Q1 2025 CTEK AB (publ) Earnings Call Transcript
Key Points
- CTEK AB (OSTO:CTEK) achieved organic growth for the fourth consecutive quarter, with Q1 2025 revenue reaching SEK213 million.
- The Consumer division experienced its seventh consecutive quarter of growth, driven by strong sales in North America and online channels.
- The Professional division reported its first profitable quarter since its inception, with a positive EBITDA of around 6%.
- Gross margin improved to 56.4%, attributed to a favorable product mix.
- CTEK AB (OSTO:CTEK) maintained a stable financial position with a net debt ratio of 1.9, below their financial target.
- The EBITA was impacted by non-realized foreign exchange effects, which affected the financial results.
- Cash flow from operating activities was lower compared to the same quarter last year due to periodical payment impacts.
- The net finance cost was high at minus SEK13 million, primarily due to non-realized FX impacts.
- Sales in North America decreased from SEK21 million in Q1 last year to SEK17 million, partly due to the exclusion of the GM contract.
- The U.K. sales for the CC3 charger have not yet taken off, indicating slower market penetration in that region.
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Thank you, operator, and a warm welcome to all of you to today's Q1 presentation for 2025 for CTEK. The presenters today is myself, Henrik Fagrenius; and our CFO, Thom Mathisen.
And as always, I'll start with a short recap of CTEK. CTEK was founded more than 25 years ago by Bengt Wahlqvist, the happy guy on the picture. And he invented the first-ever smart charger with pulse technology. We are delivering we are developing and testing and designing everything in Sweden, and we have production mainly in Asia and China but also in Malaysia. We have more than 50 premium brands that are choosing CTEK as their charger.
And I'm very proud to show the Lamborghini that is actually co-branded with CTEK, which is extraordinary and says a lot about our quality. CTEK has mainly two different technologies. We have the EVSE technology, where we are focusing on destination charging; and then we have our Low Voltage, where we are present in different segments as consumer, professional, workshop, client, brand and
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