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Electrolux AB (ELXB)

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Wednesday 03 February, 2010

Electrolux AB

Consolidated results 2009

Consolidated results 2009

Stockholm, February 3, 2010



Highlights of the fourth quarter of 2009
Net sales amounted to SEK 28,215m (28,663) and income for the period
was SEK 664m (-474), or SEK 2.34 (-1.68) per share.
Net sales declined by 1% in comparable currencies, due to continued
weak markets.
Price and mix continued to have a positive effect on sales.
Operating income amounted to SEK 2,023m (-389), corresponding to a
margin of 7.2%, excluding items affecting comparability.
Results improved across all business areas.
Lower costs for raw materials positively impacted income. However, costs
for raw materials increased in the quarter compared to the third quarter
of 2009.
Cost savings, sales prices and lower costs for raw materials contributed

strongly to the improvement in income.
Extra contributions of SEK 3,935m to Group pension funds in fourth
quarter resulting in appropriate funding levels and reduced balance-
sheet risk exposure
to pension commitments.
Continued strong operating cash flow in the quarter, excluding extra
pension contributions, resulted in a very strong cash flow for 2009.
The Board proposes a dividend for 2009 of SEK 4.00 (0.00) per share.

                                                                Contents
                             Net sales and income                      2
                                                Market overview        3
                                                Business areas         3
                                            Cash flow                  6
                                              Financial position       6
                                                 Structural changes    7
                                                 Proposed dividend     8
                   Financial statements                               11




                                          Change
SEKm                      Q4 2009 Q4 2008 %                      Change
                                                 2009    2008    %
Net sales                 28,215  28,663  -1.6   109,132 104,792 4.1

Operating income          805     -347    n/a    3,761   1,188   216.6

Margin, %                 2.9     -1.2           3.4     1.1

Income after financial
items                     801     -530    n/a    3,484   653     433.5

Income for the period     664     -474    n/a    2,607   366     612.3

Earnings per share, SEK1) 2.34    -1.68          9.18    1.29

Return on net assets, %   -       -              19.4    5.8


Excluding items affecting
comparability

Items affecting
comparability             -1,218  42             -1,561  -355

Operating income          2,023   -389    n/a    5,322   1,543   244.9

Margin, %                 7.2     -1.4           4.9     1.5

Income after financial
items                     2,019   -572    n/a    5,045   1,008   400.5

Income for the period     1,583   -516    n/a    3,851   656     487.0

Earnings per share, SEK1) 5.57    -1.82          13.56   2.32

Return on net assets, %   -       -              26.2    7.2





1) Basic, based on an average of 284.4 (283.6) million shares for the
fourth quarter and 284.0 (283.1) million shares for the full year of
2009,
excluding shares held by Electrolux.
For earnings per share after dilution, see page 11.
For definitions, see page 19.

For further information, please contact Peter Nyquist, Head of Investor
Relations and Financial Information, at +46 8 738 60 03.
AB ELECTROLUX (PUBL)
Postal address                                            Media
hotline                                   Investor
Relations                               E-mail
SE-105 45 Stockholm, Sweden                        +46 8 657 65
07                                 +46 8 738 60
03                                     ir@electrolux.se
Visiting address
Telefax
Website                                               Reg. No.
S:t Göransgatan 143                                      +46 8 738 74
61
www.electrolux.com                                556009-4178

Net sales and income
Fourth quarter of 2009
Net sales for the Electrolux Group in the fourth quarter of 2009
amounted to SEK 28,215m (28,663). Sales were adversely impacted by lower
volumes, while price and mix had a positive impact. Net sales decreased
by 1% in comparable currencies.


Change in net sales
                            Q4 2009
%                                   2009
Changes in Group structure  0.0     0.0

Changes in exchange rates   -1.0    8.9

Changes in volume/price/mix -0.6    -4.8

Total                       -1.6    4.1





Operating income
Operating income for the fourth quarter of 2009 increased to
SEK 805m (-347) and income after financial items to SEK 801m (-530).
Lower costs for raw materials had a positive impact on operating income.
However, costs for raw materials increased in the fourth quarter
compared to the third quarter of  2009. Previous price increases and
cost savings also contributed to the improvement in income. Income for
the period amounted to SEK 664m (-474), corresponding to SEK 2.34 (-
1.68) in earnings per share.
In the light of the sharp market decline by the end of 2008, a costs
savings program was initiated in the fourth quarter to reduce the number
of employees by approximately 3,000. All operations on a global basis
were affected. In the fourth quarter of 2008, non-recurring items were
charged against operating income in the total amount of approximately
SEK -1,115m, see table below.


Impact of Electrolux US launch and cost-reduction
measures
                                                  Q4 2009 Q4 2008
SEKm, approximately
Net impact of the launch of Electrolux,
appliances North America                          -       -70

Cost-savings program:

Consumer Durables, Europe                         -       -800

Consumer Durables, North America                  -       -45

Consumer Durables, Latin America                  -       -10

Consumer Durables, Asia/Pacific                   -       -110

Professional Products                             -       -40

Group staff                                       -       -40

Total                                             -       -1,115





Items affecting comparability
Operating income for the fourth quarter of 2009 includes items affecting
comparability in the amount of SEK -1,218m (42), referring to
restructuring provisions related to appliances plants and consolidation
of corporate operations in North America, see page 7 and table on page
11. Excluding items affecting comparability, operating income amounted
to SEK 2,023m (-389).
Effects of changes in exchange rates
Changes in exchange rates compared to the previous year, including both
translation and transaction effects, had a positive impact of SEK 304m
on operating income for the fourth quarter of 2009, compared to the same
period in the previous year. Transaction effects net of hedging
contracts amounted to SEK 358m, and referred mainly to the strengthening
of the Australian dollar and the
Brazilian real against the US dollar. Translation of income statements
in subsidiaries had an impact of SEK -54m.
The effect of changes in exchange rates on income after financial items
amounted to SEK 311m.

Financial net
Net financial items for the fourth quarter of 2009 amounted to
SEK -4m, compared to SEK -183m for the corresponding period in the
previous year. The improvement is mainly due to lower interest rates on
borrowings and lower net borrowings.

Full year of 2009
Net sales for the Electrolux Group in 2009 amounted to
SEK 109,132m, as against SEK 104,792m in the previous year. Sales were
adversely impacted by lower volumes, while higher prices and an improved
mix had a positive impact. In comparable currencies, net sales declined
by 5%.

Operating income
Operating income for 2009 increased to SEK 3,761m (1,188) and income
after financial items to SEK 3,484m (653). Previous price increases, an
improved mix, lower costs for raw materials and cost efficiency measures
contributed to the improvement in income. Income for the period
increased to SEK 2,607m (366), corresponding to SEK 9.18 (1.29) in
earnings per share.
Operating income in the first quarter of 2009 was negatively impacted by
the North American launch in the net amount of
SEK -200m. In 2008, non-recurring items were charged against operating
income in the total amount of approximately SEK -1,945m, see table
below.


Impact of cost-reduction measures, Electrolux North American
launch and non-recurring items

                                                             2009
SEKm, approximately                                               2008
Cost-reduction measures due to sharp decline in demand       -    -1,045

Net impact of the launch of Electrolux, appliances North
America                                                      -200 -470

Cost-cutting program, appliances Europe                      -    -360

Cost for a component problem for dishwashers,                -    -120
appliances Europe
Capital gain, real estate, appliances Europe                 -    130

Cost for litigation, appliances North America                -    -80

Total                                                        -200 -1,945




Items affecting comparability
Operating income for 2009 includes items affecting comparability in the
amount of SEK -1,561m (-355), see table on page 11. Excluding items
affecting comparability, operating income for 2009 increased to SEK
5,322m (1,543) and income after financial items to
SEK 5,045m (1,008). Income for the period was SEK 3,851m (656),
corresponding to SEK 13.56 (2.32) in earnings per share.

Effects of changes in exchange rates
Changes in exchange rates compared to the previous year, including both
translation and transaction effects, had an impact of SEK -295m on
operating income for 2009. Transaction effects net of hedging contracts
amounted to SEK -333m, and referred mainly to changes in exchange rates
related to the US dollar and the euro against several other currencies.
Translation of income statements in subsidiaries had an effect of SEK
38m.
The effect of changes in exchange rates on income after financial items
amounted to SEK -278m.

