Sales in Husqvarna Division increasedStaff Writer | October 20, 2016
Sales in the Husqvarna Division increased 5% in January - September 2016, adjusted for currency, with the European market maintaining its solid growth trend.
Husqvarna Operating income increased to SEK 368m
The downturn in sales for the Gardena Division in the quarter was expected given the favorable weather conditions last year in Central Europe, but was limited to -6% following a successful launch of a new range of hand tools.
Operating income decreased to SEK 50m (113) mainly as a consequence of the volume decline and a higher cost level due to the growth initiatives.
On a year-to-date basis Gardena has increased sales by 9% adjusted for currency, reflecting the success in terms of expanded distribution and several new product introductions.
Cost reductions and efficiency enhancements in the Consumer Brands Division are progressing according to plan, however somewhat overshadowed by negative currency effects and the impact from lower sales which decreased by 10% adjusted for currency.
The seasonal driven operating loss was reduced to SEK -80m (-119) and the margin improved to -5.2% (-7.0).
The Construction Division continued to deliver higher operating income and margin, despite a lower growth rate than in the previous quarters.
Sales were 1% higher adjusted for changes in exchange rates, operating income increased to SEK 155m (144) and the corresponding margin rose to SEK 14.9% (14.1). ■