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).
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