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Jörgen Johansson new CEO of VSM Group

Svante Runnquist, CEO of VSM Group since 1 January, 1997 has decided it is time for new leadership to continue the successful development of the company and has therefore decided to leave his position. “During his eight years as CEO, Svante Runnquist has developed the company with energy and enthusiasm. Under his leadership the Group´s sales have increased from 954 MSEK in 1997 to 2165 MSEK in 2004 with commensurate profitability. The strategy developed by Svante Runnquist and his management team will remain in place. Investments in innovative product development and a professional dealer

Demand for inspiration and information started a sewing machine magazine

Thousands of sewing enthusiasts around the world, all with a passionate interest in sewing, but sometimes with a lack of ideas, forced the sewing machine brand Husqvarna Viking ten years ago to start producing a sewing machine magazine. The wish was to have a magazine full of hints and tips about sewing and lots of projects to make. The challenge was of course great at Husqvarna Viking, who knew how to manufacture top quality sewing machines, but had no idea how to produce a magazine. “There were at least two of us who strongly believed in this idea, my colleague Sue Hausmann, Customer

Swedish Sewing Machine producer turns well-known “Hummel drawings” into embroidery designs

German artist Berta Hummel, known as Sister Maria Innocentia Hummel, created the beloved “Hummel Children” drawings during her most productive time in the 1930s. The rights to those pictures are owned by the Franciscan Convent in Saulgau, Bavaria, where Sr. M. Innocentia entered the sisterhood upon completion of her studies at the Academy of Fine and Applied Arts in Munich. In 1934, the W. Goebel Porcelain Factory began working with Sr. .M. Innocentia to transform her pictures into the little porcelain figurines that are collectibles around the world today.After long and careful

Increased competition and falling dollar mean lower profit for VSM Group

• VSM Group’s turnover dropped by 9.5% during 2004 to SEK 2,165 million, a reduction in fixed exchange rate terms of 3.8%. • Increased price competition resulted in fewer sewing machine sales in the mid segment. • Operating result before amortization of intangible assets (EBITA) fell during same period to SEK 182 million (SEK 270 million). • SmartFuture rationalisation programme expected to reduce annual costs by around SEK 100 million as early as 2005. • Strong sales of the company’s new embroidery machines and software. After sales were boosted by 15%.VSM Group recorded a total turnover

Improved competitiveness for the VSM Group with SmartFuture

• The VSM Group has begun codetermination talks with the unions regarding changes to be made to the business structure as part of the company’s efficiency programme, SmartFuture. • The underlying cause has been the severely weakened US dollar, along with lower sales due to increased price competition on the world market from players with production based in low-cost countries. • 90–120 jobs at the company’s head office and factory in Huskvarna are affected by the notice announced today to the county labour board. • Personnel were notified of the planned changes during the course of the

The "Oscar" of the Quilt world given out in Houston

Fifty of the world’s most beautiful quilts were shown at the International Quilt Market and International Quilt Festival in Houston, Texas, USA, October 30 – November 7, 2004. The exhibition was the result of the annual international quilt contest, sponsored by the Swedish Sewing Machine manufacturer Husqvarna Viking, Huskvarna, Sweden. This year’s theme Color, Couleur,Colore, Kulör, contributed to the brilliant color and the outstanding artistry of the collection, which was truly the most beautiful since the inception of this juried exhibit five years ago. The contest had two categories,

VSM Group adapts to tougher market conditions

VSM Group adapts to tougher market conditions · Net sales for the January-September 2004 period were down 10 percent to SEK 1,480 million (SEK 1,647 million), corresponding to a 5 percent drop in local currency. · Operating result before amortization of intangible assets (EBITA) was SEK 120 million (SEK 137 million). · The net profit for the period increased from SEK 35 million to SEK 39 million. · A wide-reaching efficiency programme - SmartFuture - has been put into operation, aiming to reduce annual expenditure by SEK 100 million within 2 years and to simultaneously increase earnings. "

Profit increases for the VSM Group despite falling turnover

Profit increases for the VSM Group despite falling turnover ­Press Release- Interim report 9 August 2004 Profit increases for the VSM Group despite falling turnover ·Turnover for the first six months of 2004 was down 8 percent to SEK 978 million (SEK 1,062 million). Expressed in fixed exchange rates, turnover fell by 2 percent. · At the same time, the operating result before amortization of intangible assets (EBITA) rose by 21 percent to 87 SEK million (SEK 72 million). ·The sales of after market products for creative sewing, both software and accessories, increased. ·The net profit for the