Financial net
Net financial items for the full year of 2009 decreased to SEK -277m,
compared to SEK -535m for 2008. The improvement is mainly due to lower
interest rates on borrowings and lower net borrowings.

Taxes
Total taxes in 2009 amounted to SEK -877m (-287), corresponding to
25.2% (44.0) of income after financial items. The tax rate for 2009 was
positively impacted by reversal of a tax provision following a tax
settlement in Europe. The tax rate in 2008 was negatively impacted by
the low level of earnings.

Market overview
Some of Electrolux main markets started to show some recovery during the
fourth quarter of 2009, although compared to a very weak fourth quarter
of 2008. The North American market rose slightly after thirteen
consecutive quarters with decline. In the fourth quarter, industry
shipments of core appliances in the US increased by 4%. Demand in some
markets in Europe, as Germany, France, and Italy showed some
stabilization. However, most of Electrolux main markets continued to
show a decline although at a lower rate than in previous quarters. The
European market has been falling for nine consecutive quarters. Eastern
Europe showed a continued downturn in the fourth quarter, declining by
17%. Demand in Western Europe declined by 2% and the total market in
Europe by 7%. The market in Brazil continued to increase in the fourth
quarter due to temporary tax reductions on domestically-produced
appliances.
There are no indications of a strong recovery in any of the Group's main
markets, and therefore we only expect a modest improvement from the
currently low level of market demand for appliances in 2010.
Business areas
Changes in net sales and operating income by business area in comparable
currencies are given on page 15.

Consumer Durables, Europe

SEKm                Q4 2009 Q4 2008        2008
                                    2009
Net sales           11,285  11,972  42,300 44,342

Operating income    829     -638    2,188  -22

Operating margin, % 7.3     -5.3    5.2    0.0





Operating income for the fourth quarter and the full year of 2008
includes non-recurring items and provisions for cost-cutting programs in
the net amounts of SEK -800m and SEK -1,150m, respectively, see page 2.


Industry shipments of core appliances in Europe

                                                Q4 2009
Units, year-over-year, %                                2009
Western Europe                                  -2      -6

Eastern Europe (excluding Turkey)               -17     -25

Total Europe                                    -7      -11





Core appliances
Demand for appliances in Europe during the fourth quarter of 2009
continued to decline in comparison with the same period in 2008. The
rate of decline was lower than in the first three quarters, how-ever.
Demand declined by 7% compared to the last quarter of 2008. Shipments in
Western Europe fell by 2% and demand continued to decline in several of
the Group's major markets, including the UK, Spain and the Nordic
region. Demand rose in Germany, France and Italy. Industry shipments of
appliances in Eastern Europe declined by 17%.
Group sales showed a continued decline in both the fourth quarter and
the full year of 2009, due to lower volumes, resulting from the weak
market.
Operating income was substantially higher for both the fourth quarter
and the full year in comparison with 2008. Factors contributing to the
improvement included a positive price and mix development and lower
costs for raw materials. However, costs for raw materials increased in
the fourth quarter compared to the previous quarter. Personnel cutbacks
and other cost-cutting measures during the year also contributed to the
improvement in income.
Quelle of Germany, one of the Group's major retailers, went into
bankruptcy in the fourth quarter of 2009. This reduced the Group's sales
of appliances under private labels. At the same time,
Electrolux strengthened its position in the market for built-in
products.
Floor-care products
Demand for vacuum cleaners in Europe continued to decline in the fourth
quarter and the full year of 2009 in comparison with 2008. The downturn
in the fourth quarter was lower than in the first three quarters,
however.
Group sales in the fourth quarter were in line with the corresponding
period in 2008, despite lower volumes, as sales in the premium segment
increased. Operating income improved substantially due to an improved
product mix. Mainly as a result of the launches of the premium vacuum
cleaner UltraOne at the beginning of the year as well as other premium
products during the second half of 2009.
Demand for vacuum cleaners in the full year of 2009 was lower than in
2008. Group sales declined as a result of lower sales volumes, and
operating income was lower. The decline in income was offset to some
extent by an improved product mix, lower product costs, and cost
savings.


Consumer Durables, North America


SEKm                Q4 2009 Q4 2008        2008
                                    2009
Net sales           7,865   8,928   35,726 32,801

Operating income    450     -43     1,476  222

Operating margin, % 5.7     -0.5    4.1    0.7





Operating income for 2008 includes the net impact of the launch in North
America of the Electrolux brand, costs related to cost-cutting measures,
and other non-recurring items in the amounts of
SEK -115m for the fourth quarter and SEK -595m for the full year, see
page 2.


Industry shipments of core appliances in the US

                                                Q4 2009
Units, year-over-year, %                                2009
Core appliances                                 4       -8

Major appliances                                2       -14





Core appliances
Market demand for core appliances in the US showed an  increase in the
fourth quarter of 2009, following  thirteen consecutive quarters of
decline. Demand increased by 4% in the fourth quarter in comparison with
2008.
Group sales in comparable currencies were lower in both the fourth
quarter and the full year in comparison with 2008. However, a positive
price and mix development provided some compensation for lower sales
volumes. Sales volumes were impacted by increased competition within the
laundry-product category.
Operating income rose considerably for both the fourth quarter and the
full year in comparison with 2008, despite lower volumes. Factors
contributing to the improvement in income included  a positive price and
mix development, higher internal efficiency and  lower costs for raw
materials. However, costs for raw materials increased slightly in the
fourth quarter compared to the previous quarter. Income was  positively
affected by higher productivity at the Group's plants despite lower
utilization of capacity.
The re-launch of new products under the Frigidaire brand during the year
contributed to mix improvements, as well as the Electrolux brand which
increased market share in the kitchen-product category.

Floor-care products
Market demand for vacuum cleaners in North America increased in the
fourth quarter in comparison with the corresponding period in 2008.
Group sales rose as a result of higher sales volumes, particularly due
to seasonally high volumes for Thanksgiving. Operating income improved
on the basis of cost savings and lower product costs.
For the full year 2009, demand for vacuum cleaners was lower than in the
previous year. Group sales increased somewhat as a result of higher
volumes, primarily in the low- and mid-range price segments. Operating
income and margin were in line with 2008. Income was positively affected
by cost-cutting measures and lower product costs.


Consumer Durables, Latin America


SEKm                Q4 2009 Q4 2008        2008
                                    2009
Net sales           4,401   3,305   14,165 10,970

Operating income    368     244     878    715

Operating margin, % 8.4     7.4     6.2    6.5






Operating income for the fourth quarter of 2008 includes costs related
to cost-cutting measures, in the amount of SEK -10m, see
page 2.

Market demand for appliances in Latin America is estimated to have risen
during the fourth quarter of 2009 in comparison with the same period in
2008, on the basis of strong growth in Brazil. The increase in Brazil
resulted from the Brazilian government's stimulus package, in the form
of lower taxes on domestically-produced appliances. Lower interest rates
and greater access to credit also contributed to increased consumption.
Market demand continued to decline in most of the other Latin American
markets.
The Group's sales volumes showed a continued increase in both the fourth
quarter and the full year in comparison with 2008. Sales were
substantially higher, and the Group captured additional market shares in
Brazil. Operating income for both the fourth quarter and the full year
improved on the basis of positive price and mix development and lower
costs for raw materials. Operating margin for the full year declined,
following the weak performance in the first quarter.
Launches of new products during the year contributed to the improvement
in the product mix. For the second consecutive year, operating income
for the Latin American operation was at a record high.

Consumer Durables, Asia/Pacific and Rest of world


SEKm                Q4 2009 Q4 2008       2008
                                    2009
Net sales           2,741   2,409   9,806 9,196

Operating income    254     16      619   369

Operating margin, % 9.3     0.7     6.3   4.0





Operating income for the fourth quarter of 2008 includes costs related
to cost-cutting measures, in the amount of SEK -110m, see page 2.

