Husqvarna's Q3 Sales Dip 2%

Acting president says slowdown in global demand is hurting sales, yet the company holds its share of the North American forest and garden market.

Hans Linnarson, acting CEO and president of Husqvarna, has made the following statement: "Husqvarna's consumer business has been affected by the slowdown in the global consumer demand, the uncertain economic environment and the unfavorable weather. Operating income for the third quarter declined, mainly as a result of lower sales, unfavorable mix and higher costs.

“We have maintained our market positions for forest and garden products both in Europe and North America, despite the supply chain challenges in North America. In some categories, like ride-on and robotic mowers in Europe, we have significantly increased our market shares. Accumulated for the year up until September, sales for Europe and Asia/Pacific and Construction have increased while Americas' decreased, adjusted for exchange rate effects.

“Construction's performance has been strong all year, resulting in increased operating income and strengthened market positions.

Pre-season production for 2012 has started earlier than last year in order to secure a high customer service level. The Group's listings for forest and garden products are estimated to be unchanged vs. 2011, however with an improved mix among the retailers, confirming the success of our efforts to supply market leading, innovative products with strong brands."

Third-quarter net sales for the Group, adjusted for exchange rate effects, decreased by 2%.

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