Zaptec continues to grow in what they refer to as “a temporarily challenging market in the Nordics”. Future-oriented investments are the focus for the charging company and to focus on long-term growth and sustainable development.
The company had 300 million in turnover in the first quarter, up 14 percent from last year’s 265 million. However, operating expenses increased, and thus the operating profit ended at minus 9.6 million. In the same period last year, the losses ended at 7.3 million.
Order intake ended at NOK 306 million, while the order backlog is NOK 452 million. The gross margin is 38 percent.
– Zaptec is well positioned, now as market leader in the Nordics and third largest in Europe. With the ever-increasing demand for electric vehicles and stricter regulations requiring lower emissions from 2025, in addition to the impending launch of several new affordable EV models in the coming quarters, the market for EV chargers is expected to quadruple in the coming years (up to 2030, journal note), says Kurt Østrem, managing director of Zaptec.
GROWTH: This is how Zaptec envisions the market to grow in the coming years. Taken from Zaptec’s quarterly report. Screenshot: Zaptec
Zaptec has identified several key markets such as the UK, the Netherlands, France and Germany, where demand is expected to be “exceptionally high”.
According to Østrem, over ten percent of all chargers sold in Europe in 2023 were Zaptec chargers.
– This shows that we are strongly positioned for further growth, says Østrem.
Tags: Zaptec increased revenues Expect fourfold increase CEO
