Interim report January-June 2008

Report

Press release

  • Net sales for the first half year decreased by 4% to SEK 20,386m (21,262). Excluding acquisitions, net sales decreased by 12% and by 7% in comparable currencies.
  • Operating income decreased by 8% to SEK 2,523 m (2,742). Excluding acquisitions, operating income decreased by 17% in comparable currencies.
  • Income for the period decreased to SEK 1,563m (1,683), corresponding to SEK 4.06 (4.36) per share.
  • Net sales for the second quarter decreased by 14% to SEK 10,343m (12,048) and operating income by 25% to SEK 1,321m (1,758).
  • The decline in net sales and operating income is due mainly to considerably lower shipments for Consumer Products in North America, which decreased in line with overall industry shipments.
  • Sales and income for Gardena's irrigation products declined when compared to an exceptionally strong second quarter in 2007.
  • Largely unchanged sales and operating income for Professional Products, adjusted for acquisitions and changes in exchange rates.

TELEPHONE CONFERENCE

A telephone conference will be held at 14.00 CET on 18 July 2008. In order to participate in the telephone conference, please call +46 (0)8 5052 0114 or +44 (0)20 7162 0125. A replay of the telephone conference will be available at the Group's website www.husqvarna.com/ir.