Connect with us

Technology

HUSQVARNA GROUP: YEAR-END REPORT JANUARY – DECEMBER 2024

Published

on

STOCKHOLM, Feb. 5, 2025 /PRNewswire/ — Strong cash flow during a challenging year

Fourth quarter 2024

Net sales decreased by 2% to SEK 8,464m (8,605). Changes in exchange rates contributed with 1%. Sales declined organically by 3%.Operating income amounted to SEK -1,285m (-983) and the operating margin was -15.2% (-11.4).Excluding items affecting comparability, the operating income amounted to SEK -694m (-168) and the operating margin was -8.2% (-1.9).Items affecting comparability amounted to SEK -591m (-815), and was related to the Group’s cost savings initiatives, announced in October 2024 and related to costs following the reclassification of the Orangeburg manufacturing facility in North America to assets held for sale.Earnings per share after dilution amounted to SEK -1.95 (-1.77) and earnings per share excluding items affecting comparability and after dilution amounted to SEK -1.15 (-0.67).Cash flow from operations and investments amounted to SEK -925m (-743). Direct operating cash flow increased to SEK 582m (523).

January – December 2024

Net sales decreased by 9% to SEK 48,352m (53,261). Changes in exchange rates had a neutral effect.Planned exits of low-margin petrol-powered business impacted with -2%. Sales declined organically by 7%.Operating income was SEK 2,597m (3,880) and the operating margin was 5.4% (7.3).Excluding items affecting comparability, the operating income amounted to SEK 3,195m (4,970) and the operating margin was 6.6% (9.3).Earnings per share after dilution amounted to SEK 2.31 (3.81) and earnings per share excluding items affecting comparability and after dilution amounted to SEK 3.12 (5.28).Cash flow from operations and investments was SEK 4,372m (4,414). Direct operating cash flow increased to SEK 6,905m (6,541), driven by reduced inventories.The CO2 emissions across the value chain have been reduced by -56% (-44) compared to the 2015 base line, see page 8.The Board of Directors will propose a dividend for 2024 of SEK 1.00 per share (3.00) to the Annual General Meeting.

Strong cash flow during a challenging year

“In 2024, we accelerated our focus on executing the strategy and adapting the organization to drive efficiency and continued transformation. This enabled us to achieve significant cost savings, deliver strong cash flow, and implement a comprehensive product launch program for the 2025 season.

Challenging market conditions in the fourth quarter

The year’s challenging market situation continued into the fourth quarter, with subsequently lower consumer demand. The Group’s sales declined organically by 3% and the operating income, excluding items affecting comparability, amounted to SEK -694m (-168) for the fourth quarter.

In the Husqvarna Forest & Garden Division, organic growth was unchanged for the quarter, with growth in handheld and wheeled products, as well as in parts and accessories. Sales in the Gardena Division decreased, with growth for hand tools, while sales of watering products declined. In the Husqvarna Construction Division, sales declined in North America due to a continuation of the challenging market situation, however, our sales increased in Europe.

Strong cash flow and reduced net debt

For the full year 2024, operating income, excluding items affecting comparability, amounted to SEK 3.2bn (5.0). The decrease was due to lower sales volumes with higher promotional activities and a negative product mix. This was partly offset by good results from savings programs, which generated SEK 735m. Direct operating cash flow increased to SEK 6.9bn (6.5), driven by substantial inventory reductions. We have reduced net debt by SEK 1.2bn compared to last year. The Board will propose to the Annual General Meeting a dividend of SEK 1.00 (3.00) for the year, in line with our dividend policy, representing 32% of earnings per share excluding items affecting comparability, or 43% of earnings per share.

Improving results in North America

In recent years, the Husqvarna Forest & Garden Division has taken decisive actions to improve results in North America. Low-margin business has been discontinued and the production structure has been consolidated. We are now entering the next step where we divest our manufacturing facility in Orangeburg, SC, to Flex Ltd. In parallel, we have entered a long-term supplier agreement with Flex, to ensure continued production of the division’s wheeled products and assembly of handheld products in the US. This is a partnership that will build profitability, improve capital efficiency, enhance production flexibility and strengthen our competitiveness in North America. Related cost savings are expected to amount to SEK 350m by 2030 (see page 9).

