Q4 2024 CTEK AB (publ) Earnings Call Transcript
Key Points
- CTEK AB (OSTO:CTEK) reported a sales figure of SEK 279 million for Q4 2024, indicating strong revenue performance.
- The company achieved a gross margin of 49.8%, with an adjusted gross margin of 54.6% after accounting for a one-time order.
- CTEK AB (OSTO:CTEK) demonstrated a strong cash flow of SEK 59 million, contributing to a reduced net debt ratio of 1.8x.
- The Consumer division showed continued growth, marking the sixth consecutive quarter of organic growth, with a 7% increase this quarter.
- CTEK AB (OSTO:CTEK) successfully launched the Chargestorm Connected 3 EVSE charger, receiving positive feedback from customers.
- The adjusted EBITDA margin was 10.2%, lower than the previous year, partly due to uneven distribution of performance costs.
- The Professional division faced challenging market conditions, impacting its performance negatively.
- CTEK AB (OSTO:CTEK) experienced a credit loss of SEK 1.5 million due to the insolvency of a major customer, Eways.
- The company ended its collaboration with General Motors due to unsatisfactory volumes and profitability, affecting comparability by SEK 90 million.
- Cash in the bank decreased to SEK 142 million from SEK 192 million the previous year, despite an improved cash position due to amortization.
Welcome to CTEK Q4 report presentation 2024. (Operator Instructions) Now I will hand the conference over to the speakers, CEO, Henrik Fagrenius; and CFO, Thom Mathisen. Please go ahead.
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Thank you, operator. And once again, a warm welcome to the Q4 presentation from CTEK. Today's presenters is myself, and I also have CFO, Thom Mathisen here with me. Before we start to jump into the results, I'm just going to give you a brief presentation of CTEK. CTEK was founded in 1997 by Bengt Wahlqvist, the inventor of the first ever battery chargesr to use electronic pulse technology.
We are designing, developing and testing all our products in Sweden. We have competence centers in Vikmanshyttan, Norrköping and Shenzhen and we are producing in mainly Asia and Mexico.
CTEK has a big business with client brand, and we are chosen by the best. We have customers, like you can see here in the picture, Lamborghini, we also have Porsche, Bugatti, Rolls-Royce, BMW and 50
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