Q2 2024 CTEK AB (publ) Earnings Call Transcript
Key Points
- CTEK AB (OSTO:CTEK) reported organic growth of 6% for the first time in 1.5 years.
- The company increased its EBITDA margin by 5.7 percentage points to 7.1%.
- The consumer division experienced a strong growth of 26%, driven by focused sales activities and successful product launches like the CS1 in Australia.
- CTEK AB (OSTO:CTEK) has reduced its net debt ratio to 2 times, down from 3.4 times the previous year.
- The company has successfully launched the CC3 EVSE charger in the UK, receiving positive feedback from customers.
- The EVSE segment in North America is still at very low levels despite slight positive trends.
- The professional division experienced lower volumes, particularly from a major North American customer.
- There is uncertainty in the European market due to interest levels affecting new building projects.
- CTEK AB (OSTO:CTEK) is not providing guidance for future quarters due to market turbulence.
- The company needs to continue focusing on increasing sales and market penetration in various countries.
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Thank you very much. And welcome, everybody, to today's call. Today's presenter is me, Henrik Fagrenius, and I also have Thom Mathisen, CFO at CTEK.
Just a brief description of CTEK for the new participants. We are -- we were founded by inventor Bengt Wahlqvist 25 years ago in Vikmanshyttan in Dalarna. We are developing, designing, and testing all our products in Sweden, and we have research centers in Vikmanshyttan, Sweden; Norrköping, Sweden; and Shenzhen, China. We have mainly two technologies, which one is EVSE, that is chargers for electrical cars and hybrids, and low voltage, which is mainly 12 volts up to 48 volts chargers to some different segments.
Last year, we did a slight reorganization, and we have now two divisions. One is called professional, where we serve our big B2B customers, both client brand for low voltage and EVSE for big parking operators and others. And then, we have our consumer segment where we sell to consumers and to retailers.
So let's talk
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