Interim report January - June 2023

Strong growth in GARO E-mobility while GARO Electrification is slowing down.

APRIL - JUNE 2023
• Net sales amounted to SEK 386.0 million (350.2).
• Net sales increased by 10 percent (3).
• Operating profit amounted to SEK 18.2 million (39.6).
• The operating margin amounted to 4.7 percent (11.3).
• Profit after tax amounted to SEK 20.1 million (33.3).
• Earnings per share amounted to SEK 0.40 (0.67).

JANUARY - JUNE 2023
• Net sales amounted to SEK 756.3 million (731.8).
• Net sales increased by 3 percent (16).
• Operating profit amounted to SEK 45.9 million (106.4).
• The operating margin amounted to 6.1 percent (14.5).
• Profit after tax amounted to SEK 40.6 million (87.1).
• Earnings per share amounted to SEK 0.81 (1.74).

SIGNIFICANT EVENTS AFTER THE END OF THE QUARTER
• Framework agreement 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. The certification shows that GARO provides the market with a safe and secure charging box.
• New production and logistics facility in Poland has been completed according to plan and put into use during the month of July.
• Most of the Polish production has been relocated from existing facilities. GARO has started the process for the sale of the existing facility.

Read the full interim 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