Garo Aktiebolag Reports Earnings Results for the First Quarter Ended March 31, 2023
May 11, 2023 at 08:00 am EDT
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Garo Aktiebolag (publ) reported earnings results for the first quarter ended March 31, 2023. For the first quarter, the company reported sales was SEK 370.3 million compared to SEK 381.6 million a year ago. Revenue was SEK 370.9 million compared to SEK 382.2 million a year ago.
Net income was SEK 20.7 million compared to SEK 53.7 million a year ago. Basic earnings per share from continuing operations was SEK 0.41 compared to SEK 1.07 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.