Interim report January-September 2008
Magnus Yngen, President and CEO:
“Sales in the third quarter were largely unchanged. The decline in operating income resulted mainly from higher material costs and a less favorable product mix within Consumer Products in the US, as well as lower sales of Professional Products for the construction industry. Other operations have generally performed in line with the previous year. Income was also negatively affected by lower production levels in most of our operations in order to reduce inventories, which means lower absorption of costs.”
• Net sales for the first nine months amounted to SEK 27,216m (28,088) and operating income to SEK 2,833m (3,295). Income for the period was SEK 1,706m (1,956), corresponding to SEK 4.43 (5.06) per share.
• Net sales for the third quarter amounted to SEK 6,830m (6,826). Operating income decreased to SEK 310m (553).
• The decline in operating income refers mainly to Consumer Products in North America, and to the Construction product area within Professional Products.
• Continued good growth in sales and higher operating income for Forestry.
• Strong improvement in cash flow in the quarter.
A telephone conference will be held at 13.00 CET on 23 October 2008. In order to participate in the telephone conference, please call +46 (0)8 5052 0110 or +44 (0)20 7162 0077. A replay of the telephone conference will be available at www.husqvarna.com/ir.