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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)

 

View original content:https://www.prnewswire.com/news-releases/husqvarna-group-interim-report-january–june-2024-302200278.html

SOURCE Husqvarna AB

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Reliance Digital Brings Samsung’s Latest Galaxy Z Fold8 Series and Galaxy Z Flip8 to Stores Across India

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Be among the first to own the new Samsung Galaxy Z Fold8 series and Galaxy Z Flip8. Customers can now pre-order the latest Galaxy foldables at Reliance Digital, with EMIs starting at ₹6000/month.

MUMBAI, India, July 25, 2026 /PRNewswire/ — Reliance Digital, India’s leading consumer electronics retailer, today announced the availability of Samsung’s latest generation of foldable smartphones – the Galaxy Z Fold8 Ultra, Galaxy Z Fold8 and Galaxy Z Flip8. Designed to deliver the next evolution of Galaxy AI, powerful performance and iconic foldable innovation, Samsung’s newest line-up is now available across Reliance Digital stores and online.

Built around Samsung’s vision of making AI more intuitive and personal, the new Galaxy foldables combine immersive displays, premium craftsmanship and intelligent experiences that seamlessly adapt to the way users work, create and stay connected.

Leading the line-up is the Galaxy Z Fold8 Ultra, Samsung’s most premium foldable yet. Featuring an expansive 8-inch Dynamic AMOLED 2X main display, a flagship 200MP camera, the latest Snapdragon® 8 Elite Gen 5 for Galaxy processor and a 5,000mAh battery, the device is engineered for users who demand the ultimate in productivity, creativity and entertainment. It is available in Graphite, Cream and Violet Shadow,.

The Galaxy Z Fold8 brings Samsung’s signature foldable experience in a more compact form factor, featuring a 7.6-inch Dynamic AMOLED 2X main display, a redesigned wider cover screen, Galaxy AI-powered multitasking and flagship-grade performance. Customers can choose from Lavender, Graphite and Cream colour options.

Completing the line-up is the Galaxy Z Flip8, Samsung’s most stylish foldable smartphone, designed for users who want flagship performance in a compact, pocket-friendly form. Equipped with a vibrant 6.9-inch Dynamic AMOLED 2X display, an enhanced FlexWindow, a 50MP camera system and Galaxy AI experiences, the Flip8 effortlessly blends fashion with functionality.

Customers can visit their nearest Reliance Digital store to experience the new foldables first-hand with guidance from Reliance Digital’s Tech Dosts, compare models, explore exclusive launch offers and Pre-order the Galaxy device that best fits their lifestyle. The complete Galaxy Z Fold8 series and Galaxy Z Flip8 are also available through Reliance Digital’s online platform, ensuring customers can be among the first to own Samsung’s latest foldable innovations.

View original content to download multimedia:https://www.prnewswire.com/in/news-releases/reliance-digital-brings-samsungs-latest-galaxy-z-fold8-series-and-galaxy-z-flip8-to-stores-across-india-302834321.html

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Weichai’s Five Tech Routes Global Debut: Diverse Paths to a Green, Smart Future

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HANOI, Vietnam, July 25, 2026 /PRNewswire/ — At VEC in Vietnam on July 21, the Shandong Heavy Industry global partners conference & green intelligent products expo opened. Responding to the green transition of global commercial vehicles and heavy equipment, Weichai – with decades of expertise – unveiled five core tech routes: BEV, HEV, PEMFC, alternative-fuel ICE, and ADAS. Through full-chain proprietary control and breakthroughs, it provides efficient, low-carbon, intelligent power solutions to the global market.

Battery electric vehicle powertrain: full-chain deployment and high-efficiency recharging: Weichai masters core battery, motor, and e‑control technologies. Its CT100 battery – for heavy tractors and dump trucks – features integrated design and triple insulation, delivering better reliability, efficiency, safety, and speed. The WMS3200 drive system, tailored for heavy‑truck haulage, boosts efficiency and cuts vehicle power consumption. The WMC‑L/H/B integrated controllers offer stable, efficient control for light trucks, heavy trucks, and buses.

Hybrid electric vehicle powertrain: deep integration and ultra-long range: Weichai covers series, parallel, and series-parallel architectures, deeply integrating engine and e-drive. For urban logistics, the WP2.5T range extender offers quick response and low noise; for long-haul transport, the WP3NNG natural-gas range extender uses a “pure electric for short hauls, range-extended for long hauls” mode, with over 1,000 km combined range, easing range anxiety.

