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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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Altimetrik Accelerates Enterprise AI Transformation with Google Cloud’s Gemini for Healthcare

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BENGALURU, India, Nov. 11, 2026 /PRNewswire/ — Altimetrik, an AI engineering company, has launched new industry-specific AI capabilities built on Google Cloud’s Gemini for healthcare to automate complex enterprise workflows. As an integration partner, Altimetrik will help healthcare organizations put agentic AI to work on their most complex operational challenges.

Together, Google Cloud and Altimetrik will put these capabilities to work by integrating AI with existing enterprise data, systems, and workflows for healthcare organizations. Combining Google Cloud’s advanced AI capabilities with Altimetrik’s healthcare domain expertise and enterprise engineering, the collaboration aims to streamline administrative processes, improve access to clinical and operational information, and support more effective care coordination.

Altimetrik will build and deploy these solutions using its ALTi AIOS™ framework, complementing Google Cloud’s technology with workflow orchestration, and governance. The framework incorporates agent permissions, auditability, and human oversight into solution design, enabling healthcare organizations to adopt agentic AI responsibly.

“Pilots are easy. Scaling is the hard part, especially when AI must operate within decades of established systems, data, and processes,” said Raj Sundaresan, CEO of Altimetrik. “In healthcare, AI must earn the trust of the people delivering care. Since joining Google Cloud’s AI-native partner cohort earlier this year, our forward-deployed engineers have been helping organizations move agentic AI from pilot to production through ALTi AIOS™, ensuring every agent is permissioned, auditable, and accountable. Gemini for healthcare provides a powerful foundation for the industry, and we are proud to build on that foundation as a launch partner, while keeping care teams firmly in control.”

“Healthcare organizations need solutions that bridge cutting-edge AI with day-to-day operational realities,” said Satish Thomas, Vice President, Google Cloud. “Our collaboration with Altimetrik brings Gemini directly into mission-critical workflows, helping healthcare leaders to streamline administrative processes, improve coordination, and make data more actionable.”

Altimetrik first partnered with Google Cloud earlier this year when it became a part of the company’s cohort of AI-native partners to scale agentic AI across the global enterprise.

Learn more about how Altimetrik is building governed, agentic solutions that help healthcare teams make more confident decisions.

About Altimetrik

Altimetrik is an AI engineering company helping some of the most revered and iconic enterprises modernize systems, data, and processes at the heart of their business, so they can move faster, operate more efficiently, and innovate continuously. Through ALTi AIOS™, its AI-native operating system, Altimetrik combines the latest AI capabilities with deep engineering expertise to help clients solve complex challenges, accelerate modernization, and deliver measurable outcomes at scale.

Altimetrik’s clients get access to the latest AI innovations while maintaining flexibility to choose the right technologies for their business, through trusted relationships with OpenAI, Google Gemini, Anthropic, Databricks, and major hyperscalers.

A member of the World Economic Forum’s Centre for AI Excellence, the Forum’s global hub for shaping responsible AI, Altimetrik is also recognized in the 2025 Constellation Research ShortList™ for Global AI Services and named a Major Contender in multiple Everest Group PEAK Matrix® assessments, including Software Product Engineering Services (2026), Enterprise Quality Engineering Services (2025), and Digital Engineering Services for BFSI and Life Sciences. Learn more at altimetrik.com.

View original content to download multimedia:https://www.prnewswire.com/in/news-releases/altimetrik-accelerates-enterprise-ai-transformation-with-google-clouds-gemini-for-healthcare-302935320.html

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20th Global Entrepreneurship Week China 2026 Kicks off in Shanghai

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SHANGHAI, Nov. 11, 2026 /PRNewswire/ — On November 10, 20th Global Entrepreneurship Week China 2026 (hereinafter referred to as “Entrepreneurship Week”) kicked off in Shanghai.

Running from November 10 to 14, 2026 for five days, this edition features more than 50 entrepreneurship events, bringing together over 100 distinguished global guests, representatives from nearly 500 cutting-edge tech enterprises and professional investment institutions, and more than 1,500 entrepreneurs.

