Garo Ab · OMXSTO:GARO
Garo Ab — Garo Aktiebolag — Q2 2024 Earnings Presentation
14 slides from Garo Ab's earnings presentation, Aug 16, 2024
Slide 1: Q2 2024 Presentation
Q2 2024 Presentation August 16, 2024 Patrik Andersson, CEO Helena Claesson, CFO
Slide 2: Charging the future.
Charging the future. It is our responsibility to provide a smarter and more sustainable future with innovative solutions for everyone. We are equipped with the right tools to create positive change. The future is ours to create.
Slide 3: GARO's footprint
GARO’s Norway Finland Lier Helsinki • Sales office • Sales office footprint United Kingdom Birmingham • Sales office Sweden Gnosjö • Head office • Sales office Ireland • Support & Service Dublin E-mobility, • Sales office • Production of Electrical distribution Northern Ireland products & Project bu
Slide 4: E-mobility and Destination Chargers
E-MOBILITY DESTINATION CHARGERS All types of vehicle chargers – Full service solutions at home chargers to fast home, workplaces and in chargers. public places. 29 % (Jan–Jun)
Slide 5: Project business, electrical distribution and temporary power
PROJECT BUSINESS Complete and fully customized solutions ready for installation. 23 % (Jan–Jun) ELECTRICAL DISTRIBUTION PRODUCTS TEMPORARY POWER 3,500 products and turnkey solutions for the electrical Temporary electricity, lighting installation market. and heating for construction sites. 45 % (Jan–
Slide 6: Financial highlights
Byt bild – man ser inte laddaren Financial highlights • Net sales Q2 of MSEK 306.3 (386.0), decreased 21% • 45% decrease within GARO E-mobility • 5% decrease within GARO Electrification • Lower sales volumes during the quarter compared with the same quarter of 2023 • GARO E-mobility continues to hav
Slide 7: Operational highlights
Operational highlights GARO Electrification reports a stable quarter while GARO E-mobility continues to face challenging market conditions GARO E-mobility GARO Electrification Growth and profitability • Macroeconomic uncertainty • Continued weak economy and • The efficiency program continues to impa
Slide 8: GARO E-mobility
GARO E-mobility • Net sales amounted to MSEK 84.4 (152.1) • Large deliveries of public chargers year last year gives challenging comparative sales for the business area • GARO E-mobility reported sales growth of 3% outside the Nordic region for the quarter • EBIT amounted to MSEK -24.7 (4.5) • Low s
Slide 9: GARO Electrification
GARO Electrification • Net sales amounted to MSEK 221.9 (233.9) • EBIT amounted to MSEK 20.4 (13.7) and the EBIT margin to 9.2 % (5.8) • The efficiency program implemented during fall of 2023 has desired effect • Two major orders won for engine heaters for northern Sweden, with expected delivery in
Slide 10: Cash flow and balance sheet
Cash flow and balance sheet • Cash flow from operating activities before changes in working capital amounted to MSEK -1.7 (26.0) • Cash flow from operating activities after changes in working capital amounted to MSEK -9.3 (-3.5) • Net debt of MSEK 293.2 (308.6) • Available liquidity including unutil
Slide 11: Outlook
Outlook • The recovery of the E-mobility market is proceeding slower than expected, particularly in Sweden • However, our long-term vision for the EV charging market remains unchanged – a major transition to electric vehicles • Housing construction in the Nordic region has declined considerably over
Slide 12: GARO starts recruitment of a new CEO
Press release August 16, 2024 GARO starts recruitment of a new CEO. Patrik Andersson will remain CEO until his replacement takes up the position The recruitment of a new CEO has started and the aim is to announce the appointment of a successor during the autumn, with an expected start in the first q
Slide 13: Q&A
Q&A
Slide 14: GARO
GARO