Connect with us

Technology

HUSQVARNA GROUP: INTERIM REPORT JANUARY – SEPTEMBER 2024

Published

on

STOCKHOLM, Oct. 23, 2024 /PRNewswire/ — Growth in the strategic areas robotics and battery

Third quarter 2024           

Net sales decreased by 7% to SEK 9,739m (10,512). Changes in exchange rates impacted by -3%. Organic sales decreased by 4%.           Planned exits of low-margin petrol-powered business have been completed, with no sales impact in the quarter.           Operating income was SEK 52m (398) and the operating margin was 0.5% (3.8).           Excluding items affecting comparability, the operating income amounted to SEK 53m (415) and the operating margin was 0.5% (3.9).           Earnings per share before dilution amounted to SEK -0.27 (0.22) and earnings per share after dilution amounted to SEK -0.27 (0.22).           Cash flow from operations and investments amounted to SEK 2,892m (137). Direct operating cash flow was SEK 4,020m (1,814).           In October, additional cost reduction activities were announced. These include cost savings of SEK 500m.

January – September 2024           

Net sales decreased by 11% to SEK 39,888m (44,655). Changes in exchange rates impacted by -1%.           Planned exits of low-margin petrol-powered business impacted with -3%. Organic sales decreased by 7%.           Operating income was SEK 3,882m (4,863) and the operating margin was 9.7% (10.9).           Excluding items affecting comparability, the operating income amounted to SEK 3,889m (5,138) and the operating margin was 9.8% (11.5).           Earnings per share before dilution amounted to SEK 4.27 (5.59) and earnings per share after dilution amounted to SEK 4.26 (5.56).           Cash flow from operations and investments was SEK 5,296m (5,157). Direct operating cash flow was SEK 6,323m (6,018).

Growth in the strategic areas robotics and battery 

“In the third quarter, we delivered growth in our strategic focus areas robotic mowers and battery-powered products, as well as a strong cash flow. However, organic sales for the Group decreased by 4%, which reflects a challenging market situation with restrained consumer spending.

Organic sales in the Husqvarna Forest & Garden Division decreased by 1%. We grew in robotic mowers, in both the professional and residential markets as well as in battery-powered products. The division achieved growth in Europe, while the business decreased in North America.

Organic sales in the Gardena Division decreased by 8%, with good performance for hand tools and battery-powered products. However, sales of watering products decreased during the start of the quarter, due to challenging weather conditions, but improved gradually.

In the Husqvarna Construction Division, organic sales decreased by 8%. The challenging market situation, with weak demand in North America continued, while sales in Europe grew.

Operating income, excluding items affecting comparability, amounted to SEK 53m (415). The decrease was driven by lower volumes, leading to lower capacity utilization in production, as well as the impact of increased promotional activities toward the end of the gardening season.

Our direct operating cash flow grew to SEK 4.0bn (1.8), driven by continued inventory reductions and a strengthened cash flow from the decrease in trade receivables. 

In response to the challenging market environment, we have accelerated existing cost-savings programs with good results. Realized savings amounted to SEK 190m during the quarter and SEK 590m for the nine-month period.  

Further mitigating activities to reduce fixed costs and enhance efficiency across the Group are announced today. Savings will amount to SEK 500m, with the majority realized in 2025. As part of this plan, the Group expects to reduce 400 positions. Non-recurring costs related to these savings are expected to amount to SEK 600m and will be recognized in the fourth quarter. We are committed to identifying and implementing additional efficiency measures to further enhance our operational structure and effectiveness.

Despite the challenging environment, we are focused on executing our strategy and positioning the Group for long-term value creation. We continue to invest in our growth areas and look forward to our ambitious product launch program for the gardening season 2025. This will feature a wide range of new products, including 13 new robotic mower models equipped with the latest generation of intelligence and boundary wire free navigation.”

Pavel Hajman, CEO 

Webcast presentation and telephone conference
A webcast presentation of the Q3 report hosted by Pavel Hajman, CEO and Terry Burke, CFO will be held at 10:00 CET on October 23, 2024.

To view the presentation, please use the link: 
https://husqvarnagroup.creo.se/cedeece6-0700-4eb4-8457-f49a744d3dd3

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 2025

February 5

Year-end report for January-December 2024

April 24

Interim report for January-March 2025

July 18

Interim report for January-June 2025

October 21          

Interim report for January-September 2025

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 October 23, 2024.

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

https://news.cision.com/husqvarna-group/r/interim-report-january—september-2024,c4055016

The following files are available for download:

https://mb.cision.com/Main/996/4055016/3069001.pdf

Interim report Q3 2024 Husqvarna Group (PDF)

View original content:https://www.prnewswire.com/news-releases/husqvarna-group-interim-report-january–september-2024-302284091.html

SOURCE Husqvarna Group

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

Department of Health – Abu Dhabi and Fred Hutchinson Cancer Center collaborate on cancer research and personalized prevention

Published

on

By

ABU DHABI, UAE, May 13, 2026 /PRNewswire/ — The Department of Health – Abu Dhabi (DoH), regulator of the healthcare sector in the emirate, together with the Abu Dhabi Public Health Center (ADPHC), today announced the execution of a Memorandum of Understanding (“MOU”) with Fred Hutchinson Cancer Center (Fred Hutch), one of the world’s leading cancer research institutions and home to three Nobel laureates.

