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Interim report January - September 2010

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​Magnus Yngen, President and CEO:
”End-user demand continued to recover in most of our markets during the quarter. Sales as well as operating income for the Group as a whole increased. Europe & Asia/Pacific and Construction showed strong performances. Operating income for Americas was negative due to lower sales and increased costs. Despite a recovery in the market, our sales for Americas decreased due to the reduced listings of low-end lawn mowers with a major retailer in North America for the 2010 season.
Strong growth in sales to the dealer channel continued to be an important driver for the Group’s positive earnings development during the year, as were innovative new product launches. Our estimate is that we have gained market shares for lawn and garden products during the season in Europe.
In the fourth quarter, which is the smallest quarter of the year for the Group, we expect Group shipments to be slightly higher than in the fourth quarter of 2009.”

  • Increased net sales and operating income for the Group.
  • Strong performances in Europe & Asia/Pacific and Construction while Americas was weaker.
  • Net sales for the third quarter increased to SEK 6,907m (6,709) and operating income increased to SEK 411m (173).
  • Operating margin for the third quarter increased to 5.9% (2.6).
  • Net sales for the first nine months amounted to SEK 27,446m (29,342) and operating income was SEK 2,508m (2,075). Excluding items affecting comparability, operating income amounted to SEK 2,715m (2,187). Income for the first nine months were SEK 1,873 (1,355), or SEK 3.25 (2.50) per share.

Press and Telephone conference

A combined press and telephone conference will be held at 13.00 CET on 22 October 2010 at the Scandic Anglais Hotel, Humlegårdsgatan 23, Stockholm. To participate in the telephone conference, please call
+46 (0)8 5052 0110 or +44 (0) 20 7162 0077 ten minutes prior to the start of the conference. The conference call will also be audio cast live. To participate in the audio cast, log on to www.husqvarna.com/ir. A replay of the telephone conference will be available at www.husqvarna.com/ir.

Contacts

– Bernt Ingman, Chief Financial Officer, +46 8 738 75 05

–  Boel Sundvall, SVP Corporate Communications & IR, +46 8 738 70 18

– Tobias Norrby, Investor Relations Manager, +46 8 738 83 35

– Husqvarna Press Hotline, +46 8 738 70 80.

This interim report comprises information which Husqvarna is required to disclose under the Securities Markets Act and/or the Financial Instruments Trading Act. It was released for publication at 08.00 CET on October 22, 2010.

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