Interim report July-September 2022

GARO launches new product program for destination charging

JULY - SEPTEMBER 2022
• Net sales amounted to SEK 317.0 million (293.9).
• Net sales increased by 8 percent (19).
• Operating profit amounted to SEK 37.4 million (48.5).
• The operating margin amounted to 11.8 percent (16.5).
• Profit after tax amounted to SEK 26.6 million (39.4).
• Earnings per share amounted to SEK 0.53 (0.79).

JANUARY - SEPTEMBER 2022
• Net sales amounted to SEK 1,048.7 million (925.7).
• Net sales increased by 13 percent (26).
• Operating profit amounted to SEK 143.8 million (149.5).
• The operating margin amounted to 13.7 percent (16.2).
• Profit after tax amounted to SEK 113.6 million (120.3).
• Earnings per share amounted to SEK 2.27 (2.41).

EVENTS DURING AND AFTER THE QUARTER
• GARO launches at the London EV Show and at the eCar Expo in Gothenburg during week 48 a new platform for destination charging that offers products and services for villas, condominiums, commercial properties and public environments.
• The new platform means that GARO advances the positions regarding access to electronics and large-scale production through investment in a new production and logistics facility in Poland.
• Limited availability of electronic components has negatively affected the production rate within GARO E-mobility also during the third quarter, resulting in a continued very high order book.

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