Garo Logo

Garo

ISIN: SE0015812417 | Ticker: GARO | LEI: 549300RKWROUEEV6VP74
Country: Sweden

About Garo

Company Description

GARO is a company that develops, manufactures and markets innovative products and systems for electrical installations under its own brand in the European market. In its four product areas of Electrical distribution products, E-mobility, Project business and Temporary Power, the Group supplies products and complete solutions with a focus on electrical safety, user-friendliness and sustainability. GARO is the market leader in the Nordic region in several product categories within Electrical distribution products and E-mobility.

Operations are divided into two business areas: GARO Sweden and GARO International. The business areas GARO Electrification and GARO E-mobility replaced the former business areas on January 1, 2022. The Group has sales companies in six countries: Sweden, Norway, Finland, Ireland, the UK and Poland. Group external exports are made from business area GARO Sweden to other countries.

Year founded

1939

Served area

Europe

Headquarters

Södergatan 26, 33533 Gnosjö – Sweden

Financial statements

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Line item in (sek) 01.01.2020 01.01.2021 01.01.2022 01.01.2023
Assets N/A 743,300,000.00 936,900,000.00 1,153,500,000.00
Noncurrent Assets N/A 240,200,000.00 255,400,000.00 401,200,000.00
Land And Buildings N/A 67,400,000.00 67,600,000.00 84,300,000.00
Machinery N/A 1,800,000.00 1,600,000.00 2,600,000.00
Fixtures And Fittings N/A 26,400,000.00 33,900,000.00 33,000,000.00
Construction In Progress N/A 6,300,000.00 4,400,000.00 69,800,000.00
Goodwill N/A 45,500,000.00 45,500,000.00 45,500,000.00
Deferred Tax Assets N/A 6,200,000.00 3,200,000.00 4,100,000.00
Current Assets N/A 503,100,000.00 681,500,000.00 752,300,000.00
Raw Materials N/A 104,400,000.00 159,300,000.00 213,400,000.00
Work In Progress N/A 4,600,000.00 4,500,000.00 4,900,000.00
Finished Goods N/A 73,500,000.00 78,300,000.00 126,600,000.00
Current Trade Receivables N/A 238,600,000.00 336,000,000.00 321,100,000.00
Current Prepayments N/A N/A 12,700,000.00 13,100,000.00
Other Current Financial Assets N/A 4,500,000.00 9,100,000.00 43,700,000.00
Cash and cash equivalents 40,800,000.00 69,400,000.00 81,600,000.00 29,500,000.00
Equity And Liabilities N/A 743,300,000.00 936,900,000.00 1,153,500,000.00
Equity 343,000,000.00 430,300,000.00 551,500,000.00 614,100,000.00
Issued Capital N/A 20,000,000.00 20,000,000.00 20,000,000.00
Retained Earnings N/A 407,400,000.00 532,400,000.00 582,900,000.00
Other Reserves N/A 2,900,000.00 -900,000.00 9,700,000.00
Additional Paidin Capital N/A N/A 0.00 1,500,000.00
Liabilities N/A 313,000,000.00 385,400,000.00 539,400,000.00
Noncurrent Liabilities N/A 62,700,000.00 59,100,000.00 108,000,000.00
Other Longterm Provisions N/A 3,700,000.00 6,300,000.00 9,000,000.00
Deferred Tax Liabilities N/A 500,000.00 0.00 0.00
Noncurrent Portion Of Noncurrent Loans Received N/A 30,300,000.00 26,500,000.00 36,600,000.00
Current Liabilities N/A 250,300,000.00 326,300,000.00 431,400,000.00
Trade And Other Current Payables N/A 123,900,000.00 166,500,000.00 187,400,000.00
Other Current Liabilities N/A 28,600,000.00 36,800,000.00 50,600,000.00
Current Loans Received And Current Portion Of Noncurrent Loans Received N/A 4,900,000.00 2,600,000.00 52,000,000.00
Line item in (sek) 31.12.2019/
01.01.2021
01.01.2020/
01.01.2021
31.12.2020/
01.01.2022
01.01.2021/
01.01.2022
31.12.2021/
01.01.2023
01.01.2022/
01.01.2023
Revenue 1,047,800,000.00 N/A 1,298,700,000.00 N/A 1,391,900,000.00 N/A
Revenue From Contracts With Customers 1,039,800,000.00 N/A 1,295,800,000.00 N/A 1,390,500,000.00 N/A
Other Income 8,000,000.00 N/A 2,900,000.00 N/A 1,400,000.00 N/A
Other Work Performed By Entity And Capitalised N/A N/A 3,700,000.00 N/A 5,400,000.00 N/A
Raw Materials And Consumables Used 528,800,000.00 N/A 649,300,000.00 N/A 727,400,000.00 N/A
Employee Benefits Expense 232,200,000.00 N/A 265,200,000.00 N/A 306,800,000.00 N/A
Depreciation Expense 26,900,000.00 N/A 35,800,000.00 N/A 36,000,000.00 N/A
Other Expense By Nature 123,700,000.00 N/A 144,900,000.00 N/A 174,300,000.00 N/A
Profit Loss From Operating Activities 136,200,000.00 136,200,000.00 207,200,000.00 207,200,000.00 152,800,000.00 152,800,000.00
Finance Income 400,000.00 N/A 5,300,000.00 N/A 3,300,000.00 N/A
Finance Costs 13,500,000.00 N/A 4,100,000.00 N/A 2,700,000.00 N/A
Profit Loss Before Tax 123,100,000.00 N/A 208,400,000.00 N/A 153,400,000.00 N/A
Income Tax Expense Continuing Operations 27,700,000.00 N/A 41,700,000.00 N/A 32,900,000.00 N/A
Profit Loss From Continuing Operations 95,400,000.00 95,400,000.00 166,700,000.00 166,700,000.00 120,500,000.00 120,500,000.00
Line item in (sek) 01.01.2020 01.01.2021 01.01.2022 01.01.2023
Adjustments For Income Tax Expense N/A -36,900,000.00 -29,100,000.00 -33,400,000.00
Adjustments For Decrease Increase In Inventories N/A -12,000,000.00 -59,600,000.00 -102,800,000.00
Adjustments For Decrease Increase In Other Operating Receivables N/A -800,000.00 -5,900,000.00 -35,900,000.00
Adjustments For Increase Decrease In Trade Account Payable N/A 5,700,000.00 42,500,000.00 21,000,000.00
Adjustments For Increase Decrease In Other Operating Payables N/A 0.00 24,700,000.00 32,200,000.00
Adjustments For Depreciation And Amortisation Expense N/A 26,900,000.00 35,800,000.00 36,000,000.00
Other Adjustments For Noncash Items N/A 6,700,000.00 2,400,000.00 3,800,000.00
Cash Flows From Used In Operations N/A 86,900,000.00 121,700,000.00 89,200,000.00
Cash Flows Used In Obtaining Control Of Subsidiaries Or Other Businesses Classified As Investing Activities N/A 5,700,000.00 0.00 900,000.00
Purchase Of Property Plant And Equipment Classified As Investing Activities N/A 15,000,000.00 18,800,000.00 89,300,000.00
Purchase Of Intangible Assets Classified As Investing Activities N/A 24,600,000.00 26,500,000.00 30,800,000.00
Proceeds From Borrowings Classified As Financing Activities N/A N/A 0.00 63,600,000.00
Repayments Of Borrowings Classified As Financing Activities N/A 1,900,000.00 100,000.00 1,200,000.00
Payments Of Lease Liabilities Classified As Financing Activities N/A 10,800,000.00 11,700,000.00 12,000,000.00
Dividends Paid Classified As Financing Activities N/A 0.00 47,500,000.00 70,000,000.00
Cash Flows From Used In Financing Activities N/A -12,700,000.00 -65,400,000.00 -22,400,000.00
Increase (decrease) in cash and cash equivalents before effect of exchange rate changes N/A 28,900,000.00 11,900,000.00 -52,300,000.00
Effect Of Exchange Rate Changes On Cash And Cash Equivalents N/A -300,000.00 300,000.00 200,000.00
Cash and cash equivalents 40,800,000.00 69,400,000.00 81,600,000.00 29,500,000.00

