Husqvarna Group provides a trading update – unfavorable product mix in the second quarter

The demand of Husqvarna Group’s products is strong, but production has been limited due to component supply shortages. As previously communicated, this has mainly been affecting robotic and ride-on mowers. During the second quarter we have caught up on production of ride-on mowers as expected, but the anticipated improved component supply for robotic mowers has not materialized, mainly due to the unexpected Covid-19 related lock-down in China.

Net sales for the second quarter 2022 are estimated to approximately SEK 15.5 bn (14.6 in Q2 2021), including the acquisition of Orbit Irrigation. The operating margin in the second quarter will be impacted by the unfavorable product mix effect with low robotic mower sales and high sales of ride-on mowers.

Henric Andersson, President and CEO comments:

“The strong demand for our robotic mowers continues but low production in the second quarter has resulted in a continued record high order backlog. We are doing our outmost to increase our production to serve our customers and channel partners in this challenging situation. We have prioritized our production for the professional segment, including our recently launched CEORA solution which has generated strong customer demand.”

All figures in this press release are preliminary and unaudited. The full interim report for the second quarter will be released on July 15, 2022, as previously announced.

This press release 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 07.30 CET on June 20, 2022.

For additional information, please contact:
Investors
Terry Burke, CFO
+46 8 738 90 00 

Johan Andersson, Vice President Investor Relations
+46 702 100 451
ir@husqvarnagroup.com 

Media
Fredrik Henriksson, Vice President Corporate Communications
+46 76 719 59 25
press@husqvarnagroup.com

About Husqvarna Group
Husqvarna Group was founded in 1689 and is today a global leading producer of outdoor power products and innovative solutions for forest, park, garden care and the construction industry, transforming the way the world cares for outdoor and urban environments. The Group is made up of three divisions: Husqvarna Forest & Garden, Husqvarna Construction and Gardena. Products and solutions includes robotic lawnmowers, chainsaws, trimmers, watering solutions, cutting equipment and diamond tools for the construction and stone industries. Net sales in 2021 amounted to SEK 47bn and our global team consists of around 13 900 employees in 40 countries.