Rise in profits for the VSM Group

Rise in profits for the VSM Group · Operating result before amortization of intangible assets (EBITA) rose during the first quarter by 38% to SEK 69 million (SEK 50 million). · Net profit rose to SEK 31 million (SEK 15 million). · Net sales were SEK 519 million (SEK 558 million). Expressed with fixed exchange rates this is a slight increase. · Operating cash flow improved by SEK 33 million to SEK 0 million despite a seasonal increase in working capital. · The new ultra-modern embroidery machine, Designer SE, was warmly received by American dealers. In the first quarter of 2004, sales for

New Pfaff sewing machine makes it easier to stretch the boundaries

New Pfaff sewing machine makes it easier to stretch the boundaries VSM Group has launched a new sewing machine that can both sew and embroider: Pfaff creative 2124. The machine is manufactured in Sweden, but is to be marketed internationally. After its launch onto the company's principal market, North America, it will now be Europe´s turn. "It is targeted at those with an interest in creative sewing and who have an eye on the pounds and pennies who want to stretch the boundaries and who also want to be able to embroider using a Pfaff," says Lill Nylén, sewing expert and PR Manager for VSM

2003 was the second best year ever for the VSM Group

2003 was the second best year ever for the VSM Group · Sales of Husqvarna Viking and Pfaff products rose by 1.4% during the last quarter of 2003. · Sales in the Group's principal market, North America, increased for the 18th year in succession. · The fall in the dollar (-17%) had an adverse effect on sales while the effect on results was more restrained. · Structural measures halved the operating loss in Germany. · The operating result before amortization of intangible assets was 133 MSEK (128 MSEK) for the last quarter and totalled 270 MSEK (308 MSEK) for the full year. · Operating cash

THE WINNER OF 2003 CONCOURS INTERNATIONAL DES JEUNES CRÉATEURS DE MODE HAS BEEN ANNOUNCED

THE WINNER OF 2003 CONCOURS INTERNATIONAL DES JEUNES CRÉATEURS DE MODE HAS BEEN ANNOUNCED Pfaff Sewing Machines and the VSM Group congratulates the winner of 2003 International Young Fashion Design Talent Contest As one of the main sponsors of Concours International des Jeunes Créateurs de Mode, one of the world's most prestigious international competitions for fashion students, Pfaff and the VSM Group are proud to make known the winner of the 2003 contest. The lucky winner of Concours International des Jeunes Créateurs de Mode is Claudia Bertolero from Peru. The final was held last night

French-Danish couple won the Spirit & Strength international quilt competition

French-Danish couple won the Spirit & Strength international quilt competition Inge Mardal and Steen Hougs won the Spirit & Strength international quilt competition against stiff competition comprising textile artists from 15 countries. The couple were recently awarded their first prize of a sewing machine worth around 50,000 Swedish kronor, Swedish glass sculpture by artist Bertil Vallien and 2,500 US dollars at a ceremony at the Houston International Quilt Festival, the world's largest quilt fair. "In just a few years, quilting has developed rapidly as an art form. It is becoming more and

Rise in profits for the VSM Group in the third quarter

Rise in profits for the VSM Group in the third quarter · Sales during the third quarter were on the same level as the record year 2002 , +0.5%. · In the Group's principal market, North America, sales rose by 11%. · Operating result (EBITA) increased during the period from SEK 49 million to SEK 65 million. · A new sewing TV programme is predicted to spark further interest in creative sewing. · Possible launch on the stock exchange no earlier than 2004. VSM Group AB SE-561 84 Huskvarna Sweden Tel: +46 3614 6000 (switchboard) CONTACTS Svante Runnquist CEO Tel: +46 3614 6682 Gunnar Vidén CFO

New Swedish-German "sewing computer" set to take Europe by storm

New Swedish-German "sewing computer" set to take Europe by storm A large screen with crystal-clear image reproduction, a PCMCIA reader, upgrade options via the Internet and an innovative design. The Pfaff creative 2144 is rather like a computer in many ways but in fact it is one of the world's most modern domestic sewing machines. Following its positive reception in the USA, the machine will be launched across Europe from Monday. "It makes it easier to be creative and it also makes it more fun to sew and embroider," says Lill Nylén, sewing expert and PR officer for the VSM Group's two

