Zaptec AS — Earnings Release 2021

Jul 2, 2021

Zaptec trading update Q2-2021

Zaptec trading update Q2-2021

Zaptec registered purchase orders of 118 MNOK in the second quarter, which is an increase of 150% compared to the second quarter of 2020. Recorded revenue ended at 92 MNOK which is an increase of 94% compared to the same period last year.

The order back-log of 26 MNOK was accumulated during the quarter due to significant increase in new orders compared to current production volumes. Production volume was affected by the challenging market for power supply components affecting several industries in addition to the planned gradual startup volume for the new version of the Zaptec Pro charger which in sum temporarily impacts margins. Production capacity is however now ramping up and the order backlog is expected to reduce in concert with continued growth going forward.

The growth continues internationally and the export share in the second quarter of 2021 was 41% compared to 24% for the same period of 2020.

"During the second quarter Zaptec had a successful production ramp-up of our new charger Zaptec Go for the single family home markets. The new version of our Zaptec PRO charger for multi family homes is more competitive and is anticipated to fuel growth going forward as demand picks up and the challenges with sourcing power supply components are reduced in the third quarter", says Anders Thingbø, CEO in Zaptec.