Interim Report January - September 2023
A weak quarter with low profitability – action program launched
JULY–SEPTEMBER 2023
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Net sales amounted to MSEK 304.2 (317.0).
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Net sales declined 4% (+8).
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EBIT amounted to MSEK 5.3 (37.4).
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Net income was MSEK -9.4 (26.6).
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Earnings per share amounted to SEK -0.19 (0.53).
JANUARY–SEPTEMBER 2023
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Net sales amounted to MSEK 1,060.4 (1,048.7).
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Net sales increased 1% (13).
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EBIT amounted to MSEK 51.2 (143.8).
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EBIT margin amounted to 4.8% (13.7).
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Net income was MSEK 31.3 (113.6).
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Earnings per share amounted to SEK 0.63 (2.27).
SIGNIFICANT EVENTS DURING THE QUARTER
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Framework agreement signed with E.ON Drive Infrastructure covering products and solutions for public charging in Europe.
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GARO Entity Pro has completed approved third-party certification (Tüv Syd, Germany) pursuant to international charging standards.
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Several GARO E-mobility products are now approved according to Germany’s Eichrecht calibration law and available for sale on the German market.
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In September, an action and efficiency program was launched leading to approximately 45 redundancies in the Group.
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 such information that GARO AB is obligated to publish in accordance with the EU Market Abuse Regulation. The information was published by the abovementioned contact persons on November 10, 2023, at 8:30 a.m. CET.