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HUSQVARNA GROUP: INTERIM REPORT JANUARY – SEPTEMBER 2024

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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

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Asian Hall of Fame Heritage Gala Highlights Impactful Legacy

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Benefit supported Women In Tech, Entertainment, Science & Sports Scholars

LOS ANGELES, May 13, 2026 /PRNewswire/ — Global ambassador Asian Hall of Fame highlighted positive messages of interracial synergy with its Heritage Gala on May 1, 2026 at the iconic Biltmore Los Angeles. CBS LA Anchor Suzie Suh served as Master of Ceremonies of the festive Asian Heritage Month celebration brought to life by vibrant heritage costumes representing Asia, Latin America, and the U.S. Virgin Islands. The intergenerational benefit funded Women In Tech, Entertainment, Science & Sports (WinTESS) scholarships for 103 applicants from all racial backgrounds.

Guests from California, Washington, Oregon, Hawaii, and New York applauded the Class of 2026 Official Announcement, including Asian Hall of Fame’s first-ever Major League Baseball Inductee Hideo Nomo, nominated by the Los Angeles Dodgers, and DTLA muralist Robert Vargas as Goodwill Ambassador.

Dedicated San Marino philanthropist and Board of Governors Chairwoman Melinda Rogers was honored as the 2026 Woman of the Year, with a moving speech presented by her younger brother William Rogers. Chairwoman Rogers highlighted the endearing impact of family, and delighted audiences with her custom Korean hanbok, designed alongside Anna Kim at her Koreatown boutique.

Distinguished philanthropist Loida Nicolas Lewis (Inductee 2007) shared an inspiring fireside chat with stories of family legacy and community empowerment. Guests received commemorative autographed memoirs, and complimentary gifts from Nan Yang Delight and SUP. Inductees in attendance were Marc Anthony Nicolas, Kristen Lui, incoming Inductees Kitty Lo and Maggie Tseng, Official Design Partner of the 2026 Season.

The dramatic Heritage Costume Show, sponsored by Meridien Vacation Homes, presented pageant holders including a Rose Pageant Princess, Miss Asia USA, Miss Teen Latina Global, Hi-Teen USA, Miss International U.S. Virgin Islands, Miss Taiwanese American, and Mrs. Asia Glamour.

Maki Mae performed from her upcoming album release with pianist Jason Lo and cellist Ryan Phipps. Walter Nishinaka and Los Angeles Taiko Collective kicked off raffle drawings, including an 18-carat gold ring donated by long-standing supporter Vartan Kazanjian, owner of Estate Jewelers of South Pasadena.

ABOUT ASIAN HALL OF FAME
Established in 2004, Asian Hall of Fame strengthens interracial synergy by advancing mainstream recognition of Asian and Native legacy. Inductees include Connie Chung, Kristi Yamaguchi, Margaret Cho, amongst others. Contact: press@asianhalloffame.org, (626) 600-9418, www.asianhalloffame.org.

View original content to download multimedia:https://www.prnewswire.com/news-releases/asian-hall-of-fame-heritage-gala-highlights-impactful-legacy-302771594.html

SOURCE Asian Hall of Fame

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Notice of Data Privacy Incident

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MOUNT STERLING, Ill., May 13, 2026 /PRNewswire/ — Brown County

Brown County, Illinois provides notice of a data privacy incident involving personal information of certain county constituents and staff.

What Happened? On April 3, 2025, we received alerts of unusual activity in one of our email accounts. We launched an immediate investigation, and retained independent cyber incident response specialists to assist. The investigation determined that two email accounts experienced unauthorized access. We have no evidence of fraud or identity theft from this incident.

What Information Was Involved. The information involved varied by individual, and may have included a first and last name along with a Social Security number, driver’s license number, government issued identification number, medical information, or health insurance information.

What We Are Doing. In addition to the above, we are offering complimentary credit monitoring and identity protection services to individuals whose Social Security numbers were believed to be involved.

