GARO reports sales decrease for the first half of 2026
GARO AB reported a 2% decline in net sales for the first half of 2026 compared to the previous year. The company implemented several internal restructuring measures to streamline operations.
Swedish electrical installation products manufacturer GARO AB reported a net sales decrease of 2% for the first half of 2026, amounting to MSEK 518.5 (MSEK 531.2 in the prior year period).
However, net sales for the second quarter saw a slight increase of 2% to MSEK 272.3 (MSEK 266.5 in Q2 2025). Operating EBIT remained negative for both periods, at MSEK -17.1 for the second quarter and MSEK -30.4 for the first half.
The company has undertaken significant internal restructuring to enhance efficiency. These measures include the integration of subsidiaries GARO Elflex AB and GARO Montage AB into GARO AB, and the relocation of production from Poland to Gnosjö/Hillerstorp in Sweden. Organizational changes within Sweden were also implemented to improve customer focus and operational efficiency.
GARO's E-mobility business area continues to be under evaluation. During the quarter, the company launched two new applications and a web interface for the E-mobility segment, aiming to enhance its digital offering and user experience.
Tobias Byfeldt assumed the role of President and CEO in early July and also acquired a substantial number of warrants in GARO.