January–March 2022
• Net sales amounted to SEK 237 million (234). Adjusted for currency effects, growth was -3 percent.
• The EVSE share of net sales rose to 17 percent (11).
• Adjusted EBITA declined to SEK 22 million (67), corresponding to a margin of 9.3 percent (28.7).
• CTEK initiated a partnership with Polarium to develop EV and sustainable energy storage technology.
CTEK’s net sales for the quarter increased 1 percent to SEK 237 million, of which EVSE sales accounted for SEK 37 million, or 17 percent. The Group’s adjusted EBITA margin declined to 9.3 percent, and was impacted by disruptions to the supply chain, higher freight and component prices, investments made in the organisation and a changed sales mix. CTEK decided to continue to raise prices from May to counteract a number of cost increases at various stages.
“CTEK continued to see a strong market climate in the first quarter in the Energy & Facilities and Original Equipment divisions, with higher demand than delivery capacity mainly due to the shortage of components and production challenges. Despite this, Energy & Facilities increased its net sales by almost 80 percent during the quarter and the growth in Original Equipment was 14 percent. In the Aftermarket division, which targets end consumers, market activity was generally more restrained after Russia’s invasion of Ukraine. However, the direct impact of the invasion on CTEK is very minor, with the company previously having marginal sales to, and no own operations, employees or other assets in, the region”, says Jon Lind, President and CEO, CTEK.
Today, May 11 at 09:00, CTEK will hold an audiocast in English. CTEK is represented by CEO Jon Lind and CFO Mathias Sandh, who present the interim report and answer questions.
To participate or for further information - https://financialhearings.com/event/44122
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 11 May 2022 at 7:45 a.m. CEST.