Australia and New Zealand
Market demand for appliances in Australia continued to decline during
the fourth quarter. Group sales were higher, mainly as a result of
increased sales of air-conditioners. Operating income improved,
primarily on the basis of higher sales volumes, positive development of
sales prices, currency and raw materials.
Market demand for appliances in Australia for the full year of 2009 is
estimated to have been lower than in 2008. Group sales rose on the basis
of higher sales volumes and maintained price levels. Operating income
showed an improvement as a result of positive development of raw
materials and sales prices as well as cost-cutting programs.

Southeast Asiaand China
Market demand in Southeast Asia is estimated to have been somewhat
higher in the fourth quarter, following three consecutive quarters of
decline, compared to the same period in the previous year. Demand in the
full year was unchanged.
Group sales in Southeast Asia showed strong growth in several markets in
the fourth quarter and the full year, and the Group captured market
shares. The operation in Southeast Asia continued to show good
profitability.
The operation in China was positively affected by implemented cost-
cutting measures as well as the repositioning of the Electrolux brand.
Professional Products


SEKm                Q4 2009 Q4 2008
                                    2009  2008
Net sales           1,923   2,021   7,129 7,427

Operating income    225     181     668   774

Operating margin, % 11.7    9.0     9.4   10.4





Operating income for the fourth quarter of 2008 includes costs related
to cost-cutting measures, in the amounts of SEK -40m, see page 2.

Estimates of market demand for food-service equipment indicate a
continued decline in the fourth quarter of 2009 in comparison with the
same period in the previous year.
Group sales of food-service equipment declined in the fourth quarter as
a result of lower sales volumes, a less favorable product mix, and
downward pressure on prices. Despite lower sales and lower utilization
of capacity, operating margin was in line with the fourth quarter of
2008, primarily on the basis of lower costs for raw materials, previous
personnel cutbacks, and more efficient production.
Group sales of food-service equipment declined for the full year 2009 in
comparison with 2008, as a result of lower sales volumes, and operating
income also declined.
Estimates of market demand for laundry equipment indicate a continued
decline in the fourth quarter of 2009 in comparison with the same period
in the previous year. Group sales rose as a result of higher sales
volumes, and market shares expanded. Operating income and margin
improved, mainly on the basis of higher sales volumes, implemented cost-
cutting measures and favorable exchange rates.
Group sales of laundry equipment were lower for the full year 2009 in
comparison with 2008, as a result of lower sales volumes. Operating
income improved, however, on the basis of lower costs for raw materials,
favorable exchange rates, price increases and lower costs for production
and administration.

Cash flow
Cash flow from operations and investments in the fourth quarter of 2009
amounted to SEK -1,440m (966). Exclusive of extra contribution to
pension funds, the cash flow for the quarter was very strong, amounting
to SEK 2,495m.
SEK 3,935m was paid to the Group's pension funds during the quarter.
This included payments to pension funds in Germany, the US and the UK.
The payments have reduced the Group's pension net debt, limited risk
exposure and volatility in pension liabilities.
The strong cash flow was generated by the increased income from
operations and by changes in operating assets and liabilities. Cash flow
from working capital continued to be very positive in the fourth
quarter. Seasonally lower sales and production in December had a
positive effect on trade receivables and inventories. Inventory levels
declined steadily during the year. The Group's ongoing structural
efforts to reduce tied-up capital also contributed to the strong cash
flow in the quarter and the full year of 2009. The Group's inventories,
trade receivables and accounts payable developed favorably in relation
to net sales, see table on page 14.
Payments for previously delivered air-conditioners in the US had an
adverse effect on cash flow in the amount of approximately
SEK 900m during the quarter. Outlays for the ongoing restructuring and
cost-cutting programs amounted to approximately SEK 220m.
Investments during the fourth quarter of 2009 referred mainly to
manufacturing systems for new products, and to reinvestment. In 2008,
investments included new plants in connection with relocation of
production.
Cash flow from operations and investments for the full year 2009
amounted to SEK 9,265m, exclusive of pension payments.


Cash flow
                                           Q4 2009 Q4 2008        2008
SEKm                                                       2009
Cash flow from operations, excluding
change in operating assets and liabilities 2,171   594     6,378  3,446

Change in operating assets and liabilities 1,405   1,626   5,854  1,503

Extra contributions to pension funds       -3,935  0       -3,935 0

Investments                                -1,081  -1,254  -2,967 -3,755

Cash flow from operations and investments  -1,440  966     5,330  1,194

Dividend                                   -       -       0      -1,204

Sale of shares                             10      -       69     17

Total cash flow, excluding change in loans
and short- term investments                -1,430  966     5,399  7






Financial position
Total equity as of December 31, 2009, amounted to SEK 18,841m (16,385),
which corresponds to SEK 66.24 (57.78) per share.



Net borrowings
                                   Dec. 31, 2009 Dec. 31, 2008
SEKm
Borrowings                         14,022        13,946

Liquid funds                       13,357        9,390

Net borrowings                     665           4,556

Net debt/equity ratio              0.04          0.28

Equity                             18,841        16,385

Equity per share, SEK              66.24         57.78

Return on equity, %                14.9          2.4

Return on equity, excluding items
affecting comparability, %         22.0          4.2

Equity/assets ratio, %             31.8          25.6





Net borrowings
Net borrowings amounted to SEK 665m (4,556). The net debt/equity ratio
was 0.04 (0.28). The equity/assets ratio was 31.8% (25.6).
During 2009, SEK 1,639m of new long-term borrowings were raised. Long-
term borrowings as of December 31, 2009, excluding long-term borrowings
with maturities within 12 months, amounted to SEK 10,241m with average
maturities of 3.9 years, compared to SEK 9,963m and 4.7 years by the end
of 2008.
During 2010 and 2011, long-term borrowings in the amount of SEK 2,217m
will mature. Liquid funds as of December 31, 2009, excluding a committed
unused revolving credit facility of EUR 500m, amounted to SEK
13,357m.

Net assets and working capital
Average net assets for the period amounted to SEK 19,411m (20,538). Net
assets as of December 31, 2009, amounted to
SEK 19,506m (20,941).
Adjusted for items affecting comparability, i.e., restructuring
provisions, average net assets amounted to SEK 20,320m (21,529),
corresponding to 18.6% (20.5) of net sales.
Working capital as of December 31, 2009, amounted to
SEK -5,154m (-5,131), corresponding to -4.5% (-4.4) of annualized net
sales.
The return on net assets was 19.4% (5.8), and 26.2% (7.2), excluding
items affecting comparability.

Pension commitments
The provisions for post-employment benefits as of December 31, 2009,
decreased to SEK 2,168m (6,864), mainly as a result of extra
contributions of SEK 3,935 to pension funds in December.
Structural changes
January 2010
Production of cookers in Sweden to be phased out
In 2009, an analysis was performed of a possible phase-out of cooker
production in Motala, Sweden. It was subsequently decided that the
Group's production of cookers in Motala will be discontinued. The
greater part will be phased out and it is intended that an external part
will take over production of large cookers and compact-kitchens.
Approximately 240 people are employed at the plant. The cost of the
discontinuation is estimated at approximately
SEK 90m, which will be charged against operating income, within items
affecting comparability in the first quarter of 2010.

December 2009
North American corporate office operations to be consolidated
To take advantage of synergies, improve coordination and increase
efficiencies, it has been decided to consolidate most of the US
corporate office operations and support functions into one single
location. The new corporate headquarters will be located in Charlotte,
North Carolina.
Consolidation will be done gradually and is scheduled to start in the
third quarter of 2010. The cost for the consolidation is estimated to
SEK 218m, which was charged to operating income of in the fourth quarter
of 2009, within items affecting comparability.

October 2009
Production of laundry products in North America to be concentrated
Decision has been taken to concentrate production of laundry products in
North America to the Group's factory in Juarez, Mexico, while ceasing
production at the plant in Webster City and its satellite plant in
Jefferson, Iowa. A total of approximately 950 employees will be
affected.
Production is expected to be discontinued at the Jefferson plant in the
fourth quarter of 2010 and at the Webster City plant in the first
quarter of 2011. The cost for the closures is estimated to SEK 560m,
which was charged to operating income in the fourth quarter of 2009,
within items affecting comparability.

