A quarter marked by continued supply chain constraints
Second quarter 2022
Net sales increased by 8% to
SEK 15,792m (14,614). The organic growth was -7%, changes in exchange rates contributed with 8% and acquisitions with 8% (growth numbers are rounded).Operating income was
SEK 2,065m (2,659) and the operating margin was 13.1% (18.2). Excluding items affecting comparability, operating income wasSEK 2,075m (2,645) and the operating margin was 13.1% (18.1).Items affecting comparability amounted to
SEK -10m (14), and related to restructuring costs inRussia , see page 19.Earnings per share before dilution amounted to
SEK 2.48 (3.49) and earnings per share after dilution amounted toSEK 2.47 (3.48).Cash flow from operations and investments was
SEK 699m (3,174), the decrease was mainly related to lower operating profit and higher inventories. Direct operating cash flow wasSEK 1,803m (2,875).Operating working capital / net sales amounted to 25.7% (21.1).
Husqvarna Group acquired Heger, a leading company specialized in professional diamond tools for the European construction market.
January -
Net sales increased by 10% to
SEK 31,477m (28,644). The organic growth was -5%, changes in exchange rates contributed with 7% and acquisitions with 8%.Operating income was
SEK 4,224m (4,952) and the operating margin was 13.4% (17.3). Excluding items affecting comparability, operating income wasSEK 4,265m (4,938) and the operating margin was 13.5% (17.2).Items affecting comparability amounted to a net of
SEK -41m (14), see page 19.Earnings per share before dilution amounted to
SEK 5.35 (6.39) and earnings per share after dilution amounted toSEK 5.34 (6.37).Cash flow from operations and investments was
SEK -520m (4,723). Direct operating cash flow wasSEK 351m (3,018).
A quarter marked by continued supply chain constraints
"The overall demand for
Organic growth amounted to -8% for the
Operating profit for the second quarter amounted to
Direct operating cash flow amounted to
Focus on sustainable value creation
Our vibrant brands are well positioned in attractive segments and our unique innovation capability enables us to create value and deliver on our Sustainovate targets. Examples of progress on our sustainable value creation strategy are the strong growth of robotic mowers in the professional segment including the successful launch of CEORA(TM), the robotic mower that provides cost-efficient commercial turf care management.
In summary, the quarter was marked by continued disturbances in the supply chain. We are doing our utmost to support our customers for the remainder of the season, however the global supply chain situation is still fluid and unpredictable. We have a dedicated and flexible organization that, in parallel with the implementation of short-term measures, is executing on our strategy and our long-term value creation."
Webcast presentation and telephone conference
A webcast presentation of the Q2 report, hosted by
To view the presentation, please use the link: https://husqvarna-group.creo.se/220715
The dial-in to the telephone conference (in order to ask questions): +46 (0) 8 5051 0031 (
Dates for Financial Reports 2022
Contacts
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
Factors affecting forward-looking statements
This report contains forward-looking statements in the sense referred to in the American Private Securities Litigation Reform Act of 1995. Such statements comprise, among other things, financial goals, goals of future business and financial plans. These statements are based on present expectations and are subject to risks and uncertainties that may give rise to major deviations in the result due to several aspects. These aspects include, among other things: consumer demand and market conditions in the geographical areas and lines of business in which
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