Q1 2025 Garo AB Earnings Call Transcript

May 14, 2025 / 01:00 PM GMT

Release Date Price: €2.01 (+2.55%)

Transcript

Key Points

Positve

GARO AB (LTS:0REY) reported stable demand in the public, commercial, and renovation sectors, with growth in Ireland and Finland.
The company has seen early signs of recovery in certain housing-related segments.
GARO AB's action program is showing results, with costs coming down and improved cash flow.
The company has strengthened its leadership team with new key roles, enhancing integration and positioning for future growth.
GARO AB has secured several significant projects in Europe, including a public charging project in Scotland and a project with emergency services in Wales.

Negative

Net sales decreased by 9% compared to the same quarter last year, with a challenging market for charging infrastructure.
The Nordic residential construction market remains weak, impacting overall performance.
GARO AB's immobility segment experienced a negative growth of 28% compared to the same quarter last year.
The German market remains cautious, with modest sales volumes despite product certification.
The company incurred settlement costs of 2.9 million for the former President and CEO, impacting financial results.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

GARO.ST - Garo AB
Q1 2025 Garo AB Earnings Call
May 14, 2025 / 01:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good afternoon everyone and welcome to Garo's Q1 presentation. My name is Yunus Karen and I am the CEO of Garros since January this year.

It has been an intense start and I continue to be inspired by the strength, commitment, and spirit of our teams.

I spent time in most of our countries, met the majority of our plus 400 employees, and seen firsthand both the challenges and the opportunities ahead.

With me today is Helena Clawson, our CFO, who will guide you through our financial results later in the presentation.

So let's get started.

Next slide, please.

I will begin and summarize our first quarter, first out Goro electrification.

We see a continued growth in Ireland and Finland. At the same

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