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  • Helena Claesson

    CFO


    +46 (0)370 33 28 03

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    Interim report January - September 2025

    Stronger cashflow and continued focus on path towards sustained recovery JULY - SEPTEMBER 2025 · Net sales amounted to MSEK 251.3 (269.4). · Net sales declined 7 percent (-11). · Operating EBIT amounted to MSEK 2.5 (0.4). · Operating EBIT margin amounted to 1.0 percent (0.1). · EBIT amounted to MSEK -1.6 (-48.0) · Cash flow from operating activities amounted to MSEK 11.0 (-20.1). · Net income was MSEK –4.5 (-41.9). · Earnings per share amounted to SEK -0.09 (-0.84). JANUARY - SEPTEMBER 2025 · Net sales amounted to MSEK 782.5 (868.3). · Net sales

    Jonas Klarén will leave his position as President and CEO of GARO at the end of January 2026

    Jonas Klarén has resigned from GARO as he has been offered a position as CEO of Assemblin El. Jonas will remain in his position as President and CEO of GARO until the end of January 2026 and thereafter assist with the handover to the new CEO.   "I love GARO and have really appreciated the time and colleagues at GARO. I see great potential for GARO to continue growing within power supply and electrification in the coming years. But sometimes it happens that you get an offer that simply cannot be refused, no matter how difficult the decision is," says Jonas Klarén.   "As

    Group Management acquires warrants in GARO

    As of September 1, members of Group Management have acquired a total of 225,000 warrants in GARO AB. Joe Ree, COO and Paul Fox, CTO have acquired 100,000 warrants each, and Helena Claesson, CFO has acquired 25,000 warrants.   The acquisition of the warrants has been made in accordance with GARO's warrant program 2025/2028 resolved at the annual general meeting on May 14 and at market value calculated by independent valuation agencies. The price of the warrant has been set at SEK 3.95.   Each warrant entitles the holder to subscribe for one (1) new ordinary share in GARO no

    Interim report January - June 2025

    From structure to implementation – Group Management strengthened, accelerating the pace of operational activities   APRIL - JUNE 2025 •         Net sales amounted to MSEK 266.5 (306.3). •         Net sales declined 13% (-21). •         Operating EBIT amounted to MSEK 1.0 (-4.3). •         The operating EBIT margin amounted to 0.4% (-1.4). •         Cash flow from operating activities amounted to MSEK 9.4 (-9.3). •         Net income was MSEK -8.6 (-8.9). •         Earnings per share amounted to SEK -0.17 (-0.18). JANUARY - JUNE 2025 •         Net sales

    Presentation of the interim report January - June 2025 on August 22

    GARO will publish its report for the second quarter 2025 at 08.30 CET on August 22   Conference call at 09.30 CET The company will host a conference call at 09.30 CET the same day. The conference will be hosted by Jonas Klarén, President & CEO and Helena Claesson, Chief Financial Officer.   Dial in numbers: Sweden:                               +46 10 884 80 16 International:                        Dail in numbers  ID number (access code):    43 44 51   The presentation material will be published

    Niklas Rönnäng leaves GARO E-mobility

    Niklas Rönnäng has decided to step down from his role as Head of GARO E-mobility. CEO Jonas Klarén will temporarily assume responsibility for the GARO E-mobility business area.   In connection with Niklas Rönnäng, responsible for GARO E-mobility, leaving his position for other assignments, GARO is making an organizational change. Daniel Emilsson, Business Area Manager for GARO Electrification, will also take the role as Country Director Sweden with the task of develop and advance a more integrated and market-oriented sales organization.   To further streamline and simplify the

    Resolutions at GARO Aktiebolag’s Annual General Meeting 2025

    The Annual General Meeting approved the presented income statements and balance sheets and remuneration report and approved discharge from liability for board members and the managing director. In addition, the following decisions were made.   Election of Board of Directors Rickard Blomqvist, Martin Althén, Johan Paulsson and Lars Kongstad were re-elected as board members and Kristine Lindberg and Axel Barnekow Widmark were elected as new board members. Axel Barnekow Widmark was elected as Chairperson of the board.   Fees to the Board of Directors It was resolved that

    GARO strengthens Group Management and appoints new COO, CTO and CHRO

    GARO AB strengthens Group Management by appointing three key employees to the roles of Chief Operating Officer (COO), Chief Technology Officer (CTO) and Chief Human Resources Officer (CHRO). The aim is to create a stronger international business focus, and to further increase the pace of operational activities, technological development and long-term culture and competence building within the Group.   Joe Ree, Chief Operating Officer (COO)Joe Ree has been CEO of GARO Ireland since 1989 and has contributed greatly to GARO's strong market position and growth in Ireland. Joe has

    Notice to the Annual General Meeting in GARO Aktiebolag (publ)