Production at the washing-machine factory in Spain to be discontinued
It has been decided to discontinue production at the washing-machine
factory in Alcalà, Spain.  A total of approximately 450 employees will
be affected.
Production is expected to be discontinued in the first quarter of 2011.
The  cost for the closure is estimated to SEK 440m, which was charged to
operating income in the fourth quarter of 2009, within items affecting
comparability.

April 2009
Washing-machine plant in Russia to be closed
Electrolux will close the plant in St. Petersburg, Russia. Production
comprises washing machines mainly for the Russian market, with
approximately 250 employees.
The closure is scheduled for completion in the second quarter of 2010.
The shutdown involves a total cost of SEK 105m, which was taken as a
charge against operating income in the first quarter of 2009, within
items affecting comparability.

Refrigerator plant in China has been closed
Electrolux discontinued production at the refrigerator plant in
Changsha, China, in the first quarter of 2009. The closure of the
factory involved a total cost of SEK 162m, which was taken as a charge
against operating income in the first quarter of 2009, within items
affecting comparability. About 700 employees were affected by the
closure. Distribution of appliances is now concentrated to gain a strong
position in the premium segment.

March 2009
Higher efficiency at the washing-machine plant in Italy
Electrolux will re-engineer production at the washing-machine plant in
Porcia, Italy, in order to increase efficiency and productivity. This
involves a cost of SEK 132m, which was taken as a charge against
operating income in the first quarter of 2009, within items affecting
comparability.

Changes in Group Management
Keith McLoughlin, new Chief Operations Officer Major Appliances
Keith McLoughlin was appointed Chief Operations Officer
Major Appliances in July 2009. Keith McLoughlin is responsible for a new
global organization for R&D, purchasing and manufacturing, with the
objective of taking full advantage of the Group's global reach and
economies of scale.  Keith McLoughlin is a member of Group Management
and reports to the President and CEO Hans Stråberg. Previously, Keith
McLoughlin was head of Electrolux Major Appliances North America.

Kevin Scott, new head of Major Appliances North America
Kevin Scott was appointed new head of Major Appliances North America in
July 2009. He succeeded Keith McLoughlin, who has a new appointment as
head of global operations for major appliances, see above. Kevin Scott
is a member of Group Management and reports to the President and CEO
Hans Stråberg. Previously, Kevin Scott has held various management
positions within Electrolux Major Appliances North America. Prior to
joining Electrolux, Mr Scott held senior positions with DuPont and
Pepsi.

Alberto Zanata, new head of Professional Products
Alberto Zanata was appointed new head of Electrolux Professional
Products in June 2009. He succeeded Dr. Detlef Münchow, who has left the
Group. Alberto Zanata is a member of Group Management and reports to the
President and CEO Hans Stråberg. Previously, Mr Zanata has held various
management positions within Electrolux operations for professional
products.

Other items
Electrolux has applied for delisting from the LSE
Electrolux has applied for delisting from the London Stock Exchange
(LSE). The Electrolux B-share has been listed on the LSE since 1928.
The LSE listing has been a part of a strategy to increase international
ownership in Electrolux. However, this listing is no longer deemed
necessary due to the deregulation of international capital markets and
the increased foreign ownership of shares on the Nasdaq OMX Stockholm.
In recent years, trading of Electrolux shares on the LSE has been
limited. Electrolux has also exited its other international listings in
recent years, including those of Paris, Zurich and Geneva as well as New
York's Nasdaq.
It is expected that the delisting will become effective during the first
quarter 2010.

Asbestos litigation in the US
Litigation and claims related to asbestos are pending against the Group
in the US. Almost all of the cases refer to externally supplied
components used in industrial products manufactured by discontinued
operations prior to the early 1970s. Some of the cases involve multiple
plaintiffs who have made identical allegations against many other
defendants who are not part of the Electrolux Group.
As of December 31, 2009, the Group had a total of 2,818 (2,639) cases
pending, representing approximately 3,120 (approximately 3,200)
plaintiffs. During 2009, 760 new cases with approximately 760 plaintiffs
were filed and 581 pending cases with approximately 850 plaintiffs were
resolved. Approximately 40 of the plaintiffs relate to cases pending in
the state of Mississippi.
Additional lawsuits may be filed against Electrolux in the future. It is
not possible to predict either the number of future claims or the number
of plaintiffs that any future claims may represent. In addition, the
outcome of asbestos claims is inherently uncertain and always difficult
to predict and Electrolux cannot provide any assurances that the
resolution of these types of claims will not have a material adverse
effect on its business or on results of operations in the future.

Conversion of shares
According to the company's articles of association, owners of A-shares
have the right to have such shares converted to B-shares.     Conversion
reduces the total number of votes in the company.
In January  2010, at the request of shareholders, 439,150 A-shares were
converted to B-shares. The total number of votes thereafter amounts to
39,048,843. The total number of registered shares in the company amounts
to 308,920,308 shares, of which 9,063,125 are A-shares and 299,857,183
are B-shares.

Repurchase and transfer of own shares
For several years, Electrolux has on the basis of authorizations by the
Annual General Meeting (AGM) acquired and transferred own shares. The
purpose of the share-repurchase programs has been to enable adapting the
capital structure of the Group and thereby to contribute to increased
shareholder value, or to use the repurchased shares in conjunction with
the financing of potential acquisitions and the Group's share-related
incentive programs.
In accordance with the proposal by the Board of Directors, the AGM 2009
decided to authorize the Board to transfer own shares on the account of
company acquisitions during the period up until the AGM in 2010. The
Board of Directors did not request any mandate from the AGM to
repurchase additional shares in the company.
The AGM also authorized transfers of up to 3,000,000 repurchased B-
shares to cover costs that may arise as a result of the previous
employee stock-option programs for 2002-2003 and the
Electrolux Performance Share Program 2007.
As of December 31, 2009, Electrolux held 24,498,841 B-shares,
corresponding to 7.9% of the total number of outstanding shares, see
table on page 12.

Annual General Meeting 2010
The Annual General Meeting of AB Electrolux will be held on Tuesday,
March 30, 2010, at the Berwald Hall, Dag Hammarskjölds väg 3, Stockholm,
Sweden.

Proposed dividend
The Board of Directors proposes a dividend for 2009 of SEK 4.00  (0) per
share, for a total dividend payment of approximately
SEK 1,138m (0). The proposed dividend corresponds to 30% of income for
the period, excluding items affecting comparability. Tuesday, April 6,
2010, is proposed as record date for the dividend.
The Group's goal is for the dividend to correspond to at least 30% of
income for the period, excluding items affecting comparability.
Historically, the Electrolux dividend rate has been considerably higher
than 30%. Electrolux also has a long tradition of high total
distribution to shareholders that includes repurchases and redemptions
of shares as well as dividends.
No dividend was paid in 2008, as a consequence of the low income for the
period, the sharp decline in demand and the great uncertainty on the
development of the market for 2009.

Nomination Committee
In accordance with the decision by the Annual General Meeting in March
2009, Electrolux shall have a Nomination Committee consisting of six
members. The members should be one representative of each of the four
largest shareholders in terms of voting rights that wish to participate
in the committee, together with the Chairman of the Electrolux Board and
one additional Board member.
The members of the Nomination Committee have been appointed based on the
ownership structure as of August 31, 2009. Petra Hedengran, Investor AB,
is the Chairman of the committee. The other owner representatives are
Ramsay J. Brufer, Alecta Pension Insurance; Marianne Nilsson, Swedbank
Robur Funds, and Carina Lundberg Markow, Folksam Group. The committee
also includes Marcus Wallenberg and Peggy Bruzelius, Chairman and Deputy
Chairman, respectively, of Electrolux.
The committee will prepare proposals for the AGM in 2010, regarding
Chairman of the AGM, Board members, Chairman of the Board, remuneration
for Board members, Auditor, Auditor's fees and the procedure for
electing nomination committee for the following year.
Shareholders who wish to submit proposals to the nomination committee
should send an email to nominationcommittee@electrolux.com

Risks and uncertainty factors
Risks in connection with the Group's operations can, in general, be
divided into operational risks related to business operations and those
related to financial operations. Operational risks are normally managed
by the operative units within the Group, and financial risks by the
Group's treasury department.