Our strategic transformation continues

Our long-term transformation is about delivering value to customers, shareholders and employees through growth in the focus areas; robotic mowers, battery-powered products, watering and solutions for the professional market. Since 2021 we measure our progress through operational ambitions, including share of electrification, number of connected devices, and sales of robotic mowers. During the year, the share of electrified products reached 44% (42) of our sales of motorized products. Connected devices grew to 4.9 million (4.5). For robotic mowers, net sales amounted to SEK 7.2bn (8.1). We strengthened our position and grew in the professional robotics market. However, sales in the residential segment declined due to increased competition in the low-value segments, as well as restrained consumer spending, particularly for the high value segments. For the 2025 season, we have significantly expanded our range with new boundary wire-free robotic mowers.

As the current strategic period for the Group approaches its end, our focus remains firm – we are continuing to prioritize areas with profitable growth potential, and we will present an update of our strategy at a Capital Markets Day in the fourth quarter of 2025.

We deliver on our sustainability targets

Our ambition to electrify the product range is the main enabler to consistently reduce our carbon footprint. To date, we have reduced CO2 emissions (Scope 1, 2 and 3) by -56% compared with the base year of 2015. With that, we have exceeded our target of a -35% reduction by 2025. Work to reduce CO2 emissions is continuing and includes exploring alternative fuels for some of our products.

I would like to express my gratitude to all colleagues and business partners for their efforts and support during the year. Together, we will continue to focus on opportunities in the market, strengthen our position and aim to increase our profitability. Our cost-saving efforts are successful, and we are well prepared for the 2025 season, with a strong product range and many exciting launches for our customers.”

Pavel Hajman, CEO 

Webcast presentation and telephone conference

A webcast presentation of the Q4 report hosted by Pavel Hajman, CEO and Terry Burke, CFO will be held at 10:00 CET on February 5, 2025.

To view the presentation, please use the link: https://husqvarnagroup.creo.se/4f888317-fb0e-4ca4-9abd-4d677a0dda92

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

April 24           Interim report for January-March 2025
April 29           Annual General Meeting 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 February 5, 2025 

Factors affecting forward-looking statements
This report contains forward-looking statements in the sense referred to in the American Private Securities Litigation Reform Act of 1995. Such statements comprise, among other things, financial goals, goals of future business and financial plans. These statements are based on present expectations and are subject to risks and uncertainties that may give rise to major deviations in the result due to several aspects. These aspects include, among other things: consumer demand and market conditions in the geographical areas and lines of business in which Husqvarna operates, the effects of currency fluctuations, downward pressure on prices due to competition, a material reduction in sales by important distributors, success in developing new products and in marketing, outcome of product responsibility litigation, progress in terms of reaching the goals set for productivity and efficient use of capital, successful identification of growth opportunities and acquisition objects, integration of these into the existing business and successful achievement of goals for making the supply chain more efficient.

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

https://news.cision.com/husqvarna-group/r/year-end-report-january—december-2024,c4100673

The following files are available for download:

 

View original content:https://www.prnewswire.com/news-releases/husqvarna-group-year-end-report-january—december-2024-302368523.html

SOURCE Husqvarna Group

Continue Reading
Click to comment

Leave a Reply

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

Technology

Singtel Receives Four Frost & Sullivan 2026 Recognitions for Leadership in Enterprise Connectivity, Cybersecurity, and Digital Transformation

Published

on

By

The recognitions highlight Singtel’s leadership in secure connectivity, network transformation, IoT innovation, and cybersecurity, delivering customer value through intelligent digital infrastructure and AI-enabled enterprise services.

SAN ANTONIO, July 20, 2026 /CNW/ — Frost & Sullivan is pleased to honor Singtel with the 2026 Southeast Asia IoT Connectivity Service Provider Company of the Year, 2026 Singapore Network Transformation Customer Value Leadership, 2026 Singapore Cybersecurity Services Company of the Year, and 2026 Singapore SD-WAN and SASE Service Provider Company of the Year recognitions. These acknowledgements reflect Singtel’s outstanding achievements in delivering secure, intelligent, and scalable digital infrastructure that enables enterprises to modernize operations, simplify complexity, and accelerate digital transformation across Singapore and Southeast Asia. They underscore the company’s consistent leadership in strategy execution, customer value creation, and innovation across enterprise connectivity, cybersecurity, software-defined networking, and IoT connectivity services.

