Zaptec AS — Earnings Release 2024

Nov 13, 2024

Zaptec ASA: Third quarter 2024 financial results

Zaptec ASA: Third quarter 2024 financial results

Sandnes, Norway – 13th of November 2024

As we move through 2024, Zaptec is focused on setting up for success in 2025. In the third quarter, we focused on the product development of the Zaptec Go 2 and adjusting our products to meet the needs of the German market, laying the foundation for growth across Europe in 2025.

Kurt Østrem, Zaptec’s CEO, says:

"Despite the challenging market landscape impacting revenue, we succeeded in delivering a strong gross margin and a positive EBITDA," commented Kurt Østrem, Zaptec's CEO. "We’re excited for the year ahead, with new product launches, expected market recovery, a sustained focus on cost efficiency, and a strong commitment to achieving our growth goals”.

Highlights:

• Quarterly revenue of 299 MNOK

• Order intake of 244 MNOK

• Order backlog of 365 MNOK

• Gross margin of 39%

• Opex of 112 MNOK

• EBITDA of 4 MNOK

A video presentation of the third quarter financial results is available at https://www.zaptec.com/company/investor-relations

For further information, please contact:

Kurt Østrem, CEO, Zaptec ASA Tel: + 47 40 40 47 00, e-mail: kurt@zaptec.com

Eirik Fjellså Hærem, CFO & Deputy CEO, Zaptec ASA Tel: +47 95 72 21 45, e-mail: efh@zaptec.com

Kristian Sæther, Finance Director & IR, Zaptec ASA Tel: + 47 90 70 85 12, e-mail: investor@zaptec.com

About Zaptec:

Zaptec is a technology company within electric vehicle (EV) charging systems in Europe. The company develops EV charging systems for multi and single-family homes and office buildings. The product portfolio enables many charging points at a low cost and includes Zaptec Pro, Zaptec Go, Zaptec Portal, and Zaptec Sense. The company accelerates the electrification of the transport sector to assist European countries in reducing CO2 emissions from light-duty cars.