GARMIN (EUROPE) LIMITED

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

Ernst and Young LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The directors have carried out an assessment of the going concern position of the Company, addressing key risk factors that could have adverse impact on forecasts of profit and cashflows. ... After reviewing the above, the directors have concluded that they have a reasonable expectation that the Company has adequate resources to continue as a going concern for a period up to December 2026. Accordingly, they continue to adopt the going concern basis in preparing the annual report and financial statements. In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period to December 2026.”

Group structure

1. GARMIN (EUROPE) LIMITED · parent
   1. Global Lighting & Vision Systems Ltd 100% · Manufacture of electric lighting equipment

Significant events

• “On 17 December 2024, Garmin Nederland B.V. contributed the shares of Global Lighting and Vision Systems Ltd (GLVS) to Garmin (Europe) Ltd in exchange for an issue of new shares in Garmin (Europe) Ltd. This resulted in 1 share being issued at a value of £1, with share premium issued of £22,800,700.”
• “On 19 December there was a restructuring resulting in Lumishore USA LLC, part of the GLVS group, being acquired by Garmin International, part of the Garmin group, in exchange for loan notes.”
• “At the same time a dividend was received from Global Lighting & Vision Systems Limited for $9,452,160. A dividend was also paid out to Garmin Nederland B.V. for the same value.”
• “As a result of Garmin Europe Ltd no longer having indirect ownership of Lumishore USA, an impairment matching the reduction in the carrying value of $9,452,160 was made during the year.”
• “On the 11 June 2025 dividend income was received from the wholly owned subsidiary Global Lighting & Vision Systems Limited which totalled £5,173,810.”
• “On the 1st July 2025 an asset transfer took place of both Global Lighting & Vision Systems Limited and Lumishore Limited resulting in the assets and liability being hived up to Garmin Europe Limited.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

2

last 12 months

Capital events

1

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  +36.9%

  £912,553,002 → £1,248,988,881

• Cash

  +31%

  £20,360,267 → £26,667,902

• Net assets

  +17.9%

  £258,374,351 → £304,749,444

• Employees

  +3.1%

  392 → 404

• Operating profit

  +25.3%

  £33,331,357 → £41,762,787

• Profit before tax

  +25.5%

  £34,330,615 → £43,071,164

• Wages

  +12.5%

  £13,128,984 → £14,769,459

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers