Garo Aktiebolag Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 10, 2023 at 02:30 am EST
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Garo Aktiebolag (publ) reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was SEK 304.2 million compared to SEK 317 million a year ago. Revenue was SEK 305.9 million compared to SEK 317.3 million a year ago. Net loss was SEK 9.4 million compared to net income of SEK 26.6 million a year ago. Basic loss per share from continuing operations was SEK 0.19 compared to basic earnings per share from continuing operations of SEK 0.53 a year ago.
For the nine months, sales was SEK 1,060.4 million compared to SEK 1,048.7 million a year ago. Revenue was SEK 1,063.1 million compared to SEK 1,050 million a year ago. Net income was SEK 31.3 million compared to SEK 113.6 million a year ago. Basic earnings per share from continuing operations was SEK 0.63 compared to SEK 2.27 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.
GARO AB 
