CTEK AB: Interim report Q3: Continued growth and record strong quarter for the Consumer division
Net sales amounted to SEK 222 million (199). In organic terms net sales increased by 15%.
The gross margin increased to 56.4% (51.6).
Adjusted EBITA increased to SEK 30 million (18), a margin of 13.6% (9.1).
Cash flow from operating activities amounted to SEK -3 million (-14).
The EVSE share of net sales decreased to 15% (18) amounting to SEK 34 million (35).
"The third quarter of the year saw continued good growth and improved margins. A strong contributor to this was the Consumer division, which delivered its best third quarter ever. The Professional division had organic growth of 10 percent in the third quarter, the first quarter of growth since the new divisional structure with two sales divisions.", says Henrik Fagrenius, President and CEO of CTEK.
During the quarter, CTEK saw a continuous strong growth in the Low Voltage segment.
"I am pleased that Low Voltage showed growth for the fifth consecutive quarter. An increase of 16 percent, which is explained partly by the generally good sales in the Consumer division and the increased sales of customized solutions in the Professional division. To further strengthen the competitiveness of Low Voltage, we are now moving part of the production of Low Voltage chargers for the North American market to Malaysia due to the trade tariffs between China and the US.", says Henrik Fagrenius, President and CEO of CTEK.
Today, 14 November at 09:00 CET, CTEK will hold an audiocast in English. CTEK is represented by CEO Henrik Fagrenius and CFO Thom Mathisen, who present the interim report and answer questions. For further information: https://financialhearings.com/event/48906
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 14 November 2024 at 07:45 CET.