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  • Interim report Q3: Strong demand across all divisions – substantial supply chain disruptions in latter half of September and continued higher logistics costs

Interim report Q3: Strong demand across all divisions – substantial supply chain disruptions in latter half of September and continued higher logistics costs

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July–September 2021

• Net sales increased to SEK 209 million (193). Adjusted for currency effects, growth was  

   9 percent.

• The EVSE share of net sales rose to 20 percent (10).

• Adjusted EBITA declined to SEK 25 million (47), corresponding to a margin of 12.0

   percent (24.2).

• Loss after tax amounted to SEK -32 million (13) and was charged with items affecting

   comparability of SEK 21 million and costs of SEK 24 million related to the refinancing.

• The company’s shares were listed on Nasdaq Stockholm on 24 September 2021.

• In October CTEK announced that General Motors had selected the company as

   collaborator for Ultium charging stations for EVs.

“CTEK continued to note strong demand across all divisions in the third quarter, and EVSE sales doubled compared with last year, accounting for 20 percent of the Group’s sales. We were not significantly impacted by the shortage of components and materials caused by the pandemic earlier in the year, even though this has gradually resulted in higher costs for the year. In the latter part of September, we experienced supply chain disruption, mainly in the Aftermarket division, which meant that ordered and scheduled deliveries could not be settled during the third quarter. Organic growth thus totaled 9 percent, with an adjusted EBITA margin of 12.0 percent. We see continued challenges and that the above-mentioned disruptions will affect our operations in the coming quarters as well”, Jon Lind, President and CEO.

Today, November 10 at 09:00, CTEK will hold an audiocast in English. CTEK is represented by CEO Jon Lind and CFO Marcus Lorendal, who present the interim report and answer questions.

To participate or further information: https://financialhearings.com/event/43191

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 November 2021 at 7:45 a.m. CET.

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

CTEK is the leading global supplier of premium low voltage chargers and the second largest EVSE product supplier in Sweden. The Company is characterised by a strong innovation culture and works continuously to improve and develop new products to meet customer needs. CTEK was founded in Vikmanshyttan in 1997 and today has sales in more than 70 countries. With a history of innovation and technology leadership, the Company meets new customer demands by continuously developing its innovative product offering and operations. Based on its technology leadership, the Company has established strong and longstanding customer relationships with more than 50 of the world’s most prestigious vehicle OEMs. In addition to OEMs, the Company also offers products to workshops, distributors, retailers, parking lots, charge point operators, property owners and consumers.

CTEK’s share is listed on Nasdaq Stockholm Mid Cap, and trades with the ticker CTEK.

For more information, please visit also www.ctekgroup.com


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