Frost & Sullivan evaluates companies through a rigorous benchmarking process across two core dimensions: strategy effectiveness and strategy execution. Singtel excelled in both, demonstrating its ability to anticipate evolving enterprise requirements while consistently translating long-term vision into measurable customer outcomes. Through platforms such as Singtel CUBΣ (CUBE) and its multidomestic IoT connectivity architecture, the company continues to unify networking, cybersecurity, automation, and AI-driven intelligence into integrated solutions that address the growing complexity of hybrid, multicloud, and connected environments. “Singtel has established itself as a benchmark for enterprise digital infrastructure by converging connectivity, cybersecurity, network intelligence, and IoT orchestration into a unified, customer-centric ecosystem. Its disciplined execution, platform-led innovation, and commitment to simplifying complex enterprise environments continue to strengthen operational resilience and deliver sustained value for organizations across the region,” said Kenny Yeo, Director at Frost & Sullivan.

Guided by a long-term strategy focused on digital innovation, intelligent infrastructure, and customer-centric transformation, Singtel has moved well-beyond traditional telecommunications to a trusted technology partner for enterprises navigating increasingly connected and data-driven environments. Its strategic investments in AI-enabled operations, cloud-native platforms, secure connectivity, and ecosystem partnerships enable organizations to modernize critical infrastructure while maintaining the flexibility to support future business growth.

The company’s strategic agility and sustained investment in integrated digital platforms have enabled it to scale innovative services across local, regional, and global enterprise environments. Innovation remains central to Singtel’s approach through solutions including the CUBΣ connected intelligence platform, multidomestic IoT connectivity powered by eSIM orchestration, managed cybersecurity services, AI-driven network automation, and network-as-a-service capabilities. These solutions simplify network and security management, strengthen cyber resilience, improve operational visibility, and provide enterprises with scalable, secure, and high-performing connectivity across cloud, edge, IoT, and hybrid infrastructures.

By streamlining service delivery through intelligent automation, centralized orchestration, proactive monitoring, and flexible managed and co-managed service models, Singtel continues to help organizations reduce operational complexity while improving service reliability and business agility. Its ability to integrate best-of-breed technologies in a unified operational framework, combined with strong regional network ownership and localized expertise, enables customers to confidently scale digital initiatives while maintaining security, governance, and operational excellence.

Frost & Sullivan commends Singtel for setting a high standard in competitive strategy, execution, and customer value across multiple technology domains. By combining intelligent networking, secure digital infrastructure, AI-enabled operations, and cross-border IoT capabilities in an integrated platform strategy, the company is shaping the future of enterprise connectivity while helping organizations build resilient, future-ready digital ecosystems.

Each year, Frost & Sullivan presents its Company of the Year and Customer Value Leadership recognitions to organizations that demonstrate outstanding strategy development and implementation, resulting in measurable improvements in customer satisfaction, competitive positioning, and business performance. These recognitions honor forward-thinking companies that continuously raise industry standards through innovation, operational excellence, and long-term value creation.

Frost & Sullivan Best Practices Recognition
Frost & Sullivan’s Best Practices Recognitions honor companies across regional and global markets that exhibit exceptional achievement and consistent excellence in areas such as leadership, technological innovation, customer experience, and strategic product development. Each recognition is the result of a rigorous analytical process in which Frost & Sullivan industry experts benchmark performance through comprehensive interviews, deep-dive analysis, and extensive secondary research. The goal is to identify true best-in-class organizations that are driving transformative growth and setting new industry standards.
Contact us: Start the discussion.

Contact:
Tarini Singh
E: Tarini.Singh@frost.com

 

View original content:https://www.prnewswire.com/news-releases/singtel-receives-four-frost–sullivan-2026-recognitions-for-leadership-in-enterprise-connectivity-cybersecurity-and-digital-transformation-302829114.html

SOURCE Frost & Sullivan

Continue Reading

Technology

Foreign entrepreneurs find business opportunities and a home in Yiwu

Published

on

By

BEIJING, July 19, 2026 /PRNewswire/ — A report from People’s Daily:

Yiwu, a city in east China’s Zhejiang province, is neither a coastal hub nor a border town. Yet it has built a trade network that reaches across the globe. Today, the city is home to more than 10,000 foreign-invested businesses and around 38,000 foreign merchants who live and work there.

People’s Daily reporters recently visited Yiwu to meet foreign entrepreneurs who have built successful businesses and settled down in the city. They shared stories of growing alongside Yiwu and becoming part of its remarkable transformation.

