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HUSQVARNA GROUP: INTERIM REPORT JANUARY – JUNE 2024

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STOCKHOLM, July 18, 2024 /PRNewswire/ — Solid cash flow in a quarter affected by weak market conditions

Second quarter 2024

Net sales decreased by 9% to SEK 15,430m (16,976). Changes in exchange rates impacted with -1%.Planned exits of low-margin petrol-powered business impacted with -2%. Organic sales decreased by 6%.Operating income was SEK 1,899m (2,101) and the operating margin was 12.3% (12.4).Excluding items affecting comparability, the operating income amounted to SEK 1,906m (2,313) and the operating margin was 12.4% (13.6).Earnings per share before dilution amounted to SEK 2.22 (2.47) and earnings per share after dilution amounted to SEK 2.22 (2.46).Cash flow from operations and investments amounted to SEK 3,459m (4,432). Direct operating cash flow was SEK 3,917m (4,443). Cash flow was impacted by the planned reduction of trade receivables financing and adjusted for this, direct operating cash flow decreased by SEK 252m, compared to last year.

January – June 2024

Net sales decreased by 12% to SEK 30,150m (34,143). Changes in exchange rates had a neutral effect.Planned exits of low-margin petrol-powered business impacted with -3%. Organic sales decreased by 9%.Operating income was SEK 3,830m (4,465) and the operating margin was 12.7% (13.1).Excluding items affecting comparability, the operating income amounted to SEK 3,837m (4,723) and the operating margin was 12,7% (13,8).Earnings per share before dilution amounted to SEK 4.54 (5.37) and earnings per share after dilution amounted to SEK 4.53 (5.35).Cash flow from operations and investments was SEK 2,403m (5,020). Direct operating cash flow was SEK 2,303m (4,204). Cash flow was impacted by the planned reduction of trade receivables financing and adjusted for this, direct operating cash flow improved by SEK 354m, compared to last year. 

Solid cash flow in a quarter affected by weak market conditions 

“During the second quarter, we continued executing on our strategy and strengthened our positions in segments such as robotic mowers for the professional market, consumer battery-powered products and parts and accessories. However, as the quarter progressed, the continued challenging macroeconomic environment and hence cautious consumer spending gradually impacted the business negatively. In combination with unfavorable weather conditions in Central Europe and North America, that significantly impacted Gardena’s watering business, the Group’s organic sales decreased by 6%. The operating income decreased to SEK 1,906m (2,313).This was primarily a result of lower sales volumes, product mix effects and low capacity utilization in our production. Our cost-savings programs are progressing as planned, with savings of SEK 215m in the quarter.

Direct operating cash flow amounted to SEK 3.9bn (4.4) for the quarter with a significant contribution from our active efforts to reduce inventory levels, which in turn has decreased by SEK 3.2bn. Since second half of 2023 we have stopped using trade receivables financing. The effect on cash flow this quarter was approximately SEK -0.3bn and we expect a positive effect from this going forward.

Organic sales in the Husqvarna Forest & Garden Division decreased by 6% during the quarter. Growth was strong in robotic mowers for the professional market, driven by Husqvarna CEORATM. In addition, the segments consumer battery-powered products and parts and accessories performed well. In robotic mowers for the residential market, growth was strong for the Husqvarna Automower® NERA range, which was further expanded with two boundary wire-free models this season. The successful range now comprises five models, which together accounted for approximately one third of our residential robotic mower sales in the quarter. Sales of petrol-powered wheeled products remained at a low level, due to lower demand and the fact that we are proactively exiting parts of the segment in North America. Operating margin improved in the quarter, driven by our cost savings.

In the Gardena Division, organic sales decreased by 9%. Sales started well in the quarter but the watering business was significantly impacted by unfavorable weather conditions in Central Europe and North America, resulting in lower end-user demand.

Organic sales in the Husqvarna Construction Division decreased by 3% in the quarter, where sales were stable in Europe, decreased in North America and grew in emerging markets.