Risks and uncertainty factors
Electrolux operates in competitive markets, most of which are relatively
mature. Demand for appliances varies with general business conditions,
and price competition is strong in a number of product categories.
Electrolux ability to increase profitability and shareholder value is
largely dependent on its success in developing innovative products and
maintaining cost-efficient production. Major factors for maintaining and
increasing competitiveness include managing fluctuations in prices for
raw materials and components as well as implementing restructuring. In
addition to these operative risks, the Group is exposed to risks related
to financial operations, e.g., interest risks, financing risks, currency
risks and credit risks. The Group's development is strongly affected by
external factors, of which the most important in terms of managing risks
currently include:

Variations in demand
Demand for appliances is affected by the general business cycle.
A deterioration in these conditions may lead to lower sales volumes as
well as a shift of demand to low-price products, which generally have
lower margins. Utilization of production capacity may also decline in
the short term. The global economic trend is an uncertainty factor in
terms of the development of earnings in 2010.

Price competition
A number of the markets in which Electrolux operates features strong
price competition. The Group's strategy is based on innovative products
and brand-building, and is aimed, among other things, at minimizing and
offsetting price competition for its products.
   A continued downturn in market conditions involves a risk of
increasing price competition.

Changes in prices for raw materials and components
The raw materials to which the Group is mainly exposed comprise steel,
plastics, copper and aluminum. Bilateral agreements are used to manage
price risks. To some extent, raw materials are purchased at spot prices.
There is considerable uncertainty regarding trends for the prices of raw
materials.

Access to financing
The Group's loan-maturity profile for 2010 and 2011 represents
maturities of approximately SEK 2,200m in long-term borrowings.
Electrolux has an unused revolving credit facility for long- or short-
term back-up.

Risks, risk management and risk exposure are described in more detail in
the Annual report 2008, www.electrolux.com/annualreport2008.
Parent company AB Electrolux
The Parent Company comprises the functions of the Group's head office,
as well as five companies operating on a commission basis for AB
Electrolux.
Net sales for the Parent Company, AB Electrolux, in 2009 amounted to SEK
5,928m (5,808), of which SEK 3,243m (3,026) referred to sales to Group
companies and SEK 2,685m (2,782) to external customers. Income after
financial items was SEK 3,161m (575), including dividends from
subsidiaries in the amount of SEK 3,178m (1,573). Income for the period
amounted to SEK 3,355m (663).
Capital expenditure in tangible and intangible assets was
SEK 415m (453). Liquid funds at the end of the period amounted to SEK
3,869m, as against SEK 4,045m at the start of the year.
Undistributed earnings in the Parent Company at the end of the period
amounted to SEK 12,694m, as against SEK 9,110m at the start of the year.
The income statement and balance sheet for the Parent Company are
presented on page 18.

                      Stockholm, February 3, 2010

                             Hans Stråberg
                           President and CEO

New accounting standards

IAS 1 Presentation of Financial Statements (Revised)
The Group has implemented the revised IAS 1, which is effective as of
January 1, 2009. As a consequence, the Group's consolidated income
statement includes items of other comprehensive income. Previously these
items were reported within consolidated equity. Consequently, the
consolidated equity statement is reported excluding these items. The
change does not imply any new information or changes in key ratios.

IFRS 8 Operating Segments
This new standard replaces IAS 14, Segment Reporting, and prescribes the
measurement and presentation of segments. Electrolux will report the
same segments as previously. The impact of the new standard will be
disclosed according to the standard, e.g., sales per country in the
Annual Report.
 The standard is effective for annual periods beginning on/or after
January 1, 2009. The Group has applied the additional disclosure
requirements in IAS 34, Interim Financial Reporting, in accordance with
the new standard. As a consequence, assets and liabilities per segment
are presented in the interim reports as from the
first quarter of 2009.

Accounting and valuation principles
This report has not been audited.



Electrolux applies International Financial Reporting Standards (IFRS) as
adopted by the European Union. This report has been prepared in
accordance with IAS 34, Interim Financial Reporting, and ÅRL, the
Swedish Annual Accounts Act and recommendation RFR 2, Accounting for
legal entities, issued by the Swedish Financial Reporting Board. There
are no changes in the Group's accounting and valuation principles
compared with the accounting and valuation principles described in Note
1 of the Annual Report 2008 and the description on new accounting
standards above.




Consolidated income statement

SEKm                                     Q4 2009 Q4 2008         2008
                                                         2009
Net sales                                28,215  28,663  109,132 104,792

Cost of goods sold                       -21,820 -24,129 -86,980 -86,795

Gross operating income                   6,395   4,534   22,152  17,997

Selling expenses                         -2,819  -3,413  -11,394 -11,788

Administrative expenses                  -1,506  -1,540  -5,375  -4,839

Other operating income/expenses          -47     30      -61     173

Items affecting comparability            -1,218  42      -1,561  -355

Operating income                         805     -347    3,761   1,188

Margin, %                                2.9     -1.2    3.4     1.1

Financial items, net                     -4      -183    -277    -535

Income after financial items             801     -530    3,484   653

Margin, %                                2.8     -1.8    3.2     0.6

Taxes                                    -137    56      -877    -287

Income for the period                    664     -474    2,607   366


Available for sale instruments1)         9       -11     138     -403

Cash-flow hedges2)                       41      -32     -112    21

Exchange differences on translation of
foreign operations3)                     630     900     -264    1,589

Income tax relating other comprehensive
income                                   -       -       -       -

Other comprehensive income, net of tax4) 680     857     -238    1,207

Total comprehensive income for the
period                                   1,344   383     2,369   1,573



Income for the period attributable to:

Equity holders of the Parent Company     664     -474    2,607   366

Non-controlling interests in income for
the period                               -       -       -       -


Total comprehensive income for the
period attributable to:

Equity holders of the Parent Company     1,344   383     2,369   1,573

Non-controlling interests in income for
the period                               -       -       -       -


Earnings per share, SEK                  2.34    -1.68   9.18    1.29

Diluted, SEK                             2.33    -1.68   9.16    1.29

Number of shares after buy-backs,
million                                  284.4   283.6   284.4   283.6

Average number of shares after buy-
backs, million                           284.4   283.6   284.0   283.1

Diluted, million                         285.4   283.6   284.6   283.2





1)  Available for sale instruments refer to the fair-value changes in
Electrolux share holdings in Videocon Industries Ltd., India. The share
holdings are classified as available for sale in accordance with IFRS.
2)  Cash-flow hedges refer to changes in valuation of currency contracts
used for hedging future foreign currency transactions. When the actual
transaction occurs, the result is reported within operating income.
3)  Exchange-rate differences on translation of foreign operations refer
to changes in exchange rates when net investments in foreign
subsidiaries are translated to SEK. The amount is reported net of
hedging contracts. In September, the Group changed source for the
exchange rate for the VEF (Venezuelan Bolivar Fuerte) from the official
rate to the parallel bank-market rate. This change in consolidation rate
reduced the SEK value of equity by SEK 179m in the third quarter.
4)  These items were previously reported within the financial statement;
Changes in consolidated equity.


