Improved cashflow and the Group's EBIT turned positive in the fourth quarter
OCTOBER - DECEMBER 2024
- Net sales amounted to MSEK 283.8 (311.2).
- Net sales declined -9% (-9).
- Adjusted EBIT amounted to MSEK 3.3 (-8.3).
- The adjusted EBIT margin amounted to 1.2% (-2.7).
- EBIT amounted to MSEK 3.3 (-0.1).
- Net income was MSEK -1.3 (0.1).
- Loss per share amounted to SEK -0.03 (0).
JANUARY - DECEMBER 2024
- Net sales amounted to MSEK 1,152.0 (1,369.9).
- Net sales declined 16% (-1).
- Adjusted EBIT amounted to MSEK -7.2 (42.9).
- The adjusted EBIT margin amounted to -0.6% (3.1).
- EBIT amounted to MSEK -55.6 (55.1).
- Non-recurring items of MSEK 48.4 were charged to EBIT (strengthened the preceding year by MSEK 8.2).
- Net income was MSEK -60.1 (31.3).
- Loss per share amounted to SEK -1.20 (earnings: 0.63).
- The Board proposes a dividend of SEK 0 per share (0).
SIGNIFICANT EVENTS
- GARO recruited Jonas Klarén as its new President and CEO. Jonas assumed his position on January 13, 2025.
- GARO received Eichrecht approval of GARO Entity's platform and certification of its production facility in Poland for Eichrecht-compliant production
ANNUAL GENERAL MEETING
The 2025 Annual General Meeting will take place on 14 May 2025 in Hillerstorp. Please see www.garogroup.se for more information
For more information, please contact:
Jonas Klarén, CEO: +46 (0)70 765 90 34
Helena Claesson, CFO: +46 (0)70 676 07 50
This information is such information that GARO aktiebolag is obligated to publish in accordance with the EU Market Abuse Regulation. The information was published by the abovementioned contact persons on February 21, 2025 at 8:30 a.m. CET.
GARO AB (publ) Corp. Reg. No. 556071-7772 is a company that develops, manufactures and markets innovative products and systems for the electrical installations market under its own brand. GARO's customer offering is to provide complete solutions in the product areas of Electrical distribution products, E-mobility, Project business & Temporary Power with a focus on electrical safety, user-friendliness and sustainability. GARO was founded in 1939, has its head office in Gnosjö and is today an international company with operations in several countries. The company's production units in Sweden are located in Gnosjö and Hillerstorp, as well as in Szczecin, Poland. GARO is listed on Nasdaq Stockholm under the ticker name GARO. For more information, see www.garo.se
