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  • Interim report Q4: Advanced market positions and strong demand in all divisions – continuing investments in the organisation to ensure future growth

Interim report Q4: Advanced market positions and strong demand in all divisions – continuing investments in the organisation to ensure future growth

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October–December 2021

• Net sales increased to SEK 258 million (222). Adjusted for currency effects, growth was 16 percent.

• The EVSE share of net sales rose to 18 percent (13).

• Adjusted EBITA declined to SEK 21 million (36), corresponding to a margin of 8.1 percent (16.2).

• 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 fourth quarter. Net sales increased 16 percent to SEK 258 million, which is the highest quarterly figure to date. Orders in the Aftermarket division that could not be reported at the end of September were delivered to customers in the first weeks of October. The division shows continued strong growth both during the quarter and the full year with good profitability, and there are a number of trends that point to a favorable development within Low Voltage. EVSE sales accounted for 18 percent of the Group’s fourth-quarter sales compared with 13 percent last year. The adjusted EBITA margin declined to 8.1 percent (16.2) and was impacted by disruptions to the supply chain, higher freight and component prices, continuing investments in the organisation and a changed sales mix. Our assessment is that the challenging external business climate will persist, at a varying degree for each division, in the quarters ahead. For this reason, we continued to raise prices in all divisions to counteract cost increases. These price increases are expected to generate effects from the second quarter 2022”, says Jon Lind, President and CEO, CTEK Group.

Today, February 16 at 09:00, CTEK will hold an audiocast in English. CTEK is represented by CEO Jon Lind and CFO Mathias Sandh, who present the interim report and answer questions.

To participate or further information - https://financialhearings.com/event/43192

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 16 February 2022 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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