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HUSQVARNA GROUP: INTERIM REPORT JANUARY – SEPTEMBER 2024

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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.

January – September 2024           

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 to SEK 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 Husqvarna Forest & Garden Division decreased by 1%. We grew in robotic mowers, in both the professional and residential markets as well as in battery-powered products. The division achieved growth in Europe, while the business decreased in North America.

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 North America continued, while sales in Europe grew.

Operating income, excluding items affecting comparability, amounted to SEK 53m (415). The decrease was driven by lower volumes, leading to lower capacity utilization in production, as well as the impact of increased promotional activities toward the end of the gardening season.

Our direct operating cash flow grew to SEK 4.0bn (1.8), driven by continued inventory reductions and a strengthened cash flow from the decrease in trade receivables. 

In response to the challenging market environment, we have accelerated existing cost-savings programs with good results. Realized savings amounted to SEK 190m during the quarter and SEK 590m for the nine-month period.  

Further mitigating activities to reduce fixed costs and enhance efficiency across the Group are announced today. Savings will amount to SEK 500m, with the majority realized in 2025. As part of this plan, the Group expects to reduce 400 positions. Non-recurring costs related to these savings are expected to amount to SEK 600m and will be recognized in the fourth quarter. We are committed to identifying and implementing additional efficiency measures to further enhance our operational structure and effectiveness.

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.”

Pavel Hajman, CEO 

Webcast presentation and telephone conference
A webcast presentation of the Q3 report hosted by Pavel Hajman, CEO and Terry Burke, CFO will be held at 10:00 CET on October 23, 2024.

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 (Sweden) or +44 207 107 06 13 (UK)

Dates for Financial Reports 2025

February 5

Year-end report for January-December 2024

April 24

Interim report for January-March 2025

July 18

Interim report for January-June 2025

October 21          

Interim report for January-September 2025

Contacts
Terry Burke, CFO and Executive Vice President, Finance, IR & Communication 
+46 8 738 90 00

Johan Andersson, Vice President, Investor Relations 
+46 702 100 451

Husqvarna AB (publ), P.O. Box 7454, SE-103 92 Stockholm
Regeringsgatan 28, +46 8 738 90 00, www.husqvarnagroup.com 

Reg. Nr: 556000-5331
NASDAQ OMX Stockholm: HUSQ A, HUSQ B

This report contains insider information that Husqvarna AB is required to disclose under the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the contact person set out above, at 07.00 CET on October 23, 2024.

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/husqvarna-group/r/interim-report-january—september-2024,c4055016

The following files are available for download:

https://mb.cision.com/Main/996/4055016/3069001.pdf

Interim report Q3 2024 Husqvarna Group (PDF)

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SOURCE Husqvarna Group

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Ten-Year Milestone: Infinitus Yingkou Plant Ushers in a New Chapter in Green Supply Chain

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GUANGZHOU, China, Oct. 23, 2024 /PRNewswire/ — On October 20, 2024, the Infinitus Yingkou plant hosted the 10th Anniversary Celebration Conference and the “Building a Green Supply Brand” – Grid Connection Ceremony for its Phase II PV Project in Yingkou City, Liaoning Province.

As Infinitus’s second production facility, the Yingkou plant marked its ten-year milestone with a series of celebratory events, including special interviews with key figures from the past decade and themed tours that highlighted the company’s growth and achievements. A significant aspect of the celebration was the grid-connection ceremony for the plant’s phase II PV project. The event was attended by Infinitus Global CEO Lam Yu, Infinitus (China) Company Ltd. CEO Huang Jianlong, and several industry experts, all of whom gathered to acknowledge the plant’s advancements in clean energy.

In his keynote address at the conference, Liu Yaojun, the General Manager of Product Supply at Infinitus (China), reflected on the company’s decade of progress. He highlighted the Yingkou facility’s commitment to maintaining high standards of product quality and its success in overcoming numerous challenges, which have driven significant growth and earned the plant several accolades. Looking forward, Liu reaffirmed the facility’s dedication to its customer-focused approach and stressed the importance of teamwork as they move into the next decade.

A Decade of Growth: Embedding the Green Concept in People’s Minds

The Infinitus Yingkou plant commenced operations on October 16, 2014. Spanning approx. 350,000 square meters, the facility houses five workshops: beverages, polysaccharides, extraction, oral formulations, and solid formulations. Over the years, it has developed five product series, including beverages, oral liquids, capsules, tablets, and powders. To date, the factory has generated sales of 37.48 billion yuan and exports its products to numerous countries and regions, with key destinations including Malaysia, Singapore, Kazakhstan, Thailand, and South Korea as well as Hong Kong, Macao and Taiwan.

The Yingkou plant also serves as an immersive experience space that integrates displays, experiences, and communications. The facility has become a key platform for showcasing Infinitus’s corporate culture and product offerings. It has also been designated as a national AAA-level tourist attraction, a national food science education hub, and a national green factory. To commemorate the 10th anniversary, Infinitus (Yingkou) Co., Ltd. organized a themed tour featuring factory introductions and interactive exhibits in the showroom corridor. The initiative highlighted the transformation of an internationalized production facility into “a factory that does not look like a factory.” Through a blend of online and offline experiences, the tour provided a comprehensive view of the green eco-park, PV project, and eco-friendly logistic facilities within the plant.

