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Husqvarna's Linnarson Reports 2Q Results
Jul 19, 2012
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Hans Linnarson, President and CEO of outdoor power equipment maker Husqvarna, released comments this morning on the group's official results for January through June 2012. The official results will be announced later today.

Linnarson said second-quarter 2012 growth in North American continued, although forestry and garden products demand slowed near the quarter. European markets were hampered by weather, on top of weaker market conditions.

"Group net sales for the second quarter were on the same level as the corresponding quarter in the previous year, adjusted for currency effects. Sales for Americas grew double digit, supported by improved factory delivery performance and a more favorable business environment, while sales for Europe & Asia/Pacific decreased," Linnarson said.

Professional products sales in the dealer channels in Europe and Asia/Pacific grew despite market. In the retail channel, watering products sales declined, he said, while robotic mowers continued showing good performance in both channels.

Construction growth in North America, which was up in the first quarter, continued in the second quarter, Linnarson said, while Europe remains challenging.

Linnarson said group operating income in the second quarter was up 12%.

"Looking ahead, the immediate market development in Europe as well as in North America is difficult to assess," Linnarson reported.

Husqvarna 2Q net sales were SEK 10,706 million (approx. US$1.54 billion), up from SEK 10,179 million in 2Q 2011.

Operating income increased 12% to SEK 1,136 million (approx. $164 million), up from SEK 1,012 million in 2Q 2011.

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