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
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.
Zaptec ASA is a Norway-based technology company. The Company offers intuitive and efficient Electric Vehicle (EV) chargers that ensure easier access to personal electric transport by combining the newest technology with a user-oriented design. Zaptec's charging stations include Zaptec Go and Zaptec Pro. Zaptec Go makes charging 10 times faster than using a socket, it fits well with all types of electric cars and homes and is one of the smallest smart chargers on the market, while Zaptec Pro is suitable for larger parking spaces in housing cooperatives and co-ownership properties, companies and newbuilds. The Company also offers Zaptec Sense, that automatically adjusts the charging speed in order to avoid overloading and power outages. Zaptec AS has several subsidiaries, including Zaptec Deutschland GmBH, Zaptec Sverige AB and Zaptec Danmark ApS.