Continued challenging market conditions with intensified promotional activities, particularly in North America, impacts Husqvarna Group's financial performance in the fourth quarter
PR Newswire
STOCKHOLM, Dec. 9, 2024
STOCKHOLM, Dec. 9, 2024 /PRNewswire/ -- Continued market conditions with intensified promotional activities, particularly in North America, and an unfavorable product mix, continue to have an impact on the Group's sales and operating result in the fourth quarter. In addition, retail partners and servicing dealers are focusing on reducing their inventory levels resulting in reduced production volumes and lower capacity utilization.
As a result, the Group estimates the organic sales for the fourth quarter to decline by -5% compared to the previous year with an operating income of approximately SEK -700m to -800m (excluding items affecting comparability).
"I am disappointed in our continued negative development in the fourth quarter. We continue to execute on our previously announced cost-saving initiatives and prepare for the 2025 gardening season with strong product launches", says Pavel Hajman, CEO Husqvarna Group.
The report for the fourth quarter 2024 will be published on February 5, 2025.
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 below, at 22.50 CET on December 9, 2024.
Henrik Sjöström, Head of external communication +46 727 15 77 85
CONTACT:
For additional information, please contact:
Media
Henrik Sjöström, Head of External Communications
+46 727 15 77 85
press@husqvarnagroup.com
Investors
Johan Andersson, Vice President Investor Relations
+46 702 100 451
ir@husqvarnagroup.com
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Continued challenging market conditions with intensified promotional activities, particularly in North America, impacts Husqvarna Group's financial performance in the fourth quarter |
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