By focusing on “Learning”, “Showcase”, “Matchmaking” and “Empowerment”, Global Entrepreneurship Week China builds an all-round entrepreneurship support ecosystem and creates an international platform for in-depth exchanges among entrepreneurs.

This year’s event further elevates its international profile. Jonathan Ortmans, Founder and President, Global Entrepreneurship Network, led a delegation of more than 20 international guests, including outstanding entrepreneur representatives and seasoned entrepreneurship mentors from the Republic of Korea, the United States, Chile, Germany, Egypt, New Zealand and other countries, to Global Entrepreneurship Week China, enabling Chinese and foreign entrepreneurs to share valuable experience from diverse entrepreneurial ecosystems with zero distance.

Taking the 20th anniversary as an opportunity, this year’s Entrepreneurship Week further highlights its role in disseminating innovative ideas. It features five themed days tailored to Shanghai’s industrial tracks, catering to the growth needs of entrepreneurs across the full lifecycle. Future Intelligence Day focuses on cutting-edge areas including intelligent computing, general AI, quantum technology and humanoid robots; Future Manufacturing & Materials Day focuses on sectors such as humanoid robots, precision intelligent equipment and flexible manufacturing; Future Energy Day focuses on controllable nuclear fusion, advanced nuclear energy, long-duration energy storage, hydrogen energy, solid-state batteries and other fields; Future Health Day covers tracks of brain-computer interface, cell and gene therapy, biomanufacturing and regenerative medicine; Angel Fund & Future Space Day centers on campus entrepreneurship, early-stage startup pitching, entrepreneurship research, commercial aerospace, low-altitude economy, future mobility and other themes.

More than 50 entrepreneurship activities including startup project pitching, achievement exhibitions, sci-tech innovation community exchanges, and cultural and sports interactions will be held successively on Fuxing Island. These activities build a platform for global entrepreneurs to connect technologies, capital and industrial resources, and the event will run through November 14.

View original content:https://www.prnewswire.com/news-releases/20th-global-entrepreneurship-week-china-2026-kicks-off-in-shanghai-302936055.html

SOURCE Global Entrepreneurship Week China

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Dragonpass Acquires iCoupon the Leading Global Voucher Redemption Network to Build International Loyalty-as-a-Service Platform

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Strategic Acquisition Combines Dragonpass’ Loyalty Infrastructure, Powering 35 of the World’s 50 Largest Banks, With iCoupon’s Vouchering Technology Supporting Over One Billion Passengers

SINGAPORE, Nov. 11, 2026 /PRNewswire/ — Dragonpass, the global travel and lifestyle benefits platform serving more than 45 million members worldwide, has announced the acquisition of iCoupon, the intelligent digital vouchering technology business whose network spans over 400 airports worldwide. The transaction represents a strategic expansion of Dragonpass’ technology and distribution capabilities, combining established financial services relationships with extensive airline and retail integrations to accelerate its development of a global loyalty-as-a-service platform.

The acquisition follows almost a decade of commercial collaboration between the two businesses, initially focused on delivering digital dining benefits across airports. While Dragonpass has developed its global presence through partnerships with financial institutions, including some of the world’s largest banks and payment networks, iCoupon has built complementary infrastructure connecting 200 airlines, over 400 airports and 4,000 retail units across 56 countries. The combination creates immediate opportunities to expand dining and retail offerings, alongside access to previously untapped solutions and customer segments across both networks.

In the near term, Dragonpass will focus on extending its dining and retail propositions through iCoupon’s established network, while introducing additional Dragonpass services to iCoupon’s airline and airport partners. Longer term, the business will explore how transferable integrations can support a wider lifestyle offering beyond aviation, creating opportunities to deliver relevant benefits across more frequent customer interactions. iCoupon’s existing team will remain in place, with its open-network model continuing to operate, ensuring continuity for existing partners while supporting new opportunities across the combined business.

