CTEK AB: Interim report Q2: Strong market climate within EVSE and continued investments in future growth

2022-08-10 07:45:00
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.