Interim report January - September 2023

A weak quarter with low profitability – action program initiated

JULY - SEPTEMBER 2023

• Net sales amounted to SEK 304.2 million (317.0).

• Net sales decreased by 4 percent (+8).

• Operating profit amounted to SEK 5.3 million (37.4).

• The operating margin amounted to 1.7 percent (11.8).

• Profit after tax amounted to -9.4 MSEK (26.6).

• Earnings per share amounted to SEK -0.19 (0.53).
   

JANUARY - SEPTEMBER 2023

• Net sales amounted to SEK 1,060.4 million (1,048.7).

• Net sales increased by 1 percent (13).

• Operating profit amounted to SEK 51.2 million (143.8).

• The operating margin amounted to 4.8 percent (13.7).

• Profit after tax amounted to SEK 31.3 million (113.6).

• Earnings per share amounted to SEK 0.63 (2.27).
   

SIGNIFICANT EVENTS DURING THE QUARTER

• A framework agreement was signed with E.ON Drive Infrastructure regarding products and solutions for public charging in Europe.

• GARO Entity Pro has undergone approved third-party certification (Tüv Syd, Germany) according to international charging standards.

• Several products within GARO E-mobility are now approved according to the Eichrecht standard and available for sale on the German market.

• During September, a measure and efficiency program was started, which, among other things, results in approx. 45 positions being phased out within the group.

Read the full report here.  

For more information, please contact:
Patrik Andersson, CEO: +46 (0)76 148 44 44
Helena Claesson, CFO: +46 (0)70 676 07 50

This information is information that GARO AB is obliged to make public according to the EU's market abuse regulation. The information was submitted, through the care of the above contact person, for publication on November 10, 2023 at 08.30.