“I wouldn’t be where I am today without Yiwu,” said Senegalese businessman Sourakhata Tirera, a sentiment he often expresses. He first came to Yiwu in 2003 to source hardware products and was immediately impressed by the Yiwu International Trade Market. He noted, “If you can’t find something here, it’s probably because you haven’t searched carefully enough.”

In 2007, Tirera opened a foreign trade agency in Yiwu. In 2012, leveraging Yiwu’s comprehensive foreign trade pilot reform project, he established a wholly foreign-owned trading company. Today, his company ships 200 to 300 containers every month, dealing in more than 1,000 product categories and providing one-stop sourcing services for clients across Africa.

“Everyone is fascinated by Yiwu because it’s a place full of opportunities. Things that once seemed impossible can become reality here,” Tirera told People’s Daily after he finished receiving a trade delegation from Gabon.

Yemeni businessman Maged Mohammed Ali Al-Huraibi came to Yiwu alone in 2008 to pursue his entrepreneurial dream and founded a cosmetics trading company. In 2024, Yiwu launched a one-stop entrepreneurship service for foreign talent, offering factory leasing, policy consultation, and talent recruitment. Seizing the opportunity, Al-Huraibi invested in a cosmetics factory early that year, successfully transitioning from trader to manufacturer.

“Yiwu made my entrepreneurial dream come true. Now I want to bring cosmetics made in Yiwu to even more countries and regions around the world,” Al-Huraibi said.

Yiwu’s success is not simply about gathering products. More importantly, it comes from the city’s ability to create what the market needs — pioneering new approaches where none exist and forging new paths through continuous exploration.

Nepalese businessman Khadka Raj Kumar first came to Yiwu in 2002. In 2011, Yiwu pioneered a dual-track system for representative offices and foreign-invested business entities, addressing challenges related to residency, employment and business operations for foreign entrepreneurs. The following year, Kumar established his own trading company in Yiwu and later bought a home there.

In 2013, Yiwu established China’s first people’s mediation committee dedicated to foreign-related disputes, inviting foreign businesspeople to serve as mediation processes. Kumar has served in this role since 2017 and has participated in resolving more than 150 foreign-related disputes.

“In Yiwu, we’re not outsiders — we’re part of the local community,” he said.

As Yiwu’s sixth-generation marketplace, the Yiwu Global Digital Trade Center marks the city’s transition from traditional trade to a digital trade ecosystem.

Pakistani businessman Sheikh Jamil, who has operated in Yiwu for 21 years, has witnessed this transformation firsthand. According to him, more and more business is now conducted online. With the help of AI, he can quickly generate product solutions tailored to different market demands. “I can do business with the whole world without leaving my office,” he said.

Yemeni businessman Hasan Mohammed entered Yiwu’s cosmetics business as a distributor a decade ago. In 2018, he registered his own cosmetics brand in Saudi Arabia. With its products registered in Saudi Arabia, manufactured in China and sold worldwide, his business model delivers both high-quality products and a strong competitive edge.

“Yiwu is more like an ecosystem where ideas can quickly become reality. It offers not only opportunities, but also the potential for continuous growth,” said Mohammed.

For Brazilian businesswoman Ana Garcia, Yiwu’s transformation from “Made in Yiwu” to “Created in Yiwu” has been fueled by broad support in branding, digital innovation and global expansion. She founded a business consultancy that helps overseas clients identify market opportunities and sourcing needs, connect with qualified suppliers, and manage every step of the supply chain — from product selection and quality inspection to logistics and customs clearance.

Yiwu belongs not only to China, but also to the world. Together with entrepreneurs from around the globe, the city will continue turning the impossible into the possible, further burnishing its reputation as the “world’s supermarket” and ensuring that products created in Yiwu benefit people in more countries.

View original content:https://www.prnewswire.com/apac/news-releases/foreign-entrepreneurs-find-business-opportunities-and-a-home-in-yiwu-302829158.html

SOURCE People’s Daily

Continue Reading

Technology

New Datingsmatch Survey: 1 in 5 Users Say a Wink Led to a Conversation

Published

on

By

New findings from a Datingsmatch.com user survey show that the smallest gestures are doing more of the communication work than most people realize.

GIBRALTAR, July 19, 2026 /PRNewswire-PRWeb/ — People tend to think about opening messages as the moment a conversation actually starts online. The carefully worded introduction, the line someone spent time writing and then rewrote. What the data from a recent Datingsmatch survey points to is something different: for a meaningful share of users, none of that is where things began. It began with a wink.

