Edition:
United States

Husqvarna AB (HUSQb.ST)

HUSQb.ST on Stockholm Stock Exchange

64.28SEK
19 Oct 2018
Change (% chg)

-5.92kr (-8.43%)
Prev Close
70.20kr
Open
69.50kr
Day's High
71.00kr
Day's Low
63.40kr
Volume
4,972,379
Avg. Vol
2,256,890
52-wk High
89.90kr
52-wk Low
63.40kr

Latest Key Developments (Source: Significant Developments)

Husqvarna Group sees Q3 operating income at around half of previous year
Tuesday, 18 Sep 2018 02:00am EDT 

Sept 18 (Reuters) - Husqvarna AB ::FURTHER INFORMATION ABOUT RESTRUCTURING MEASURES RELATED TO CONSUMER BRANDS DIVISION AND THIRD QUARTER 2018 OPERATING INCOME.SAYS IN ADDITION TO RESTRUCTURING, Q3 HAS ALSO BEEN IMPACTED BY EXTENDED WARM AND DRY WEATHER.SAYS HENCE, GROUP INFORMS THAT OPERATING INCOME FOR Q3 2018 WILL BE AROUND HALF OF PREVIOUS YEAR, EXCLUDING ITEMS AFFECTING COMPARABILITY.SAYS HUSQVARNA GROUP'S OPERATING INCOME FOR Q3 2018 (EXCLUDING ITEMS AFFECTING COMPARABILITY) IS EXPECTED TO BE APPROXIMATELY HALF OF PREVIOUS YEAR'S, WHICH WAS SEK 433M.SAYS BOTH HUSQVARNA AND CONSUMER BRANDS ARE ALSO IMPACTED BY HIGHER COSTS FOR RAW MATERIALS AND NEW TARIFFS.SAYS FOR 2019 EXPECTATION IS THAT THESE WILL BE MITIGATED BY PRICE INCREASES.SAYS IN 2019 GROUP WILL EXIT NET SALES OF CLOSE TO SEK 2 BILLION AND IN 2020 ANOTHER SEK 1 - 2 BILLION OF LOW GROSS MARGIN BUSINESS THAT PREVIOUSLY WAS WITHIN CONSUMER BRANDS DIVISION.SAYS RESTRUCTURING MEASURES WILL BE IMPLEMENTED DURING 2018-2019 WITH AN ESTIMATED TOTAL COST OF SOME SEK 1.2 BILLION BEFORE TAX.SAYS RESTRUCTURING MEASURES ARE EXPECTED TO RESULT IN ANNUAL SAVINGS OF AROUND SEK 250M GRADUALLY FROM 2019 AND WITH FULL EFFECT 2020.SAYS IN LINE WITH INTENTIONS WHEN ANNOUNCED, GROUP'S FINANCIAL TARGETS WILL REMAIN UNCHANGED.SAYS WE ARE COMMITTED TO DELIVER ON OUR TARGETS, INCLUDING A GROUP OPERATING MARGIN OF 10 PERCENT IN 2019.  Full Article

Husqvarna appoints Glen Instone as new CFO
Wednesday, 22 Aug 2018 03:00am EDT 

Aug 22 (Reuters) - Husqvarna AB ::HUSQVARNA GROUP APPOINTS NEW CHIEF FINANCIAL OFFICER.SAYS GLEN INSTONE, HAS BEEN APPOINTED SENIOR VICE PRESIDENT AND CHIEF FINANCIAL OFFICER OF HUSQVARNA GROUP.  Full Article

Husqvarna says buys minority stake in Franklin Robotics
Tuesday, 10 Apr 2018 03:42am EDT 

April 10 (Reuters) - Husqvarna AB ::SAYS BUYS MINORITY STAKE IN FRANKLIN ROBOTICS.HAS BOUGHT 25 PERCENT OF BOSTON BASED STARTUP FRANKLIN ROBOTICS.  Full Article

Husqvarna CEO sees Gardena, Construction, Husqvarna units 2018 growth around 5.5 pct
Friday, 2 Feb 2018 03:05am EST 

Feb 2 (Reuters) - Husqvarna AB CEO Kai Warn and CFO Jan Ytterberg to Reuters::CFO SEES 2018 CAPEX AT AROUND 1.8-1.9 BILLION SEK, ROUGHLY SAME LEVELS AS IN 2016, 2017.CFO SEES NEGATIVE RAW MATERIAL COST EFFECT OF AROUND 200 MILLION SEK, AROUND 100 MILLION POSITIVE CURRENCY TRANSLATION EFFECT IN 2018.CEO SEES 2018 SALES GROWTH AROUND 5.5 PERCENT FOR HUSQVARNA, GARDENA, CONSTRUCTION DIVISIONS COMBINED.CEO SAYS SEES OPERATING MARGIN REACHING THE 10 PERCENT TARGET 2018.  Full Article

