Husqvarna Ab Class A · OMXSTO:HUSQ_A
Husqvarna Ab Class A — Q3 2026 Earnings Presentation
20 slides from Husqvarna Ab Class A's earnings presentation, Oct 21, 2026
Slide 1: Q3 2026 earnings call
Q3 2026 earnings call Glen Instone, CEO Patrik Johnson, CFO
Slide 2: Glen Instone, CEO
Glen Instone CEO Husqvarna
Slide 3: Q3 summary
Q3 summary -5% Consistent strategy execution through multiple actions Organic growth • Successful product launches, broadening presence across sales channels • Cost savings program on track • Initiatives to become more asset-light -246 SEKm • Progress in footprint optimization projects Operating inc
Slide 4: Strategic highlights in the quarter
Strategic highlights in the quarter Footprint and asset-light activities Strengthening the portfolio Growing aftermarket • Optimizing Gardena’s EU • Discontinuation of stone diamond tools • 15 consecutive quarters of manufacturing footprint business aftermarket growth in Husqvarna Construction Divis
Slide 5: Focused marketing activities to grow Pro Robotics golf ecosystem
Focused marketing activities to grow Pro Robotics golf ecosystem 5
Slide 6: Delivering on the transformative cost-out program
Delivering on the transformative YTD savings end of Q3 2026 cost-out program (SEKm) 935 >SEK 4bn savings planned to 2030 o/w SEK 3bn end of 2028 Achieved in Q3 2026 (SEKm) Sourcing 305 Achieved Design-to-value 23% Main cost-out drivers of planned Manufacturing in Q3 2026 savings Logistics • Best cos
Slide 7: Sales
Sales Q3 Net sales (SEKm) Net sales Organic sales growth 9,012 (Q3 2025: 9,204) SEKm LTM LTM 16 000 64 000 10% 10% Organic: -5% 5% 5% 12 000 48 000 Currency: +3% 0% 0% Total: -2% 8 000 32 000 -5% -5% • Decline in Forest & Garden 4 000 16 000 -10% -10% Division 0 0 -15% -15% • Growth in Gardena Divis
Slide 8: Earnings: Operating income, ex IAC
Q3 Earnings Operating income, ex IAC -246 (SEKm) (Q3 2025: 140) Operating income and margin, excluding IAC Operating margin, ex IAC SEKm 2 500 25% -2.7% 2 000 20% (Q3 2025: 1.5%) 1 500 15% 1 000 10% • Earnings impacted by lower 500 5% sales volumes, inventory 0 0% reduction, unfavorable mix, higher
Slide 9: Husqvarna Forest & Garden Division
Husqvarna Forest Operating income and & Garden Division Net sales SEKm LTM margin, ex IAC SEKm LTM 10 000 40 000 1 400 14% Market and topline 1 200 12% • Unfavorable weather conditions and a weak consumer sentiment 8 000 32 000 1 000 10% in Europe 800 8% 6 000 24 000 • Lower sales for the Wheeled an
Slide 10: Gardena Division
Gardena Division Operating income and Net sales margin, ex IAC SEKm LTM SEKm LTM 5 000 20 000 1 000 10% Market and topline 800 8% • Strong growth in Watering business in Europe and 4 000 16 000 North America 600 6% 3 000 12 000 • Market share gains in key markets 400 4% • Sales decline in Powered Ga
Slide 11: Husqvarna Construction Division
Husqvarna Construction Operating income and Division Net sales SEKm LTM margin, ex IAC SEKm LTM 2 500 10 000 300 10% Market and topline • Growth for power cutters in Sawing and Drilling BPU and 2 000 8 000 240 8% Compaction, Placement & Demolition BPU 1 500 6 000 180 6% • Solid aftermarket growth •
Slide 12: Patrik Johnson, CFO
Patrik Johnson CFO Husqvarna
Slide 13: Q3 EBIT bridge (ex. IAC)
Q3 EBIT bridge (ex. IAC) SEKm SEK -385m -15 140 1.5% margin -470 -246 -2.7% margin +125 -55 +10 +10 -315 +305 Q3 2025 Volume / Cost inflation Cost savings Price Transformational Currency Tariffs Q3 2026 mix & other initiatives Note: Numbers are rounded to nearest 5 or 0. 13
Slide 14: YTD EBIT bridge (ex. IAC)
YTD EBIT bridge (ex. IAC) SEK -320m SEKm -15 (-9%) 3,742 9.5% margin -785 3,421 +215 -135 9.2% margin +935 +155 -75 -630 YTD 2025 Volume / Cost inflation Cost savings Price Transformational Currency Tariffs YTD 2026 mix & other initiatives Note: Numbers are rounded to nearest 5 or 0. 14
Slide 15: Cash flow
Cash flow Q3 Q3 Jan-Sep Jan-Sep Full year Free operating cash flow SEKm 2026 2025 2026 2025 2025 EBITDA 426 882 5,278 5,963 5,866 SEKm LTM 4 500 9 000 Non-cash and repayment of lease liabilities -183 -209 24 -374 -699 3 000 6 000 EBITDA excl. non-cash and repayment of lease liabilities 244 673 5,302
Slide 16: Return on capital employed
Return on capital employed • Average capital employed Return on capital employed decreased to SEK 40,369m SEKm (41,564) 60 000 12% • ROCE excl. IAC of 6.4% (7.3) 50 000 10% • Lower operating 40 000 8% income 30 000 6% 20 000 4% 10 000 2% 0 0% Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2024 2025 2026 Capital employe
Slide 17: Debt overview
Debt overview Net debt/EBITDA Net debt (excl. IAC) SEKm Ratio 2.1 20 000 3,0 2,5 15 000 2,0 10 000 1,5 Net debt 5 000 1,0 (SEKb) 0,5 0 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 0,0 9.4 2024 2025 2026 Financial net debt Net pension liability Lease liability Net debt/EBITDA excl. IAC Maturity profile • S&P rating: B
Slide 18: Q3 summary
Q3 summary Challenging market environment • Challenging European market conditions and continued growth in North America • Lower volumes, inventory reduction and cost headwinds impacting earnings • Solid cash flow and net debt reduction Consistent strategy execution through multiple actions • Succes
Slide 19: Q&A
Q&A Husqvarna
Slide 20: www.husqvarnagroup.com
Husqvarna Group www.husqvarnagroup.com