Garo Ab · OMXSTO:GARO
Garo Ab — Garo Aktiebolag — Q1 2024 Earnings Presentation
13 slides from Garo Ab's earnings presentation, May 14, 2024
Slide 1: Q1 2024 Presentation
Q1 2024 Presentation May 14, 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 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-Mar)
Slide 5: Project Business, Electrical Distribution Products, Temporary Power
PROJECT BUSINESS Complete and fully customized solutions ready for installation. 23 % (Jan-Mar) 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 Q1 of MSEK 292.5 (370.3), decreased 21% • - 31% growth within GARO E-mobility • - 16% growth within GARO Electrification • EBIT of MSEK -6.7 (27.8) and an EBIT margin of -2.3% (7.5) • Low sales volume during the quarter compared with
Slide 7: Operational highlights
Operational highlights Challenging market conditions in Sweden – action program completed GARO E-mobility GARO Electrification Growth and profitability • The prevailing market situation • Continued weak economy and • The action and efficiency with macroeconomic uncertainty high interest rates – low
Slide 8: GARO E-mobility
GARO E-mobility • Net sales amounted to MSEK 84.3 (122.2), where the launch of GARO Entity in 2023 gives challenging comparative figures • GARO E-mobility reported sales growth of 15% outside the Nordic region for the quarter • EBIT amounted to MSEK -23.6 (6.6) • Low sales, a weaker gross margin wit
Slide 9: GARO Electrification
GARO Electrification • Net sales decreased 16% to MSEK 208.2 (248.1) • EBIT amounted to MSEK 16.9 (21.1) and the EBIT margin to 8.1% (8.5) • The efficiency program implemented during fall of 2023 has desired effect • New business system in the Group – costs were MSEK 1.5 for the quarter • Ongoing pr
Slide 10: Cash flow and balance sheet
Cash flow and balance sheet • Cash flow from operating activities before changes in working capital amounted to SEK +8.4 million (+25.4) • Cash flow from operating activities after changes in working capital amounted to SEK -43.8 million (-46.6). • Net debt of MSEK 277,9 (245,6) • Available liquidit
Slide 11: Outlook
Outlook • The market, which slowed for both business areas at the end of 2023, is cautious and will remain so. • Sales outside the Nordic region showed slight growth, which supports our investment in Germany, which we entered at the end of 2023. This also supports the company’s commenced establishme
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