GARO to adapt its organization in light of prevailing market conditions and report sales and preliminary EBIT for the fourth quarter of 2023
In its interim report for the third quarter, GARO announced that net sales for the fourth quarter were predicted to be in line with the year-earlier quarter. GARO E-mobility reported growth of 16%, while GARO Electrification declined 17% compared with the year-earlier quarter. All in all, this results in net sales for the fourth quarter amounting to approximately MSEK 311 (341). “Net sales were mainly negatively impacted during the end of the quarter. The prevailing market situation with macroeconomic uncertainty has impacted purchasing patterns and investment decisions. Sales of new