Executing on strategy
We remain committed to our strategy and ongoing transformation where we focus on the high-growth areas of robotics, battery, smart watering and professional solutions. An efficient and sustainable cost base ensures delivery on our ambitions. To mitigate the near-term macroeconomic dynamics, we are now accelerating the existing cost-savings programs. 

In terms of sustainability and reduction of our overall CO₂ footprint, our emissions (Scope 1, 2 and 3) have decreased by -56% compared with the base year of 2015. This means that we have exceeded our target of a -35% reduction by 2025. 

In summary, despite the challenging market conditions in the quarter, our strategic focus and execution of cost efficiencies continues. This will enable us to continue to create sustainable value.”

Pavel Hajman, CEO

Webcast presentation and telephone conference
A webcast presentation of the Q2 report hosted by Pavel Hajman, CEO and Terry Burke, CFO will be held at 10:00 CET on July 18, 2024.

To view the presentation, please use the link: 
husqvarnagroup.creo.se/8080f1ee-635c-4505-8f81-a5c393bb2868  

The dial-in to the telephone conference (in order to ask questions):
+46 (0) 8 505 100 31 (Sweden) or +44 207 107 06 13 (UK)

Dates for Financial Reports 2024
October 23    Interim report for January-September 2024

Contacts
Terry Burke, CFO and Executive Vice President, Finance, IR & Communication 
+46 8 738 90 00

Johan Andersson, Vice President, Investor Relations 
+46 702 100 451

Husqvarna AB (publ), P.O. Box 7454, SE-103 92 Stockholm
Regeringsgatan 28, +46 8 738 90 00, www.husqvarnagroup.com 

Reg. Nr: 556000-5331
NASDAQ OMX Stockholm: HUSQ A, HUSQ B

This report contains insider information that Husqvarna AB is required to disclose under the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the contact person set out above, at 07.00 CET on July 18, 2024

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/husqvarna-group/r/interim-report-january—june-2024,c4016280

The following files are available for download:

https://mb.cision.com/Main/996/4016280/2920210.pdf

Interim report Q2 2024 Husqvarna Group (PDF)

 

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SEEKINK Showcases Innovative E-Paper Applications and OEM/ODM Solutions at Electronica 2026

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MUNICH, Nov. 11, 2026 /PRNewswire/ — SEEKINK, an ePaper display module manufacturer and one-stop provider of ePaper devices, joined forces with TOPTE, a provider of Human-Machine Interface (HMI) display solutions, to exhibit at Electronica 2026 in Munich, Germany, at Hall B6, Booth 518.

Taking advantage of this international electronics industry platform, SEEKINK and TOPTE presented a comprehensive portfolio of low-power display technologies, highlighting their combined capabilities in ePaper modules, monochrome LCDs displays modules, TFT LCDs displays modules, single-module AMOLED displays modules, CTP/RTP touchscreens, fully laminated touch-display modules, and customized OEM/ODM services.

Exhibition Highlights and Product Portfolio

Featuring a contemporary wooden structure and distinctive circular lighting installations, the joint exhibition booth provided visitors with an immersive opportunity to explore display technologies and their applications across different scenarios.

The exhibition highlighted a diverse range of end products and solutions, including E Ink Prism modular walls, ePaper photo frames and advertising displays, smart electronic labels, and digital office solutions.

E Ink Prism Modular Wall Expands Large-Format Commercial Display Applications

One of the key highlights was the E Ink Prism™ 3S modular ePaper wall, which brings new possibilities to large-format commercial display and advertising applications.

Designed as a modular decorative wall, the Prism installation supports scalable configurations, dynamic color changes, and customizable graphic patterns. Its paper-like display surface is glare-free and can maintain static content with near-zero power consumption. These characteristics make it suitable for advertising, brand presentations, reception areas, and creative spaces.

The installation demonstrates the potential of ePaper technology as a modern form of digital surface design, extending its applications beyond conventional displays into architectural and interior decoration.

