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

Technology

Canton Fair Buyers Alliance Launched as the 140th Edition Opens

Published

on

By

GUANGZHOU, China, Oct. 17, 2026 /PRNewswire/ — On October 15, the Canton Fair Buyers Alliance was officially launched at the Canton Fair Complex, marking a significant milestone as the fair celebrates the 70th anniversary of its founding.

More than 140 overseas buyers attended the launch ceremony, highlighting the fair’s enduring role as a bridge connecting global commerce with China’s export sector.

Speaking at the ceremony, Luís Vilariça, CEO of Joinco, Import & Export, Ltd., discussed his company’s long-standing relationship with the Canton Fair. Drawing on years of participation, he reflected on the growth opportunities created through cooperation with Chinese suppliers and highlighted the fair’s role in supporting international business development and global trade exchanges.

The ceremony also featured a joint declaration by alliance members. Representatives from five member companies read the statement in their respective native languages, underscoring the international character of the new organization. Additional members sent video congratulatory messages, joining the celebration and witnessing the official launch of the alliance.

The Canton Fair Buyers Alliance represents one of the fair’s key service innovations. Designed primarily for Fortune Global 500 companies, buyers from the world’s top 250 retailers and leading sourcing enterprises across a diverse range of markets, the alliance aims to offer members a platform for information sharing and resource coordination. The first cohort of alliance members includes 58 companies from 32 countries and regions across 5 continents. Through the alliance, members will gain access to a range of priority benefits spanning four major areas: services, events, resources and information.

 For more convenient attendance, please click here for pre-registration:

https://buyer.cantonfair.org.cn/register/buyer/email?source_type=16

View original content to download multimedia:https://www.prnewswire.com/news-releases/canton-fair-buyers-alliance-launched-as-the-140th-edition-opens-302911896.html

SOURCE Canton Fair

Continue Reading

Technology

Bioethanol from human hair – Indian start-up’s solution to rising prices of grains and sugar

Published

on

By

GUJARAT, India, Oct. 17, 2026 /PRNewswire/ — In what could be called the beginning of the 5G (fifth-generation) of bioethanol or non-cellulosic bioethanol or non-sugar-based biofuels, an Indian start-up, Techofest Global, based out of Gujarat, has developed its own, indigenous, and patented technology for the production of bioethanol from waste human hair. Such processes would significantly reduce the employment of sugars, grains, and agricultural residues, which form the classical first- and second-generation bioethanol feedstocks. As a result, the rising fuel-vs.-food/fodder debate is anticipated to reduce, and instead, ethanol produced from municipal/industrial waste, after trials, can supplement the current supply being used as blends with presently retailed fossil fuels (E20, E27, etc.). 

As stated by Dr. Ravi, the founder-CEO of Techofest Global, the strategic priority and the USP of the start-up is industrial symbiosis, which, typically, involves an ecosystem of up-cycling/valorising the effluents of an industry, thereby creating a value-chain for residues often lacking an end-of-life. With more than three decades of experience in designing customized nuclear fusion reactors for international programmes, such as ITER, JET/UKAEA and SST-1, Dr. Ravi, a seasoned mechanical engineer, spearheads the start-up’s patented technologies’ scale-up and commercialization.

Two biochemical engineers, Dr. Navnit – the former CTO, and Dr. Kabilan – the former CEO of Biomakerz, Chennai, are the brains behind the current technology/process portfolio of the joint-venture between Techofest Global and Biomakerz. They have been working on biorefineries’ process intensification for more than a decade. “Having foreseen the fuel-vs-fodder/food competition as early as the year 2015, we began developing techno-economically feasible and viable in-vitro metabolically-engineered bioprocesses for scaling-up ethanol production from municipal waste streams between 2019–2021”, says Navnit. After developing operational technologies for international biofuel organizations, serving process engineer roles with certain biorefineries-related OMC R&D’s of India, Dr. Navnit, presently works for a premier academic institution.

An on-going fermentation trial at the Techofest Global-Biomakerz JV’s R&D facility

Techofest Global has developed and tested, in its R&D JV’s pilot-facility of ~100-L, 3 innovative and cost-effective technologies, such as 5G ethanol production using human hair, used cooking oil (UCO), and enriched bio-methane production from disposed sanitary napkins.

“With massive CapEx and OpEx, 2G ethanol technology is facing a major commercialization bottleneck, owing to competition with food/livestock fodder, requirement of a cost-intensive pre-treatment procedure, and the requirement of cellulolytic cocktails, which have a poor recycle efficiency. The proprietary 5G SAFE process developed for the start-up circumvents the mentioned constraints, and instead, utilizes a single-stage saccharification followed by fermentation, and records over 85–90% biocatalyst recovery. Likewise, the proprietary SIM process for bio-methane production, exclusively developed for the start-up, is 2x faster with improved intermittent feeding cycles and continuous gas harvest”, says Navnit.