Husqvarna says Pavel Hajman to head new function in group management
Friday, 19 Jan 2018 09:00am EST 

Jan 19 (Reuters) - Husqvarna Ab ::SAYS A NEW FUNCTION WITHIN GROUP MANAGEMENT WILL BE CREATED: “GROUP DIGITAL, OPERATIONS AND TECHNOLOGY DEVELOPMENT.THE NEW FUNCTION WILL BE HEADED BY PAVEL HAJMAN, CURRENTLY PRESIDENT OF HUSQVARNA DIVISION.SAYS ‍SASCHA MENGES, CURRENTLY PRESIDENT OF GARDENA DIVISION WILL BECOME PRESIDENT OF HUSQVARNA DIVISION​.  Full Article

Husqvarna to boost concrete surfaces & floors with Atlas unit buy
Friday, 22 Dec 2017 02:30am EST 

Dec 22 (Reuters) - Husqvarna AB ::HUSQVARNA GROUP TO ACQUIRE LIGHT COMPACTION AND CONCRETE EQUIPMENT BUSINESS, TO STRENGTHEN POSITION IN CONCRETE SURFACES & FLOORS.SAYS ‍ATLAS COPCO LIGHT COMPACTION & CONCRETE EQUIPMENT, A PART OF ATLAS COPCO POWER TECHNIQUE, IS A GLOBAL LEADER IN THIS BUSINESS SEGMENT AND HAD ANNUAL SALES OF APPROXIMATELY SEK 570M IN 2016​.SAYS ‍AROUND 200 EMPLOYEES ARE PREDOMINANTLY LOCATED IN BULGARIA BUT ALSO IN ALL KEY MARKETS​.  Full Article

Atlas Copco to sell Concrete and Compaction unit to Husqvarna
Friday, 22 Dec 2017 02:30am EST 

Dec 22 (Reuters) - Atlas Copco AB ::ATLAS COPCO TO DIVEST CONCRETE AND COMPACTION BUSINESS TO HUSQVARNA GROUP.ATLAS COPCO AB SAYS ‍BUSINESS HAD REVENUES OF APPROXIMATELY MEUR 57 (MSEK 570) IN 2016​.  Full Article

Kitron wins 4-year Husqvarna order
Wednesday, 15 Nov 2017 12:03pm EST 

Nov 15 (Reuters) - Kitron Asa :Kitron receives new order from husqvarna group.‍will manufacture and deliver controller units to husqvarna group's factory in sweden for next 4 years​.‍controller units are important parts of husqvarna group's battery-powered equipment such as chainsaws, blowers and trimmers​.‍production will take place at kitron's plant in kaunas, lithuania​.  Full Article

Husqvarna Q3 operating profit lags forecast​
Friday, 20 Oct 2017 02:12am EDT 

Oct 20 (Reuters) - Husqvarna AB :Q3 ‍net sales increased to SEK 7,449m (7,349), corresponding to a currency adjusted* growth of 4%.​.Q3 ‍operating income amounted to SEK 433m (431), including a restructuring charge of around SEK -50m.​.Reuters poll: Husqvarna Q3 EBIT was seen at 454 million SEK, adjusted EBIT at 508 million, sales at 7,622 million.Says "We continue to invest in strategic growth initiatives to further strengthen our position in areas that will be vital for growth going forward, but which impacts the margin more negatively during the second half-year due to its lower sales.Q3 sales in Consumer Brands division declined by 5 pct currency adjusted and the seasonal operating loss amounted to SEK -94 mln (-80) vs 81 mln loss seen in Reuters poll .  Full Article

Husqvarna says sales to be hit as cuts business with U.S. customer
Monday, 16 Oct 2017 02:30am EDT 

Oct 16 (Reuters) - Husqvarna AB :Husqvarna group scales back business with large U.S. retail customer.Says ‍division has started to adjust capacity and other measures to mitigate short-term negative financial effects​.Says ‍because of reduced volume, consumer brands division's net sales for 2018 is expected to decline by some SEK 1 bn compared to 2017​.Says ‍this will delay operating income improvement trajectory.​.Says ‍group's financial target of an operating margin of at least 10 pct for coming years remains unchanged​.  Full Article

UPDATE 1-Husqvarna's Q3 profit tumbles, looks to improve in 2019

STOCKHOLM, Oct 19 Husqvarna, the world's biggest maker of lawn mowers, reported an operating profit of 225 million crowns ($24.9 million) on Friday, in line with a warning last month that its third quarter profit would halve.