The Husqvarna Group last week announced financial results for the second quarter of 2012, reporting strongest growth in North America. Operating income increased 12 percent to SEK 1.14 billion (about U.S. $163.9 million) from SEK 1.01 billion in the year-ago period. Income was higher for the Americas and the Construction group, and lower for the Europe and Asia/Pacific markets.
Net sales in the second quarter amounted to SEK 10.71 billion (U.S. $1.54 billion) a 5-percent increase from SEK 10.18 billion in 2Q11. Adjusted for exchange rate effects, net sales were unchanged. Sales for Americas grew double digit, supported by improved factory delivery performance and a more favorable business environment, while sales for Europe and Asia/Pacific decreased. Sales of professional products in the dealer channel in Europe and Asia/Pacific increased in spite of the weak market conditions. For Construction, the trend from the first quarter with growth in the North American market continued and the European markets remained challenging.
"Growth in the North American market continued, but the demand for forestry and garden products slowed down towards the end of the quarter,” said Hans Linnarson, president and CEO. “In the European markets, demand was hampered by unfavorable weather as well as weaker market conditions.”
Earnings per share in the second quarter increased to SEK 1.36 (U.S. $0.19).
The Husqvarna Group is a global producer of outdoor power products including chainsaws, trimmers, lawn mowers and garden tractors.