By pairing Abu Dhabi’s unified clinical and genomic data infrastructure, sovereign AI capabilities and governed data environments with Fred Hutch’s globally renowned research engine, the ensuing collaborations will pave the way to shortening the distance between scientific discovery and patient benefit, for Abu Dhabi’s community and beyond.

Among the projected collaborations, the two organizations will consider leveraging Abu Dhabi’s intelligent health system, and layering Fred Hutch’s world-class science onto the secure, high-quality, real-world data foundation Abu Dhabi has built. That foundation includes the emirate’s pioneering liquid biopsy programme launched last year, one of the first national-scale efforts of its kind anywhere in the world. Alongside Abu Dhabi’s AI multi-cancer early detection work, and the world’s largest clinically integrated population-scale genomics programme – with nearly one million genomes sequence.

During his visit to the center, HE Mansoor Ibrahim Al Mansoori, Chairman of DoH commented: “Cancer is one of the defining health challenges of our time, and progress depends on combining world-class science with population-scale data, advanced AI, and research. In Abu Dhabi, we have built an AI-enabled health system that ‘cares before it cures, delivering prevention at population scale. We are already achieving some of the highest early cancer detection rates in the world, and through our partnership with Fred Hutchinson Cancer Center we are committed to bringing breakthroughs to people in Abu Dhabi and beyond.”

“This MOU between Fred Hutch Cancer Center and the Abu Dhabi Department of Health underscores the power of working together to prevent and treat cancer,” said Thomas Lynch Jr., MD, president and director of Fred Hutch and holder of the Raisbeck Endowed Chair. “Our organizations share a deep commitment to research and to provide the highest levels of cancer prevention, diagnosis and care to our communities, and we are excited to bring our expertise, tools and datasets together to identify unique approaches to cancer care and research in pursuit of our boldest goals.”

Photo – https://mma.prnewswire.com/media/2979204/DoH_Abu_Dhabi.jpg
Logo- https://mma.prnewswire.com/media/2714371/5968536/DoH_Logo.jpg

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/department-of-health—abu-dhabi-and-fred-hutchinson-cancer-center-collaborate-on-cancer-research-and-personalized-prevention-302770894.html

SOURCE The Department of Health – Abu Dhabi

Continue Reading

Technology

L’Mychele & Associates Founder LaKessia Hill Completes North Texas FWC Hospitality Program (FIFA World Cup) and Appears on The Jeff Crilley Show

Published

on

By

DALLAS, May 13, 2026 /PRNewswire/ — L’Mychele & Associates LLC is proud to announce two significant milestones for the growing strategic meetings and events firm: Founder & CEO LaKessia Hill has successfully completed the North Texas FWC Organizing Committee’s Hospitality Program and was recently featured on The Jeff Crilley Show.

These accomplishments reflect the company’s continued momentum within the hospitality, tourism, and events industries as L’Mychele & Associates expands its presence through strategic partnerships, leadership engagement, and elevated client experiences.

The completion of the North Texas FWC Hospitality Program further strengthens the company’s commitment to delivering intentional, guest-centered experiences rooted in strategy, hospitality, and meaningful connection — values that are central to the L’Mychele & Associates brand.

In addition, Hill recently joined veteran journalist and media personality Jeff Crilley on The Jeff Crilley Show to discuss her entrepreneurial journey, the vision behind L’Mychele & Associates, and the company’s approach to creating experiences as bold as its clients’ goals.

“Both opportunities represent growth, visibility, and the continued evolution of our brand,” said Hill. “Hospitality is more than service — it’s about creating intentional moments that leave lasting impressions. Being recognized through the hospitality program and having the opportunity to share our story on The Jeff Crilley Show were both incredibly meaningful experiences.”

Known for its consultative and strategy-first approach, L’Mychele & Associates specializes in executive summits, conferences, nonprofit galas, incentive experiences, corporate meetings, and curated social gatherings. The firm partners with organizations, brands, and leaders to transform ideas into impactful experiences through strategic planning, management, and execution.

Guided by the company’s signature philosophy — “The Art of Listening. The Science of Execution.” — L’Mychele & Associates continues to position itself as a strategic partner within the meetings, events, and hospitality industries.

The episode of The Jeff Crilley Show featuring LaKessia Hill is now available across multiple platforms, including YouTube, Facebook, LinkedIn, and Transistor.

About L’Mychele & Associates LLC

L’Mychele & Associates LLC is a Dallas-based strategic meetings and events firm specializing in executive summits, corporate meetings, conferences, nonprofit events, incentive experiences, and curated social gatherings. The company is known for blending strategy, hospitality, and execution to create experiences that drive connection and lasting impact.

