Outdoor power equipment maker Husqvarna AB (Stockholm) reported full-year 2012 net sales of SEK 30,834 million (approx. USD $4.9 billion), up slightly from SEK 30,357 million in 2011.
Operating income was up to SEK 1,615 million (approx. $256.8 million) in 2012, from SEK 1,551 million in 2011. Excluding items affecting comparability, operating income was SEK 1,871 million, up from SEK 1,615 million.
"Market conditions in Europe weakened significantly in the fourth quarter," said Hans Linnarson, president and CEO. "Due to the macroeconomic uncertainty, trade partners were cautious about building inventory for the coming season. Sales of seasonal products such as snow throwers and chainsaws declined mainly as a result of the weak consumer demand. Sales were also negatively impacted by delays in some recently launched handheld products."
Low snowfall in North America hurt 4Q 2012 snow thrower business, while renewed North American construction helped driver better Husqvarna power tools business in the region.
to Daily News