Garo Aktiebolag (publ) (GARO) Q1 2025 Earnings Call

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Replay transcript excerpt

WEBVTT 00:00:00.672 -- 00:00:04.436 Good afternoon, everyone, and welcome to Garo's Q1 presentation. 00:00:04.436 -- 00:00:09.401 My name is Jonas Claren, and I am the CEO of Garo since January this year. 00:00:09.401 -- 00:00:13.886 It has been an intense start, and I continue to be inspired by the strength, commitment, 00:00:13.886 -- 00:00:16.129 and spirit of our teams. 00:00:16.129 -- 00:00:21.394 I spent time in most of our countries, met the majority of our plus 400 employees, 00:00:21.394 -- 00:00:25.900 and seen firsthand both the challenges and the opportunities ahead. 00:00:25.900 -- 00:00:30.945 With me today is Helena Claesson, our CFO, who will guide you through our financial 00:00:30.945 -- 00:00:33.847 results later in the presentation. 00:00:33.847 -- 00:00:37.689 So let's get started. Next slide, please. 00:00:38.852 -- 00:00:41.814 I will begin and summarize our first quarter. 00:00:41.814 -- 00:00:44.637 First out, Garo Electrification. 00:00:44.637 -- 00:00:48.801 We see a continued growth in Ireland and Finland. 00:00:48.801 -- 00:00:54.065 At the same time, we are seeing stable demands in the public, commercial, and renovation 00:00:54.065 -- 00:00:56.065 sectors. 00:00:56.090 -- 00:00:59.894 the Nordic residential construction market remains weak. 00:00:59.894 -- 00:01:05.039 We continue to focus on stabilizing our sales and margins, and we are seeing 00:01:05.039 -- 00:01:10.062 early signs of recovery in certain housing-related segments. 00:01:10.184 -- 00:01:15.249 In Garo e-mobility, the market remains challenging with the weak momentum and the 00:01:15.249 -- 00:01:20.434 delayed investments. But our action program is starting to show results, 00:01:20.434 -- 00:01:24.220 and with costs coming down and improved cash flow. 00:01:24.220 -- ...