According to the survey, 1 in 5 users of Datingsmatch reported that a wink was what got a conversation going. One-fifth of respondents, spread across different age groups and usage habits, identified that a single small gesture as the moment something actually started between two people.

What the Datingsmatch Survey Found

The survey was conducted among 5,000 users of the Datingsmatch online communication platform in June 2026, with participants asked to voluntarily share their experiences. The aim was to get a clearer picture of how conversations tend to begin, what it is that people hesitate about, and what eventually prompts someone to go ahead and reach out.

The wink finding was among the more consistent findings from the responses. Among users who described a conversation they felt good about, a notable portion were able to trace it back to a wink being sent first, whether they had sent it or received it. The reverse situation, where someone sent a cold message with no prior signal of any kind, was something respondents described as harder on both sides of the exchange.

That tracks with what broader research also points to. A 2023 Pew Research Center survey found that 55% of online daters felt insecure about the number of messages they received, and 36% felt overwhelmed by incoming contact. What that suggests is not that people don’t want to connect — it’s that the way contact gets initiated matters a great deal for how it lands.

Why Small Signals Carry More Weight Than They Seem

The Datingsmatch survey also looked at what stops people from reaching out when they want to. Uncertainty came up repeatedly. Not knowing whether someone is open to hearing from you. Not wanting to guess wrong and feel like you’ve overstepped.

What respondents described is not a lack of interest in connecting. It’s the absence of a clear enough signal that the other person is open to it. A Datingsmatch wink feature provides exactly that. It’s visible, unambiguous, and low-commitment enough that neither person has to feel exposed by it. For those still finding their footing on the platform, the beginner’s guide to the Datingsmatch platform walks through how these features work and how to use them effectively.

This connects to a 2024 study published in the journal Cyberpsychology, Behavior, and Social Networking that examined online rejection: ghosting was the most common form of rejection in digital communication, even after substantial prior exchanges. The fear that a message will simply be ignored — without any acknowledgment — is a real barrier. A lower-stakes signal reduces that barrier because the cost of no response feels smaller.

Datingsmatch notes, based on what survey participants shared, that this kind of low-friction signal seems to work differently than most people expect. It doesn’t just start conversations. It seems to reduce the gap that many users described feeling between “I want to reach out” and “I actually did.”

How People Actually Use the Wink Feature on Datingsmatch

Survey responses offered a more specific picture of the behavior. Winks were not being used randomly or as a form of mass outreach. Respondents described using them deliberately, on users they had spent time looking at, toward people they were genuinely interested in but not yet sure about approaching with a message.

Some users described sending a wink as a way of checking whether there was any openness to further contact, without having to commit to a full message exchange in order to find out. Others who had been on the receiving end of a wink said it was something they found easier to respond to, in part because it did not feel like it was asking too much of them too soon. There were also respondents who noted that when a wink had gone back and forth between two people, the first actual message felt less like an approach out of nowhere and more like a natural continuation of something that had already started.

Datingsmatch customer service regularly hears from users that knowing how to start a conversation is one of the things people think about most when they first join the platform. The survey data puts some numbers to what those conversations have long suggested.

What This Means for How the Platform Thinks About Connection

Datingsmatch highlights that findings like these shape how the platform continues to think about the role of small, low-pressure interactions in the overall experience. A conversation that begins with a wink is not a lesser conversation. Survey respondents who traced their most valued exchanges back to a wink described those conversations in consistently positive terms.

The platform sees value in giving users multiple ways to signal interest at different levels of commitment. A message is a commitment. A wink is an invitation. Both have a place, and the data suggests that for a meaningful portion of users, the invitation comes first and matters more than it might look like from the outside.

About Datingsmatch

Datingsmatch is an online communication platform that gives people a range of ways to connect online. The platform is built around the idea that how a conversation starts shapes everything that follows, and that not every interaction needs to begin with a message. Datingsmatch operates globally and continues to develop its communication tools based on how users actually engage with each other.

Media Contact

Elizabeth Fielden, Datingsmatch, 1 5869132511, review@datingsmatch.com, https://datingsmatch.com/

View original content:https://www.prweb.com/releases/new-datingsmatch-survey-1-in-5-users-say-a-wink-led-to-a-conversation-302828676.html

SOURCE Datingsmatch

Continue Reading

Trending