Husqvarna rises as Q4 loss proves smaller than feared

Husqvarna AB

02/02/2024 08:29

** Husqvarna  HUSQb.ST  shares are up nearly 6% after the
group's Q4 performance showed better underlying profitability
than expected, even as net sales came in line
    ** The Swedish gardening equipment maker posted an adj. EBIT
loss of SEK 168 million ($16.19 million), while consensus cited
by Jefferies showed a loss of SEK 321 million
    ** Jefferies says Husqvarna delivered a "mixed bag" of
results, but flags improved margins in Gardena and Construction
divisions due to price increases, cost control and lower
logistics costs
    ** The company said in the earnings statement Q4 was
characterized by a continuous challenging market situation with
lower demand
    ** The share is on track for its best day in 12 months,
making Husqvarna one of best performers on the pan-European
STOXX 600 index  .STOXX 


($1 = 10.3746 Swedish crowns)

 (Reporting by Agata Rybska)
 ((gdansk.newsroom@thomsonreuters.com;))