“A significant portion of the materials used in our eco-park are repurposed from workshop waste, such as fences made from discarded wooden crates, plant containers from used packaging, and fountains utilizing filtered and recycled wastewater,” explained Gao Yilin, the administrator overseeing visits to the plant. The approach not only embodies the plant’s green philosophy of “turning waste into treasure” and enhancing energy efficiency but also illustrates the broader commitment to sustainable practices in manufacturing and supply chains. Through these efforts, the plant aims to deepen visitors’ understanding of its commitment to environmental responsibility.

Infinitus Yingkou Plant’s Phase II PV Project Completed, Creating a Sustainable Supply Chain

The second phase of the PV project at Infinitus (Yingkou) Co. was launched on May 20, 2024, and completed following several months of construction. The ceremony marking its completion drew notable attendees, including Zhang Yu, Deputy Director of the Management Committee and Member of the Party Working Committee of Yingkou Economic and Technological Development Zone; Lam Yu, Vice Chairman of Infinitus (China), and CEO of Infinitus Global; and Huang Jianlong, CEO of Infinitus (China). Distinguished participants also included Yao Hongrui, Vice President and Chief Marketing Officer of Infinitus (China); Liu Yi, Vice President and Chief Talent Officer of Infinitus (China); and Liu Yaojun, General Manager of Product Supply at Infinitus (China). These guests, along with Yuan Bo’en, Director of the Infinitus Yingkou plant, and Sun Tao, Deputy Director of Yingkou Power Plant of Huaneng Power International, jointly unveiled the completed facility before conducting an on-site tour.

“‘Si Li Ji Ren’ – Considering Collective Benefits before Acting – embodies Infinitus’s distinctive corporate culture, signifying our commitment to considering the interests of all stakeholders while pursuing our own growth,” stated the Infinitus Yingkou plant director, Mr. Yuan at the event. He emphasized Infinitus’s dedication to green and low-carbon growth, and its plan to incorporate Environmental, Social, and Governance (ESG) principles into the company’s transformation roadmap. With green and low-carbon initiatives at the heart of ESG, the Yingkou facility is actively implementing Infinitus’s overall strategy for a sustainable supply chain. The core objective is to create a model of sustainability within the industry.  

To further establish itself as a “Green Factory,” the Infinitus Yingkou plant prioritizes environmental protection at every stage, from design and planning to construction and production. The facility has increased its use of renewable energy and incorporated eco-friendly materials into every stage of its construction. Currently, the plant’s Phase II PV power project generates 5.8 million kWh of electricity annually.

To enhance energy efficiency, the Yingkou plant has upgraded its drainage system from pump-driven to an overflow mechanism, resulting in an annual reduction of 15,000 kWh in power consumption and 11.78 tons in CO2 emissions. In terms of sales and logistics, Infinitus began using recyclable crates instead of cardboard boxes in 2016, and obtained a design patent that same year. A total of 10,850 reusable crates have since been utilized in raw material storage and transportation, 240 in the production process, and 53,132 in the sales process, effectively reducing CO2 emissions by 1,030 tons annually.

The Yingkou facility has received multiple significant certifications, including ISO 9001:2015, FSSC 22000 v5.1, and HACCP. Additionally, its testing center has been accredited by the China National Accreditation Service for Conformity Assessment (CNAS). In October 2023, the plant was designated a national green factory, recognizing its efforts in implementing energy conservation, carbon reduction, pollution control and environmental protection measures.

Prioritizing Quality to Create a Healthier Life

In addition to its focus on sustainable manufacturing, the Yingkou facility prioritizes product quality, embracing a philosophy that values perfection. The plant is committed to delivering premium products by centering on user experience and employing a rigorous quality monitoring system to minimize risks. It proactively seeks improvements and enhances the stability of its equipment to maintain high standards. With quality as its foremost goal, the facility is dedicated to ongoing enhancements, ensuring each batch of products adheres to stringent standards.

The Infinitus Yingkou plant not only maintains high standards of production quality but also actively engages in social responsibility. The factory has significantly impacted the local community through various initiatives, underscoring its commitment to societal benefits. Deeply integrated into the local area, Infinitus has fostered robust partnerships with local government and community organizations, sharing the fruits of its growth. The Yingkou facility has notably improved the lives of local residents by creating approximately 1,600 jobs. With a total output value of 5.3 billion yuan and tax contributions exceeding 2.2 billion yuan, the plant plays a crucial role in bolstering the local economy.

As it enhances its capabilities, the Infinitus Yingkou factory is dedicated to advancing Chinese wellness culture and nurturing a healthier lifestyle. Several initiatives by the facility – the National Food Science Education Hub and the Science and Technology Outreach Center of Liaoning Province – have garnered multiple accolades. It also hosts the Bayuquan District’s Youth Science Education Center and the district’s Young Pioneers Extracurricular Activity Center. Having attracted over 3.6 million visitors nationwide, the plant has made a substantial impact on local tourism.   

