Brief: Garo Reports Prelim Figures, Cuts Jobs

Garo AB

30/01/2024 08:14

Jan 30 (Reuters) - Garo AB  GARO.ST :
    * TO ADAPT ITS ORGANIZATION IN LIGHT OF PREVAILING MARKET
CONDITIONS AND REPORT SALES AND PRELIMINARY EBIT FOR Q4 2023
    * RESULTS IN NET SALES FOR Q4 AMOUNTING TO ABOUT MSEK 311
(341).
    * GARO E-MOBILITY REPORTED GROWTH OF 16%, WHILE GARO
ELECTRIFICATION DECLINED 17% COMPARED WITH YEAR-EARLIER QUARTER.
    * TO CARRY OUT AN ADDITIONAL ACTION AND EFFICIENCY PROGRAM
RESULTING IN REDUCTION OF ABOUT 50 EMPLOYEES
    * EBIT FOR Q4 IS EXPECTED TO AMOUNT TO ABOUT MSEK 0 (9)
    * EBIT WAS CHARGED WITH NON-RECURRING COSTS OF ABOUT MSEK 10
AS
RESULT OF IMPAIRMENT OF INVENTORY

Source text for Eikon:  ID:nWkr4ctSkf 
Further company coverage:  GARO.ST 

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