A successful year
Fourth quarter 2020
- Net sales increased by 4% to
SEK 6,683m (6,408), or by 13% when adjusted for changes in exchange rates. (Exits of Consumer Brands business were completed in Q3). -
Operating income was
SEK -944m (-493). Excluding items affecting comparability, operating income amounted toSEK -129m (-310). -
Items affecting comparability amounted to
SEK -815m (-183) and relate to the supply chain efficiency measures announced in Q3 2020, see page 4 and 16. -
Earnings per share after dilution amounted to
SEK -1.26 (-0.67). - The Construction Division acquired Blastrac, a leading provider of complementing surface preparation technologies.
- The Husqvarna Division announced CEORA, an autonomous professional turf care solution for grass areas up to 50 000m2, operating within virtual boundaries.
January -
- Net sales decreased 1% to
SEK 41,943m (42,277) or increased by 6% when adjusted for exits of Consumer Brands business and changes in exchange rates. -
Operating income was
SEK 3,669m (3,690). Excluding items affecting comparability, operating income amounted toSEK 4,484 (3,915) representing a margin of 10.7% (9.3). -
Items affecting comparability amounted to
SEK -815m (-225) and relate to the supply chain efficiency measures, see page 4 and 16. -
Earnings per share after dilution amounted to
SEK 4.35 (4.42). -
Direct operating cash flow* was
SEK 6,071m (3,849). -
The Board of Directors will propose a dividend for 2020 of
SEK 2.40 per share (2.25) to the AGM.
Strong results despite a challenging year
"We achieved a continued strong sales growth in our seasonally smallest fourth quarter. The growth was largely driven by our core categories robotics & battery-powered products, handheld products and watering solutions and supported by a prolonged season. This resulted in a net sales growth of 13%*. The development was particularly strong for the
2020 - a successful year
Our primary focus during 2020 has been the health and safety of the employees while decisively safeguarding the business continuity. The good performance in the fourth quarter concludes a record year where we, as a result of hard diligent work over several years, have now reached our financial targets, growth, profitability and capital efficiency, despite a volatile and challenging macro environment marked by the Covid-19 pandemic. Group net sales increased by 6%* during 2020 which demonstrates our strong position and agility to adapt to rapid shifts in demand. The growth was also supported by the stay-at-home trend and an extended gardening season.
Overall, we achieved an operating margin of 10.7% for the year, excluding items affecting comparability of
Our strategic focus on sustainability has resulted in a reduction of absolute CO2 emissions across the value chain by 32% compared with the base year 2015. As we enter the new phase of Sustainovate 2025, we continue our commitment to contribute to limiting the global warming to 1.5 degrees.
Raised strategic ambitions & investing in the future
As previously announced, we are accelerating our strategic growth investments by 50% annually or
In conclusion, we delivered a strong fourth quarter resulting in a record year, achieving our financial targets and strengthened our market positions. I would like to sincerely thank our team around the world for tremendous efforts and commitment during the year. With the global uncertainty of the Covid-19 situation, we are well prepared to adapt to fluctuations in demand and focus to protect the health and safety of our employees and business partners. We will continue to accelerate our strategy to further strengthen our market positions and technology leadership."
*Net sales is adjusted for changes in exchange rates, and for the
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The conference call is also available through https://husqvarna-group.creo.se/210203. A replay will be available later the same day.
Contacts
This report contains insider information that
https://news.cision.com/husqvarna-ab/r/year-end-report-january---december-2020,c3278348
https://mb.cision.com/Main/996/3278348/1367054.pdf
https://news.cision.com/husqvarna-ab/i/henric-andersson--president---ceo,c2873809
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