Sensitivity analysis

Husqvarna's sales and earnings are impacted by numerous factors. The effects on operating income of changes in selected key factors are shown below. These are estimated effects which could occur with an isolated change in each variable.

• A change of 1% in the costs for wages, salaries and remuneration would affect operating income by approximately SEK 40m (40).
• A decline of 10 percentage points in the value of the Swedish krona against the US dollar would have an adverse effect on operating income of approximately SEK -153m*, of which SEK -217m would refer to negative effects of transactions and SEK 64m to positive translation differentials.
• A decline of 10 percentage points in the value of the Swedish krona against the euro would have a positive effect on operat-ing income of approximately SEK 315m*, of which SEK 260m would refer to effects of transactions and SEK 55m to translation differentials.
• A decline of 10 percentage points in the value of the Swedish krona against all currencies, including USD and EUR, would have a positive adverse effect on operating income of approximately SEK 656m*, of which SEK 453m would refer to effects of transactions and SEK 203m to translation differentials.
• A change of 1 percentage point in the interest rate on loans would affect net income of approximately SEK 80m (106), on the basis of outstanding loans at year-end 2008.
• An increase or decrease of 10 percentage points in the price of steel would affect operating income by -/+ SEK 208m.
• An increase or decrease of 10 percentage points in the price of aluminum would affect operating income by -/+ SEK 74m.
• An increase or decrease of 10 percentage points in the price of plastics would affect operating income by -/+ SEK 92m.