Husqvarna AB - Interim report January - March 2018
Husqvarna AB - Interim report January - March 2018 |
[24-April-2018] |
STOCKHOLM, April 24, 2018 /PRNewswire/ -- Kai Wärn, President and CEO: Sales for the Husqvarna Division were unchanged adjusted for currency. Robotic lawn mowers and other battery-powered products continued to grow. From a regional perspective sales were higher in Europe while North America decreased. Operating income rose to SEK 1,070m (1,0322) and the margin improved to 17.7% (16.82), positively impacted by currency effects and favorable mix, which partly was offset by higher costs for investments in profitable growth initiatives. The Gardena Division is off to a good start due to geographic expansion, new product launches and growth in the online channel, all supporting the currency adjusted sales growth of 15%. Operating income increased to SEK 301m (251), mainly due to the strong volume development. The margin remained at 14.6% (14.6) as we continue to invest in strategic growth initiatives. The 17% currency adjusted sales decline in the Consumer Brands Division was mainly related to the announced scale-back of sales to a major retailer in North America and cautious retail ordering in general. In addition to a low sales volume, an increasing headwind from higher commodity prices added further pressure on earnings and operating income fell to SEK -63m (682). The Construction Division continues to focus on delivering organic growth* while at the same time integrating last year's acquired entities. The total currency adjusted sales growth was 16% in the first quarter, of which 4% was organic growth*. Demand in Europe was strong while the U.S. renovation market was softer than last year. Operating income increased to SEK 158m (141) and the corresponding margin improved slightly to 11.9% (11.8). Our profitable growth initiatives in Husqvarna, Gardena and Construction are on track and we have many new and innovative products in the market. We expect further progress as the gardening season gets going." January - March 2018
Telephone conference Contacts This press release 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 08.00 CET on April 24, 2018. This information was brought to you by Cision http://news.cision.com http://news.cision.com/husqvarna-ab/r/interim-report-january---march-2018,c2503275 The following files are available for download:
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Company Codes: Bloomberg:HUSQB@SS, ISIN:SE0001662230, RICS:HUSQB.ST, Stockholm:HUSQB, OTC-PINK:HSQVY |
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