleaners,
ovens, hoods, microwave ovens, ble dryers are the core of the small domestic appliances and
Adjacent product categories
refrigerators, freezers and dish- Electrolux product offering for accessories are sold to consum-
include the rapidly growing areas
washers for households and washing and garment care. ers worldwide. Electrolux has a
of air-conditioning equipment,
professional kitchens throughout Demand is driven by innovations strong, global distribution network
water heaters and heat pumps, as
the world. Electrolux is a leader such as user-friendliness and and an attractive product offering.
well as consumables, accessories
in kitchen appliances and new resource efficiency.
and service.
functions are continuously being
developed.
65% share of Group sales 18% share of Group sales 7% share 10% share
of which 3% professional products of which 2% professional products of Group sales of Group sales
Vision and mission
Electrolux 2015
In brief
•
Strong results for Major Appliances EMEA
and Professional Products.
•
Weak demand in emerging markets
impacted earnings.
•
The planned acquisition of GE Appliances
was not completed.
•
Operating margin improved to 3.9% (3.2)
excluding costs related to the not completed
acquisition above. Keith McLoughlin retired from Electrolux in January
2016. Jonas Samuelson was appointed new Presi-
dent and CEO of Electrolux as of February 1, 2016.
Business areas The Electrolux
Professional Products 5% Europe, Middle EasMt aanjodr AAfpripcalia 3nc0e%s brand
Small Appliances 7%
Major Appliances
Asia/Pacifi c 7%
Major Appliances SHARE OF
Latin America 15% GROUP SALES
Major Appliances
North America 35%
The Group’s products are sold in more than 150 countries. The largest of these in terms
of sales are in North America and Europe. Electrolux is expanding its presence in growth
markets, such as Latin America, Africa, the Middle East and Asia.
Sales by region
Mature markets
Emerging markets
37% 29% 12%
2%
16% In 2015, Electrolux introduced a new visual
identity for the company brand. A visual identity
4%
is much more than a change of logo and color
palette. It represents a new sense of Electrolux as
a brand, what we, our products and our services
stand for and how we want to be perceived.
8
ELECTROLUX ANNUAL REPORT 2015