From ePaper Photo Frames to Smart Accessories: Expanding Consumer Electronics Applications

In the consumer electronics segment, SEEKINK showcased ePaper photo frames in multiple sizes, including 4-inch, 5.89-inch, 7.09-inch, 10.1-inch, and 13.3-inch models. The portfolio also included larger 28.5-inch and 31.5-inch wall-mounted ePaper art frames and advertising displays, exploring new possibilities for digital image presentation in residential and indoor environments.

In addition, SEEKINK presented a range of new ePaper-enabled lifestyle accessories, including round badges, fridge magnet, anti-loss trackers, luggage tags, and pet tags.

With highly customizable designs for branding and personalization, paper-like eye-friendly displays, and a combination of environmental and aesthetic benefits, these products demonstrate the expanding potential of ePaper technology in personal accessories and everyday consumer electronics.

A Diverse ePaper Product Portfolio for Digital Office Applications

For digital office environments, SEEKINK presented several ePaper display solutions, including 3.7-inch color ePaper badges, 7.3-inch color and 7.5-inch 4-color solar-powered ePaper desk signs, and 10.2-inch four-color ePaper door signs.

These products support centralized content management and real-time information synchronization while maintaining low power consumption during continuous display. They are designed to support more energy-efficient and streamlined office operations, with applications including meeting room information, employee identification, and workstation information in shared office environments.

ePaper Labels for Industrial and Logistics Applications

For industrial and logistics applications, SEEKINK showcased a range of compact ePaper labels in sizes including 2.9 inches, 3.7 inches, and 4.2 inches.

The monochrome models combine fast refresh performance, low power consumption, and long battery life, offering a proven and reliable option for the digital transformation of industrial, logistics, and warehousing operations.

Meanwhile, continued technological advancements in BWRY and full-color E Ink Spectra 6 displays are further expanding the visual capabilities of ePaper labels, creating more possibilities for their use in digital industrial and logistics environments.

Strategic Collaboration and Market Focus

SEEKINK and TOPTE aim to provide one-stop display solutions for customers worldwide. By combining SEEKINK’s expertise in ePaper display module manufacturing with TOPTE’s capabilities in HMI display solutions, the two companies seek to address the growing demand for sustainable and energy-efficient display technologies in the European market.

About Jiangxi Xingtai Technology Inc. (SEEKINK)

SEEKINK is a professional ePaper display module manufacturer and one-stop OEM/ODM service provider. Leveraging its integrated industrial capabilities, spanning ePaper display modules to complete ePaper devices, SEEKINK is committed to enabling innovative ePaper applications across smart retail, commercial displays, smart offices, consumer electronics, digital art, and smart industrial and logistics sectors.

Follow SEEKINK:
Website: https://www.seekink.com/
LinkedIn: https://www.linkedin.com/company/seekink/
YouTube: https://www.youtube.com/@Seekink
Business Inquiries: enquiries@seekink.com 

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SolidRun Launches NXP i.MX 95 Portfolio with Complete Industrial Ecosystem and Demonstrated NVIDIA Holoscan Integration

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New i.MX 95 SoM, HummingBoard i.MX 95 IIoT carrier and camera partner ecosystem connect NXP edge nodes to SolidRun’s NVIDIA-based AI systems under one vendor, with all three Ethernet PHYs, including 10GbE, on the module

MUNICH, Germany and TEL AVIV, Israel, Nov. 11, 2026 /PRNewswire/ — SolidRun, a leading developer and manufacturer of high-performance System-on-Modules (SoMs), Single Board Computers (SBCs) and industrial edge computing solutions, today at electronica 2026 announced its NXP® i.MX 95 product family, combining the i.MX 95 SoM, HummingBoard i.MX 95 IIoT industrial carrier, software support, a camera integration ecosystem and a demonstrated end-to-end NVIDIA Holoscan implementation.

Engineered for Industry 4.0, real-time robotics, energy storage systems (ESS) and industrial networking infrastructure, the platform delivers deterministic multi-gigabit networking, real-time safety control and scalable Physical Edge AI. By bringing the essential hardware, software and integration capabilities together under one roof, SolidRun helps OEMs simplify development, reduce engineering risk and accelerate time to market.