“With on-going pre-commercialization trials, the proprietary ethanol and bio-methane processes of ours are soon being commercialized”, says Ms. Bhumika, the co-founder and the corporate advisor of the start-up. Furthermore, Mr. Ronak pilots the organization’s global market entry and commercialization frontier.

Techofest Global’s veteran Principal Technology Advisors include: Dr VS Tripathi, former Joint Director, DRDE Gwalior, Dr B S Munjal, former Director, Structures and Thermal group, SAC/ISRO, Academician and Advisor CIKS-Dharohar, GTU, and Dr AV Santhanababu, former Scientist at Satish Dhawan Space Centre. With on-going R&D activities, Dr. Munjal says, “the start-up is striving to provide a unique solution along the lines of the Atmanirbhar and Viksit Bharat Vision 2047”.

Media Contact: www.techofestglobal.com; e-mail: info@techofestglobal.com; contact person: The PR team of Techofest Global.

Photo: https://mmx.prnewswire.com/media/MS2015507/Picture1.jpg?id=OA3024965&token=5vT9XuZXAG0yamsZlRrsBAiUapaplm73wYH8NIfU0xCtOlj76dueXcTw2Eb-3w

View original content to download multimedia:https://www.prnewswire.com/in/news-releases/bioethanol-from-human-hair–indian-start-ups-solution-to-rising-prices-of-grains-and-sugar-302911813.html

Continue Reading

Technology

As AI Speeds Up Marketing, Louisville’s RedTag Bets on Strategy

Published

on

By

Independent agency unveils new brand and website, and co-hosts Louisville’s PROOF AI Workshop

LOUISVILLE, Ky., Oct. 17, 2026 /PRNewswire/ — RedTag, an independent Louisville-based marketing agency, this month unveiled new positioning, marking its evolution from a digital performance agency into a strategy-first marketing partner. The move comes as AI makes execution faster than ever, and RedTag is betting that strategy, not speed, is what will set businesses apart. Clients can now choose from outcome-based programs that best fit their marketing needs. 

“Clients don’t come to us needing more tactics. They come to us needing a path,” said Russ Renbarger, founder and CEO of RedTag. “Our new brand says out loud what our work has shown for years: We start with strategy and build everything on that foundation.”

RedTag built its reputation on high-performing paid digital campaigns. Over the years, the agency expanded into strategy, creative, video production and website development, giving clients one partner for the full scope of their marketing. Most recently, a team of automation specialists has integrated AI across the agency to speed up production and analysis, guided by an internal AI policy that keeps people accountable for quality. The time AI saves goes back into strategy: knowing what to say, who to say it to and why.

“Our best client relationships have always been partnerships, where we’re in the room when the big decisions get made,” said Alison Conway, chief client officer at RedTag. “This evolution is about bringing that strategic partnership to every client.”

On Oct. 14, RedTag co-hosted the PROOF AI Workshop with Slingshot, Vsimple and Advanced Business Solutions. The hands-on event gave Louisville business leaders practical experience applying AI to their own work. RedTag led the event’s AI in Marketing and Branding track, with four sessions ranging from AI search optimization to a playbook for adopting AI across an organization.

“AI can produce hundreds of ads in an afternoon, but it can’t tell you which one your brand actually needs and why,” Renbarger said. “The faster the tools get, the more valuable human-led strategy becomes.”

RedTag was named the agency of record for the Commonwealth of Kentucky in 2025. Its client list includes PGA of America, Castle & Key Distillery, Bourbon Barrel Foods, ShopCaterpillar and American Beverage Marketers. Since 2023, RedTag’s work has received two Emmy Awards and more than 35 ADDY and AIGA awards. The agency is a four-time Louisville Business First Fast 50 honoree and was named one of the 2026 Best Places to Work in Kentucky.

To learn more about its outcome-based programs, visit RedTag Programs

About RedTag

RedTag is an independent, strategy-first marketing agency based in Louisville, Kentucky. Established in 2008, the agency starts every engagement by understanding the goal before recommending tactics. With a foundation rooted in discovery, RedTag delivers full-scale marketing campaigns built around each client’s business goals. RedTag serves organizations across hospitality, sports, agriculture, government, retail and consumer packaged goods. Learn more at redtag.agency.

View original content to download multimedia:https://www.prnewswire.com/news-releases/as-ai-speeds-up-marketing-louisvilles-redtag-bets-on-strategy-302911869.html

SOURCE RED TAG LLC

Continue Reading

Trending