As of September 30, 2024, Electrolux had a financial net debt (excluding lease liabilities and post-employment provisions) of SEK 24,632m, compared to the financial net debt of SEK 23,870m as of September 30, 2023, and SEK 20,871m as of December 31, 2023. Net provisions for post-employment benefits amounted to a deficit of SEK 606m and lease liabilities amounted to SEK 4,555m as of September 30, 2024. In total, net debt amounted to SEK 29,793m, an increase of SEK 3,567m compared to SEK 26,226m per December 31, 2023, but was almost in line with September 30, 2023, of SEK 29,389m.
Long-term borrowings and long-term borrowings with maturities within 12 months amounted to a total of SEK 37,648m as of September 30, 2024, with an average maturity of 3.1 years, compared to SEK 33,276m and 3.5 years at the end of 2023.
In the third quarter, amortization of long-term borrowings amounted to SEK 354m and a total of SEK 1,024m of new long-term debt was issued. In September, Electrolux issued a sustainability-linked bond of USD 100m under the Electrolux Euro Medium Term Note (EMTN) program. During the remaining part of 2024, long-term borrowings amounting to approximately SEK 3,050m, will mature.
Liquid funds as of September 30, 2024, amounted to SEK 16,592m, an increase of SEK 923m compared to SEK 15,669m as of December 31, 2023. Total liquidity, including the revolving credit facilities, amounted to SEK 33,892m compared to SEK 32,765m as of December 31, 2023. In September, the maturity date of one of the SEK 3,000m revolving credit facilities was extended with one year, to 2026.
Net debt/EBITDA was 4.9 (4.4) and return on equity was -19.8% (-9.0).