Dragonpass acquires iCoupon following nearly a decade of collaboration, expanding its financial services, aviation and retail capabilities.iCoupon’s network spans over 200 airlines, 400+ airports and over 4,000 retail units across 56 countries, with support already available to over one billion passengers.iCoupon issued over £100 million in digital vouchers in 2025, demonstrating the scale of its existing distribution and redemption infrastructure.Dragonpass research finds 50% of Britons consider loyalty schemes outdated, while 76% value affordable everyday treats.The deal strengthens dining and retail offerings in the near term, supporting Dragonpass’ wider ambition to build a global loyalty-as-a-service platform

Jane Zhu, CEO & Co-founder at Dragonpass, shares:

“The acquisition of iCoupon represents a significant step in our strategy to build a global loyalty-as-a-service platform. Having worked together for almost a decade, we recognise the strength of its technology and network, and the immediate opportunity to expand our dining and retail offering while exploring applications across new lifestyle markets.

“The future of loyalty lies in connecting customer intelligence with relevant benefits at scale. By bringing together complementary distribution networks and investing in more intelligent engagement technology, we’re building the infrastructure to help our partners deliver greater value to customers, precisely when they need it.”

iCoupon’s technology enables airlines and other partners to distribute vouchers, discounts and customer entitlements through existing identifiers, including boarding passes, barcodes and QR codes. Integrated directly into participating retailers’ point-of-sale systems, its platform supports real-time redemption, transaction tracking and automated reconciliation. Having issued over £100 million in digital vouchers during 2025, including 12 million food and beverage entitlements, iCoupon has expanded into 13 technology modules spanning passenger care, retail and other travel services, providing Dragonpass with additional capabilities and new commercial opportunities.

Richard Bye, CEO and Co-founder at iCoupon, shares:

“For too long, loyalty has been constrained by fragmented ecosystems, disconnected rewards and experiences that often fail to reflect what customers genuinely value. This acquisition is about helping accelerate a shift away from traditional points-based programmes towards real-time, contextual engagement that delivers meaningful benefits exactly when and where they matter most. By combining Dragonpass’ global distribution and customer intelligence capabilities with iCoupon’s powerful airline connected redemption infrastructure, we are creating the foundations for a new generation of loyalty; one that is intelligent, frictionless and seamlessly embedded into the everyday lives of consumers around the world.”

Dragonpass’ nationally representative Comfort Index finds 50% of Brits consider loyalty schemes outdated, revealing the mounting pressure on traditional loyal models to demonstrate value while 48% of Brits are more likely to switch long-term providers due to rising costs, poor support or irrelevant rewards. Meanwhile, 69% say brands that reduce everyday friction are more likely to earn their loyalty. Demand for practical benefits is also growing, with 76% valuing affordable everyday treats, despite 56% worrying about the cost of dining, drinks and experiences.

This expansion forms part of Dragonpass’ broader investment in data orchestration and customer engagement technology. By connecting a wider global benefits supply chain with more intelligent distribution and personalisation capabilities, the company aims to address a longstanding challenge for enterprise loyalty programmes: sourcing relevant benefits across markets and delivering them through a seamless customer experience. Its longer-term strategy is to enable financial institutions, airlines and other partners to move beyond static rewards catalogues, offering benefits aligned with individual customer needs, while strengthening engagement and commercial value across its network.

About Dragonpass

Established in 2005, Dragonpass is a leading global travel and lifestyle platform, providing premium benefits and experiences to more than 45 million members worldwide. Its growing ecosystem spans travel, health and wellness, lifestyle and entertainment, with a global network covering more than 140 countries and regions and partnerships with more than 800 enterprises.

About iCoupon

iCoupon is a market-leading intelligent vouchering company with a global presence, specialising in the provision of digital vouchering services within the aviation industry and beyond. Collaborating with an extensive network of more than 200 airlines, spanning over 400 airports and in excess of 4,000 retail establishments, the company’s aim is to share value and place it where it counts. iCoupon leverages its unique technology to facilitate the seamless distribution of intelligent vouchers by airlines, airports, ground handlers and retailers directly to passenger boarding passes, enhancing the value-sharing experience.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/dragonpass-acquires-icoupon-the-leading-global-voucher-redemption-network-to-build-international-loyalty-as-a-service-platform-302936106.html

SOURCE Dragonpass

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