Sweden · Delayed Price · Currency is SEK Garo Aktiebolag Earnings Call Transcripts
Fiscal Year 2026
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Q1 2026 saw a 7% sales decline and negative EBIT, with Electrification stable and E-mobility down 26%. Strategic restructuring, ERP investment, and cost-saving measures are expected to drive future growth and profitability.
Fiscal Year 2025
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Q4 net sales fell 8% year-over-year, with Electrification showing resilience in Sweden but E-Mobility sales declining 21%. EBIT was negative, impacted by non-recurring costs and weak E-Mobility, but cash flow and net debt improved. Outlook for 2026 is more positive.
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Q3 saw steady improvement with stable Electrification performance and ongoing E-mobility challenges. Net sales fell 7% year-over-year, but adjusted EBIT improved. The company is focusing on operational efficiency, inventory reduction, and preparing for a market upturn.
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Q2 net sales fell 13% year-over-year, with strong international Electrification offset by weak Swedish residential and E-Mobility markets. Cost controls and integration efforts improved EBIT and cash flow, while strategic contracts and leadership changes position the group for recovery.
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Q1 2025 saw net sales fall 9% year-over-year to SEK 265 million, with Electrification stable but E-mobility down 28%. Cost reductions and leadership changes improved EBIT and cash flow, while long-term growth drivers remain strong despite ongoing market challenges.
Fiscal Year 2024
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Q4 2025 net sales fell 9% year-over-year, with Electrification growing 2% and E-mobility down 33%. Adjusted operating profit improved to SEK 3 million, but full-year results were impacted by inventory write-downs. Gradual market recovery is expected in 2025.
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Q3 2024 net sales fell 11% year-over-year, with E-Mobility down 26% and Electrification down 4%. SEK 48 million in inventory write-downs led to a negative operating profit, but cost-saving actions and new product launches position the company for gradual recovery in 2025.
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Q2 2024 saw a 21% sales decline and negative operating profit, mainly due to weak E-Mobility and Nordic markets. Electrification showed stable margins, while international markets and temporary power grew. A new CEO search is underway to drive future growth.