Q4 2025 Zaptec ASA Earnings Call Transcript
Key Points
- Zaptec ASA (FRA:6I4) achieved record quarterly revenue, EBITDA, and order intake in Q4 2025, driven by strong EV markets across Europe.
- The company reported a 32% increase in revenue and a 41% increase in order intake, resulting in a backlog of over NOK700 million.
- Zaptec ASA (FRA:6I4) demonstrated a strong gross margin of 41.4% in Q4, attributed to a favorable product mix and increased sales of Zaptec Go 2.
- The company initiated dividend distribution for the first time, reflecting strong cash flow and liquidity, with a proposed dividend of NOK2.0 per share for 2025.
- Zaptec ASA (FRA:6I4) is well-positioned for future growth with plans to expand production in Hungary, enhancing capacity and reducing costs.
- Operating expenses increased in NOK terms, although they were lower as a share of revenue.
- There is potential variability in gross margins from quarter to quarter, despite an overall positive trend.
- Seasonality affects installation activity, with lower activity around Christmas and winter, which could impact short-term sales.
- Despite strong growth, the EV market in mature regions like Norway still requires significant progress to reach full electrification.
- The company faces challenges in maintaining high growth rates as it expands into new markets, which may require additional strategic focus and resources.
Welcome to Zaptec and our presentation of the financial results for the fourth quarter of 2025.
I'm pleased to announce that the fourth quarter was a very strong quarter for Zaptec due to strong EV markets across Europe and our leading product offering. This led to record quarterly revenue, EBITDA, and order intake for Zaptec.
Also, the insulation and order backlog point to continued growth into 2026.
We are the market leader in core regions. We are growing traction in major markets.
We have a strong cash flow and liquidity. For the first time, we are initiating dividend distribution from Zaptec.
Financially, Q4 was about profitable scaling. We increased revenue; grew our margins; and drove earnings higher. We had a strong order intake, which lifted our backlog, giving momentum into 2026.
In numbers, revenue increased 32%. Order intake was up 41%, leaving us with a backlog of
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