Garo Aktiebolag (publ) provided earnings guidance for the fourth quarter of 2023. For the quarter, the company net sales for the fourth quarter were predicted to be in line with the year-earlier quarter. GARO E-mobility reported growth of 16%, while GARO Electrification declined 17% compared with the year-earlier quarter.

All in all, this results in net sales for the fourth quarter amounting to approximately SEK 311 Million compared to SEK 341 Million. GARO's EBIT for the fourth quarter is expected to amount to approximately MSEK 0 (9). EBIT was charged with non-recurring costs of about SEK 10 Million as the result of the impairment of the inventory of residual components in the GARO E-mobility business area.

At the same time, EBIT includes non-recurring income of about SEK 18 Million related to the divestment of industry properties.