* Stay-at-home trend has given boost to Husqvarna
* Wants to accelerate growth of battery-driven machines
STOCKHOLM, Dec 1 (Reuters) - Husqvarna, the
world's biggest maker of power gardening tools, has raised its
overall financial targets and growth ambitions for robotic lawn
mowers and other battery-powered products.
The Swedish group, whose products range from trimmers and
chainsaws to garden tractors and irrigation systems, and which
has benefited from the stay-at-home trend caused by the
pandemic, said late Tuesday it now targets annual organic sales
growth of 5% and an operating margin of 13%.
The market leader for robotic lawn mowers did not provide a
timeframe for the new targets. In the first nine months of 2021,
organic sales were up 15% and the operating margin was 15.1%.
The previous financial targets, announced in 2019, were for
sales growth exceeding the average growth in the industry by 2
percentage points with an operating margin above 10%.
"I am proud that we can increase our growth and margin
ambitions even after taking account of the recent temporary
positive effects from the stay-at home trend," CEO Henric
Andersson said ahead of presentations for investors and media on
"Global macro trends including sustainability,
electrification, automation and digitalization provide
tremendous opportunities for the Husqvarna Group," he said in a
Husqvarna, whose rivals include Black & Decker and
Honda Motor, gets the bulk of revenues from petrol
driven products, but has been pushing to grow its share of
battery driven products.
The company said it aims to double the sales of robotic lawn
mowers, double the number of connected devices, and increase the
share of electrified products sold to 67% from 38% within five
(Reporting by Anna Ringstrom, Editing by Helena Soderpalm
Sherry Jacob-Phillips, Keith Weir)