Garo Aktiebolag (publ) (GARO.ST) Stock Analysis & Winston Score

Garo Aktiebolag is a Swedish company that makes electrical products, mainly charging stations for electric vehicles (EVs) and electrical installation equipment. Its customers include property developers, housing associations, electricians, and businesses that need EV charging infrastructure. The company sells primarily across the Nordic countries and parts of Europe, and EV charging has become its most important growth segment in recent years. Garo earns money by selling hardware — charging units, cable management products, and other electrical components — through distributors and directly to installers. It operates mainly in Sweden, Norway, Finland, and the UK, and its brand recognition among Nordic electricians gives it some regional advantage. However, the company is currently running at a small operating loss, which reflects pricing pressure and weaker demand in the EV charging market as competition from larger European players has intensified. The key risk going forward is whether Garo can return to profitability as the EV charging market matures and margins remain under pressure.