HUSQVARNA GROUP: INTERIM REPORT JANUARY - SEPTEMBER 2024
Husqvarna Group reported mixed Q3 2024 results with net sales decreasing 7% to SEK 9,739m. Operating income fell to SEK 52m from SEK 398m, with margin dropping to 0.5%. While showing growth in strategic areas like robotics and battery-powered products, organic sales declined 4% amid challenging market conditions. The company announced additional cost reduction measures targeting SEK 500m in savings and 400 position reductions. Cash flow performance was strong, with direct operating cash flow reaching SEK 4,020m. The company plans to launch 13 new robotic mower models for the 2025 gardening season.
Husqvarna Group ha riportato risultati misti per il terzo trimestre del 2024, con le vendite nette che sono diminuite del 7% a 9.739 milioni di SEK. L'utile operativo è sceso a 52 milioni di SEK rispetto ai 398 milioni di SEK precedenti, con un margine che è sceso allo 0,5%. Sebbene ci sia stata una crescita in aree strategiche come la robotica e i prodotti a batteria, le vendite organiche sono diminuite del 4% a causa di condizioni di mercato difficili. L'azienda ha annunciato ulteriori misure di riduzione dei costi mirate a risparmiare 500 milioni di SEK e a ridurre 400 posti di lavoro. Le performance del flusso di cassa sono state forti, con un flusso di cassa operativo diretto che ha raggiunto i 4.020 milioni di SEK. L'azienda prevede di lanciare 13 nuovi modelli di rasaerba robotici per la stagione di giardinaggio del 2025.
Husqvarna Group reportó resultados mixtos para el tercer trimestre de 2024, con ventas netas disminuyendo un 7% a 9,739 millones de SEK. El ingreso operativo cayó a 52 millones de SEK desde 398 millones, con un margen que bajó al 0.5%. Aunque se observó crecimiento en áreas estratégicas como la robótica y los productos a batería, las ventas orgánicas disminuyeron un 4% en medio de condiciones de mercado desafiantes. La compañía anunció medidas adicionales de reducción de costos con un objetivo de ahorro de 500 millones de SEK y la reducción de 400 puestos. El rendimiento del flujo de caja fue sólido, con un flujo de caja operativo directo que alcanzó los 4,020 millones de SEK. La compañía planea lanzar 13 nuevos modelos de cortacésped robóticos para la temporada de jardinería de 2025.
후스바나 그룹은 2024년 3분기 혼합된 실적을 발표했으며, 순매출이 7% 감소하여 97억 3천 9백만 SEK에 달했습니다. 운영 소득은 398백만 SEK에서 52백만 SEK로 감소했으며, 마진 역시 0.5%로 떨어졌습니다. 로봇 공학 및 배터리 구동 제품과 같은 전략적 분야에서 성장세를 보였지만, 어려운 시장 환경 속에서 유기적 매출은 4% 감소했습니다. 이 회사는 500백만 SEK의 비용 절감과 400개의 직무 축소를 목표로 하는 추가 비용 절감 조치를 발표했습니다. 현금 흐름 성과는 강력했으며, 직접 운영 현금 흐름은 40억 2천만 SEK에 달했습니다. 이 회사는 2025년 정원 관리 시즌을 위한 13개의 새로운 로봇 잔디 깎는 기계 모델을 출시할 계획입니다.
Husqvarna Group a rapporté des résultats mitigés pour le troisième trimestre 2024, avec une baisse des ventes nettes de 7% à 9 739 millions de SEK. Le résultat opérationnel est tombé à 52 millions de SEK contre 398 millions auparavant, avec une marge réduite à 0,5%. Bien qu'une croissance ait été constatée dans des domaines stratégiques tels que la robotique et les produits à batterie, les ventes organiques ont diminué de 4% dans un contexte de marché difficile. L'entreprise a annoncé des mesures supplémentaires de réduction des coûts visant des économies de 500 millions de SEK et la réduction de 400 postes. La performance du flux de trésorerie était solide, avec un flux de trésorerie opérationnel direct atteignant 4 020 millions de SEK. L'entreprise prévoit de lancer 13 nouveaux modèles de tondeuses robotisées pour la saison de jardinage 2025.
Husqvarna Group berichtete über gemischte Ergebnisse im dritten Quartal 2024, mit einem Rückgang der Nettoumsätze um 7% auf 9.739 Millionen SEK. Das Betriebsergebnis sank von 398 Millionen SEK auf 52 Millionen SEK, während die Marge auf 0,5% fiel. Obwohl in strategischen Bereichen wie Robotik und batteriebetriebenen Produkten Wachstum gezeigt wurde, verzeichneten die organischen Umsätze einen Rückgang um 4% aufgrund schwieriger Marktbedingungen. Das Unternehmen kündigte zusätzliche Kostensenkungsmaßnahmen an, die auf 500 Millionen SEK Einsparungen und 400 Stellenabbau abzielen. Die Leistung des Cashflows war stark, mit einem operativen Cashflow von 4.020 Millionen SEK. Das Unternehmen plant die Einführung von 13 neuen Modellen von Robotermähern für die Gartensaison 2025.
- Growth achieved in strategic segments (robotic mowers and battery-powered products)
- Strong cash flow performance with direct operating cash flow increasing to SEK 4,020m from SEK 1,814m
- Cost savings program delivered SEK 590m in savings for the nine-month period
- European market showed growth in Forest & Garden Division
- Net sales decreased 7% to SEK 9,739m
- Operating income declined significantly to SEK 52m from SEK 398m
- Operating margin fell to 0.5% from 3.8%
- Earnings per share turned negative at SEK -0.27 from SEK 0.22
- Planned workforce reduction of 400 positions
- Weak demand in North American market
- Lower production capacity utilization due to decreased volumes
Third quarter 2024
- Net sales decreased by
7% toSEK 9,739m (10,512). Changes in exchange rates impacted by -3% . Organic sales decreased by4% . - 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 was0.5% (3.8). - Excluding items affecting comparability, the operating income amounted to
SEK 53m (415) and the operating margin was0.5% (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 – September 2024
- Net sales decreased by
11% toSEK 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 by7% . - Operating income was
SEK 3,882m (4,863) and the operating margin was9.7% (10.9). - Excluding items affecting comparability, the operating income amounted to
SEK 3,889m (5,138) and the operating margin was9.8% (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
Organic sales in the Husqvarna Forest & Garden Division decreased by
Organic sales in the Gardena Division decreased by
In the Husqvarna Construction Division, organic sales decreased by
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."
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 (
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.
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Interim report Q3 2024 Husqvarna Group (PDF) |
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SOURCE Husqvarna Group
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