Items affecting comparability

SEKm                                         Q4 2009 Q4 2008
                                                             2009   2008
Restructuring provisions and write-downs

Appliances plant in Alcalà, Spain            -440    0       -440   0

Appliances plants in Webster City and
Jefferson, USA                               -560    0       -560   0

Office consolidation in USA                  -218    0       -218   0

Appliances plant in Changsha, China          0       0       -162   0

Appliances plant in Porcia, Italy            0       0       -132   0

Appliances plant in St. Petersburg, Russia   0       0       -105   0

Appliances plants in Scandicci and Susegana,
Italy                                        0       -3      0      -487

Reversal of unused restructuring provisions  0       45      56     132

Total                                        -1,218  42      -1,561 -355









Consolidated balance sheet

SEKm                                         Dec. 31, 2009 Dec. 31, 2008

Assets

Property, plant and equipment                15,315        17,035

Goodwill                                     2,274         2,095

Other intangible assets                      2,999         2,823

Investments in associates                    19            27

Deferred tax assets                          2,693         3,180

Financial assets                             434           280

Other non-current assets                     1,745         1,472

Total non-current assets                     25,479        26,912

Inventories                                  10,050        12,680

Trade receivables                            20,173        20,734

Tax assets                                   1,103         511

Derivatives                                  377           1,425

Other current assets                         2,947         3,460

Short-term investments                       3,030         296

Cash and cash equivalents                    9,537         7,305

Total current assets                         47,217        46,411

Total assets                                 72,696        73,323


Equity and liabilities

Equity attributable to equity holders of the
Parent Company

Share capital                                1,545         1,545

Other paid-in capital                        2,905         2,905

Other reserves                               1,814         2,052

Retained earnings                            12,577        9,883

                                             18,841        16,385

Non-controlling interests                    0             0

Total equity                                 18,841        16,385

Long-term borrowings                         10,241        9,963

Deferred tax liabilities                     819           840

Provisions for post-employment benefits      2,168         6,864

Other provisions                             5,449         4,175

Total non-current liabilities                18,677        21,842

Accounts payable                             16,031        15,681

Tax liabilities                              2,367         2,329

Short-term liabilities                       11,235        10,644

Short-term borrowings                        3,364         3,168

Derivatives                                  351           784

Other provisions                             1,830         2,490

Total current liabilities                    35,178        35,096

Total equity and liabilities                 72,696        73,323


Contingent liabilities                       1,185         1,293










Shares

                                                            Shares held
                     Outstanding Outstanding Shares held by by other
Number of shares     A-shares    B-shares    Electrolux     shareholders

Number of shares as
of January 1, 2009   9,502,275   299,418,033 25,338,804     283,581,504

Shares sold to
senior managers
under the
stock-option
programs

First quarter                                0              0

Second quarter                               -533,285       533,285

Third quarter                                -180,878       180,878

Fourth quarter                               -125,800       125,800

Shares alloted to
senior managers
under the
Performance Share
Program                                      0              0

Number of shares as
of December 31, 2009 9,502,275   299,418,033 24,498,841     284,421,467

As % of total number
of shares                                    7.9%




Consolidated cash flow statement

SEKm                                       Q4 2009 Q4 2008
                                                           2009   2008
Operations

Operating income                           805     -347    3,761  1,188

Depreciation and amortization              874     876     3,442  3,010

Capital gain/loss included in operating
income                                     0       -31     0      -198

Restructuring provisions                   941     729     434    1,134

Share-based compensation                   7       0       18     -41

Financial items paid, net                  -128    -361    -348   -729

Taxes paid                                 -328    -272    -929   -918

Cash flow from operations, excluding
change
in operating assets and liabilities        2,171   594     6,378  3,446


Change in operating assets and liabilities

Change in inventories                      1,271   2,165   2,276  923

Change in trade receivables                1,453   2,285   1,209  1,869

Change in other current assets             260     27      487    -178

Change in accounts payable                 -826    -1,634  628    -686

Extra contributions to pension funds       -3,935  0       -3,935 0

Change in other operating liabilities and
provisions                                 -753    -1,217  1,254  -425

Cash flow from change in operating assets
and liabilities                            -2,530  1,626   1,919  1,503

Cash flow from operations                  -359    2,220   8,297  4,949


Investments

Divestment of operations                   0       -34     4      -34

Capital expenditure in property, plant and
equipment                                  -815    -1,031  -2,223 -3,158

Capitalization of product development      -57     -153    -370   -544

Other                                      -209    -36     -378   -19

Cash flow from investments                 -1,081  -1,254  -2,967 -3,755

Cash flow from operations and investments  -1,440  966     5,330  1,194


Financing

Change in short-term investments           -551    124     -2,734 -128

Change in short-term borrowings            194     166     -1,131 -681

New long-term borrowings                   0       932     1,639  5,289

Amortization of long-term borrowings       -473    -85     -1,040 -2,923

Dividend                                   0       0       0      -1,204

Sale of shares                             10      0       69     17

Cash flow from financing                   -820    1,137   -3,197 370


Total cash flow                            -2,260  2,103   2,133  1,564

Cash and cash equivalents at beginning of
period                                     11,579  4,937   7,305  5,546

Exchange-rate differences                  218     265     99     195

Cash and cash equivalents at end of period 9,537   7,305   9,537  7,305





Change in consolidated equity

SEKm                                      Dec. 31, Dec. 31,
                                          2009     2008
Opening balance                           16,385   16,040

Total comprehensive income for the period 2,369    1,573

Share-based payment                       18       -41

Sale of shares                            69       17

Dividend                                  0        -1,204

Total transactions with equity holders    87       -1,228

Closing balance                           18,841   16,385







Working capital and net assets

                             % of                         % of
                             annualized net               annualized net
SEKm           Dec. 31, 2009 sales          Dec. 31, 2008 sales

Inventories    10,050        8.8            12,680        11.0

Trade
receivables    20,173        17.7           20,734        17.9

Accounts
payable        -16,031       -14.1          -15,681       -13.6

Provisions     -9,447                       -13,529

Prepaid and
accrued income
and expenses   -7,998                       -7,263

Taxes and
other assets
and
liabilities    -1,901                       -2,072

Working
capital        -5,154        -4.5           -5,131        -4.4

Property,
plant and
equipment      15,315                       17,035

Goodwill       2,274                        2,095

Other non-
current assets 5,197                        4,602

Deferred tax
assets and
liabilities    1,874                        2,340

Net assets     19,506        17.1           20,941        18.1

Average net
assets         19,411        17.8           20,538        19.6

Average net
assets,
excluding
items
affecting
comparability  20,320        18.6           21,529        20.5






Key ratios

                                        Q4 2009 Q4 2008
                                                        2009    2008
Net sales, SEKm                         28,215  28,663  109,132 104,792

Operating income, SEKm                  805     -347    3,761   1,188

Margin, %                               2.9     -1.2    3.4     1.1

EBITDA, SEKm                            1,679   529     7,203   4,198

Earnings per share, SEK¹)               2.34    -1.68   9.18    1.29

Return on net assets, %                 -       -       19.4    5.8

Return on equity, %                     -       -       14.9    2.4

Equity per share, SEK                   -       -       66.24   57.78

Cash flow from operations, SEKm         -359    2,220   8,297   4,949

Capital expenditure, SEKm               -815    -1,031  -2,223  -3,158

Net borrowings, SEKm                    -       -       665     4,556

Net debt/equity ratio                   -       -       0.04    0.28

Equity/assets ratio, %                  -       -       31.8    25.6

Average number of employees             51,058  54,043  50,633  55,177


Excluding items affecting comparability

Operating income, SEKm                  2,023   -389    5,322   1,543

Margin, %                               7.2     -1.4    4.9     1.5

EBITDA, SEKm                            2,897   487     8,764   4,553

Earnings per share, SEK¹)               5.57    -1.82   13.56   2.32

Return on net assets, %                 -       -       26.2    7.2

Return on equity, %                     -       -       22.0    4.2

Value creation, SEKm                    1,447   -1,052  2,884   -1,040





1) Basic, based on average number of shares, excluding shares owned by
Electrolux, see page 16.