Please note that some sums might not add up.

Filings & Publications

2022

Report
Q1
H1
Q3
FY
Consolidated Report
SWE
Corporate Governance Report
Company Presentation
Sustainability Report
Remuneration Report

2021

Report
Q1
H1
Q3
FY
Consolidated Report
SWE
Corporate Governance Report
Company Presentation
Sustainability Report
Remuneration Report

Insider Trades

Date Trading entity / Person Association Trade type Volume
20.11.23 Rickard Blomqvist Other Buy SEK 775,000.00
20.11.23 Rickard Blomqvist Other Buy SEK 153,950.00
19.05.23 Niklas Rönnäng Other Buy SEK 219,000.00
19.05.23 Niklas Rönnäng Other Buy SEK 9,941.40
15.05.23 Niklas Rönnäng Other Buy SEK 14,934.95
12.05.23 Rickard Blomqvist Other Buy SEK 1,629,067.55
12.05.23 Lars Kongstad Other Buy SEK 745,076.00
12.05.23 Niklas Rönnäng Other Buy SEK 222,000.00
27.03.23 Rickard Blomqvist Other Buy SEK 5,731,087.75
24.03.23 Rickard Blomqvist Other Buy SEK 16,628,424.05

Capital markets information

ISIN

SE0015812417

LEI

549300RKWROUEEV6VP74

Sector

Industrials

Industry Group

Capital Goods

Industry

Electrical Equipment

Sub-Industry

Electrical Components & Equipment

Listed Stock Exchange

Nasdaq Stockholm

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