Husqvarna AB Q3 2021 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Johan Eliason - Kepler Cheuvreux, Research Division - Analyst : Congratulations to a good quarter. I just thought we could return to the other part of your business, the handheld business. You mentioned double-digit growth here for the professional handheld in the quarter. Is there a specific reason? Is there a new product being launched? Or is it a market that have done well? What's sort of the reason for that growth in what I understand is sort of more of a stable business over the years?

Question: Johan Eliason - Kepler Cheuvreux, Research Division - Analyst : And these products, are they in any meaningful way battery-driven products these days?

Question: Johan Eliason - Kepler Cheuvreux, Research Division - Analyst : And then the size of those 2 segments, how would you compare them?

Question: Johan Eliason - Kepler Cheuvreux, Research Division - Analyst : Good. Then I go back to your robotics and battery handheld, which you claim is now 18% of rolling 12-month turnover. I get that to be around SEK 8 billion. Now I think you have sort of indicated historically that the consumer robotics market is somewhere SEK 7 billion, SEK 8 billion or so. And I suppose you don't have 100% of the consumer robotics market. So that leaves either a very big chunk of professional robots in that number or a big chunk of battery handhelds. Is that correct? Or where am I going wrong?

Question: Johan Eliason - Kepler Cheuvreux, Research Division - Analyst : Okay. Good. Then I was just wondering on the placings and the price discussions you're having with the big retailers right now on the sort of retail distribution channel. Are you happy with it? Are you getting through what you need also for the upcoming season where I guess the raw material headwinds will be even more significant?

Question: Johan Eliason - Kepler Cheuvreux, Research Division - Analyst : And you are satisfied with your placings in general for the season as well?

Question: Fredrik Moregard - Pareto Securities AS, Research Division - Analyst : So just a question on Gardena on my side. I mean 5% organic growth this year on top of a very strong Q3 last year. Could you shed some light on the -- on what is driving that growth? Is it you guys adding more channels, expanding to additional markets? Or are you actually growing year-over-year on sort of the same customer base you had last year?

Question: Fredrik Moregard - Pareto Securities AS, Research Division - Analyst : All right. Is there any chance to size these buckets up against each other? Which one is the main contributor as opposed to the other ones being perhaps a bit smaller? Glen Instone - Husqvarna AB (publ) - CFO, Acting President Husqvarna Division and Senior VP of Finance, IR & Communication It would be the geo expansion aspect beyond the core markets where we're getting the main growth in the division.