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Husqvarna Group INTERIM REPORT JANUARY - MARCH 2021 Q1 Strong start of the year First quarter 2021 • • • • Net sales increased by 15 % to SEK 14,030m ( 12,208 ) . The organic growth was 24 % , changes in exchange rates impacted with -10 % and acquisitions with 1 % . Operating income increased by 61 % to SEK 2,293m ( 1,424 ) . The operating margin was 16.3 % ( 11.7 ) . For the rolling 12 - month period the operating margin amounted to 12.2 % ( 8.9 ) , excluding items affecting comparability . Earnings per share after dilution amounted to SEK 2.89 ( 1.73 ) . Cash flow from operations and investments was SEK 1,548m ( 416 ) . Direct operating cash flow was SEK 143m ( -132 ) . Operating working capital / net sales amounted to 22.5 % ( 29.4 ) . The Group's absolute CO2 emissions across the value chain has been reduced by 31 % compared with the 2015 base line and measured on a rolling 12 - month basis . Significant events after the quarter • • The AGM was held on April 14 and the dividend was set at SEK 2.40 ( 2.25 ) per share . Sascha Menges , President Husqvarna Division , has decided to take a position outside of the Husqvarna Group ( see page 8 ) . Financial summary Group , SEKM Net sales Organic growth * , % Q1 Q1 Full year 2021 2020 A % Operating income ( EBIT ) 14,030 24 2,293 12,208 15 -14 1,424 61 Operating margin , % 16.3 11.7 LTM * 43,764 13 4,538 10.4 2020 41,943 0 3,669 8.7 Operating income excl . items affecting comparability * 2,293 1,424 61 5,353 4,484 Operating margin excl . items affecting comparability * 16.3 11.7 12.2 10.7 Income after financial items 2,232 1,315 70 4,246 3,330 Net income for the period 1,659 992 67 3,162 2,495 Earnings per share after dilution , SEK 2.89 1.73 67 5.51 4.35 Direct operating cash flow * 143 -132 n / a 6,347 6,071 Operating working capital / net sales * , % 22.5 29.4 22.5 24.4 * Alternative Performance Measure , refer to " Definitions " . 1 ( 19 )