Edition:
United Kingdom

Husqvarna CEO braces for hit from possible trade tariffs 2018, 2019


Tuesday, 17 Jul 2018 

July 17 (Reuters) - Husqvarna AB CEO Kai Warn to Reuters::HUSQVARNA CEO SAYS STILL REASONABLE TO EXPECT HUSQVARNA, GARDENA, CONSTRUCTION DIVISIONS SALES GROWTH OF MORE THAN 5 PERCENT.HUSQVARNA CEO SAYS NO LONGER EXPECTS TO REACH 10 PERCENT OPERATING MARGIN TARGET THIS YEAR BUT SHOULD BE POSSIBLE IN 2019.HUSQVARNA CEO EXPECTS NEGATIVE EFFECT FROM POSSIBLE TRADE TARIFFS IN 2018, BIGGER NEGATIVE EFFECT IN 2019.HUSQVARNA CEO REPEATS SEES 2018 CAPEX AT 1.8-1.9 BILLION SEK, RAW MATERIALS EFFECT -250 MILLION, CURRENCY TRANSLATION EFFECT +200 MILLION.HUSQVARNA CEO SAYS UNUSUAL DRAUGHT IN NORDICS HAD SOME NEGATIVE EFFECT ON DEMAND TOWARDS END OF Q2 DUE RISKS OF FIRE, LITTLE GRASS GROWTH.