Garo: New products coming up - ABG

We lower EBIT by 8-2% for ’22e-’24e
Component shortages are still an issue
New system and products to be launched in Q4


Q3’22 results

GARO reported group sales of SEK 317m, fairly in line with our expectations (-1% vs. ABGSCe SEK 321m), and group EBIT of SEK 37m. E-mobility continues to be affected by component shortages, resulting in sales of SEK 92m and EBIT of SEK 0m (ABSGCe SEK 10m). Electrification contributed sales of SEK 225m (2% above our forecast of SEK 221m), up 11% y-o-y despite a softer construction market, and EBIT of SEK 37m. All in all, this resulted in a net profit for the group of SEK 27m (ABGSCe SEK 31m).

Länk till analysen i sin helhet: https://cr.abgsc.com/foretag/Garo/Equity-research/2022/11/garo---new-products-coming-up/