Husqvarna AB (publ) (HUSQF) Q4 2023 Earnings Call Transcript

Husqvarna AB (publ) (OTCPK:HUSQF) Q4 2023 Earnings Conference Call February 2, 2024 4:00 AM ET

Company Participants

Johan Andersson - Investor Relations
Pavel Hajman - Chief Executive Officer
Terry Burke - Chief Financial Officer

Conference Call Participants

Fredrik Ivarsson - ABG
Gustav Hageus - SEB
Johan Eliason - Kepler Cheuvreux
Adela Dashian - Jefferies
Adela Dashian - Jefferies
Karri Rinta - SHB
Björn Enarson - Danske Bank

Johan Andersson

Hello, everyone, and welcome to the presentation of Husqvarna Group’s report for the Fourth Quarter and Full Year 2023. My name is Johan Andersson. I am heading up the Investor Relations department here in Husqvarna Group. And here in Stockholm today, we will present the report by our CEO, Pavel Hajman; and our CFO, Terry Burke. After the presentation of the report, we will open up for a Q&A session. [Operator Instructions]

So with that, I would like to hand over to Pavel to start today’s presentation. Please, Pavel?

Pavel Hajman

Thank you, Johan and welcome everyone, of course, also from my side. And before we go into the quarter, I am very glad that we can conclude that we are closing the year where we actually continue to deliver on our strategy in a very challenging market environment. And we have improved our operating margin for the group and also in all three divisions and cash flow is up just above SEK7 billion improvement for the year. And we have advanced in our key areas for value creation and really reinforced our position in segments such as robotics, battery products and smart watering.

But let’s turn into the quarter then and some of the comments there. During quarter 4, we experienced that the challenging market conditions continued just as they were in quarter 3. Our customers are generally more cautious and awaiting the