During its 10th anniversary celebration, Infinitus (Yingkou) Co., Ltd. showcased its achievements over the past decade and expressed confidence in continued growth to employees and partners. Infinitus reaffirmed its commitment to an innovation-driven approach and pledged to collaborate with all stakeholders to build a brighter future.

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SOURCE Infinitus (China) Company Ltd.

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Trainocate Secures Strategic Acquisition of EnterOne in Landmark IT Training Partnership

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RESTON, Va., Oct. 23, 2024 /PRNewswire/ — Trainocate, a global leader in IT education, announces its acquisition of EnterOne, an innovator in advanced technology training and services specializing in Cisco, VMware, AWS, and Microsoft. This landmark partnership strengthens Trainocate’s leadership and accelerates its global expansion efforts.

Founded in 2007, EnterOne has delivered cutting-edge training solutions and services that empower IT professionals. EnterOne’s commitment to innovation aligns with Trainocate’s vision of driving global leadership in IT education.

“The acquisition of EnterOne marks a pivotal moment for our organization,” said Takashi Ozawa, CEO of Trainocate. “Together, we will harness the power of innovation to redefine the future of IT training, ensuring we meet the evolving demands of a dynamic, tech-driven world.”

EnterOne’s expertise in emerging technologies, including Artificial Intelligence (AI), enhances Trainocate’s training and service offerings. This partnership enables the combined entity to deliver future-proof solutions that support the digital transformation of businesses worldwide.

“This merger elevates our ability to provide world-class training and services to a broader audience,” commented Anthony Hamilton, CEO of EnterOne. “We are excited to unite with Trainocate in our shared mission of fostering digital transformation and enhancing workforce readiness.”

With a strong presence in North America and Latin America, EnterOne expands Trainocate’s footprint, reinforcing its capacity to deliver tailored training programs and services across key markets. The synergy between both companies will create a powerful force capable of transforming the global IT education landscape.

“This acquisition is a game-changer for Trainocate, our clients, and partners alike,” added Ozawa. “By joining forces with EnterOne, we’re not just expanding geographically; we’re enhancing our ability to deliver innovative, business-focused training and service solutions that drive tangible results.”

Together, Trainocate and EnterOne are set to shape the future of IT training, ensuring excellence in workforce development and accelerating digital transformation initiatives worldwide.

About Trainocate:

Trainocate is a global IT training provider with over 25 years of experience, operating in 22 countries. The company offers comprehensive training in cloud, cybersecurity, AI, and digital transformation solutions, recognized for its partnerships with AWS, Cisco, Microsoft, and VMware.

About EnterOne:

EnterOne is an innovative IT training company based in Reston, VA, specializing in advanced technology education. Known for its exceptional training solutions and services in Cisco, VMware, AWS, and Microsoft, EnterOne empowers professionals to master the skills required in today’s rapidly evolving tech environment.

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SOURCE EnterOne

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Dive Deep with All Access: Unveiling the Heroes Protecting Our Water

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Delve into the world of water quality and discover the innovative minds safeguarding this vital resource on All Access with Andy Garcia.

LOS ANGELES, Oct. 23, 2024 /PRNewswire-PRWeb/ — All Access, distributed to Public Television stations nationwide, sets sail on a captivating journey this season, exploring the fascinating realm of water quality management. Buckle up as we dive deep into the cutting-edge techniques and passionate individuals working tirelessly to ensure clean water for all.

Across the nation, a dedicated force of scientists, engineers, and community leaders are developing groundbreaking solutions to protect our precious waterways.

Across the nation, a dedicated force of scientists, engineers, and community leaders are developing groundbreaking solutions to protect our precious waterways. From cutting-edge filtration systems to innovative wastewater treatment plants, All Access with Andy Garcia unveils the fascinating world of water quality management. Prepare to be inspired by the ingenuity and dedication of these modern-day heroes as they safeguard a resource that sustains our communities, ecosystems, and very existence.

Viewers will be captivated by stories of resilience and innovation. Witness firsthand the remarkable efforts of communities confronting water scarcity, discover the science behind revitalizing polluted waterways, and learn about the vital role of citizen action in protecting this irreplaceable resource. Whether it’s implementing water-saving practices at home or getting involved in local conservation efforts, All Access with Andy Garcia empowers viewers to become active participants in safeguarding our precious water supply.

About All Access with Andy Garcia
All Access with Andy Garcia is a captivating documentary series airing on Public Television stations across the country. Through thought-provoking stories and stunning visuals, the program explores a wide range of topics that impact our lives, showcasing the dedication, innovation, and resilience of individuals and communities making a positive difference. For more information, please visit: http://www.allaccessptv.com.

Media Contact

Research & Development, All Access with host Andy Garcia, 561-424-0504, info@allaccessptv.comwww.allaccessptv.com

View original content:https://www.prweb.com/releases/dive-deep-with-all-access-unveiling-the-heroes-protecting-our-water-302280118.html

SOURCE All Access with host Andy Garcia

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