Edition:
United Kingdom

Husqvarna CEO sees 2019 EBIT margin at lower end of previous guidance range


Tuesday, 16 Jul 2019 

July 16 (Reuters) - Husqvarna AB CEO Kai Warn & CFO Glen Instone to Reuters::HUSQVARNA CEO SEES FULL-YEAR 2019 OPERATING MARGIN AT THE LOWER END OF THE EARLIER 9.6-10.0 RANGE GUIDANCE DUE TO WEAK SALES START TO Q2.HUSQVARNA CEO SAYS SLOW SALES START TO Q2 WAS PARTLY AN EFFECT OF THE STRONG Q1, PARTLY AN EFFECT OF COLD WEATHER WHICH HIT DEMAND FOR LAWN MOWERS.HUSQVARNA CFO SAYS STILL SEES HEADWINDS FROM US TARIFFS IN 400-500 MILLION SEK RANGE IN FY2019, POSSIBLY IN LOWER END OF RANGE.HUSQVARNA CFO SAYS EXPECTS TO FULLY OFFSET US TARIFF HEADWINDS WITH PRICE HIKES IN FY2019.HUSQVARNA SAYS GROWTH FOR BATTERY BASED PRODUCTS AND ROBOTICS WAS SINGLE-DIGIT IN H1, BUT UNDERLYING CASE REMAINS STRONG AND OUR MID-TERM EXPECTATION IS STILL ANNUAL GROWTH OF AROUND 15-20%.