Zaptec delivers 73% revenue growth and continues to invest significantly in preparations for continued international expansion, future-proof EV charging software, and a new production line inGermany .Peter Bardenfleth-Hansen , CEO of Zaptec: "During Q3, the uncertainty in the global economy increased as Central Banks' were fighting high inflation with increased interest rates. This led to a challenging market with a temporary slowdown in EV sales in our core markets. However, despite the market headwind, Zaptec delivered strong revenue growth. We continued to invest significantly in building the organization and preparing for further expansion. We entered a strategic partnership with Switch EV, highlighting Zaptec as AC charging frontrunner to explore the full scope of ISO 15118, unlocking seamless charging and bi-directional charging possibilities. Another highlight was production - both through successful test production at Sanmina's factory inGermany and a significant ramp-up at Westcontrol. Going forward we remain committed to delivering on our growth ambitions, changing the world with our cutting-edge, safe, high-quality EV charging solutions. " Highlights from Q3 2022: o Strong revenue growth of 73% to 226 MNOK and 58% increase in order intake to 233 MNOK compared to Q3 2021 o Continued international expansion including the opening of a subsidiary inthe Netherlands . The export share increased to 70% vs 56% in Q3 2021 o Gross margin of 38.8% and EBITDA of 14.9 MNOK o Electrification continues to be a predictable megatrend with increasing EV adoption in all markets, however EV sales weakened in some countries as the macroeconomic outlook worsened o Launched software prototype with Plug&Charge functionality for seamless charging (without credit card/app) and future-proof vehicle-to-grid (V2G) capability o Successful Sanmina test production and ramp-up of production at Westcontrol, combined with components sourced to deliver significant growth. Please refer to the attached report, presentation and restatet annual accounts for 2021 according to IFRS for further details. For more information:Peter Bardenfleth-Hansen , CEO,Zaptec AS Tel: +47 40 10 31 78, e-mail: pbh@zaptec.com Kristian Sæther, Finance Manager & IR,Zaptec AS Tel: +47 90 70 85 12, e-mail: investor@zaptec.com About Zaptec:Zaptec AS is a technology company within Electric vehicle (EV) charging systems inEurope . The company develops EV charging systems for multi and single-family homes and office buildings. The product portfolio enables large number of charging points at a low cost and includes Zaptec Pro, Zaptec Go, Charge365 payment services, Charging columns, Zaptec Portal, and Zaptec Sense. The company accelerates the electrification of the transport sector to assist European countries in reducing CO2 emissions from light-duty cars.
Click here for more information
© Oslo Bors ASA, source