    The shareholders of GARO Aktiebolag (publ) (“GARO” or the “Company”), Reg. No. 556051-7772, are hereby invited to attend the Annual General Meeting (the “AGM”) to be held at 5 p.m. CEST on 14 May 2025 at the Company’s premises on Järnvägsgatan 35 in Hillerstorp, Sweden. Registration will commence at 4 p.m. CEST.     A. RIGHT TO PARTICIPATE IN THE AGM  A person who wishes to participate in the AGM must:   firstly, be listed as a shareholder in the presentation of the share register prepared by Euroclear Sweden AB concerning the circumstances on 6 May 2025, and

    Year-end report 2024

    Improved cashflow and the Group’s EBIT turned positive in the fourth quarter   OCTOBER – DECEMBER 2024 · Net sales amounted to MSEK 283.8 (311.2). · Net sales declined -9% (-9). · Adjusted EBIT amounted to MSEK 3.3 (-8.3). · The adjusted EBIT margin amounted to 1.2% (-2.7). · EBIT amounted to MSEK 3.3 (-0.1). · Net income was MSEK -1.3 (0.1). · Loss per share amounted to SEK -0.03 (0).   JANUARY – DECEMBER 2024 · Net sales amounted to MSEK 1,152.0 (1,369.9). · Net sales declined 16% (-1). · Adjusted EBIT amounted to MSEK -7.2 (42.9). · The

    Presentation of the full year-report 2024 on February 21

    GARO will publish its full year-report 2024 at 08.30 CET on February 21th.   Conference call at 9.30 CET The company will host a conference call at 9.30 CET the same day. The conference will be hosted by Jonas Klarén, President & CEO and Helena Claesson, Chief Financial Officer.   Dial in numbers: Sverige: +46 (0)20089 0141Internationellt: +44  (0)207107 0613   The presentation material will be published at www.garo.se prior to the conference call. The conference will also

    Eichrecht approval for GARO Entity Pro and the production in Poland

    The wallboxes in the GARO Entity series have previously undergone third-party certification, meaning that they have been tested and approved in accordance with the international electric vehicle conductive charging system standard (IEC61851). GARO Entity Pro has now also been approved under the German “Eichrecht” calibration law, which means that the wallbox is ready to be sold in the German market for semi-public and public charging. We have also certified our factory in Poland in accordance with the Eichrecht requirements for production, calibration and internal inspections. With its

    Interim report January–September 2024

    JULY– SEPTEMBER 2024 · Net sales amounted to MSEK 269.4 (304.2). · Net sales declined 11% (-4). · Adjusted EBIT amounted to MSEK 0.4 (5.3). · The adjusted EBIT margin amounted to 0.1% (1.7). · Non-recurring impairment of MSEK 48.4 was charged to EBIT. · Net income was MSEK -41.9 (-9.4). · Loss per share amounted to SEK -0.84 (-0.19).   JANUARY– SEPTEMBER 2024 · Net sales amounted to MSEK 868.3 (1,060.4). · Net sales declined 18% (+1). · Adjusted EBIT amounted to MSEK -10.5 (51.2). · The adjusted EBIT margin amounted to -1.2% (4.8). · Non-

    GARO recruits Jonas Klarén as new President and CEO

    GARO has recruited Jonas Klarén as its new President and CEO. Jonas Klarén’s most recent position was as CEO of Infratek Sverige AB, which is part of the French VINCI Group, listed on the Paris Stock Exchange. Jonas has extensive experience from the energy and power supply industry and has successfully developed Infratek within VINCI Energies. He also worked at ABB earlier in his career and he holds an M.Sc. in Electric Engineering from Chalmers University of Technology in Gothenburg. Jonas will assume his position as President and CEO as soon as possible, but in six months at the latest.

    Presentation of the interim report January - September 2024 on November 15

    GARO will publish its report for the third quarter 2024 at 08.30 CET on November 15.   Conference call at 9.30 CET The company will host a conference call at 9.30 CET the same day. The conference will be hosted by Patrik Andersson, President & CEO and Helena Claesson, Chief Financial Officer.   Dial in numbers: Sweden: +46 (0)20 089 0141International: +44 (0)207 107 06 13   The presentation material will be published at www.garo.se prior to the conference call. The conference will also be audio webcasted in “listen-only” mode at the GARO website www.garo.

