Garo Aktiebolag Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 21, 2024 at 02:30 am EST
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Garo Aktiebolag (publ) reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was SEK 311.2 million compared to SEK 341.8 million a year ago. Revenue was SEK 330.5 million compared to SEK 342 million a year ago. Net income was SEK 0.1 million compared to SEK 7 million a year ago.
For the full year, sales was SEK 1,369.9 million compared to SEK 1,390.5 million a year ago. Revenue was SEK 1,391.6 million compared to SEK 1,391.9 million a year ago. Net income was SEK 31.3 million compared to SEK 120.5 million a year ago. Basic earnings per share from continuing operations was SEK 0.63 compared to SEK 2.41 a year ago.
Garo AB is a Sweden-based company, which is primarily engaged in the electrical installations industry. The Company offers a wide range of electrical products, such as plugs and sockets, switches, switchboards GCS, switchboard systems GPK, cable boxes, bottom boxes, terminals, junction boxes, aluminum enclosures, IT cabinets, meter cabinets, meter boards, consumer units, din rail components, switchgears, outletboxes, sunenergyproducts, workplace lighting, distribution boards, EV-charges, marina pedestals, residual current devices, safety isolators, circuit breakers, among others. The Company operates through a number of subsidiaries in such countries, as Finland, Norway, Ireland, Poland, among others. The Company operates WEB-EL Forsaljning AB as subsidiary.