Q2 2026 Zaptec ASA Earnings Call Transcript
Key Points
- Record revenue of NOK506 million, up 32% year-over-year, and record EBITDA of NOK69 million with a 14% margin.
- Order intake nearly doubled to NOK894 million, with the order book exceeding NOK1.1 billion, providing strong revenue visibility.
- Installations hit a new record, up 45% year-over-year, with about 1,000 chargers installed daily in June, reflecting robust underlying demand.
- Maintained gross margin above 40% at 40.7% despite currency and cost pressures, supported by design and scale efficiencies.
- Strong cash generation with over NOK100 million in cash flow, even after a NOK175 million dividend payment, keeping liquidity healthy.
- Ranked as Europe's leading AC charging provider for the second consecutive year, with strong growth in Tier 1 markets (Germany, France, UK) and emerging Benelux momentum.
- Gross margin was impacted by a stronger NOK and component-related cost pressures, though it remained resilient.
- Project delays in the UK and France during the quarter tempered growth in those markets, despite overall momentum.
- OpEx, while declining as a share of revenue, still represents a significant cost base that requires continued scaling to improve profitability.
- The company faces ongoing cost pressures from components, which could affect margins if not mitigated by design improvements.
- Dependence on European market growth, which, while strong, could be affected by regulatory or economic shifts in key regions like Germany, France, and the UK.
Hello and welcome to Zaptec's second quarter 2026 presentation. The second quarter was another strong quarter for Zaptec.
We delivered record revenue, record EBITDA, record installation levels and record order intake. At the same time, we maintained gross margins above 40%, generated strong cash flow and further strengthened our position in key European markets.
I will start with a few highlights before Eirik takes you through the financial performance. The quarter was strong across most areas of the business. Revenue increased 32% while the order intake almost doubled compared to the second quarter last year. Installation rates reached new record levels, showing strong underlying demands for sub-ting products.
We also maintained on market leadership in core regions and saw continued progress in major European markets. Overall, we are pleased with the development and believe the second quarter supports a positive outlook going forward.
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