STOCKHOLM, July 8, 2020 /PRNewswire/ -- Husqvarna Group has
had a stronger Net Sales development for the second quarter of 2020
than advised in the press release published on June 8, 2020. Net Sales are now estimated to be
SEK 13,500m (13,789), a decrease of around 2% versus
prior year, or an increase of around 3% when adjusted for exited
business. Operating income is estimated to be SEK 2,190m (2,125) for the second quarter.
"We have delivered a very good quarter, even taking account of
the COVID-19 situation, with sales growth when adjusting for
Consumer Brands exits, and an increased operating margin. After a
challenging start to the quarter, demand accelerated quickly as
markets gradually reopened and consumers showed a high interest in
lawn and garden care equipment, especially for watering products.
The effects of temporary cost avoidance activities and a favorable
product mix improved our operating margin." commented
Henric Andersson,
CEO.
All figures in this press release are preliminary and unaudited,
and the final report for the second quarter of 2020 will be
published on July 16, 2020 at about
07:30 CET. Husqvarna Group will not
make any further comments until after the interim report has been
published.
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 14.30 CET on July 8,
2020.
Husqvarna Group
Husqvarna Group is a global leading producer of outdoor power
products and innovative solutions for forest, park and garden care.
Products include chainsaws, trimmers, robotic lawn mowers and
ride-on lawn mowers. The Group is also the European leader in
garden watering products and a global leader in cutting equipment
and diamond tools for the construction and stone industries. The
Group's products and solutions are sold under brands including
Husqvarna, Gardena, McCulloch, Poulan Pro, Weed Eater, Flymo,
Zenoah and Diamant Boart via dealers and retailers to consumers and
professionals in more than 100 countries. Net sales in 2019
amounted to SEK 42bn and the Group
has around 13,000 employees in 40 countries.
For more information please contact:
Johan Andersson
Director
Corporate Communications and Investor Relations
+46-702-100-451
ir@husqvarnagroup.com
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SOURCE Husqvarna AB