Net sales increased by 9% to SEK 17,167m ($1.67 billion). Organic sales growth was 2% and changes in exchange rates contributed with 7%.

Operating income was SEK 2,364m ($229.3 million) and the operating margin 13.8%. Excluding items affecting comparability, operating income grew by 10% to SEK 2,410 ($233.8 million) and the operating margin was 14%.

Items affecting comparability amounted to SEK –46m ($1.5 million) and was related to the acceleration of the strategic transformation announced in October 2022.

Cash flow from operations and investments was SEK 588m ($57 million). Direct operating cash flow improved to SEK –239m ($23.2 million).

Operating working capital/net sales was 32.7%.

Solid start to the year

Husqvarna stated in the report that growth was particularly strong for robotic mowers, battery-powered products and wheeled products.

"The Husqvarna Forest & Garden Division delivered an organic sales growth of 14%," the report said. "Growth of robotic mowers were strong for both the residential and professional segments, supported by solid demand and restocking by our servicing dealers. In addition, the supply chain improved and the order backlog decreased during the period. The division’s assortment of battery-powered products were expanded and the category achieved a strong performance.

"Organic sales growth in the Gardena Division was –20%. Sales were impacted by the continued cautious approach to increase stock levels ahead of the gardening season among our retail partners. It should also be viewed in light of challenging comparables from the preceding year."

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