Strong cash flow during an otherwise challenging quarter - new action package initiated
OCTOBER -
- Net sales amounted to MSEK 311.2 (341.8).
- Net sales declined 9% (-8).
- EBIT amounted to MSEK -0.1 (8.9).
- EBIT margin amounted to 0% (2.6).
- Non-recurring costs of MSEK 9.8 (15.0) were charged to EBIT.
- Non-recurring revenue from the sale of industry properties of MSEK 18 (0) is included in EBIT.
- Net income was MSEK 0.1 (7.0).
-
Earnings per share amounted to
SEK 0 (0.14). - Cash flow from operating activities amounted to MSEK 34.9 (13.0).
JANUARY -
- Net sales amounted to MSEK 1,369.9 (1,390.5).
- Net sales declined 1% (+7).
- EBIT amounted to MSEK 51.1 (152.8).
- EBIT margin amounted to 3.7% (11.0).
- Net income was MSEK 31.3 (120.5).
-
Earnings per share amounted to
SEK 0.63 (2.41). - Cash flow from operating activities amounted to MSEK 25.6 (89.2).
-
The Board proposes a dividend of
SEK 0 per share (0.80).
SIGNIFICANT EVENTS DURING AND AFTER THE QUARTER
- During the fourth quarter, a production facility in
Poland was divested for MSEK 45 and a small industrial property in Gnosjö was divested for MSEK 12, reducing operating costs and interest-bearing net debt by MSEK 57. The total capital gains amounted to MSEK 18. -
The action and efficiency program, which primarily concerns the
GARO Electrification business area, was carried out in accordance with plan during the fourth quarter. -
On
January 30 , it was announced that a new action and efficiency program had been initiated, resulting in the reduction of about 50 employees in the Group, primarily in theGARO E-mobility business area.
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This information is such information that
https://news.cision.com/garo/r/year-end-report-2023,c3932643
https://mb.cision.com/Main/13799/3932643/2618138.pdf
https://mb.cision.com/Public/13799/3932643/9e337bd7d3969eae.pdf
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