Q3 2022

Peter Bardenfleth-Hansen CEO Kurt Østrem CFO

Update from the CEO

Peter Bardenfleth-Hansen

2

Q3 highlights

Strong revenue growth of 73% to 226 MNOK and 58% increase in order intake to 233 MNOK compared to Q3 2021

Continued international expansion including opening of subsidiary in the Netherlands. Export share increased to 70% vs 56% in Q3 2021

Gross margin 38.8% and EBITDA of 14.9

MNOK

Electrification continues to be a predictable megatrend with increasing EV adoption in all markets, however vehicle sales weakened in some countries as macroeconomic outlook worsened

Launched software prototype with Plug&Charge functionality for seamless charging (without credit card/app) and future-proofvehicle-to-grid (V2G) capability

Successful Sanmina test production and ramp-up of production at Westcontrol, combined with components sourced to deliver significant growth

3

Key financial figures Q3 2022

MNOK/%

Q3'22

Q3'21

YTD'22

YTD'21

Revenue

226.1

131.0

509.9

296.2

Export share

70%

56%

69%

47%

Gross margin

38.8%

44.8%

41.6%

39.2%

Opex

72.8

41.5

185.7

85.8

EBITDA

14.9

17.2

26.6

30.2

EBITDA margin

6.6%

13.1%

5.2%

10.2%

Liquidity

264.71

248.7

264.7

248.7

1 Including cash, deposits, funds and available credit on overdraft facility of total 70 MNOK.

Quarterly revenue and order intake (MNOK)

250

226

200

193

150

131

132

152

100

79

73

92

50

49

0

Q3'20

Q4'20

Q1'21

Q2'21

Q3'21

Q4'21

Q1'22

Q2'22

Q3'22

Norway

Export

Order intake

4

Increasing addressable market

Electric vehicle market shares are rising, driven by key trends:

Electric vehicle market shares

Battery Electric Vehicle (BEV) and Plug-in Hybrid Electric Vehicle (PHEV) share of total new vehicle sales 2021

Governments seek and incentivise emission reductions Automakers transition to electric to remain relevant

Customers demand environmentally friendly solutions

Favourable development in total cost of ownership compared to internal combustion engine vehicles

56%

15%

83%

40%

27%

20%

Increased availability of charging infrastructure

15% 22%

16%

16%

5

5

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Zaptec AS published this content on 09 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 November 2022 08:50:04 UTC.