Q3 2024 CTEK AB (publ) Earnings Call Transcript
Key Points
- CTEK AB (OSTO:CTEK) reported a 15% organic growth in net sales for Q3 2024, reaching SEK252 million.
- The company achieved an increase in gross margin by 4.8 percentage points to 56.4%.
- Adjusted EBITDA improved significantly from SEK18 million to SEK30 million, representing a margin increase from 9.1% to 13.6%.
- The consumer division experienced its strongest third quarter ever, contributing two-thirds of the net sales.
- CTEK AB (OSTO:CTEK) has successfully expanded its market presence, gaining new customers and increasing sales with existing ones, particularly in the low voltage segment.
- The professional division reported a loss at the EBITDA level, despite showing some improvement.
- Cash flow remained negative at minus SEK3 million, although it improved from minus SEK14 million in the previous year.
- Sales in North America are still very low, with limited visibility on future growth in this region.
- The EVSC market is generally slow, impacting the rollout of new products like the CC3.
- The company faces tough comparisons for Q4 due to favorable weather conditions in the previous year that boosted sales.
Welcome to CTECH Q3 report 2024. For the first part of the conference call, the participants will be in listen-only mode during the questions and answers session, participants are able to ask questions by dialing Star five on their telephone keypad. Now I will hand the conference over to the speaker's CEO Henrik Freres and Co Tom Matheson.
Please go ahead.
()-
Thank you so much operator and welcome to today's presentation of the report.
So I will start with some overall information about CTECH. CTECH was founded more than 25 years ago by this happy man and entrepreneur Bengt Walquist in Wikman, Swan Danna.
We are doing all our product development design and testing in Sweden and then we have production in Asia and Mexico.
We are chosen by the best. We have all almost all premium car manufacturers as our customers. And here you can see a nice Lamborghini cobranded with CTECH.
We are mainly having two technologies. One is the
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