Brief: Husqvarna Says Q4 Was Characterized By Lower Demand

Husqvarna AB

02/02/2024 06:29

Feb 2 (Reuters) - Husqvarna AB  HUSQb.ST :
    * BOARD OF DIRECTORS WILL PROPOSE A DIVIDEND FOR 2023 OF SEK 3.00 PER SHARE (3.00) TO ANNUAL
GENERAL MEETING
    * Q4 WAS CHARACTERIZED BY A CONTINUOUS CHALLENGING MARKET SITUATION WITH LOWER DEMAND
    * WE ARE FOCUSING ON GROWING IN AREAS OF ROBOTIC MOWERS, BATTERY-POWERED PRODUCTS, WATERING
AND
SOLUTIONS FOR PROFESSIONAL MARKET
    * GARDENA DIVISION: DELIVERED GOOD GROWTH IN EUROPE, DRIVEN BY WATERING CATEGORY, BUT SALES
IN
ORBIT IN NORTH AMERICA DECLINED
    * CONSTRUCTION DIVISION: PERFORMANCE WAS SOLID IN EMERGING MARKETS, HOWEVER WE EXPERIENCED
WEAKER
DEVELOPMENT IN EUROPE AND IN NORTH AMERICA IN Q4
    * WE HAVE COST SAVINGS AND INVENTORY MANAGEMENT PROGRAMS IN PLACE, AND WE ARE PREPARED FOR
2024
    * FOREST & GARDEN DIVISION: SALES OF PROFESSIONAL ROBOTIC MOWERS AND BATTERY-POWERED
PRODUCTS WERE
STRONG
    * FOREST & GARDEN DIVISION: SALES OF PETROL-POWERED WHEELED PRODUCTS DECREASED SIGNIFICANTLY
DUE
TO LOWER DEMAND AND THAT WE PROACTIVELY ARE EXITING PARTS OF THIS SEGMENT
    * INVENTORIES AT END-Q4 AT SEK 17,184 MILLION VERSUS SEK 17,090 MILLION AT END-Q3
    * SALES GROWTH WAS GOOD FOR PROFESSIONAL ROBOTIC MOWERS AND BATTERYPOWERED PRODUCTS AS WELL
AS
AFTERMARKET PARTS AND  ACCESSORIES
    * FOREST & GARDEN DIVISION: SALES OF RESIDENTIAL ROBOTIC MOWERS WERE LOWER DURING Q4
COMPARED TO
YEAR AGO, WHICH WAS POSITIVELY IMPACTED BY AN IMPROVED SUPPLY SITUATION AND BACKLOG DELIVERIES
IN H2 2022

Source text for Eikon:  ID:nWkr1FDbq8 
Further company coverage:  HUSQb.ST 

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