Husqvarna Ab Class A · OMXSTO:HUSQ_A
Husqvarna Ab Class A — Q1 2026 Earnings Presentation
19 slides from Husqvarna Ab Class A's earnings presentation, Apr 23, 2026
Slide 1: Q1 2026 earnings call
Q1 2026 earnings call Glen Instone, CEO Terry Burke, CFO
Slide 2: Glen Instone, CEO
Glen Instone CEO Husqvarna
Slide 3: Q1 summary
Q1 summary 2% Organic sales and earnings growth Organic growth • Solid start of the season despite uncertain market sentiment • Strong growth in key areas • 10% EBIT growth driven by volumes, 1,718 SEKm product mix and cost savings Operating income ex IAC Strategy execution • Successful product laun
Slide 4: Key strategic highlights in the quarter
Key strategic highlights in the quarter Innovation Strategic portfolio management Operational Excellence • Well-received product launches • Establishing P&L-driven business • Activities on track with broad- • Watering, Husqvarna branded portfolio units (BPUs) to drive based contributions robotic law
Slide 5: Sales
Sales Q1 Net sales (SEKm) Net sales Organic sales growth 13,962 (Q1 2025: 14,704) SEKm LTM LTM 20 000 -5% 80 000 10% 10% 5% 5% Organic: 2% 16 000 64 000 Currency: -7% 0% 0% 12 000 48 000 Total: -5% -5% -5% 8 000 32 000 -10% -10% • Organic growth in Forest & 4 000 16 000 -15% -15% Garden and Construc
Slide 6: Profitability
Business Portfolio units grouped into three categories each with specific actions Illustrative Profitable growth Turnaround Increase profitability Profitable Growth • Capture strong market momentum • Strengthen capabilities as a Pro Robotics core differentiator and value Res driver Robotics Core Han
Slide 7: Earnings: Operating income, ex IAC
Q1 Earnings Operating income, ex IAC 1,718 (SEKm) (Q1 2025: 1,561) Operating income and margin, excluding IAC Operating margin, ex IAC SEKm 2 500 +10% 25% 12.3% 2 000 20% (Q1 2025: 10.6%) 1 500 15% • Increase driven by higher 1 000 10% volumes, a positive product 500 5% mix and cost savings 0 0% • C
Slide 8: 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 net sales 1 200 12% • Slightly improved sentiment in North America 8 000 32 000 1 000 10% • Growth mainly driven by robotic lawn mowers for both 800 8% 6 000 24 000 r
Slide 9: 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, mainly driven by Europe 4 000 16 000 600 6% • Challenges Powered Garden: electric products and robotic 3 000 12 000 lawn mowers 400 4% 200 2%
Slide 10: Husqvarna Construction Division
Husqvarna Construction Operating income and Division Net sales SEKm LTM margin, ex IAC SEKm LTM 2 500 10 000 250 25% Market and topline • Growth mainly driven by Sawing and Drilling products 2 000 8 000 200 20% • Solid aftermarket sales 1 500 6 000 150 15% • Continued improved market sentiment in US
Slide 11: Terry Burke, CFO
Terry Burke CFO Husqvarna
Slide 12: Q1 EBIT bridge (ex. IAC)
Q1 EBIT bridge (ex. IAC) SEKm +155 -15 (+10%) +50 1,561 -50 1,718 +245 -30 -85 12.3% margin 10.6% margin +25 Q1 2025 Volume / Cost savings Price Transformational Currency Tariffs Q1 2026 mix / other initiatives Note: Numbers are rounded to nearest 5 or 0. 12
Slide 13: Cash flow
Cash flow Free operating cash flow Q1 Q1 Full year SEKm 2026 2025 2025 SEKm LTM EBITDA 2,449 2,267 2,866 4 500 9 000 Non-cash and other items* -10 -108 -677 3 000 6 000 EBITDA excl. non-cash 1 500 3 000 and other items 2,439 2,160 5,189 Capex -384 -531 -2,258 0 0 NWC -3,192 -1,759 -169 -1 500 -3 000
Slide 14: Return on capital employed
Return on capital employed • Capital employed Return on capital employed decreased to SEK 40,033m SEKm (43,532) 60 000 12% • Improved LTM operating 50 000 10% income, ex IAC at SEK 3,058m (2,825) 40 000 8% • ROCE excl. IAC of 7.6% 30 000 6% (6.5) 20 000 4% 10 000 2% 0 0% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2
Slide 15: Consolidated balance sheet
Consolidated balance sheet SEKm Mar 31, 2026 Mar 31, 2025 Non-current assets 28,840 30,055 • Solid financial position Inventories 13,952 13,024 • Inventory build-up ahead Trade receivables 11,219 10,806 of the gardening season Other current assets 2,513 3,644 Cash and cash equivalents 1,708 1,919 •
Slide 16: Debt overview
Debt overview Net debt/EBITDA Net debt (excl. IAC) SEKm Ratio 2.0 20 000 3,0 2,5 15 000 2,0 10 000 1,5 Net debt 5 000 1,0 (SEKb) 0,5 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 0,0 13.8 2024 2025 2026 Financial net debt Net pension liability Lease liability Net debt/EBITDA excl. IAC Maturity profile • Refinancing:
Slide 17: Q1 summary
Q1 summary Organic sales and earnings growth • Solid start of the season despite uncertain market sentiment • Strong growth in key areas • 10% EBIT growth driven by volumes, product mix and cost savings Strategy execution • Successful product launches • Progress in strategic portfolio management and
Slide 18: Q&A
Q&A Husqvarna
Slide 19: www.husqvarnagroup.com
Husqvarna Group www.husqvarnagroup.com