Connect with us

Technology

HUSQVARNA GROUP: INTERIM REPORT JANUARY – SEPTEMBER 2024

Published

on

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)

View original content:https://www.prnewswire.com/news-releases/husqvarna-group-interim-report-january–september-2024-302284091.html

SOURCE Husqvarna Group

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

2024 World Science and Technology Development Forum opens in Beijing

Published

on

By

BEIJING, Oct. 23, 2024 /PRNewswire/ — A report from Global Times: The 2024 World Science and Technology Development Forum, organized by the China Association for Science and Technology (CAST), opened on October 22. With the theme “Science and Technology for the Future,” the forum will feature thematic sessions, round-table discussions, and various exchange activities.

Following the opening ceremony in the afternoon, participants visited the exhibition titled “Liu Hui: A Leading Founder of Classical Chinese Mathematical Theories.”

The forum will host over 350 guests from 33 countries and regions, including 14 Nobel, Turing, and Lasker Prize laureates; 27 leaders of international scientific organizations; 41 domestic and international academicians; and more than 200 experts and scholars from top universities, research institutions, and enterprises. The event will conclude in Beijing on October 30. 

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/2024-world-science-and-technology-development-forum-opens-in-beijing-302284323.html

SOURCE Global Times

Continue Reading

Technology

United Breast Cancer Foundation is Collaborating with LifeVac for Breast Cancer Awareness Month

Published

on

By

LifeVac donates $10 to UBCF for every Pink LifeVac anti-choking kit sold in October

HUNTINGTON STATION, N.Y., Oct. 23, 2024 /PRNewswire-PRWeb/ — United Breast Cancer Foundation (UBCF) is proud to announce their collaboration with LifeVac this October to celebrate and support Breast Cancer Awareness Month. LifeVac is a choking rescue device produced in the USA and designed to save lives. Portable and non-invasive, LifeVac helps people respond quickly and effectively to choking emergencies.

LifeVac is a choking rescue device produced in the USA and designed to save lives. Through October 31, 2024, for every Pink LifeVac kit purchased, $10 will be donated directly to UBCF to help provide support to breast cancer patients, survivors, and their families.

Through October 31, 2024, for every Pink LifeVac Travel kit or Pink bundle purchased, $10 will be donated directly to UBCF to help provide support to breast cancer patients, survivors, and their families. The Pink LifeVac kit would make a great baby shower gift or simply to have on-hand for your family, especially during the holidays.

LifeVac is a patented, FDA registered Class II medical device, and the Pink LifeVac kit can be found online at http://www.LifeVac.net. Make sure to select the Pink Bundle or the Pink Travel Kit to receive this amazing life-saving device and support United Breast Cancer Foundation. There’s no prescription needed, and LifeVac is covered by HSA/FSA accounts.

“UBCF and LifeVac are two organizations interested in helping people and saving lives. Through our work together, we are educating the community and raising awareness for our important causes,” said Stephanie Mastroianni, Executive Director of UBCF. “By purchasing a Pink LifeVac device, you’re not only protecting your family, you’re helping others directly impacted by breast cancer. Thank you for your purchase this October!”

According to ACS, one in eight women will be diagnosed with breast cancer in their lifetime, and when detected early and localized, breast cancer has a 99% 5-year survival rate. This October, and all year round, UBCF encourages women and men to know their bodies and learn the self-breast exam to help recognize any changes.

For more information about this and other events sponsored by UBCF, please visit (website or link). To make a donation and help support UBCF’s mission, please visit ubcf.org.

Go online and make your Pink LifeVac kit purchase today. One kit covers an entire family for life. In the event the device is used to save a life, LifeVac will replace it for free.

About UBCF:
United Breast Cancer Foundation is a non-profit founded in 2000 with a mission to make a positive difference in the lives of those impacted by breast cancer. UBCF is committed to gifting helpful and supportive donated items and funding breast health and wellness services focused on education, screening, treatment, recovery, and wellness. The platinum rated, 4-star charity offers numerous life-supporting patient and family programs available to women, men, and families nationwide. Tax-deductible contributions (consult your tax advisor) may be made towards UBCF’s programs. UBCF accepts contributions through Donor Advised Funds and vehicle and real estate donations as well. Combined Federal Campaign #77934.

Media Contact

Beth Reichart, United Breast Cancer Foundation, 877-822-4287, Beth@ubcf.org, UBCF.org

Twitter

View original content to download multimedia:https://www.prweb.com/releases/united-breast-cancer-foundation-is-collaborating-with-lifevac-for-breast-cancer-awareness-month-302283922.html

SOURCE United Breast Cancer Foundation

Continue Reading

Technology

Serve with all your might! State Grid Weifang Power Supply Company helps Weifang build the country’s first “zero carbon port”

Published

on

By

WEIFANG, China, Oct. 23, 2024 /PRNewswire/ — On October 15, China Classification Society Quality Certification Co., Ltd. issued the “Carbon Neutral Evaluation Certificate” to Shandong Bohai Bay Port Group Weifang Port, marking that Weifang has built the country’s first “zero carbon port”.

As early as the beginning of the wind power project, the staff of Weifang Power Supply Company of the State Grid took the initiative to carry out personalized and differentiated services. As the project is the first onshore decentralized wind power project in the province, in order to solve a series of problems such as operation mode and grid-connected scheduling, State Grid Weifang Power Supply Company pioneered a set of decentralized wind power project whole-process management service mode, specialized in deployment development, scheduling, digitalization and marketing, and set up the strongest technical team stationed in Weifang Port to re-optimize the design drawings. The automation, communication equipment to re-coordinate, joint test, the implementation of other technical solutions for “one to one” guidance, after three months of concentrated research, one hidden danger all cleared, one problem all solved, to ensure that the wind power project in September 30 this year successfully connected to the grid, 15 months ahead of the planned grid connection time.

It is estimated that the annual power generation of the wind power project is about 69.15 million KWH, which can not only meet the electricity demand of the entire port terminal equipment and ship shore power of 35 million KWH, but also the remaining power can be connected to the Internet to create income for Weifang Port. In addition, compared with conventional coal-fired thermal power units with the same power generation, it can save 21,000 tons of standard coal and reduce carbon dioxide emissions by 57,000 tons per year, which plays an important role in protecting the ecological environment.

In the next step, State Grid Weifang Power Supply Company will continue to give full play to its professional advantages to help Shandong Bohai Bay Port Group Weifang Port build a smart carbon tube control platform, build a green electricity management system, comprehensively improve the level of green electricity consumption, and help build a new ecology of green, low-carbon and high-quality development.

 

View original content:https://www.prnewswire.com/apac/news-releases/serve-with-all-your-might-state-grid-weifang-power-supply-company-helps-weifang-build-the-countrys-first-zero-carbon-port-302284329.html

SOURCE State grid Weifang power supply Company

Continue Reading

Trending