April - June 2024
- Net sales amounted to SEK 212 million (199). In organic terms net sales increased by 6%.
- The EVSE share of net sales decreased to 21% (31) amounting to SEK 45 million (61).
- The gross margin increased to 52.9 percent (50.4).
- Adjusted EBITA increased to SEK 15 million (3), a margin of 7.1% (1.4).
- EBIT was SEK 6 million (-13), including items affecting comparability of SEK -3 million (-8)
- Profit after tax was SEK -2 million (-22) and earnings per share after dilution amounted to SEK -0.03 (-0.32).
- Cash flow from operating activities amounted to SEK 22 million (39).
"During the second quarter of the year, the positive trend continued with improved margins and a reduced net debt ratio. It is particularly pleasing that we can report revenue growth for the first time since the first quarter of 2023.", says Henrik Fagrenius, President and CEO of CTEK.
During the quarter, CTEK saw a continuous strong growth in the Consumer division as well as positive trends within EVSE.
We continue to follow our strategic plan, which resulted in both organic growth and increased profitability during the quarter. The Consumer division continues to show strong sales growth, a result of, among other things, focused sales activities and the launch of CS ONE in Australia, the next generation Low Voltage charger with adaptive charging technology. Within the Professional division, we saw a volume decline mainly with regard to EVSE. It is pleasing, however, that we can discern positive trends in the sales of EVSE in North America, albeit from low levels.", says Henrik Fagrenius, President and CEO of CTEK.
Today, 9 August at 09:00 CEST, CTEK will hold an audiocast in English. CTEK is represented by CEO Henrik Fagrenius and CFO Thom Mathisen, who present the interim report and answer questions. For further information: https://financialhearings.com/event/48905
Before its publication, this information was inside information and is such that CTEK AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out below, on 9 August 2024 at 07:45 CEST.
For further information please contact:
Niklas Alm, Investor Relations, +46 708 24 40 88, niklas.alm@ctek.com
About CTEK
Established in Dalarna Sweden, CTEK is the leading global brand in battery charging solutions, most specifically vehicle charging.
CTEK offers products ranging from 12V & 24V battery chargers to charging solutions for electrical vehicles.
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.
CTEK takes pride in its unique culture based on a passion for innovation and a deep commitment to supporting the transition to a greener mobility, by adhering to industry-leading ESG standards.
CTEK's share is listed on Nasdaq Stockholm Mid Cap and is traded with the ticker CTEK.
For more information, also visit www.ctekgroup.com
