Q3 21 was good despite the tough comparative last year. Organic sales grew by +6% and the operating margin decreased to 9.1% of sales (-1.3pt) due to fewer watering products at Gardena and the integration of Blastrac. The inventory of components has been increased to secure the start to the 2022 season and the group’s policy is to offset higher raw material and logistic costs by price increases. A good Q1 22 is expected considering the low inventories at retailers.

20 Oct 2021
Good Q3 21 despite a tough comparative

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Good Q3 21 despite a tough comparative
- Published:
20 Oct 2021 -
Author:
Hélène Coumes -
Pages:
3 -
Q3 21 was good despite the tough comparative last year. Organic sales grew by +6% and the operating margin decreased to 9.1% of sales (-1.3pt) due to fewer watering products at Gardena and the integration of Blastrac. The inventory of components has been increased to secure the start to the 2022 season and the group’s policy is to offset higher raw material and logistic costs by price increases. A good Q1 22 is expected considering the low inventories at retailers.