Husqvarna Ab Class A · OMXSTO:HUSQ_A
Husqvarna Ab Class A — Q1 2024 Earnings Presentation
16 slides from Husqvarna Ab Class A's earnings presentation, Apr 24, 2024
Slide 1: Q1 Results – April 24, 2024
Q1 Results – April 24, 2024 Pavel Hajman, CEO Terry Burke, CFO
Slide 2: Well positioned ahead of the gardening season
Well positioned ahead of the gardening season • Improved sales as Q1 progressed, although cautiousness among trade partners • Gardena Division delivered organic growth and improved margin • Successful execution of cost-savings program • Innovation leadership reinforced. Well- received product launch
Slide 3: Gradual sales improvement and growth in Gardena
Gradual sales improvement and growth in Gardena • Good growth in pro robotics, battery products and parts & • Improved gross margin driven SEK accessories by exits, lower logistics cost & currency NET SALES • Growth in Gardena Division; watering and hand tools in OPERATING INCOME • Lower volumes and
Slide 4: Building a stronger Husqvarna Group
Building a stronger Husqvarna Group *Operating income excluding items affecting comparability
Slide 5: Husqvarna Forest & Garden Division
-7 Husqvarna Forest & Garden Division Q1: Organic sales declined 17%; operating margin at * 14.4% • Good growth for pro robotics and battery-powered products • Sequentially improved residential robotics volumes • Lower sales in petrol-powered products, including exits • Operating margin impacted by
Slide 6: Gardena Division
Gardena Division Q1: Organic sales grew 2%; operating margin * 15.3% • Strong sales for watering, electric products and hand tools in Europe • Margin improved in all regions • Positive effects from cost savings and lower logistics costs * • Acquisition of ETwater LTM 2024: Organic sales declined 2%;
Slide 7: Husqvarna Construction Division
Husqvarna Construction Division Q1: Organic sales declined 8%; operating * margin at 10.1% • Good growth in emerging markets, decline in Europe and North America • Solid performance for newly launched demolition robots and battery power cutters • Operating margin impacted * by lower volumes, partly
Slide 8: Q1 2024 EBIT bridge (excl. IAC)
Q1 2024 EBIT bridge (excl. IAC) -480m -20% 2,410 (14.0% margin) -825 1,930 (13.1% margin) -15 -20 +200 +185 Q1 2023 Price / volume / Cost savings Raw materials Transformational Currency Q1 2024 mix / other & logistics initiatives Note: Numbers are rounded to nearest 5 or 0.
Slide 9: Consolidated balance sheet
Consolidated balance sheet SEKm Mar 31, 2024 Mar 31, 2023 Dec 31, 2023 Non-current assets 31 675 31 228 30 592 • Solid financial position Inventories 17 094 18 670 17 184 Trade receivables 11 302 10 355 5 289 • Trade receivables increase impacted Other current assets 2 374 2 744 3 018 by the planned
Slide 10: Net debt / EBITDA
Net debt / EBITDA Average net debt / rolling 12 months EBITDA, excl. items affecting comparability
Slide 11: Direct operating cash flow
Direct operating cash flow Direct operating cash flow Trade financing used in Q1 2022 and Q1 2023
Slide 12: Investing in our value creation areas
Investing in our value creation areas Battery- Watering Robotic Professional powered products mowers solutions products 12
Slide 13: Highlights from our divisions
Highlights from our divisions Successful Services by expansion of Husqvarna Husqvarna entering new Automower® territory NERA models Gardena Positive sales acquires development ETwater and for Husqvarna expands battery power commercial cutters offering 13
Slide 14: Good progress on our Sustainovate 2025 targets
Good progress on our Sustainovate 2025 targets CARBON CIRCULAR PEOPLE Reduce absolute CO2 Launch 50 new Empower 5 million emissions by -35% circular innovations people to make sustainable choices Status Q1 2024: Status Q1 2024: Status Q1 2024: -51% 30 2.7m
Slide 15: Well positioned ahead of the gardening season
Well positioned ahead of the gardening season • Improved sales as Q1 progressed, although cautiousness among trade partners • Gardena Division delivered organic growth and improved margin • Successful execution of cost-savings program • Innovation leadership reinforced. Well- received product launch
Slide 16: www.husqvarnagroup.com
Husqvarna Group www.husqvarnagroup.com