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.
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