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Husqvarna AB B SHS is a renowned Swedish company known for its innovative and high-quality outdoor power products. Specializing in robotic mowers, battery-powered tools, watering solutions, and professional equipment, Husqvarna has established itself as a leader in the industry. With a focus on sustainability and reducing carbon footprint, the company has shown significant progress in its electrification ambition. Husqvarna's dedication to operational efficiency and market growth has led to an improved operating margin and solid financial performance. The company's strategic transformation aims to deliver cutting-edge products while navigating through market uncertainties.
Husqvarna Group's 2020 Sustainovate Progress Report reveals a 32% reduction in CO2 emissions since 2015, encompassing emissions from suppliers and product usage. This achievement underscores the Group's commitment to leading in low-carbon solutions and aims for net-zero emissions by 2050. Key highlights include ongoing reductions in CO2 emissions alongside sales growth, plans to launch 50 circular innovations by 2025, and efforts to empower 5 million customers with sustainable practices, despite slightly missing supplier audit targets due to COVID-19 impacts.
On March 10, 2021, Husqvarna Group announced its membership in the Climate Leadership Coalition (CLC), enhancing its commitment to sustainability and a low-carbon economy. Over the past five years, the company reduced CO2 emissions by 32% while increasing sales by 16%. Joining the CLC will support Husqvarna's goals to influence EU carbon pricing and engage in policy discussions. The company's sustainability framework, Sustainovate, emphasizes innovative solutions to address climate change and resource scarcity, crucial for its 2025 strategy.
Husqvarna reported a 4% increase in Q4 2020 net sales to SEK 6,683m, and a 13% growth adjusted for exchange rates. However, the operating income fell to SEK -944m due to supply chain efficiency measures, leading to a diluted earnings per share of SEK -1.26. For 2020, net sales dropped 1% to SEK 41,943m, but increased by 6% when adjusted. The company plans to propose a dividend of SEK 2.40 per share. Strategic investments in R&D and sustainability efforts are set to accelerate growth, alongside the launch of CEORA, an autonomous turf care solution.
Husqvarna Group reported a 21% net sales growth for the first two months of Q3 2020, driven by favorable weather and increased lawn care activities due to COVID-19. The company plans to reinstate a SEK 2.25 per share dividend for FY 2019, following a thorough review of its financial health. An extraordinary general meeting is scheduled for October 23, 2020 to finalize this decision. The firm has also repaid all governmental COVID-19 grants, reinforcing its commitment to financial integrity. The Q3 financial report is expected on October 20, 2020.
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