STOCKHOLM, Nov. 30, 2021 /PRNewswire/ -- Husqvarna Group (HUSQ-B) announces new financial targets and at the Capital Markets day on December 1st will present how continued transformation and investments will accelerate profitable growth. The company reiterates its commitment to the electrification of the industry and therefore increases its growth ambitions for robotics and battery solutions. Delivering in these areas will further improve shareholder value creation and sustainability performance.
At the Capital Markets Day taking place in Stockholm tomorrow, the Group Management team will present how the Group is accelerating the execution of its strategy including the new financial targets*:
- Net Sales: 5% annual organic growth
- Profitability: 13% operating margin
- Capital Efficiency**: 20% of Net Sales
"I am proud that we can increase our growth and margin ambitions even after taking account of the recent temporary positive effects from the stay-at home trend. Global macro trends including sustainability, electrification, automation and digitalization provide tremendous opportunities for the Husqvarna Group. We are committed to leading the transformation of our industry and continuously increasing the share of electrified products", says Henric Andersson, President and CEO. "Additional investments will enable our growth plans and further strengthen our positions, particularly in high growth segments".
The Group's Sustainability targets are reiterated, meaning a 35% absolute carbon emission reduction target (scope 1,2 & 3), introducing 50 circular innovations, and to empower 5 million customers and colleagues to make sustainable choices before 2025.
In addition to the revised financial targets, new operational ambitions to drive sustainable value creation will be presented. The ambitions include to, within five years, double the sales of robotic mowers, double the number of connected devices, and increase the share of electrified products*** sold from 38% to 67%.
The Husqvarna Group Capital Markets Day 2021 begins at 08.30 CET on December 1st 2021, at Fotografiska in Stockholm, Sweden. At the event, Husqvarna Group will showcase recent launches including the battery-powered K1 Pace power cutter and the professional robotic mower CEORA™. The showcase also includes the smart watering solution B-hyve® by Orbit Irrigation, which was acquired by Gardena on November 30th 2021. To join online, please go to: https://husqvarnagroup-invite.creo.se/registration https://husqvarnagroup-cmd.creo.se/2021
* The previous financial targets were: Net Sales growth: market growth +2 ppts; Operating margin >10%; and Capital Efficiency ≤25%.
** Defined as Operating Working Capital in relation to Net Sales
*** Defined as share of sales of motorized products
This press release contains insider information that Husqvarna AB is required to disclose under the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the contact person set out above, at 20.00 CET on November 30, 2021.
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Husqvarna Group Capital Markets Day 2021 press release
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SOURCE Husqvarna AB