Proton exchange membrane fuel cell: zero-carbon leadership: Weichai has built a full-chain hydrogen energy system covering components, stacks, and systems. The WEF300 fuel cell engine has been deployed in volume in 49-ton heavy-duty trucks, suitable for long-haul and port logistics. The WEFG500 power generation system provides megawatt-class scalable power to support data centers and industrial plants.

Alternative fuel internal combustion engine: diverse clean-energy options and exceptional cost-effectiveness: Modular design enables flexible switching between H₂ and methanol. WP15DI hydrogen ICE peaks at 46.8% thermal efficiency; WP17T methanol ICE targets heavy‑equipment energy use, cuts operating costs, and is mass‑deployed in 130‑ton mining trucks.

Intelligent driving assistance system: vehicle-road-cloud collaboration: Weichai built a vehicle‑road‑cloud full‑stack architecture, with mining autonomous solution for cm‑level docking & obstacle avoidance, and trunk‑line ADAS with intelligent cruise & auto lane‑change, boosting high‑speed safety and economy.

Going forward, Weichai will keep iterating these five tech routes with global partners to advance sustainable manufacturing.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/weichais-five-tech-routes-global-debut-diverse-paths-to-a-green-smart-future-302834548.html

SOURCE Weichai Group

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Portland General Electric declares dividend

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PORTLAND, Ore., July 24, 2026 /PRNewswire/ — The board of directors of Portland General Electric Company (NYSE: POR) declared a quarterly common stock dividend of $0.55125 per share.

The company’s dividend is evaluated based on capital requirements and financial performance. PGE targets a dividend payout ratio of 60 to 70% over the long term.

The quarterly dividend is payable on or before October 15, 2026, to shareholders of record at the close of business on September 25, 2026.

About Portland General Electric Company
Portland General Electric (NYSE: POR) is an integrated energy company that generates, transmits and distributes electricity to nearly 960,000 customers serving an area of approximately 2 million Oregonians. Since 1889, Portland General Electric (PGE) has been powering economies, delivering safe, affordable and reliable electricity while working to transform energy systems to meet evolving customer needs. PGE continues to make progress towards emissions reduction targets, and customers have set the standard for prioritizing clean energy with the No. 1 voluntary renewable energy program in the country. PGE is ranked a top ten utility in the 2025 Forrester U.S. Customer Experience Index. In 2025, PGE employees and retirees volunteered over 18,300 hours to more than 400 nonprofits organizations. Through the PGE Foundation, along with corporate contributions and the employee matching gift program, more than $5 million was directed to charitable organizations supporting economic growth and community resilience across our service area. For information: portlandgeneral.com/news.

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on assumptions about the future, involve risks and uncertainties, and are not guarantees. Future results may differ materially from those expressed or implied in any forward-looking statement. These forward-looking statements represent our estimates and assumptions only as of the date of this press release. We assume no obligation to update or revise any forward-looking statement as a result of new information, future events or otherwise.

Forward-looking statements include statements, other than statements of historical or current fact, regarding the Company’s amount and timing of dividends payable as well as other statements containing words such as “committed to,” “targets,” or similar expressions.

There can be no assurance that future dividends will be declared. The declaration of future dividends is subject to approval of our board of directors and various risks and uncertainties, including, but not limited to: our cash flow and cash needs; the timing or amount of dividends paid; the timing or outcome of various legal and regulatory actions; changes in the Company’s business strategy; increases in capital expenditures; changes in capital and credit market conditions, including volatility of equity markets as well as changes in PGE’s credit ratings and outlook on such credit ratings restrictions on the payment of dividends under existing or future financing arrangements; changes in tax laws relating to corporate dividends; deterioration in our financial condition or results, and those risks, uncertainties, and other factors identified from time-to-time in our filings with the United States Securities and Exchange Commission (SEC), including our annual report on Form 10-K for the year ended December 31, 2025 and subsequent quarterly reports on Form 10-Q. These reports are available through the EDGAR system free-of-charge on the SEC’s website, www.sec.gov and on the Company’s website, investors.portlandgeneral.com. Investors should not rely unduly on any forward-looking statements. The Company assumes no obligation to update or revise any forward-looking statement as a result of new information, future events or other factors.

Media Contact:
Drew Hanson
Corporate Communications
Phone: 503-464-2067

Investor Contact:
Erin Schwartz
Investor Relations
Phone: 503-464-7751

View original content:https://www.prnewswire.com/news-releases/portland-general-electric-declares-dividend-302834503.html

SOURCE Portland General Company

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