What You Can Do. Generally, it is best practice to remain vigilant for incidents of identity theft and fraud from any source by reviewing your account statements and credit reports for suspicious activity and errors. If you discover any suspicious or unusual activity, promptly contact your financial institution or service provider.

Individuals are entitled to one free credit report annually from each of the three major credit reporting bureaus, TransUnion, Experian, and Equifax. To order a free credit report, visit www.annualcreditreport.com or call 1-877-322-8228.

Individuals may further learn about identity theft, fraud alerts, credit freezes, and the steps to take to protect personal information by contacting the credit reporting bureaus, the Federal Trade Commission (FTC), or state Attorneys General. The FTC encourages those who discover that their information has been misused to file a complaint with them. It may be reached at 600 Pennsylvania Ave. NW, Washington, D.C. 20580; www.identitytheft.gov; 1-877-ID-THEFT (1-877-438-4338); and TTY: 1-866-653-4261.

For More Information, you may contact us at 1-800-405-6108, Monday through Friday, 8:00 a.m. to 8:00 p.m. EST for further assistance.

View original content:https://www.prnewswire.com/news-releases/notice-of-data-privacy-incident-302771596.html

SOURCE Kennedys CMK LLP

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SharkNinja Set to Join S&P MidCap 400; Flowers Foods and F&G Annuities & Life to Join S&P SmallCap 600

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NEW YORK, May 13, 2026 /PRNewswire/ — S&P Dow Jones Indices will make the following changes to the S&P MidCap 400, S&P SmallCap 600: 

SharkNinja (NYSE: SN) will replace Flowers Foods Inc. (NYSE: FLO) in the S&P MidCap 400, and Flowers Foods will replace CSG Systems Intl Inc. (NASD: CSGS) in the S&P SmallCap 600 effective prior to the opening of trading on Monday, May 18. NEC Corporation (TSE: 6701) is acquiring CSG Systems Intl in a deal expected to close soon, pending final closing conditions.F&G Annuities & Life Inc. (NYSE: FG) will replace Mister Car Wash Inc. (NASD: MCW) in the S&P SmallCap 600 effective prior to the opening of trading on Tuesday, May 19. Leonard Green & Partners L.P. is acquiring Mister Car Wash in a deal expected to close soon, pending final closing conditions.

Following is a summary of the changes that will take place prior to the open of trading on the effective date:

Effective Date

Index Name

Action

Company Name

Ticker

GICS Sector

May 18, 2026

S&P MidCap 400

Addition

SharkNinja

SN

Consumer Discretionary

May 18, 2026

S&P MidCap 400

Deletion

Flowers Foods

FLO

Consumer Staples

May 18, 2026

S&P SmallCap 600

Addition

Flowers Foods

FLO

Consumer Staples

May 18, 2026

S&P SmallCap 600

Deletion

CSG Systems Intl

CSGS

Industrials

May 19, 2026

S&P SmallCap 600

Addition

F&G Annuities & Life

FG

Financials

May 19, 2026

S&P SmallCap 600

Deletion

Mister Car Wash

MCW

Consumer Discretionary

ABOUT S&P DOW JONES INDICES

S&P Dow Jones Indices is the largest global resource for essential index-based concepts, data and research, and home to iconic financial market indicators, such as the S&P 500® and the Dow Jones Industrial Average®. More assets are invested in products based on our indices than products based on indices from any other provider in the world. Since Charles Dow invented the first index in 1884, S&P DJI has been innovating and developing indices across the spectrum of asset classes helping to define the way investors measure and trade the markets.

S&P Dow Jones Indices is a division of S&P Global (NYSE: SPGI), which provides essential intelligence for individuals, companies, and governments to make decisions with confidence. For more information, visit www.spglobal.com/spdji/en/

FOR MORE INFORMATION:

S&P Dow Jones Indices
index_services@spglobal.com

Media Inquiries
spdji.comms@spglobal.com

View original content:https://www.prnewswire.com/news-releases/sharkninja-set-to-join-sp-midcap-400-flowers-foods-and-fg-annuities–life-to-join-sp-smallcap-600-302771602.html

SOURCE S&P Dow Jones Indices

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