PR Newswire
STOCKHOLM, Oct. 23, 2024 /PRNewswire/ -- Growth in the strategic areas robotics and battery
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 to SEK -0.27 (0.22). Cash flow from operations and investments amounted to SEK 2,892m (137). Direct operating cash flow was SEK 4,020m (1,814). In October, additional cost reduction activities were announced. These include cost savings of SEK 500m.STOCKHOLM, Oct. 23, 2024 /PRNewswire/ -- Husqvarna Group is initiating further cost reductions and profitability initiatives to address the challenging market and constrained consumer spending. These measures are expected to result in fixed cost savings of SEK 500m per year and will impact approximately 400 positions across the Group.
The new cost saving measures announced today are in addition to the ongoing cost savings programs launched in 2022 and 2023, where the Group is reducing costs to enable increased investments in its strategic value creation areas: robotic mowers, battery products, watering, and professional solutions.
STOCKHOLM, Oct. 18, 2024 /PRNewswire/ -- Maha Elkharbotly has been appointed President of the Gardena Division and will also be a member of Husqvarna Group's executive management team.
Maha Elkharbotly holds an MBA in Marketing from the University of Illinois and is currently President at I-Health, a wholly owned subsidiary of DSM Firmenich. Maha has previously held multiple executive positions at DSM Firmenich, LIXIL, Grohe and Whirlpool.
"I am very pleased to welcome Maha to Husqvarna Group. Her broad experience and strong knowledge in sales, marketing, channel management and leadership will be valuable assets in the continued journey of Gardena. Maha brings vast experience from building brands as well as driving international expansion, innovation and business transformation. This expertise will be central to continue building Gardena's position as a global leader in watering, as well as advancing smart garden systems including robotic mowers for passionate gardeners", says Pavel Hajman, CEO of Husqvarna Group.
STOCKHOLM, Oct. 8, 2024 /PRNewswire/ -- Husqvarna Group will publish its third quarter results on October 23, 2024, at approximately 07:00 CET. A combined webcast and conference call hosted by CEO Pavel Hajman and CFO Terry Burke will be held at 10:00 CET the same day. The presentation will be held in English and followed by a Q&A session.
Link to the webcast: https://husqvarnagroup.creo.se/cedeece6-0700-4eb4-8457-f49a744d3dd3
To join the telephone conference:Sweden: +46 (0)8 505 100 31United Kingdom: +44 (0) 207 107 06 13United States: +1 (1) 631 570 56 13
STOCKHOLM, Sept. 20, 2024 /PRNewswire/ -- The members of the Nomination Committee for the Husqvarna AB 2025 Annual General Meeting ("AGM") have now been appointed, as follows:
Petra Hedengran (Chair, appointed by Investor AB)Louise Lindh (appointed by L E Lundbergföretagen AB)Fredrik Ahlin (appointed by If Skadeförsäkring AB)Oskar Börjesson (appointed by Livförsäkringsbolaget Skandia)Tom Johnstone (Board Chair of Husqvarna AB)
Such appointments have been made in accordance with the rules last approved by the Husqvarna AB AGM. Those rules state that the Nomination Committee shall consist of one representative of each of the four largest shareholders in the Company (in terms of voting rights) as of the last banking day of August, who have upon request expressed a wish to participate in the nomination committee work, together with the Chair of the Board of Directors.
STOCKHOLM, Sept. 10, 2024 /PRNewswire/ -- Challenging market conditions and restrained consumer spending continue to have an impact on the Group's sales and operating result in the third quarter. In addition, the gardening season is gradually coming to an end with retail partners and servicing dealers reducing their inventory levels.
Cash flow is expected to remain strong, partly driven by reductions in the Group's inventory levels.
As a result of these combined factors, the Group's organic sales for the third quarter are expected to decline by approximately 5%, compared to the previous year with an approximately break-even operating income result. Margins are also negatively impacted by lower capacity utilization and promotional activities.
STOCKHOLM, Aug. 23, 2024 /PRNewswire/ -- Husqvarna Group has signed an agreement to acquire the Brazilian company InCeres, a digital platform in the Professional light agriculture segment. InCeres is an expert in soil analysis that facilitates decision-making and improves productivity for farmers. Its precise agriculture digital platform will act as the cornerstone for establishing Husqvarna Group's Total Farm Management offering in the Light Agriculture business unit within the Husqvarna Forest & Garden Division.
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