Husqvarna Ab - HSQVY STOCK NEWS

Husqvarna AB announces its 2022 Annual General Meeting (AGM) set for April 7, 2022, to be conducted via mail-in voting due to ongoing Covid-19 concerns. Shareholders must register by March 30, 2022, and submit their attendance by April 6, 2022. The AGM agenda includes items on the adoption of the Profit and Loss Statement, the proposed dividend of SEK 3.00 per share, and the election of the Board of Directors. Voting results will be published within two weeks post-meeting. Additionally, Husqvarna plans to present a pre-recorded 2021 overview video on its website.

Husqvarna Group has appointed Terry Burke, currently Vice President Finance of the Husqvarna Forest & Garden Division, as the new CFO, effective March 1, 2022. Terry has been with the company since 2010, holding several senior positions and bringing extensive experience in finance and leadership. CEO Henric Andersson expressed confidence in Burke's capabilities to lead the financial strategy of the company. Glen Instone, the outgoing CFO, will transition to President of the Husqvarna Forest & Garden Division.

Husqvarna Group has announced new financial targets and growth ambitions ahead of its Capital Markets Day on December 1, 2021. The company aims for 5% annual organic sales growth, a 13% operating margin, and 20% capital efficiency. The focus on electrification and robotics is expected to enhance shareholder value and sustainability. Additionally, Husqvarna has set targets to double its robotic mower sales and increase the proportion of electrified products from 38% to 67% by 2025. The event will also highlight innovations such as the battery-powered K1 Pace power cutter.

Husqvarna Group and Briggs & Stratton have settled their engine supply dispute, ensuring the provision of engines for ride-on mowers before the 2022 season. The agreement includes a modified supply relationship extending into 2023. This resolution alleviates potential financial impacts previously anticipated by Husqvarna due to engine shortages. Glen Instone, Acting President and CFO, expressed satisfaction with the outcome, emphasizing secured product availability for customers.

On October 28, 2021, Husqvarna Group endorsed the Call on Carbon, urging COP26 delegates to implement effective carbon pricing policies. CEO Henric Andersson emphasized the company's commitment to leading in low-carbon solutions. The initiative aims to align carbon pricing globally, enhance investments in clean solutions, and address the imbalance of fossil fuel subsidies versus climate investment needs. The Call on Carbon is supported by multiple corporate and sustainable business networks.

Husqvarna Group has invested €1 Million in Gamma Technologies, marking the fifth investment from its venture capital fund aimed at fostering start-ups in digital disruption within the construction industry.

This investment aims to enhance augmented reality (AR) technology usage in construction, reducing planning time and errors on job sites through 3D Building Information Modeling (BIM) overlays. The collaboration is expected to further develop Husqvarna's construction business and elevate industry awareness regarding AR technologies.

Husqvarna Group will release its second quarter results on July 16, 2021, at 07:30 CET. Following the announcement, a conference call and webcast will occur at 10:00 CET, led by President & CEO Henric Andersson and CFO Glen Instone. The presentation will be in English and include a Q&A session. Participants can join via specific phone numbers for Sweden, the UK, and the US. Husqvarna is a leader in outdoor power products with net sales of SEK 42bn in 2020 and operates in over 100 countries.