For definitions, see page 19.
Net sales by business area

SEKm                                     Q4 2009 Q4 2008
                                                         2009    2008
Consumer Durables, Europe                11,285  11,972  42,300  44,342

Consumer Durables, North America         7,865   8,928   35,726  32,801

Consumer Durables, Latin America         4,401   3,305   14,165  10,970

Consumer Durables, Asia/Pacific and Rest
of world                                 2,741   2,409   9,806   9,196

Professional Products                    1,923   2,021   7,129   7,427

Other                                    0       28      6       56

Total                                    28,215  28,663  109,132 104,792






Operating income by business area

SEKm                                        Q4 2009 Q4 2008
                                                            2009   2008
Consumer Durables, Europe                   829     -638    2,188  -22

Margin, %                                   7.3     -5.3    5.2    0.0

Consumer Durables, North America            450     -43     1,476  222

Margin, %                                   5.7     -0.5    4.1    0.7

Consumer Durables, Latin America            368     244     878    715

Margin, %                                   8.4     7.4     6.2    6.5

Consumer Durables, Asia/Pacific and Rest of
world                                       254     16      619    369

Margin, %                                   9.3     0.7     6.3    4.0

Professional Products                       225     181     668    774

Margin, %                                   11.7    9.0     9.4    10.4

Total business areas                        2,126   -240    5,829  2,058

Margin, %                                   7.5     -0.8    5.3    2.0


Common Group costs, etc.                    -103    -149    -507   -515

Items affecting comparability               -1,218  42      -1,561 -355

Operating income                            805     -347    3,761  1,188








Change in net sales by business area

                                         Q4 2009            2009 in
                                         in comparable      comparable
Year-over-year, %                Q4 2009 currencies         currencies
                                                       2009
Consumer Durables, Europe        -5.7    -5.8          -4.6 -10.6

Consumer Durables, North America -11.9   -4.1          8.9  -4.8

Consumer Durables, Latin America 33.2    25.3          29.1 22.3

Consumer Durables, Asia/Pacific
and Rest of world                13.8    5.4           6.6  -3.0

Professional Products            -4.8    -4.5          -4.0 -11.1

Total change                     -1.6    -0.6          4.1  -4.8







Change in operating income by business area

                                         Q4 2009             2009 in
                                         in comparable       comparable
Year-over-year, %                Q4 2009 currencies          currencies
                                                       2009
Consumer Durables, Europe        n/a     n/a           n/a   n/a

Consumer Durables, North America n/a     n/a           564.9 515.0

Consumer Durables, Latin America 50.8    47.8          22.8  18.3

Consumer Durables, Asia/Pacific
and Rest of world                1,487.5 581.6         67.8  58.3

Professional Products            24.3    22.7          -13.7 -19.9

Total change, excluding items
affecting comparability          620.1   574.2         244.9 236.7









Exchange rates

SEK                Dec. 31, 2009 Dec. 31, 2008

AUD, average       5.98          5.56

AUD, end of period 6.43          5.34

BRL, average       3.80          3.62

BRL, end of period 4.13          3.30

CAD, average       6.68          6.21

CAD, end of period 6.86          6.26

EUR, average       10.63         9.67

EUR, end of period 10.33         10.93

GBP, average       11.84         12.11

GBP, end of period 11.41         11.19

HUF, average       0.0380        0.0385

HUF, end of period 0.0379        0.0411

USD, average       7.63          6.59

USD, end of period 7.19          7.70








Net sales and income per quarter

SEKm                             Q1     Q2     Q3     Q4     Full year

Net sales              2009      25,818 27,482 27,617 28,215 109,132

                       2008      24,193 25,587 26,349 28,663 104,792

Operating income       2009      -386   1,052  2,290  805    3,761

                       Margin, % -1.5   3.8    8.3    2.9    3.4

                       2009¹)    38     1,027  2,234  2,023  5,322

                       Margin, % 0.1    3.7    8.1    7.2    4.9

                       2008      -5     254    1,286  -347   1,188

                       Margin, % 0.0    1.0    4.9    -1.2   1.1

                       2008¹)    -39    793    1,178  -389   1,543

                       Margin, % -0.2   3.1    4.5    -1.4   1.5

Income after financial
items                  2009      -493   932    2,244  801    3,484

                       Margin, % -1.9   3.4    8.1    2.8    3.2

                       2009¹)    -69    907    2,188  2,019  5,045

                       Margin, % -0.3   3.3    7.9    7.2    4.6

                       2008      -149   140    1,192  -530   653

                       Margin, % -0.6   0.5    4.5    -1.8   0.6

                       2008¹)    -183   679    1,084  -572   1,008

                       Margin, % -0.8   2.7    4.1    -2.0   1.0

Income for the period  2009      -346   658    1,631  664    2,607

                       2008      -106   99     847    -474   366

Earnings per share,
SEK²)                  2009      -1.22  2.32   5.74   2.34   9.18

                       2009¹)    0.21   2.23   5.55   5.57   13.56

                       2008      -0.38  0.36   2.99   -1.68  1.29

                       2008¹)    -0.50  1.74   2.90   -1.82  2.32

Value creation         2009      -619   389    1,667  1,447  2,884

                       2008      -695   175    532    -1,052 -1,040






1) Excluding items affecting comparability.
2) Basic, based on average number of shares, excluding shares owned by
Electrolux.







Number of shares, basic

Number of shares after buy-backs,
million                             2009 283.6 284.1 284.3 284.4  284.4

                                    2008 283.4 283.6 283.6 283.6  283.6

Average number of shares after buy-
backs, million                      2009 283.6 283.9 284.2 284.4  284.0

                                    2008 282.1 283.5 283.6 283.6  283.1


Items affecting comparability

Restructuring provisions, write-
downs and capital                   2009 -424  25    56    -1,218 -1,561

loss on divestment, SEKm            2008 34    -539  108   42     -355








Net sales by business area per quarter

SEKm                           Q1     Q2     Q3     Q4     Full year

Consumer Durables, Europe 2009 10,175 9,935  10,905 11,285 42,300

                          2008 10,525 10,500 11,345 11,972 44,342

Consumer Durables, North
America                   2009 9,144  9,848  8,869  7,865  35,726

                          2008 7,275  8,214  8,384  8,928  32,801

Consumer Durables, Latin
America                   2009 2,625  3,326  3,813  4,401  14,165

                          2008 2,404  2,548  2,713  3,305  10,970

Consumer Durables, Asia/
Pacific and Rest of world 2009 2,145  2,521  2,399  2,741  9,806

                          2008 2,228  2,369  2,190  2,409  9,196

Professional Products     2009 1,727  1,850  1,629  1,923  7,129

                          2008 1,753  1,944  1,709  2,021  7,427








Operating income by business area per quarter

SEKm                                    Q1   Q2   Q3   Q4     Full year

Consumer Durables, Europe     2009      125  257  977  829    2,188

                              Margin, % 1.2  2.6  9.0  7.3    5.2

                              2008      -192 294  514  -638   -22

                              Margin, % -1.8 2.8  4.5  -5.3   0.0

Consumer Durables, North
America                       2009      -177 498  705  450    1,476

                              Margin, % -1.9 5.1  7.9  5.7    4.1

                              2008      -154 113  306  -43    222

                              Margin, % -2.1 1.4  3.6  -0.5   0.7

Consumer Durables, Latin
America                       2009      50   142  318  368    878

                              Margin, % 1.9  4.3  8.3  8.4    6.2

                              2008      156  133  182  244    715

                              Margin, % 6.5  5.2  6.7  7.4    6.5

Consumer Durables, Asia/
Pacific and Rest of world     2009      60   104  201  254    619

                              Margin, % 2.8  4.1  8.4  9.3    6.3

                              2008      105  147  101  16     369

                              Margin, % 4.7  6.2  4.6  0.7    4.0

Professional Products         2009      105  165  173  225    668

                              Margin, % 6.1  8.9  10.6 11.7   9.4

                              2008      183  225  185  181    774

                              Margin, % 10.4 11.6 10.8 9.0    10.4

Common Group costs, etc.      2009      -125 -139 -140 -103   -507

                              2008      -137 -119 -110 -149   -515

Items affecting comparability 2009      -424 25   56   -1,218 -1,561

                              2008      34   -539 108  42     -355








Net assets by business area

                   Assets       Equity and liabilities    Net assets

              Dec. 31,          Dec. 31,
SEKm          2009     Dec. 31, 2009     Dec. 31,      Dec. 31, Dec. 31,
                       2008              2008          2009     2008
Consumer
Durables,
Europe        33,633   28,345   25,982   21,104        7,651    7,241

Consumer
Durables,
North America 8,336    15,422   438      7,089         7,898    8,333

Consumer
Durables,
Latin America 5,854    6,536    2,664    2,971         3,190    3,565

