Core Insights - EXEL Industries reported a full-year revenue decline of 10.6% for 2024–2025, amounting to €983 million, with a 9.6% decrease at constant scope and foreign exchange rates [10][18] - The company faced challenges in its agricultural activities, particularly in Agricultural Spraying and Sugar Beet Harvesting, while the Garden and Industry segments provided some stability [16] Revenue Breakdown - **Q4 Revenue**: In Q4 of 2024–2025, revenue was €257.5 million, down 11.2% year-on-year, influenced by a high basis for comparison [3] - **Agricultural Spraying**: Revenue decreased by 19.9% for the fiscal year, reflecting cautious behavior from farmers and reduced orders for new machines [11] - **Sugar Beet Harvesting**: Revenue fell by 12.9% for the fiscal year, driven by decreasing cultivated areas in Europe and a wait-and-see attitude in North America [13] - **Leisure Segment**: This segment saw a revenue increase of 5.6% for the fiscal year, with strong performance in the UK and Southern Europe [14] - **Industry Segment**: Revenue was relatively stable, with a slight decline of 0.7% for the fiscal year, showing contrasting trends across regions [15] Regional Performance - **Europe**: The agricultural spraying market is gradually recovering, with new orders rebounding, although North America remains challenging [12] - **North America**: The market is under pressure due to falling commodity prices and rising input costs, affecting farmers' morale [6] - **Asia**: The industrial spraying segment showed a return to growth, contrasting with a slowdown in Western Europe [9][15]

Core Insights - Husqvarna Group reported good organic growth with improved profitability in Q2 2025, with sales growing organically by 5% and operating income increasing across all divisions [2][6][3] Financial Performance - Net sales decreased by 1% to SEK 15,277 million, impacted by a -6% change in exchange rates, while organic sales increased by 5% [6] - Operating income was SEK 2,063 million, with an operating margin of 13.5%, up from 12.3% [6] - Earnings per share after dilution increased to SEK 2.76 from SEK 2.22 [6] Division Performance - The Husqvarna Forest & Garden Division achieved 5% organic sales growth, driven by strong demand for robotic mowers, which grew by 15% [3] - Gardena Division's organic sales grew by 7%, significantly improving its operating margin due to strong growth in the watering category [4] - Husqvarna Construction Division experienced a 4% decline in organic sales, with stable development in Europe but weak sales in North America [4] Debt and Cash Flow - The company reduced net debt by SEK 3.3 billion compared to the previous year, bringing it down to SEK 12.3 billion [5][6] - Direct operating cash flow amounted to SEK 2.4 billion in the quarter [5] Strategic Focus - The company is focusing on cost-saving measures, operational efficiency, and cash flow optimization amid global economic uncertainties [6][7] - Progress is being made towards sustainability targets, including a 55% reduction in CO2 emissions [8] Leadership Changes - Glen Instone has been appointed as the new CEO of Husqvarna Group, effective August 11, 2025 [2]