Continued growth for the VSM Group in the USA

Continued growth for the VSM Group in the USA · Turnover in the USA increased by 1.5 per cent during the second quarter compared with an exceptionally strong previous year. · Operating result before amortisation of intangible assets was 22 million SEK (53 MSEK). · Currency-adjusted sales for the group decreased by 4 per cent in the second quarter and by 7 per cent in the first half-year. · The lower dollar exchange rate had a limited impact on results, thanks to hedging. The currency-adjusted turnover of the VSM Group declined by 4 per cent compared with the second quarter of the previous

Stylish sewing machine range premiers in Jönköping on 18th August

Stylish sewing machine range premiers in Jönköping on 18th August Clean lines, rounded corners and light Scandinavian colours. The role of design in society is growing - even when it comes to choosing a sewing machine. The VSM Group, which has its headquarters and production in Huskvarna, was very aware of this when they designed their new Platinum sewing machine range due for launch at a large retailers' convention at Elmia in Jönköping on Monday, 18th August. The range offers uncommonly good-looking computerised sewing machines under the Husqvarna Viking brand; the hope is that the new

Market gets tough for the VSM Group

Market gets tough for the VSM Group · Sales fell by 20% (10% in local currencies) to SEK 558 million (700). · Operating result before amortization of intangible assets amounted to SEK 50 million (77). · Sales rose in group-owned outlets in the USA. Having enjoyed several years of rising sales, the VSM Group's turnover dropped in the period January to March 2003 by 20% to SEK 558 million (700) compared to the same period last year. Besides the weaker dollar, the main causes of the downturn were the uncertainty prevailing in the Group's principal market, the USA, where customers, hesitant

VSM Group main sponsor of international design competition

VSM Group main sponsor of international design competition Starting this year, VSM Group will act as main sponsor for the international Young Fashion Designer Competition. "The purpose of the competition is to encourage and support young design students and give them the opportunity of being spotted by the fashion industry," says Lill Nylén, PR Director for VSM Group's global brands, Husqvarna Viking and Pfaff. The Young Fashion Designer Competition lasts all year. Following local heats in some 15 countries, the young clothes designers gather for a major final in Paris, where they will have

Major interest for art quilts in Paris

Major interest for art quilts in Paris Some of the world's most beautiful art quilts are currently on display at the Bibliothèque Fourney art library in Paris. Two of these quilts were created by textile artists Veronica Franka from Stockholm, and Bodil Vinke from Helsingborg. The Feel Free Exhibition, as it is known, is the result of an international quilt competition with participants from 20 countries. Behind the exhibition is sewing machine manufacturer VSM Group, and one of its global brands, Husqvarna Viking. "It involves about 50 quilts created by textile designers. They are

The 2002 jubilee year was the best ever for the VSM Group with its two global brands, Husqvarna Viking and Pfaff

The 2002 jubilee year was the best ever for the VSM Group with its two global brands, Husqvarna Viking and Pfaff ·Sales rose by 9% to SEK 2.760 million (13% in local currencies). ·Operating result before amortization of intangible assets rose by 54% to SEK 307.8 million. ·Strong cash flow. ·Successful integration of Pfaff. ·The interest in creative sewing continued to grow in large parts of the world. 2002 saw a record year for the VSM Group and the company's anniversary brands, Husqvarna Viking (130 years) and Pfaff (140 years). Sales of home sewing machines, software and accessories for

Beautiful contemporary quilts on show at the Bibliothèque Fourney in Paris

Beautiful contemporary quilts on show at the Bibliothèque Fourney in Paris Spain, the USA, Australia and Alaska. 50 of the world's most beautiful quilts have been on tour all over the world for quite some time now, under the name "Feel Free". On 20th January 2003 the exhibition will open at the Bibliothèque Fourney, the famous arts library in Paris. The exhibition is sponsored by Husqvarna Viking, one of the well-known brands of the sewing machine manufacturer the VSM Group. The "Feel Free" exhibition stemmed from an international quilt competition involving participants from 20 countries,

Strong development for the VSM Group in all markets

Strong development for the VSM Group in all markets · Demand for "the joy of creative sewing" has increased in all markets. · Successful launches of the new generation of computerised sewing machines. · Operating result before depreciation of intangible assets (EBITA) more than doubled during the third quarter from SEK 21 million to SEK 49 million. Demand for the VSM Group's products was strong in all markets during the third quarter of 2002. Despite the fact that the international business markets were weak, sales increased in all of the company's product areas - home sewing machines,

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