The Q3 22 was disappointing. Organic sales increased by only +1% due to lower sales at Gardena (-20%) and in the Construction business (-2%). Gardena was impacted by the reduction of inventory at retailers and the Construction division was affected by disruption in the supply chain. The reported operating margin decreased to 4.5% of sales (-4.6pts yoy) due lower volume. A reorganisation programme has been implemented to boost future growth (investment in fast-growing products, exit of petrol-pow ....
21 Oct 2022
Weakness in Q3 22, further transformation ahead
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Weakness in Q3 22, further transformation ahead
- Published:
21 Oct 2022 -
Author:
Hélène Coumes -
Pages:
3
The Q3 22 was disappointing. Organic sales increased by only +1% due to lower sales at Gardena (-20%) and in the Construction business (-2%). Gardena was impacted by the reduction of inventory at retailers and the Construction division was affected by disruption in the supply chain. The reported operating margin decreased to 4.5% of sales (-4.6pts yoy) due lower volume. A reorganisation programme has been implemented to boost future growth (investment in fast-growing products, exit of petrol-pow ....