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    HUSQ B   SE0001662230

HUSQVARNA AB (PUBL)

(HUSQ B)
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Husqvarna Group and Briggs & Stratton have reached a settlement to resolve engine supply in 2022

11/11/2021 | 04:01pm EST

Husqvarna Group and Briggs & Stratton, LLC (B&S) have reached a settlement with regards to the supply of engines for ride-on mowers. Under the terms of the settlement, B&S will provide the majority of the engines needed ahead of the 2022 season. Additionally, the parties have agreed to maintain a modified supply relationship into the 2023 season.

Husqvarna Group previously communicated a potential negative financial impact in 2022 as a result of a lack of engine supply. The settlement means that the lawsuit against B&S is withdrawn, and that Husqvarna Group no longer anticipates a material financial impact from this issue.

"We have achieved a satisfactory outcome that allows us to secure products for our customers in 2022," says Glen Instone, Acting President Husqvarna Division and CFO Husqvarna Group.

For more information, please contact
Investors: Johan Andersson, Vice President Investor Relations, +46 702 100 451 or ir@husqvarnagroup.com
Media: Daniel Frykholm, Husqvarna Group Press department, +46 8 738 9080 or press@husqvarnagroup.com 

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 22.00 CET on November 11, 2021.

Husqvarna Group
Husqvarna Group is a global leading producer of outdoor power products and innovative solutions for forest, park and garden care. Products include chainsaws, trimmers, robotic lawn mowers and ride-on lawn mowers. The Group is also the European leader in garden watering products and a global leader in cutting equipment and diamond tools for the construction and stone industries. The Group's products and solutions are sold under brands including Husqvarna, Gardena, McCulloch, Flymo, Zenoah and Diamant Boart via dealers and retailers to consumers and professionals in more than 100 countries. Net sales in 2020 amounted to SEK 42bn and the Group has around 13,000 employees in 40 countries. 

https://news.cision.com/husqvarna-ab/r/husqvarna-group-and-briggs---stratton-have-reached-a-settlement-to-resolve-engine-supply-in-2022,c3452036

https://mb.cision.com/Main/996/3452036/1494931.pdf

(c) 2021 Cision. All rights reserved., source Press Releases - English

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Analyst Recommendations on HUSQVARNA AB (PUBL)
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Financials
Sales 2021 45 581 M 4 996 M 4 996 M
Net income 2021 4 060 M 445 M 445 M
Net Debt 2021 8 231 M 902 M 902 M
P/E ratio 2021 18,3x
Yield 2021 2,13%
Capitalization 73 963 M 8 110 M 8 107 M
EV / Sales 2021 1,80x
EV / Sales 2022 1,64x
Nbr of Employees 13 813
Free-Float 74,9%
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Mean consensus OUTPERFORM
Number of Analysts 7
Last Close Price 129,65 SEK
Average target price 141,86 SEK
Spread / Average Target 9,42%
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Managers and Directors
Henric Andersson President, Chief Executive Officer & Director
Glen Anthony Instone CFO & President-Husqvarna Division
Thomas Johnstone Chairman
Pavel Hajman Chief Information Officer & Senior Vice President
Anders Johanson CTO & Senior VP-Innovation & Technology
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