“Industrial OEMs and infrastructure providers are moving rapidly toward Physical AI, but they face immense friction with multi-gigabit signal routing and fragmented vendor ecosystems,” said Alexander Schwartz, Head of Product at SolidRun. “By integrating all Ethernet PHYs, including 10GbE, directly on the i.MX 95 SoM while maintaining drop-in pin compatibility with our i.MX8 lines, we eliminate hardware design friction. And because we design both our NXP and NVIDIA edge platforms in-house, our customers gain a single, fully integrated system architecture that scales from compact real-time nodes up to enterprise-grade AI clusters under one roof.”

A Complete Industrial Ecosystem, From Sensor to AI

At the center of the portfolio is SolidRun’s HummingBoard i.MX 95 IIoT industrial carrier, designed for demanding applications that require high-speed networking, real-time control and multi-sensor integration. Key features include:

Industrial connectivity: Dual Gigabit Ethernet, 10GbE RJ45 with optional SFP+ optical connectivity, dual CAN-FD, RS485 and RS232Real-time control and safety: Cortex-M7 (800MHz) and Cortex-M33 (333MHz) safety domain, providing a foundation for ASIL-B and SIL-2 functional safety certificationVision and expansion: Dual MIPI CSI-2 camera interfaces with advanced ISP support, dual display outputs and multiple M.2 slots for AI acceleration, NVMe storage and 5G/cellular connectivity

Beyond the hardware, SolidRun supports a growing ecosystem of camera partners, software solutions, developer tools and application demonstrations, giving customers a coordinated platform from initial evaluation through deployment.

Demonstrated NVIDIA Holoscan Integration

SolidRun is the first to demonstrate a complete, self-contained i.MX 95 to NVIDIA Holoscan to GPU implementation on hardware from a single vendor. The pipeline processes camera and sensor data using the i.MX 95’s integrated ISP and 2.3 TOPS NPU, streams it over 10GbE for GPU inference on a SolidRun NVIDIA-based AI system, and returns commands to the Cortex-M7 core for real-time closed-loop control. Because the implementation is fully software-defined, it handles more complex workloads than fixed-function streaming front ends.

One Vendor, From NXP Edge Nodes to NVIDIA AI Systems

SolidRun brings its NXP-based embedded platforms and NVIDIA-based AI systems together in a unified, software-defined architecture, giving customers a single hardware partner from edge processing to advanced AI inference. This integrated approach simplifies development, reduces integration complexity and accelerates time to market.

Simplifying Industrial Design with Integrated Connectivity

Unlike other i.MX 95 modules that route raw SERDES or USXGMII signals to carrier connectors, SolidRun is the first to integrate all three Ethernet PHYs, including 10GbE, directly on the SoM. This eliminates the need for OEMs to design complex multi-gigabit PHY circuitry, high-speed differential pairs and magnetics, reducing PCB complexity, EMI compliance risk and development cost. All three Ethernet ports support Time-Sensitive Networking (TSN) for deterministic industrial communication.

The i.MX 95 SoM also retains the 47 x 30 mm footprint and pinout compatibility of SolidRun’s previous-generation i.MX8 and i.MX8M Plus modules, providing an upgrade path without redesigning existing carrier hardware. Powered by Arm® Cortex®-A55 cores, LPDDR5 memory and the integrated eIQ® Neutron NPU, the platform increases AI processing and bandwidth while protecting customers’ existing hardware investments.

“Physical AI at the industrial edge demands compute, real-time control and safety on one chip, which is exactly what we designed the i.MX 95 to deliver, with its eIQ Neutron NPU, integrated ISP and dedicated safety domain,” said Robert Thompson, Director, Secure Connected Edge Ecosystem at NXP Semiconductors. “SolidRun’s module puts that capability to work the way OEMs need it, with the hardest parts of the system design already done, so they can bring their next generation of intelligent industrial products to market faster and with less risk.”

