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Edge16 Aug 2024
The Småland Spirit: How Rural Sweden Birthed Giants Like IKEA
Discover how The Småland Spirit turned a historically poor region into a hub of industrial success, spawning success stories like IKEA and Husqvarna.
Garo
Garo (GARO) investor relations material
Garo Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 earnings summary14 Aug, 2026
Executive summary
Net sales for Q2 2026 increased 2% year-over-year to SEK 272.3 million, driven by growth in Ireland and the UK, while overall profitability declined due to non-recurring costs and weaker margins.
GARO Electrification, accounting for 80% of sales, grew 5% in Q2, but EBIT margin fell due to higher costs and currency effects; GARO E-mobility sales declined 7% and remains under strategic review.
Strategic initiatives, including production consolidation, organizational changes, and subsidiary integration, are underway to improve efficiency and profitability.
New CEO Tobias Byfeldt introduced, emphasizing customer focus, operational clarity, and leveraging long-term trends in electrification and energy transition.
Financial highlights
Q2 2026 net sales: SEK 272.3 million (up 2% YoY); adjusted EBIT: SEK -17.1 million, impacted by higher costs and one-off items.
GARO Electrification sales grew 5% to SEK 215.8 million; GARO E-mobility sales declined 7% to SEK 56.5 million.
Gross margin declined due to product mix, campaigns, and currency effects.
Stable cash flow from operations, with SEK 13.3 million generated in the quarter.
Outlook and guidance
Structural changes are expected to generate annual cost savings of at least SEK 50 million, with most savings visible by year-end.
Management remains confident in Electrification's profitability improvement by autumn 2026, while E-mobility is under ongoing strategic review.
Swedish residential construction market anticipated to recover gradually during 2026.
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Latest events from Garo
- Sales fell 7% and EBIT turned negative as restructuring and cost-saving measures were launched.GARO
Q1 2026 - Sales fell 9% in 2025, with stable electrification, weak E-mobility, and negative EBIT.GAROQ4 2025
- Sales fell 7% in Q3, but cash flow and EBIT improved as Electrification stayed strong.GAROQ3 2025
- Net sales fell 13% in Q2 as cost controls and leadership changes improved EBIT and liquidity.GAROQ2 2025
- Sales and earnings dropped due to E-mobility weakness and large inventory write-downs.GAROQ3 2024
- Q2 2024 sales fell 21% with negative EBIT, but Electrification and international growth remained stable.GAROQ2 2024
- Adjusted EBIT turned positive despite 9% sales drop, with E-mobility still under pressure.GAROQ1 2025
- Q4 profitability improved despite full-year losses; efficiency and recovery expected in 2025.GAROQ4 2024
Next Garo earnings date
Q3 202613 Nov, 2026
Garo
Next Garo earnings date
Q3 202613 Nov, 2026
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Frequently asked questions
Garo develops, manufactures, and markets electrical installation products and systems in Sweden, Norway, Finland, Poland, Ireland, and the United Kingdom. The company offers socket outlets, plug connectors, switches and circuit breakers, lamps and lighting fixtures, cable trays and accessories, under floor ducts and sockets, trunking systems and accessories, junction boxes and cabinet systems.