April-
· Net sales amounted to
· The EVSE share of net sales was 31 percent (29) and amounted to
· Adjusted EBITA declined to
· Loss after tax amounted to
· Cash flow from operating activities amounted to
· Henrik Fagrenius has been appointed as the company's new President and CEO and will assume his role on
"Weak demand within the end consumer segment during April affected the quarter with negative sales growth and a reduced operating profit as a result. It is pleasing, however, that we saw a recovery during the last two months of the second quarter, a trend we now see continuing into the beginning of the third quarter. It is also positive that we continue to maintain stable underlying gross margins in all divisions," says
Activities to improve our profitability and reduce our tied-up capital are continuing with undiminished energy, which resulted in continued positive cash flow.
"The previously communicated cost-reducing activities, including personnel reductions, have continued to impact positively. Cash flow after investing activities remained positive for the quarter, driven by activities to reduce tied-up capital in inventories and accounts receivable. We remain firm in our previous assessment that we will have a positive operating cash flow for the full-year 2023. However, the Group's adjusted EBITA margin fell further to 1.4 percent, while organic sales declined 20 percent to
Today, 9 August at
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About
Established in Dalarna Sweden,
Products are sold via a carefully selected network of global distributors and retailers, as original equipment, supplied to more than 50 of the world's leading vehicle manufacturers and through charge point operators, property owners as well as other organisations and individuals providing EV charging infrastructure.
For more information, also visit www.ctekgroup.com
https://news.cision.com/ctek-ab/r/interim-report-q2--weak-demand-in-april-with-significantly-lower-sales-as-a-result---recovery-for-th,c3815059
https://mb.cision.com/Main/8516/3815059/2220247.pdf
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