Interim report Q2: Strong market climate within EVSE and continued investments in future growth
April–July 2022
• Net sales amounted to SEK 235 million (221). Adjusted for currency effects, growth was 1%.
• The EVSE share of net sales rose to 29 percent (23).
• Adjusted EBITA declined to SEK 23 million (38), corresponding to a margin of 9.9 percent (17.0).
• The first units of the base variant Ultium Chargers will be delivered to GM in August.
”CTEK continued to see a strong market climate in the second quarter in the Energy & Facilities and Original Equipment divisions, with higher demand than capacity to deliver. Demand in Aftermarket, which targets end consumers, was more volatile in the quarter and impacted by the geopolitical situation. Our local presence in Asia as well as long and strong supplier and customer relationships provide stability and an incentive to continue to invest in our operations, particularly in destination chargers, which is our primary market segment in EVSE. Every day we are faced with new challenges related to the supply of components, production and logistics, although we saw a positive development in the second quarter of the year”, says Jon Lind, President and CEO, CTEK.
Today, 10 August at 09:00 CEST, CTEK will hold an audiocast in English. CTEK is represented by CEO Jon Lind and interim CFO Mathias Sand, who present the interim report and answer questions.
To participate or for further information - https://financialhearings.com/event/44123
Before its publication, this information was inside information and is such that CTEK AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out below, on 10 August 2022 at 07:45 CEST.
For further information please contact:
Jon Lind, President and CEO, +46 703 97 23 71, jon.lind@ctek.com
Niklas Alm, Investor Relations, +46 708 24 40 88, niklas.alm@ctek.com
About CTEK
Established in Dalarna Sweden, CTEK is the leading global brand in battery charging solutions, most specifically vehicle charging.
CTEK offers products ranging from 12V & 24V battery chargers to charging solutions for electrical vehicles.
Products are sold via a carefully selected network of global distributors and retailers, as original equipment, supplied to more than 50 of the world’s leading vehicle manufacturers and through charge point operators, property owners as well as other organisations and individuals providing EV charging infrastructure.
CTEK takes pride in its unique culture based on a passion for innovation and a deep commitment to supporting the transition to a greener mobility, by adhering to industry-leading ESG standards.
CTEK's share is listed on Nasdaq Stockholm Mid Cap and is traded with the ticker CTEK.
For more information, also visit www.ctekgroup.com