Zaptec AS — Earnings Release 2020

Feb 11, 2021

Zaptec with profitable growth in Q4 2020

Zaptec with profitable growth in Q4 2020

Q4 2020 Highlights

- Positive working capital development and strong cash balance

- Turnover growth 66%

- Gross margin reduced due to higher than expected sales of a low margin product

- EBITDA MNOK 11,1 (14% of revenues)

- Operating cost as a share of revenues has been reduced

- New sales of electric vehicles in Europe continue to grow

- Technology development with new product launch in Q1-21 is on schedule

- Successful share issue and IPO on Euronext Growth

Outlook

The growth in EV demand is substantial, as is the speed of development in technology, customer awareness and ecosystems. This adds increased potential to Zaptec’s business proposition and growth prospects while at the same time making guiding challenging.

Against this perspective the company will continue its national and international growth efforts, and update the financial market on a regular basis and at least quarterly about developments, status and outlook.

Please refer to the attached report and presentation for further details.

For more information:

Anders Thingbø, CEO, Zaptec AS

Tel: +47 934 88 385, e-mail: at@zaptec.com

Kurt Østrem, CFO, Zaptec AS

Tel: +47 404 04 700, e-mail: kurt@zaptec.com

About Zaptec:

Zaptec is a leading developer and seller of charging systems for electric vehicles and related technology for multi family homes, office buildings and large parking facilities. Its chargers have integrated phase-balancing technology and utilise Automatic Power Management software, allowing charging at significantly higher speeds compared to conventional chargers without such technology. The group has 34 employees and is headquartered in Stavanger, Norway.