| SEKm | Note | 2013 | 2014 |
|---|---|---|---|
| Net sales | 28,856 | 29,508 | |
| Cost of goods sold | –25,382 | –25,477 | |
| Gross operating income | 3,474 | 4,031 | |
| Selling expenses | –3,783 | –3,430 | |
| Administrative expenses | –1,196 | –1,208 | |
| Other operating income | 5 | 9 | — |
| Other operating expenses | 6 | –1,874 | –645 |
| Operating income | –3,370 | –1,252 | |
| Financial income | 9 | 2,335 | 3,105 |
| Financial expenses | 9 | –826 | –455 |
| Financial items, net | 1,509 | 2,650 | |
| Income after financial items | –1,861 | 1,398 | |
| Appropriations | 21 | 187 | 355 |
| Income before taxes | –1,674 | 1,753 | |
| Taxes | 10 | 765 | 77 |
| Income for the period | –909 | 1,830 |
| SEKm | Note | 2013 | 2014 |
|---|---|---|---|
| Income for the period | –909 | 1,830 | |
| Other comprehensive income | |||
| Available for sale instruments | –68 | 17 | |
| Cash flow hedges | 28 | 2 | |
| Income tax relating to other comprehensive income | –6 | –1 | |
| Other comprehensive income, net of tax | –46 | 18 | |
| Total comprehensive income for the period | –955 | 1,848 |
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, for the full year of 2014 amounted to SEK 29,508m (28,856), of which SEK 23,757m (23,484) referred to sales to Group companies and SEK 5,751m (5,372) to external customers. The majority of the Parent Company’s sales was made within Europe.
Income after financial items was SEK 1,398m (–1,861), including dividends from subsidiaries in the amount of SEK 2,616m (2,004). Income for the period amounted to SEK 1,830m (–909).
Income tax related to group contributions is reported in the income statement. Income tax related to cash flow hedges is reported in other comprehensive income.
Capital expenditure in tangible and intangible assets was SEK 255m (524). Liquid funds at the end of the period amounted to SEK 4,601m, as against SEK 2,795m at the start of the year.
Undistributed earnings in the Parent Company at the end of the period amounted to SEK 12,617m, as against SEK 12,531m at the start of the year. Dividend payment to shareholders in 2014 amounted to SEK 1,861m.
For information on the number of employees as well as salaries and remuneration, see Note 27. For information on shareholdings and participations, see Note 29.