Q3 2025 Zaptec ASA Earnings Call Transcript
Key Points
- Zaptec ASA (FRA:6I4) reported a 23% increase in revenue compared to the same period last year, indicating strong financial performance.
- The company achieved a record number of charger installations in September, with even higher numbers in October, pointing to robust future growth.
- Order intake increased by 35%, and the order backlog strengthened by 44%, showcasing strong demand for Zaptec's products.
- The company has normalized its inventory, which is expected to further reduce in the fourth quarter, driving robust cash flow and improved liquidity.
- Zaptec ASA (FRA:6I4) has reinforced its leadership in core markets, particularly in Norway, and has seen significant growth in major European markets.
- The third quarter is seasonally affected by lower activities due to summer breaks, impacting overall performance.
- Despite strong growth, the gross margin remained at 39%, similar to the previous year, indicating limited improvement in profitability.
- The company expressed dissatisfaction with the pace of growth in some major markets, indicating potential challenges in market penetration.
- The share-based bonus program impacted operating expenses, adding NOK5 million to costs in the quarter.
- Zaptec ASA (FRA:6I4) is still working to normalize its inventory levels, which have been excessive since 2023 due to market fluctuations.
Hello, and welcome to Zaptec and our presentation of the financial results for the third quarter. My name is Kurt Ostrem, I'm the CEO. And together with CFO, Eirik Haerem, we will take you through the highlights from the third quarter. The third quarter was a really strong quarter for Zaptec, driven by the strong EV sales across Europe.
The heading of this slide is steady progress. And the reason for that is that we see year-over-year that we have an increase in revenue, gross margin and EBITDA for Zaptec. The third quarter is always affected by the season, both installers and the end user have the summer break during this quarter, first in the Nordic countries in July and then in August for the rest of Europe. And this is expected and planned from our side that we see lower activities in these months due to the summer break. But despite this, we have delivered a really strong third quarter. And I'm happy to share that we have -- September was a record month for Zaptec.
Never before have we delivered so many chargers and installed
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