Garo Aktiebolag (publ) (GARO) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome everyone to the presentation of Garo's report for Q1 2026. My name is Joe Ree and I am the acting CEO of Garo since February. I'd be surprised if any of you know me, so please allow me a short introduction. As you may have guessed, I'm not Swedish, I'm Irish, and I apologize for not being able to speak Swedish, but I did try quite a while ago and I lived here for a year. I have worked in Garo now since 1989. Became financial controller of Garo Ireland in that year. And then in 1994, I lived in Varnamo in Sweden with my wife for a year, working as the group controller. That went very successfully, but sadly failing very badly at learning Swedish. Moving back to Ireland, I was appointed CEO of Garo Ireland in 2015 and chief operating officer of Garo Group in May last year. It's an honor and a pleasure to be here today and to have the opportunity to lead Garo as acting group CEO until Tobias, our new permanent CEO, starts on June 15th. With me today is Helena Clayson, our CFO, who will walk you through our financial performance in more detail a little bit later in this presentation. Next slide, please. Let's start with some operation highlights for the quarter. Our electrification business area continues to perform steadily and remains the financial backbone of Garo. One interesting tender won by our sales team in Sweden this quarter is a five-year procurement contract worth 50 million SEK. The electrification outlook is of increasing sales, also indicated by the increasing temporary power sales we are experiencing in Sweden. which are normally a strong indication of an uplift in installation and project business. We have, as promised, conducted a review of the e-mobility business area. We will stay in this area because we see potential in it, but continue to cl...