Media Contact

LaKessia Hill
Founder & CEO, L’Mychele & Associates LLC
469-402-7825

LaKessia@LMychele.com
www.LMychele.com  

View original content to download multimedia:https://www.prnewswire.com/news-releases/lmychele–associates-founder-lakessia-hill-completes-north-texas-fwc-hospitality-program-fifa-world-cup-and-appears-on-the-jeff-crilley-show-302770319.html

SOURCE L’Mychele & Associates LLC

Continue Reading

Technology

HBX GROUP ANNOUNCES HALF YEAR 2026 FINANCIAL RESULTS

Published

on

By

LONDON, May 13, 2026 /PRNewswire/ — HBX Group International plc (HBX Group, the Company, the Group, HBX.SM) announces its Half Year 2026 results for the six months ended 31 March 2026.  

TTV up +17% to €3.8bn, and Revenue of €309m, up +1% YoY at constant currency, reflecting targeted commercial and strategic actions to prioritise growth and capture market share, partly offset by disruption from the Middle East conflictAdjusted EBITDA up +9% at constant currency to €163m, with margin of 53% expanding +4ppts in constant currency. Profit after tax was €28m (H1 25: €(227)m).Strong cash generation with 103% cash conversion and leverage at 1.7x Adjusted Net Debt / Adjusted EBITDA. S €100m share buyback programme and a 7.5 cents per share (c.€18m) interim dividend.Executing the strategic building blocks, including the acquisition of Bridgify announced today.FY26E guidance revised to reflect the impact of Middle East conflict and macroeconomic uncertainty. New FY26 guidance is for constant currency TTV growth +11% to +15%, Revenue growth -4% to +1% and Adjusted EBITDA growth -5% to -2%, and Operating Free Cash Flow conversion between 90% and 100%. Medium-term guidance is unchanged.

First half 2026 Financial Performance Summary1

6 months
ended 31
March 2026

6 months
ended 31
March 2025

Change
constant
currency2

Change 

Total Transaction Value (TTV) (€m)

3,770

3,370

+17 %

+12 %

Revenue (€m)

309

319

+1 %

-3 %

Adjusted EBITDA (€m)

163

159

+9 %

+3 %

Delivering profitable growth

Group TTV increased to €3.8bn in the first half, up +17% at constant currency. TTV contribution increased from shorter lead-time bookings, Third Party Supply and Online Travel Agents.

Revenue of €309m, increased +1% in constant currency. Take rate was 8.2%, down 1.3ppts year‑on‑year.

Adjusted EBITDA increased 9%, with margin +4ppts.

Net finance costs were €35m, 77% lower than the prior year. The tax charge was €16m. Adjusted Earnings were €83m, up +44% at constant currency.

Delivering commercial milestones in line with strategy

Commercial progress in H1 2026 reflected HBX Group’s strategy to expand its global travel ecosystem and drive profitability through AI-driven operational efficiency and commercial performance. Key developments included new distribution partnerships in Asia-Pacific, acquisitions such as Bridgify and PerfectStay to strengthen experiences and dynamic capabilities, and new platform and fintech initiatives.

HBX group also continued embedding AI across products and operations, including AI-powered solutions for Bedsonline and HotelTech, while scaling internal AI agents already delivering measurable savings and supporting more than 120 identified use cases, reinforcing the Group’s connected B2B travel ecosystem strategy.

Regional performance and trading dynamics

TTV grew in double-digits in all three regions, up +18% in the Americas and +16% in both MEAPAC and Europe, at constant currency.

In Europe, TTV growth was supported by strong intra‑regional and domestic travel. Asia Pacific up +18%, partly offset by slower growth in the Middle East and disruption on some Europe-Asia corridors. In the Americas, TTV was predominantly driven by domestic demand.

Middle East impact and near‑term outlook

Since late February, the escalation of the conflict in the Middle East has impacted travel demand across affected destinations and selected international corridors, resulting in increased volatility, shorter booking windows and reduced near‑term visibility. The impact of this on H1 Group TTV growth was approximately 1ppt.

HBX Group implemented dynamic pricing, inventory reallocation and active partner support. Demand outside affected corridors has been more resilient.

Cost discipline, cash generation and capital allocation

Underlying operating costs fell by 5%. Performance was supported by productivity initiatives, automation and AI.

On a last 12-month basis, Operating Free Cash Flow was €447m, with cash conversion of 103% over the last 12 months. Adjusted Net Debt at 31 March 2026 stood at €741m.

Outlook

The Group started FY26 with strong performance. Since late February, trading conditions have been adversely impacted by the escalation of the conflict in the Middle East and broader geopolitical uncertainty.

The Group has revised its FY26 guidance. Updated outlook reflects a -4ppt effect of the Middle East conflict on TTV growth. Assumes four months of disruption with gradual stabilisation.

For the complete press release and disclaimer applicable to this information, please visit www.investors.hbxgroup.com

1 See financial statements for definitions of specific financial terms and KPIs, including any Alternative Performance Measures (APMs)
2 Constant currency changes exclude the impact of foreign exchange rate fluctuations by translating current year results at the exchange rates used in the prior year.

Contact: 
Clara Truyols
clatruyols@hbxgroup.com 

View original content to download multimedia:https://www.prnewswire.com/news-releases/hbx-group-announces-half-year-2026-financial-results-302770897.html

SOURCE HBX Group

Continue Reading

Trending