    INTERIM REPORT JANUARY - MARCH 2021

    JANUARY - MARCH 2021 ·   Net sales amounted to MSEK 290.6 (248.3). ·   Growth was 17% (0). ·   EBIT amounted to MSEK 45.9 (18.8). ·   EBIT margin amounted to 15.8% (7.6). ·   Net income was MSEK 38.3 (14.6). ·   Earnings per share1 amounted to SEK 3.83 (1.46).  CEO PATRIK ANDERSSON: STRONG GROWTH AND HIGH MARGINThe first quarter of 2021 has been characterized by high activity. Net sales rose 17% and amounted to MSEK 290.6, driven by strong performance in the GARO Sweden business area and performance in line with the preceding year for the GARO International

    YEAR-END REPORT 2020

    (Year-end report January-December 2020 is distributed as an appendix to this press release) OCTOBER – DECEMBER 2020 · Net sales amounted to MSEK 306.3 (277.8). · EBIT amounted to MSEK 49.5 (35.9). · EBIT margin amounted to 16.2% (12.9). · Net income was MSEK 34.4 (24.6). · Earnings per share[1] amounted to SEK 3.44 (2.46). JANUARY – DECEMBER 2020 · Net sales amounted to MSEK 1,039.8 (1,008.1). · EBIT amounted to MSEK 136.2 (112.6). · EBIT margin amounted to 13.1% (11.2). · Net income was MSEK 95.3 (85.7). · Earnings per share[1] amounted to SEK 9.53 (

    Interim report January-June 2020

    Press release 27 August 2020APRIL–JUNE 2020 · Net sales amounted to MSEK 238.3 (247.3). · EBIT amounted to MSEK 30.3 (24.0). · EBIT margin amounted to 12.7% (9.7). · Net income was MSEK 18.1 (18.4). · Earnings per share, before and after dilution, amounted to SEK 1.81 (1.84). JANUARY–JUNE 2020 · Net sales amounted to MSEK 486.6 (496.1). · EBIT amounted to MSEK 49.1 (53.1). · EBIT margin amounted to 10.1% (10.7). · Net income was MSEK 32.6 (43.3). · Earnings per share, before and after dilution, amounted to SEK 3.26 (4.33). SIGNIFICANT EVENTS DURING

    YEAR END REPORT 2019

    OCTOBER–DECEMBER 2019 · Net sales increased 4% to MSEK 277.8 (268.4). · EBIT amounted to MSEK 35.9 (37.5). · EBIT margin amounted to 12.9% (14.0). · Net income was MSEK 24.6 (25.5). · Earnings per share, before and after dilution, amounted to SEK 2.46 (2.55). JANUARY–DECEMBER 2019 · Net sales increased 12% to MSEK 1,008.1 (903.7). · EBIT amounted to MSEK 112.6 (113.8). · EBIT margin amounted to 11.2% (12.6). · Net income was MSEK 85.7 (82.7). · Earnings per share, before and after dilution, amounted to SEK 8.57 (8.27). · The Board proposes a dividend

    GARO launches new in-house developed fastcharger

    GARO is now launching a new fastcharger, developed in-house in Sweden for the European market. GARO Fast Charger is characterized by its user-friendliness, reliability and sustainability. With this new product, GARO is expanding its range of in-house charger products, and meets the high demand for short-stop quick charging.The need to charge on the road is increasing substantially, and GARO wishes to facilitate simple, quick and secure charging for the growing need of charging for longer stretches. GARO Fast Charger can charge all types of electric cars that are available on the market. “

    INTERIM REPORT JULY – SEPTEMBER 2019

    (Interim report July - September 2019 is distributed as an appendix to this press release)  JULY–SEPTEMBER 2019 · Net sales increased 11% to MSEK 235.2 (212.7). · EBIT amounted to MSEK 23.6 (28.4). · EBIT margin amounted to 10.1% (13.4). · Net income was MSEK17.9 (22.7). · Earnings per share, before and after dilution, amounted to SEK 1.79 (2.27). JANUARY–SEPTEMBER 2019 · Net sales increased 15% to MSEK 730.3 (633.9). · EBIT amounted to MSEK 76.8 (76.4). · Net income was MSEK 61.2 (57.2). · Earnings per share, before and after dilution, amounted to SEK 6.

    GARO signs agreement with Vattenfall for delivery of charging boxes in Europe

    GARO has today signed a framework agreement with the energy company Vattenfall regarding delivery of the smart charging box GLB+. The agreement covers Norway, the Netherlands, the UK and Sweden, which are strategically important markets for GARO. The framework agreement runs for 18 months, after which it can be extended for up to two more years. “Vattenfall has ambitious plans to continue enabling the transition to electric powered transport by steadily growing with partners and expanding the charging infrastructure in northwestern Europe. As one of the leading manufacturers of charging

    Interim report April - June 2019

    (Interim report April - June 2019 is distributed as an appendix to this press release)  APRIL–JUNE 2019 · Net sales increased 15% to MSEK 246.7 (214.2). · EBIT rose 5% to MSEK 24.0 (22.8). · EBIT margin amounted to 9.7% (10.6). · Net income was MSEK 18.4 (15.4).  · Earnings per share, before and after dilution, amounted to SEK 1.84 (1.54). JANUARY–JUNE 2019 · Net sales increased 18% to MSEK 495.1 (421.2). · EBIT rose 11% to MSEK 53.1 (47.9). · Net income was MSEK 43.3 (34.5). · Earnings per share, before and after dilution, amounted to SEK 4.33 (3.45).

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