GARO Electrification reports growth and improved profitability – GARO Entity product family to be discontinued.
JULY - SEPTEMBER 2026
• Net sales amounted to MSEK 265.9 (251.3).
• Net sales increased 6% (-7).
• Operating EBIT amounted to MSEK 9.9 (2.5).
• Operating EBIT margin amounted to 3.8% (1.0).
• Non-recurring impairment of MSEK 111.3 was charged to EBIT.
• EBIT amounted to MSEK -105.8 (-1.6).
• Cash flow from operating activities amounted to MSEK -10.8 (11.0).
• Net income was MSEK -100.0 (-4.5).
• Earnings per share2 amounted to SEK -2.0 (-0.09).
JANUARY - SEPTEMBER 2026
• Net sales amounted to MSEK 784.4 (782.5).
• Net sales increased 0% (-10).
• Operating EBIT amounted to MSEK -20.5 (3.8).
• Operating EBIT margin amounted to -2.6% (0.5).
• Non-recurring impairment of MSEK 111.3 was charged to EBIT.
• EBIT amounted to MSEK –142.6 (-3.1).
• Cash flow from operating activities amounted to MSEK -5.0 (20.7).
• Net income was MSEK -137.6 (-13.0).
• Earnings per share amounted to SEK -2.75 (-0.26).
SIGNIFICANT EVENTS DURING AND AFTER THE QUARTER
• In July, Tobias Byfeldt acquired 400,000 warrants in GARO.
• In October, GARO decided to discontinue the GARO Entity product family and intensify focus on Electrification (see separate press release).
• GARO is relocating production from Poland to Gnosjö/Hillerstorp to consolidate and streamline operations, with the goal of being complete by December 2026 (see the separate press release).
• Non-cash impairment of MSEK 111.3 pertaining to the decision to discontinue the GARO Entity product family.