Husqvarna AB: Year-end Report 2012
STOCKHOLM -- February 13, 2013
Husqvarna AB (STO:HUSQB)
Hans Linnarson, President and CEO:
“Market conditions in Europe weakened significantly in the fourth quarter. Due
to the macroeconomic uncertainty, trade partners were cautious about building
inventory for the coming season. Sales of seasonal products such as snow
throwers and chainsaws declined mainly as a result of the weak consumer
demand. Sales were also negatively impacted by delays in some recently
launched handheld products. Operating income was negatively affected by the
lower sales volume, as well as product and sales channel mix.
For Americas, sales of forest and garden products were slightly lower in the
quarter, which mainly was a result of soft demand for snow throwers. Although
the operating loss for Americas decreased during the year, the work with
measures to further improve the result continues.
Construction continued to benefit from a positive development in North
America. Operating income for the business area continued to improve, although
sales in the quarter declined due to falling demand in markets outside of
The Group enters the new season well prepared, as retail listings with our
main trade partners are on satisfactory levels.
Today the Group announced a SEK 1bn investment in core technologies. The
investment in manufacturing of chainsaw chain and cylinders will further
strengthen our leading position in chainsaws. By expanding into saw chain, we
are also creating an opportunity to grow in the replacement part market, as
chains represent the biggest aftermarket category.
The near-term demand outlook for North America is positive, while the European
markets are expected to remain challenging as the macroeconomic uncertainty
remains. The cost structure improvement initiative which was announced in
November is progressing according to plan and will support earnings in 2013.”
*Net sales amounted to SEK 4,476m (4,994). Adjusted for exchange rate
effects, net sales declined -8%.
*Operating income amounted to SEK -618m (-236). Excluding items affecting
comparability, referring to already announced costs for staff reductions,
operating income amounted to SEK -362m (-236).
*Operating cash flow amounted to SEK -451m (-144).
*Earnings per share amounted to SEK -0.87 (-0.39).
*Net sales amounted to SEK 30,834m (30,357). Adjusted for exchange rate
effects, net sales were unchanged.
*Operating income increased to SEK 1,615m (1,551). Excluding items
affecting comparability, operating income increased to 1,871m (1,615).
*Operating cash flow improved to SEK 1,144m (-472).
*Earnings per share increased to SEK 1.78 (1.73).
*The Board proposes a dividend of SEK 1.50 (1.50) per share for 2012.
A telephone conference, hosted by Hans Linnarson, President and CEO, and Ulf
Liljedahl, CFO, will be held at 10:00 CET on February 13, 2013. To participate
by phone, please Dial +46 (0) 8 5052 0110 (Sweden) or +44 (0)20 7162 0077 (UK)
ten minutes prior to the start of the conference. The conference call will
also be audio cast live on
www.husqvarnagroup.com/ir(http://www.husqvarna.com/ir). A replay will be
available at www.husqvarnagroup.com/ir(http://www.husqvarna.com/ir) later the
This interim report comprises information which Husqvarna is required to
disclose under the Securities Markets Act and/or the Financial Instruments
Trading Act. It was released for publication at 08:00 CET on February 13,
This information was brought to you by Cision http://www.cisionwire.com
Ulf Liljedahl, CFO, +46 8 738 94 42
Tobias Norrby, Investor Relations Manager, +46 8 738 93 35
Corporate Media Office, +46 8 738 90 80
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