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Year-end report January – December 2018

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Good end to the year with strong growth and improved EBIT

Fourth quarter of 2018

  • Net sales increased 13% to MSEK 268.4 (238.3).
  • EBIT rose 21% to MSEK 37.5 (31.0).
  • EBIT margin amounted to 14.0% (13.0).
  • Net income was MSEK 25.5 (26.0).
  • Earnings per share totaled SEK 2.55 (2.60).
  • The equity ratio was 52.4% (47.3).

Full-year 2018

  • Net sales increased 13% to MSEK 902.3 (796.0).
  • EBIT rose 16% to MSEK 113.8 (98.1).
  • EBIT margin amounted to 12.6% (12.3).
  • Net income was MSEK 82.7(85.6).
  • Earnings per share amounted to SEK 8.27 (8.56).
  • The Board proposes a dividend for 2018 of SEK 4.00 per share (4.00).

Significant event after the end of the period

  • The Board of Directors at GARO AB has decided to terminate Carl-Johan Dalin’s employment as Chief Executive Officer as communicated in a press release February 18. Patrik Andersson, currently sales- and marketing director, will take the role of acting CEO. A search process for a permanent CEO starts immediately.
  • Helena Claesson assumed the position of CFO of GARO AB on January 1.

 
For more information, please contact:
Stefan Jonsson, Chairman of the Board of Directors, +46 70 588 66 73
Helena Claesson, CFO: +46 70 6760750
Malin Rylander Thordén, IR Director: +46 76 894 95 96

This information is such information that GARO aktiebolag is obligated to publish in accordance with the EU Market Abuse Regulation. The information was published by the abovementioned contact persons on February 19, 2019, at 7:30 a.m. 
 

GARO develops, manufactures and supplies innovative products and systems for the electrical installations industry under its own brand. The company has operations in Sweden, Norway, Finland, Ireland and Poland, and the Group is organized in two business areas: GARO Sweden and GARO Other markets. GARO has a broad product assortment and is a market leader within several product areas. The Group had sales of approximately MSEK 902 in 2018 and has 402 employees. Its head office is located in Gnosjö. 

The business concept is “with a focus on innovation, sustainability and design, GARO provides profitable complete solutions for the electrical industry.” 

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Garo Q4 2018

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