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GARO INTERIM REPORT JANUARY - SEPTEMBER 2021 STRONG GROWTH WITH A HIGH EBIT MARGIN AND GOOD CASH FLOW JULY - SEPTEMBER 2021 • Net sales amounted to MSEK 293.9 ( 247.0 ) . • Growth was 19 % ( 5 ) . • EBIT amounted to MSEK 48.5 ( 37.5 ) . • EBIT margin amounted to 16.5 % ( 15.2 ) . • • Net income was MSEK 39.4 ( 28.3 ) . Earnings per share¹ amounted to SEK 0.79 ( 0.57 ) . JANUARY - SEPTEMBER 2021 • Net sales amounted to MSEK 925.7 ( 733.6 ) . • Growth was 26 % ( 0 ) . . EBIT amounted to MSEK 149.5 ( 86.6 ) . • EBIT margin amounted to 16.2 % ( 11.8 ) . • Net income was MSEK 120.3 ( 60.9 ) . • Earnings per share amounted to SEK 2.41 ( 1.22 ) . 1 Jul - Sep Jul - Sep +/- Jan - Sep Jan - Sep 2020 R12 GARO Group key figures¹ 2021 2020 % 2021 Jan - Dec 2020 Net sales , MSEK 293.9 247.0 19 925.7 733.6 1,232.0 1,039.8 EBITDA , MSEK EBITDA margin , % EBIT , MSEK EBIT margin , % 57.2 44.6 28 174.9 106.8 231.2 163.2 19.5 18.1 18.9 14.6 18.8 15.7 48.5 37.5 29 149.5 86.6 199.0 136.2 16.5 15.2 16.2 11.8 16.2 13.1 Net income , MSEK 39.4 28.3 39 120.3 60.9 154.7 95.3 Earnings per share , SEK 0.79 0.57 39 2.41 1.22 3.09 1.91 Cash flow from operating activities , MSEK 51.9 2.4 74.0 4.3 156.7 86.9 Investments , MSEK 10.6 9.5 33.9 35.9 43.3 45.3 Depreciation , MSEK 8.7 7.1 25.4 20.2 32.1 26.9 Equity ratio , % Equity per share , SEK Return on equity , % Net debt ( + ) / net cash position ( - ) , MSEK 60.4 57.7 60.4 57.7 60.4 57.9 10.07 8.00 10.07 8.00 10.07 8.61 34.2 23.8 34.2 23.8 34.2 24.7 28.0 83.4 28.0 83.4 28.0 11.3 1 ) For definitions of key figures , see page 21 . GARO AB ( publ ) Corp. Reg . No. 556071-7772 is a company that develops , manufactures and markets innovative products and systems for the electrical installations market under its own brand . GARO's customer offering is to provide complete solutions in the product areas of Electrical distribution products , E - mobility , Project business & Temporary Power with a focus on electrical safety , user - friendliness and sustainability . GARO was founded in 1939 , has its head office in Gnosjö and is today an international company with operations in six countries with around 450 employees . The company's production units in Sweden are located in Gnosjö and Värnamo , as well as in Szczecin , Poland . GARO's sales in 2020 amounted to MSEK 1,040 . GARO is listed on Nasdaq Stockholm under the ticker name GARO . For more information , see www.garo.se