Garo Ab · OMXSTO:GARO
Garo Ab — Garo Aktiebolag — Q3 2024 Earnings Presentation
14 slides from Garo Ab's earnings presentation, Nov 15, 2024
Slide 1: Q3 2024 Presentation
Q3 2024 Presentation November 15, 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 Drammen 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
Slide 4: E-mobility: home chargers 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. 28 % (Jan–Sep)
Slide 5: Project business, electrical distribution and temporary power
PROJECT BUSINESS Complete and fully customized solutions ready for installation. 23 % (Jan–Sep) ELECTRICAL DISTRIBUTION PRODUCTS TEMPORARY POWER 3,500 products and turnkey solutions for the electrical Temporary electricity, lighting installation market. and heating for construction sites. 46 % (Jan–
Slide 6: Financial highlights
Byt bild – man ser inte laddaren Financial highlights • Net sales for Q3 of MSEK 269.4 (304.2), down 11% • 26% decrease within GARO E-mobility • 4% decrease within GARO Electrification • Adjusted EBIT of MSEK 0.4 (5.3) giving a margin of 0,1% (1,7) • Write-down of MSEK 48 for slow-moving inventory,
Slide 7: GARO recruits Jonas Klarén as new President and CEO
GARO recruits Jonas Klarén as 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 de
Slide 8: Operational highlights
Operational highlights Another stable quarter for GARO Electrification combined with measures taken in GARO E-mobility GARO E-mobility GARO Electrification Growth and profitability • In September, it was announced that the • Macroeconomic uncertainty • New housing in the Nordic region has continues
Slide 9: GARO E-mobility
GARO E-mobility • Net sales amounted to MSEK 70.0 (94.6) • Adjusted EBIT amounted to MSEK -20.1 (-15.3) • During the quarter, GARO made a write-down of MSEK 39.3 for slow- moving inventory. • Low sales and a weaker gross margin explains the adjusted negative result Net sales, GARO E-mobility Adjuste
Slide 10: GARO Electrification
GARO Electrification • Net sales amounted to MSEK 199.4 (209.6) • GARO Ireland continued to developed strongly • Adjusted EBIT amounted to MSEK 20.5 (20.6) • During the quarter, GARO made a write-down of MSEK 9.1 for slow- moving inventory Net sales, GARO Electrification Adjusted EBIT, GARO Electrif
Slide 11: Cash flow and balance sheet
Cash flow and balance sheet • Cash flow from operating activities before changes in working capital amounted to MSEK 12.0 (-21.5) • Cash flow from operating activities after changes in working capital amounted to MSEK -20.1 (40.9) • Net debt of MSEK 318.9 (293.4) • Available liquidity including unut
Slide 12: Outlook
Outlook • The recovery of the E-mobility market is proceeding slower than expected • In the long term, we anticipate a continued good trend with further expansion of charging infrastructure • The construction of new housing in the Nordic region has declined considerably and new production is expecte
Slide 13: Q&A
Q&A
Slide 14: GARO
GARO