HUSQVARNA GROUP: INTERIM REPORT JANUARY - SEPTEMBER 2024
Third quarter 2024
- Net sales decreased by 7% to
SEK 9,739m (10,512). Changes in exchange rates impacted by -3%. Organic sales decreased by 4%. - Planned exits of low-margin petrol-powered business have been completed, with no sales impact in the quarter.
- Operating income was
SEK 52m (398) and the operating margin was 0.5% (3.8). - Excluding items affecting comparability, the operating income amounted to
SEK 53m (415) and the operating margin was 0.5% (3.9). - Earnings per share before dilution amounted to
SEK -0.27 (0.22) and earnings per share after dilution amounted toSEK -0.27 (0.22). - Cash flow from operations and investments amounted to
SEK 2,892m (137). Direct operating cash flow wasSEK 4,020m (1,814). - In October, additional cost reduction activities were announced. These include cost savings of
SEK 500m .
January –
- Net sales decreased by 11% to
SEK 39,888m (44,655). Changes in exchange rates impacted by -1%. - Planned exits of low-margin petrol-powered business impacted with -3%. Organic sales decreased by 7%.
- Operating income was
SEK 3,882m (4,863) and the operating margin was 9.7% (10.9). - Excluding items affecting comparability, the operating income amounted to
SEK 3,889m (5,138) and the operating margin was 9.8% (11.5). - Earnings per share before dilution amounted to
SEK 4.27 (5.59) and earnings per share after dilution amounted toSEK 4 .26 (5.56). - Cash flow from operations and investments was SEK 5,296m (5,157). Direct operating cash flow was SEK 6,323m (6,018).
Growth in the strategic areas robotics and battery
"In the third quarter, we delivered growth in our strategic focus areas robotic mowers and battery-powered products, as well as a strong cash flow. However, organic sales for the Group decreased by 4%, which reflects a challenging market situation with restrained consumer spending.
Organic sales in the
Organic sales in the Gardena Division decreased by 8%, with good performance for hand tools and battery-powered products. However, sales of watering products decreased during the start of the quarter, due to challenging weather conditions, but improved gradually.
In the Husqvarna Construction Division, organic sales decreased by 8%. The challenging market situation, with weak demand in
Operating income, excluding items affecting comparability, amounted to
Our direct operating cash flow grew to
In response to the challenging market environment, we have accelerated existing cost-savings programs with good results. Realized savings amounted to
Further mitigating activities to reduce fixed costs and enhance efficiency across the Group are announced today. Savings will amount to
Despite the challenging environment, we are focused on executing our strategy and positioning the Group for long-term value creation. We continue to invest in our growth areas and look forward to our ambitious product launch program for the gardening season 2025. This will feature a wide range of new products, including 13 new robotic mower models equipped with the latest generation of intelligence and boundary wire free navigation."
Webcast presentation and telephone conference
A webcast presentation of the Q3 report hosted by
To view the presentation, please use the link:
https://husqvarnagroup.creo.se/cedeece6-0700-4eb4-8457-f49a744d3dd3
The dial-in to the telephone conference (in order to ask questions):
+46 (0) 8 505 100 31 (
Dates for Financial Reports 2025
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Year-end report for January- |
|
Interim report for January- |
|
Interim report for January- |
October 21 |
Interim report for January- |
Contacts
+46 8 738 90 00
+46 702 100 451
Regeringsgatan 28, +46 8 738 90 00, www.husqvarnagroup.com
Reg. Nr: 556000-5331
NASDAQ OMX Stockholm: HUSQ A, HUSQ B
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Interim report Q3 2024 |
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