Lower sales and EBIT in the fourth quarter
GARO’s sales in the GARO E-mobility business area were weaker than expected in the fourth quarter of 2022 due to shortage of components, and earnings were also negatively impacted by a non-recurring cost due to the replacement of a technical platform in the GARO E-mobility business area. In its interim report for the third quarter, GARO assessed that net sales for the fourth quarter would be in line with or just below the year-earlier quarter. Delivery capacity in GARO E-mobility remained problematic in the fourth quarter. At the same time, the performance of GARO Electrification is