Consumer
Durables,
Asia/Pacific
and Rest of
world         3,561    4,885    1,479    2,169         2,082    2,716

Professional
Products      2,413    3,720    1,345    2,393         1,068    1,327

Other1)       5,738    4,938    6,685    6,596         -947     -1,658

Items
affecting
comparability -196     87       1,240    670           -1,436   -583

Total
operating
assets and    59,339   63,933   39,833   42,992        19,506   20,941
liabilities
Liquid funds  13,357   9,390    -        -             -        -

Interest-
bearing
receivables   -        -        -        -             -        -

Interest-
bearing
liabilities   -        -        14,022   13,946        -        -

Equity        -        -        18,841   16,385        -        -

Total         72,696   73,323   72,696   73,323        -        -





1) Includes common Group functions.
Parent Company, income statement

                                                      Q4    Q4
SEKm                                                  2009  2008
                                                                  2009  2008
Net sales                                             2,294 1,709 5,928 5,808

                                                      -     -     -     -
Cost of goods sold                                    1,321 1,345 4,368 5,046

Gross operating income                                973   364   1,560 762

Selling expenses                                      -410  -246  -865  -761

Administrative expenses                               -199  27    -367  -312

Other operating income                                -33   -64   160   33

Other operating                                                   -
expenses                                              -121  -319  1,083 -328

Operating income                                      210   -238  -595  -606

Financial income                                      2,071 946   3,989 2,643

                                                                        -
Financial expenses                                    -109  -524  -233  1,462

Financial items, net                                  1,962 422   3,756 1,181

Income after financial items                          2,172 184   3,161 575

Appropriations                                        0     10    20    20

Income before taxes                                   2,172 194   3,181 595

Taxes
                                                      148   -3    174   38

Income for the period                                 2,320 191   3,355 633








Parent Company, balance sheet

SEKm                         Dec. 31, 2009 Dec. 31, 2008

Assets

Non-current assets           26,901        26,493

Current assets               20,604        20,348

Total assets                 47,505        46,841


Equity and liabilities

Restricted equity            4,562         4,562

Non-restricted equity        12,694        9,110

Total equity                 17,256        13,672

Untaxed reserves             684           704

Provisions                   584           618

Non-current liabilities      9,512         9,244

Current liabilities          19,469        22,603

Total equity and liabilities 47,505        46,841


Pledged assets               4             36

Contingent liabilities       1,818         1,720










Five-year review

                                                              Including
                                                              Husqvarna

                      2009    2008    2007    2006    2005    2005

Net sales, SEKm       109,132 104,792 104,732 103,848 100,701 129,469

Operating income,
SEKm                  3,761   1,188   4,475   4,033   1,044   3,942

Margin, %             3.4     1.1     4.3     3.9     1.0     3.0

Margin, excluding
items affecting
comparability, %      4.9     1.5     4.6     4.4     4.0     5.4

Income after
financial items, SEKm 3,484   653     4,035   3,825   494     3,215

Margin, %             3.2     0.6     3.9     3.7     0.5     2.5

Margin, excluding
items
affecting
comparability, %      4.6     1.0     4.2     4.2     3.4     4.8

Income for the
period, SEKm          2,607   366     2,925   2,648   -142    1,763

Earnings per share,
SEK                   9.18    1.29    10.41   9.17    -0.49   6.05

Average number of
shares after
buy-backs, million    284.0   283.1   281.0   288.8   291.4   291.4

Dividend, SEK         4.001)  -       4.25    4.00    7.50    7.50

Value creation, SEKm  2,884   -1,040  2,053   2,202   1,305   2,913

Return on equity, %   14.9    2.4     20.3    18.7    -       7.0

Return on net assets,
%                     19.4    5.8     21.7    23.2    5.4     13.0

Net debt/equity ratio 0.04    0.28    0.29    -0.02   -       0.11

Capital expenditure,
SEKm                  2,223   3,158   3,430   3,152   3,654   4,765

Average number of
employees             50,633  55,177  56,898  55,471  57,842  69,523




1) Proposed by the Board of Directors.
Definitions
Capital indicators
Annualized sales
In computation of key ratios where capital is related to net sales, the
latter are annualized and converted at year-end-exchange rates and
adjusted for acquired and divested operations.

Net assets
Total assets exclusive of liquid funds and interest-bearing financial
receivables less operating liabilities, non-interest-bearing provisions
and deferred tax liabilities.

Working capital
Current assets exclusive of liquid funds and interest-bearing financial
receivables less operating liabilities and non-interest-bearing
provisions.

Total borrowings
Total borrowings consist of interest-bearing liabilities, fair-value
derivatives, accrued interest expenses and prepaid interest
income, and trade receivables with recourse.

Net borrowings
Total borrowings less liquid funds.

Net debt/equity ratio
Net borrowings in relation to equity.

Equity/assets ratio
Equity as a percentage of total assets less liquid funds.

Other key ratios
Earnings per share
Income for the period divided by the average number of shares after buy-
backs.

Operating margin
Operating income expressed as a percentage of net sales.

EBITDA
Operating income before depreciation and amortization.

Value creation
Operating income excluding items affecting comparability less the
weighted average cost of capital (WACC) on average net assets excluding
items affecting comparability: [(Net sales - operating costs = operating
income) - (WACC x average net assets)]. The WACC rate before tax for
2009, 2008 and 2007 is calculated at 12% compared to 11% for 2006 and
12% for 2005.

Return on equity
Income for the period expressed as a percentage of average equity.

Return on net assets
Operating income expressed as a percentage of average net assets.

President and CEO Hans Stråberg's
comments on the fourth-quarter and
full-year results 2009
Today's press release is available on the Electrolux website
www.electrolux.com/ir

Presentation at Electrolux headquarters
A presentation will be held at 15.30 CET on February 3, 2010
at Electrolux headquarters, S:t Göransgatan 143 in Stockholm,
Sweden. The presentation will be chaired by Hans Stråberg, President and
CEO of Electrolux. Mr. Stråberg will be accompanied by Jonas Samuelson,
CFO, and Peter Nyquist, Head of Investor Relations and Financial
Information.

A slide presentation for the fourth-quarter and full-year results of
2009 will be available on the Electrolux website
www.electrolux.com/ir

If you are not able to participate in person at Electrolux
headquarters, you can also participate by telephone. The details for
participation by telephone are as follows:

Participants in Sweden should call +46 (0)8 505 598 53
Participants in UK/Europe should call +44 (0)20 3043 2436
Participants in US should call +1 866 458 4087

You can also listen to the presentation at
http://www.electrolux.com/webcast1

For further information
Peter Nyquist, Head of Investor Relations and Financial
Information: +46 (0)8 738 60 03.

Financial information from Electrolux is also available at
www.electrolux.com/ir



Factors affecting forward-looking statements
This report contains "forward-looking" statements within the meaning of
the US Private Securities Litigation Reform Act of 1995. Such statements
include, among others, the financial goals and targets of Electrolux for
future periods and future business and financial plans. These statements
are based on current expectations and are subject to risks and
uncertainties that could cause actual results to differ materially due
to a variety of factors. These factors include, but may not be limited
to the following; consumer demand and market conditions in the
geographical areas and industries in which Electrolux operates, effects
of currency fluctuations, competitive pressures to reduce prices,
significant loss of business from major retailers, the success in
developing new products and marketing initiatives, developments in
product liability litigation, progress in achieving operational and
capital efficiency goals, the success in identifying growth
opportunities and acquisition candidates and the integration of these
opportunities with existing businesses, progress in achieving structural
and supply-chain reorganization goals.
Calendar 2010
Financial reports 2010

Interim report January-March     April 27

Interim report January-June      July 19

Interim report January-September October 27







Annual Report 2009

Available at the Group's website Week 10









Annual General Meeting 2010
The Annual General Meeting of AB Electrolux will be held on Tuesday,
March 30, 2010, at the Berwald Hall, Dag Hammarskjölds väg 3, Stockholm,
Sweden.
Electrolux discloses the information provided herein pursuant to the
Securities Market Act and/or the Financial Instruments Trading Act. The
information was submitted for publication at 08.00 CET on February 3,
2010.