Husqvarna AB
Husqvarna Group was founded in 1689 and is today a world-leading manufacturer of innovative products and solutions for forest, park and garden management. The range includes robotic lawnmowers, chainsaws, trimmers, riding lawnmowers and garden irrigation. Husqvarna Group is also a leader in equipment and diamond tools for the construction and stone industries. The Group`s products and solutions are mainly sold under the global Husqvarna and Gardena brands via direct sales, dealers and retailers to consumers and professional users in more than 100 countries. Sales in 2022 amounted to SEK 54 billion and the Group has approximately 14,400 employees in 40 countries.
Company details
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- Business Type:
- Manufacturer
- Industry Type:
- Horticulture
- Market Focus:
- Globally (various continents)
This company also provides solutions for other industrial applications.
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About Us
At a glance
Shaping great experiences is what we do. With our passion for innovation, we create products and services for customers around the world.
By continuously challenging ourselves, we have kept innovating and re-inventing our business for more than three centuries.
CEO’s Message
We are on a successful journey to build a stronger Husqvarna Group by repositioning our business. We are focusing more on premium and professional segments, while pivoting our offering to become even more sustainable, smart and connected. Over time this has resulted in a better business composition with higher growth and margins. Our strategy was formed by our dear colleague and CEO, Henric Andersson, who sadly passed away in February 2023. Husqvarna Group has lost a dear friend and a visionary leader whom we had the privilege of working together with for over 25 years. We are all thankful and proud of the results the organization has delivered under Henric’s leadership, and he will be deeply missed.
We are capturing opportunities in a world that is electrifying at a rapid pace and where the use of autonomous, connected and smart products and solutions are increasing rapidly. We are constantly re-inventing ourselves, identifying and capturing market opportunities to further future-proof our company. One example is Husqvarna CEORA, a true milestone revolutionizing the professional turf care market. Customer feedback has been excellent, and sales have exceeded initial expectations. Other examples include the Husqvarna Construction Division expanding its proprietary Husqvarna PACE battery system into additional applications and the Gardena Division continuing its acceleration in smart watering.
Sustainable value creation
Sustainable value creation describes our ambition to consistently deliver returns to our shareholders, while contributing to a more sustainable society. It serves as our strategy’s north star and is about making sure we can deliver innovative products and solutions our customers appreciate over time. This is something we have success fully done since 1689. We achieve this by driving the transformation of our business and our industry, seeking to address climate change and resource scarcity. We continue our effort to transform our business towards higher growth and a lower carbon footprint, and continued to make progress on our targets, but more importantly, we demonstrated our Sustainovate ambition by launching highly innovative new solutions.
Accelerating our strategic transformation
To further accelerate our strategic transformation, we will increase our investments into our key sustainable value creation levers: robotic mowers, battery, smart watering and professional solutions. We will add an additional SEK 400m of investments in these areas per year by 2025. We will implement decisive structural changes and savings in other segments. As a leader in the transformation to more low-carbon and resource-smart solutions, we will exit some SEK 2bn in yearly sales of low margin petrol-powered consumer business in 2024. In total, these measures will result in total annual cost savings of approximately SEK 800m fully effective in 2025 and net SEK 400m after the increased investments into the sustainable value creation levers.
Well positioned for the future
We continue to future-proof our company and our offering. We are well positioned thanks to our winning strategy and through the opportunities we are capturing. Most important in this is our global team of passionate and innovative colleagues. To remain successful, we constantly prioritize development and build on our strong culture to empower our team and colleagues. We are strengthening our learning mindset, nurturing our curiosity and investing in our capabilities to enable us to grow as individuals and as a team. During the year, substantial work has been carried out to ensure we have a common perspective and to continue to develop our Group culture. It is a key strategic enabler for us to realize our strategy and build a company fit for the future. Through our leading positions, a forward-leaning strategy and a dedicated and strong team, we will continue to create sustainable value for customers, shareholders and society.
Our History
Ever since our start in 1689, our passion for innovation, development and precision has led to a long line of successful products and solutions in very different areas - from weapons, sewing machines and motorcycles to market-leading outdoor power products for customers around the globe. Today, our commitment to increasing usability together with our respect for nature is guiding us to produce more ergonomic products with lower emissions and better energy efficiency than ever before.
Our Vision
We've set our eyes on 2025 - market leadership is our ambition. To get there, building a winning culture is fundamental. Our core purpose, vision and key behaviors provide a solid foundation, they inspire us and shape our direction. By staying true to them we will lead in the long term, and win together.
Our Core Purpose
Passion for innovation is what defines us.
It’s in our DNA and part of our long history and heritage. It is what has shaped our company to what it is today and it has also become a vital part in our work towards a sustainable future. We leverage technology to turn opportunities into value for our customers. Through our purpose we deliver on our vision.
Our Vision
Shaping great experiences is what drives us forward. It is our inspiration.
We are proud to be leaders in sustainable, user-centered solutions. Through our products and services, we partner to shape the green spaces and urban environments of today and of tomorrow.
Our Culture
Winning through Culture
Our culture is the fuel that drives us to achieve our goals and defines how we do things. It sets the expectations we have of ourselves and each other. We have defined our culture and the three themes that will help us transform as a company:
We are Bold, We are Dedicated and We Care.
These themes are connected, and they strengthen each other – like many things in life and business. They have different purposes but most importantly – they don’t work in isolation.
SUSTAINABILITY
By placing Sustainovate at the heart of what we do, we’re shaping a company that’s built to last.
With improved efficiency, smarter use of resources and stronger teams, Sustainovate is how we’ll deliver even greater value to people and the planet.
Corporate Governance
Create long-term value
Husqvarna Group's overall objective is to create long-term value for its shareholders and other stakeholders. This requires effective corporate governance with an appropriate organizational structure, systems for internal control and risk management, and transparency.
Husqvarna AB is a publicly traded company listed on the NASDAQ Stockholm and applies the Swedish Code of Corporate Governance.
Good corporate governance is a fundamental prerequisite not only to meet our obligations as a public company, but also to create value for shareholders in an efficient, responsible and sustainable manner. Husqvarna Group’s corporate governance structures are defined in part by external laws (e.g., the Swedish Companies Act), in part by self-regulatory standards (e.g., the Swedish Code and the Nasdaq Stockholm Rulebook for Issuers) and in part by internal rules (e.g., the Company’s Articles of Association, Code of Conduct, and policies). While not mandatory, Husqvarna Group has elected to comply with all aspects of the Swedish Code, without exception.
Our Business
We're made up of three divisions and two core brands
Unique goals need unique teams. Our three strong, focused and empowered divisions have the specific expertise to win in their markets.
Our Husqvarna Forest & Garden Division specializes in products and solutions serving residential owners and professionals in shaping green spaces. Our Gardena Division caters to home and garden owners. And our Husqvarna Construction Division provides equipment, diamond tools, service and support for professionals who work with hard materials like concrete and stone to shape urban environments of tomorrow.