Availability

The SolidRun i.MX 95 SoM and HummingBoard i.MX 95 IIoT carrier are shipping now in quad- and hexa-core configurations, with commercial, wide and industrial temperature grades, including industrial operation from -40°C to +85°C. Software support and developer tools are available to accelerate evaluation and deployment.

For more information, visit SolidRun i.MX 95 SoM and HummingBoard i.MX 95 IIoT.

For more information about SolidRun, visit www.solid-run.com.

Click here for the press kit.

About SolidRun

SolidRun is a leading developer and manufacturer of embedded computing and networking solutions, offering Arm- and x86-based Computer-on-Modules (SoMs), single-board computers and industrial edge computing platforms. As an original design manufacturer, SolidRun makes the latest silicon accessible to OEMs and accelerates the development and deployment of embedded, IoT and AI applications. For more information, visit www.solid-run.com.

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London startups backed by 2100 Ventures recognised among Europe’s most promising AI companies

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2100 Ventures ranks #28 among the Top 50 investors and lenders behind Sifted’s AI 100, as Alessandro Benetton backs the next generation of European tech innovators

LONDON, Nov. 11, 2026 /PRNewswire/ — Two London startups backed by European early-stage venture capital firm 2100 Ventures have been recognised in Sifted’s 2026 AI 100, which ranks Europe’s most promising AI-native startups. Swap ranks #9 and Lupa #38, among four 2100 Ventures portfolio companies to make this year’s list. 

2100 Ventures has also been named the only Italian investor among Sifted’s Top 50 investors and lenders behind the AI 100, ranking #28 overall, with twice as many portfolio companies represented as last year. The recognition highlights the firm’s role in identifying and supporting emerging European technology businesses as they develop and scale. 

Alongside Swap (#9) and Lupa (#38), the other 2100 Ventures-backed companies recognised are Mimic (#23) and Orbio (#62). 

More than 1,500 eligible companies were considered for Sifted’s 2026 AI 100, which covers AI-native startups valued under $1bn, with companies assessed on market opportunity, competitive differentiation and momentum. 

London-based Swap, which ranks #9 in the AI 100, provides an AI-powered platform helping ecommerce brands manage and grow their global operations. Founded in 2022, the company raised $100 million in January 2026, following a $40 million Series B, bringing its total funding to $149 million. 

Lupa (#38) is a London-based, AI-native veterinary technology company developing software to modernise veterinary practice management by automating administrative tasks, clinical documentation and client communications. Founded in 2023, the company raised $4 million in seed funding in January 2025 from investors including firstminute capital, 2100 Ventures and Vento by Exor Ventures. In October 2025, Lupa announced a further $20 million Series A, bringing its reported total funding to $25 million. 

Founded in 2023 by Alessandro Benetton alongside Andrea Casasco and Andrea Gennarini, 2100 Ventures invests in and supports early-stage businesses across sectors including AI, SaaS, fintech, data and ClimateTech. The firm – supported by Edizione, one of the most important European industrial holdings, and 21 Invest – works with emerging founders as they develop ambitious ideas and build businesses capable of international impact. 

Alessandro Benetton, Chairman of Edizione, founded the private equity firm 21 Invest in 1992, which has since raised more than €3 billion in capital and invested in more than 110 companies. His involvement in 2100 Ventures extends that investment activity into Europe’s early-stage technology ecosystem, with a focus on backing a new generation of entrepreneurs and innovation that can create shared value for business and society.

Alessandro Benetton said: “Europe has extraordinary entrepreneurial talent, and we believe strongly in giving the next generation of founders the backing they need to turn ambitious ideas into businesses with international impact. 

“Young people represent both the present and the future of our society. We need to listen to them, help them express their talent and support them as they drive innovation and bring forward new solutions for society. For me, this is also what shared value means: supporting enterprise in a way that creates lasting benefits not only for business, but for the wider communities it serves. 

“Having four 2100 Ventures portfolio companies recognised among Sifted’s AI 100 is encouraging. It reflects the ambition of these founders and the importance of giving emerging talent the support, confidence and resources to challenge established models and create new opportunities. That was central to why we created 2100 Ventures.”

 

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