Debt market

As of June 30, 2019, Electrolux had a financial net debt position (excluding lease liabilities and post-employment provisions) of SEK 3,463m, compared to the financial net cash position of SEK 1,989m as of December 31, 2018. Net provisions for post-employment benefits increased to SEK 4,099m. Lease liabilities amounted to SEK 3,465m as of June 30, 2019 and is an effect of the application of IFRS 16 as from January 1, 2019. In total, net debt amounted to SEK 11,027m, an increase by SEK 9,202m compared to SEK 1,825m per December 31, 2018.

Long-term borrowings and long-term borrowings with maturities within 12 months amounted to a total of SEK 9,832m as of June 30, 2019 with average maturity of 2.8 years, compared to SEK 8,553m and 2.6 years at the end of 2018.

In the second quarter, a new long-term bond loan of SEK 1.25bn was raised to refinance a SEK 1bn maturity and long-term bilateral borrowings in the amount of SEK 77m were amortized. During the remaining part of 2019, long-term borrowings amounting to approximately SEK 1.2bn will mature.

Liquid funds as of June 30, 2019, amounted to SEK 8,217m, a decrease of SEK 4,032m compared to SEK 12,249m as of December 31, 2018.