Garo Aktiebolag (publ) (GARO) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome everyone to Garo's Q2 presentation. I am Jonas Claren, CEO, and it's great to be here today. With me is Helena Claesson, CFO, who will walk you through the financials later. But let's start with the key highlights for the quarter. Next slide, please. Operation and highlights. I want to start by emphasizing that Team Garo continues to move from structure to execution. We have a clear direction and an increased operational pace. Garo electrification, growth areas. We see continued volume growth and a strong performance in Ireland and the UK, alongside early signs of stabilization in Norway. Stable demand. Demand in commercial, public, and renovation projects remains stable. Challenges. However, the Swedish residential construction market remains weak, and the segment continues to face pressure. Improvements. Outside Sweden, margins are improving in several markets, and we are focusing on expanding our product portfolio to reach new market segments. Outlook. The outlook remains stable with continued discipline on margins. Garo Immobility. Headwinds. The market remains challenging, particularly in Sweden and Germany, with delayed investment decisions. Actions. We have completed cost reduction measures, optimized inventory, and shifted to a more focused go-to-market strategy. Sales drivers. AC destination solutions are returning to growth, and sales of our Garo entity platform are going in the right direction. Progress. We have signed strategic framework agreements for a larger infra project in Upland, and with us discerned municipality for both stronger market references. Outlook. The outlook is for gradual recovery in public charging, especially AC charging. Strategic focus. Leadership. On the leadership side, I have taken on an interim responsibility for e-mobi...