Husqvarna Ab Class A · OMXSTO:HUSQ_A
Husqvarna Ab Class A — Q4 2025 Earnings Presentation
21 slides from Husqvarna Ab Class A's earnings presentation, Feb 4, 2026
Slide 1: Q4 and FY 2025 Results – February 4, 2026
Q4 and FY 2025 Results – February 4, 2026 Glen Instone, CEO Terry Burke, CFO
Slide 2: Full-year 2025
Full-year 2025 Organic sales growth despite soft consumer sentiment • Mixed demand • EBIT decline related to headwinds from FX, tariffs and price • Successfully delivering on cost savings • Solid financial position and reduced net debt • Proposal of increasing dividend to SEK 1.25 (1.00) Executing o
Slide 3: New Financial targets: focus on growth and margin expansion
New Financial targets: focus on growth and margin expansion Growth Operating margin Return on Capital Employed TARGET: TARGET: TARGET: Organic growth 3-5% >10% Operating margin 15% ROCE 12,1% 17,7% 15% 10,7% 15% 15,0% 10,0% >10% 13,3% 9,3% 9,3% 12,2% 3-5% 7,9% 11,2% 10,8% 6% 9,0% 6,6% 11,6% 6,2% 2%
Slide 4: Q4 Summary
Q4 Summary Organic sales decline of 3% in the seasonally smallest quarter • Mixed demand with restrained consumer sentiment, mainly in North America • Growth in robotics and power cutters for the professional segment and several residential product categories in Europe • Lower volumes, headwinds fro
Slide 5: Q4 Summary
Q4 Summary • Organic sales decline in the SEK Husqvarna Forest & Garden and • Lower volumes Gardena Divisions • Negative impact from currency NET SALES • Challenging market conditions effects and tariffs OPERATING INCOME SEK 7,429m (8,464) in North America • Delivering on cost savings • Organic sale
Slide 6: Husqvarna Forest & Garden Division
Husqvarna Forest & Garden Division Q4: Organic sales decline of 3%; operating margin at -7.5% • Challenging sentiment in North America • Growth in several residential categories in Europe and pro robotics • Operating income impacted by negative effects from lower volumes and tariffs FY 2025: Organic
Slide 7: Gardena Division
Gardena Division Q4: Organic growth -10%; operating margin at -38.3% • Decline in electric and watering products North America • Growth in the watering business in Europe • Operating income declined due to lower volumes FY 2025: Organic growth -3%; operating margin at 6.4% Note: Operating income exc
Slide 8: Husqvarna Construction Division
Husqvarna Construction Division Q4: Organic growth 2%; operating margin at 3.9% • Growth for power cutters and aftermarket sales • Growth in North America • Operating income decline related to negative impact from currency effects and tariffs FY 2025: Organic growth -2%; operating margin at 8.9% Not
Slide 9: Q4 EBIT bridge (ex. IAC)
Q4 EBIT bridge (ex. IAC) -147 SEKm -15 (-21%) -694 -841 -8.2% margin -11.3% margin +130 +130 +60 -35 -35 -170 +180 -150 Q4 2024 Volume / Cost savings Price Transformational Currency Tariffs Q4 2025 mix / other initiatives Note: Numbers are rounded to nearest 5 or 0.
Slide 10: YTD EBIT bridge (ex. IAC)
YTD EBIT bridge (ex. IAC) -295 SEKm -15 (-9%) 3,195 2,901 6.6% margin 6.2% margin -215 -115 +745 -315 -20 -375 +130 2024 Volume / Cost savings Price Transformational Currency Tariffs 2025 mix / other initiatives Note: Numbers are rounded to nearest 5 or 0.
Slide 11: Successfully delivered
Successfully delivered SEK ~2bn in savings Announced savings: 2022 & 2023 programs Variable & fixed costs, production structure, SEK reduction of 1,300 positions 1,200m Realized 2023: 2024: Savings of savings: SEK 380m SEK 735m 2024 program Announced savings: SEK ~2 bn realized SEK Fixed costs, >400
Slide 12: Cost-out ambition of 4 BSEK to be fully realized in 2030
Cost-out ambition of 4 BSEK to be fully realized in 2030 Focused efficiency and cost-out program aiming at sustainable cost reductions and improved operational efficiency Illustrative ~60% of cost-out Near to Mid term Fully realized in 2030 Expected savings 2026: SEKm ~800 2025 Sourcing Design-to Ma
Slide 13: Consolidated balance sheet
Consolidated balance sheet SEKm Dec 31, 2025 Dec 31, 2024 • Solid financial position Non-current assets 28 869 31 942 Inventories 13 847 13 828 • Inventory build-up ahead of the Trade receivables 4 990 5 552 Other current assets 2 680 3 511 gardening season Cash and cash equivalents 1 707 1 970 • Lo
Slide 14: Net debt / EBITDA (R12)
Net debt / EBITDA (R12) Note: average net debt / rolling 12 months EBITDA, excl. items affecting comparability
Slide 15: Direct operating cash flow
Direct operating cash flow 3 267
Slide 16: Delivered on 2025 sustainability targets
Delivered on 2025 sustainability targets CARBON CIRCULAR PEOPLE Reduce absolute CO2 Launch 50 new Empower 5 million emissions by 35% circular innovations people to make sustainable choices Performance Q4 2025: Performance Q4 2025: Performance Q4 2025: 56% 49 5.6m
Slide 17: Dividend proposal
Dividend proposal • Proposal of increasing dividend by 25% • Payout: 40% of EPS • Dividend policy >40% • Balanced view of current market conditions, financial position and focus on reducing net debt Board proposal for 2025 – SEK 1.25 (1.00)
Slide 18: Summary
Summary Organic sales growth for the full year despite soft consumer sentiment • Full-year organic sales growth of 1%, and declining EBIT related to tariffs, FX and price • Several successful product launches in 2025 • Concluded savings programs from 2022-2024 with run-rate savings of SEK ~2bn • Sol
Slide 19: Solid product pipeline for 2026
Solid product pipeline for 2026 Husqvarna Forest & Garden GARDENA Husqvarna Construction Seven new GARDENA smart The first Husqvarna SILENO sense Husqvarna Automower with with scalable AI Autogrinder scalable AI vision vision technology delivered technology New model and Battery-driven Expanding the
Slide 20: Q&A
Q&A
Slide 21: www.husqvarnagroup.com
Husqvarna Group www.husqvarnagroup.com