Slides
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Q2 Results – July 18, 2025 Pavel Hajman, CEO Terry Burke, CFO
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2 Glen Instone appointed new CEO of Husqvarna Group Effective August 11, 2025
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3 Good growth with improved profitability • Good organic growth. Higher EBIT in all divisions • Innovation leadership reinforced. Well received product launches • Double digit growth in watering and robotic mowers • Delivery on cost savings. Reduced net debt • Successfully reached 2 out of 3 Sustainovate targets • Uncertain market situation, linked to trade tariffs and geopolitical instability, with significant weakened demand in North America
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DIRECT OPERATING CASH FLOW SEK 2,357 m ( 3,917 ) NET SALES SEK 15,277 m (15,430) ORGANIC SALES +5% ROBOTICS AND BATTERY 22% (20) of Group R12 OPERATING INCOME SEK 2,041 m (1,906) MARGIN 13.4% (12.4) SEK • Inventory reduced by SEK 2.8bn and net debt by SEK 3.3bn compared to last year • Higher sales have reduced cash flow from receivables. Cash flow from inventories lower than last year. • Organic growth in the Husqvarna Forest & Garden and Gardena divisions • Strong growth in robotics and watering product categories • Challenging market conditions in North America for all three divisions • Strong growth from new professional robotic mower lineup • Well received new boundary wire-free residential robotic mowers • Growth in battery products, handheld and wheeled • Higher volumes and favorable product mix effects • Delivering on cost savings programs • Impact from currency effects. Lower prices and tariffs Note: Operating income excluding items affecting comparability Good growth and higher EBIT in Q2
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Husqvarna Forest & Garden Division Q2: Organic growth 5%; operating margin at 13.3% • Strong growth for robotic mowers • Good development in handheld and battery-powered products • Challenging situation with significantly lower result in North America • Negative effects from currency and from lower prices H1: Organic growth 5%; operating margin at 13.1% Note: Operating income excluding items affecting comparability
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Gardena Division Note: Operating income excluding items affecting comparability Q2: Organic growth 7%; operating margin at 17.5% • Strong growth for the watering business, good demand in the gardening season • Growth for robotic mowers, driven by the launch of new boundary wire- free models • EBIT grew 18% driven by strong volume growth, product mix and delivery on cost savings H1: Sales declined organically by 1%; operating margin at 14.5%
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Husqvarna Construction Division Note: Operating income excluding items affecting comparability Q2: Organic sales declined 4%; operating margin at 12.7% • Stable development in Europe • Weak market and lower sales in North America • Growth for demolition robots, dust extractors and aftermarket sales • Increased EBIT driven by mix, cost savings and operational efficiency. Partly offset by lower volumes as well as currency of SEK -60m H1: Sales declined organically by 6%; operating margin at 10.0%
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Q2 EBIT bridge (excl. IAC) Q2 2024 PriceVolume / mix / other Cost savings Transformational initiatives Q2 2025Currency/tariffs 2,041 (13.4% margin) +300 -160 +225 -40 -190 +135m +7% Note: Numbers are rounded to nearest 5 or 0. 1,906 (12.4% margin)
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H1 EBIT bridge (excl. IAC) H1 2024 PriceVolume / mix / other Cost savings Transformational initiatives H1 2025Currency/tariffs 3,602 (12.0% margin) +20 -290 +435 -70 -330 -235m -6% Note: Numbers are rounded to nearest 5 or 0. 3,837 (12.7% margin)
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Consolidated balance sheet 10 • Solid financial position • Inventory reduction of SEK 2.8bn (compared to last year) • Lower borrowings • Higher volumes have driven increased trade payables SEKm June 30, 2025 June 30, 2024 Non-current assets 29 613 31 262 Inventories 11 954 14 720 Trade receivables 10 683 10 519 Other current assets 2 690 1 922 Cash and cash equivalents 3 475 2 059 Total assets 58 415 60 482 Total equity 24 645 25 516 Borrowings 12 308 13 276 Lease liabilities 1 726 2 081 Provisions for pensions 2 040 1 935 Other provisions 1 894 2 143 Trade payables 6 786 5 934 Other liabilities 9 015 9 597 Total equity and liabilities 58 415 60 482
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Note: average net debt / rolling 12 months EBITDA, excl. items affecting comparability Net debt / EBITDA (R12)
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Direct operating cash flow
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Battery-powered products Professional solutions WateringRobotic mowers Prioritized areas for sustainable value creation
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Progress on our operational ambitions 0 2 4 6 8 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 LTM SEK bn 7.8 0 10 20 30 40 50 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 LTM Share of electrified solutions % Sales of robotic mowers Share of sales to professional users 20 25 30 35 40 2018 2019 2020 2021 2022 2023 2024 LTM % Number of connected products 0 1 2 3 4 5 6 2018 2019 2020 2021 2022 2023 2024 LTM 5.5mM ~ 46% ~ 35%
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Share of robotic mower sales (SEK 7,8bn LTM) The professional segment Premium / mid-range segment Entry segment ~15% ~70% ~15% Robotic mowers grew 14% in H1 2025 Growth in H1
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New AirCleaners for construction site safety and efficiency Expanding sales channels on key markets Highlights from the Group in Q2 Strong partnerships accelerate the business Watering at record levels
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Launch 50 new circular innovations Empower 5 million people to make sustainable choices Reduce absolute CO2 emissions by 35% CIRCULAR PEOPLECARBON -55% 41 5.2m Status Q2 202 5: Status Q2 2025: Status Q2 2025: Two out of our three Sustainovate targets reached
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18 • Good organic growth. Higher EBIT in all divisions • Innovation leadership reinforced. Well received product launches • Double digit growth in watering and robotic mowers • Delivery on cost savings. Reduced net debt • Successfully reached 2 out of 3 Sustainovate targets • Uncertain market situation, linked to trade tariffs and geopolitical instability, with significant weakened demand in North America Good growth with improved profitability
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