Slide 1: Q1 2021
Q1 2021 Anders Thingbø – CEO Kurt Østrem – CFO
Slide 2: Highlights Q1
Highlights Q1 • Organic revenue growth of 63% versus first quarter 2020 • Significant increase in export share • Strong cash balance and total liquidity available of 241 MNOK • Gross margin of 33% is below our ambition, and as previously announced, due to sales of a discontinued low margin product •
Slide 3: Highlights Q1
Highlights Q1 • New sales of electric vehicles in Europe continue to be strong • Zaptec Go for single-family homes launched • Secured production volumes for 2021 and 2022 based on recently announced agreement with Westcontrol • New subsidiaries established in Germany and UK • Increased organic reven
Slide 4: Key numbers
Key numbers MNOK/% Q1-21 Q1-20 Revenues 73.1 44.8 Export Share 38 % 19% Gross margin 33.3% 39.1% Operating expenses 18.8 13.1 EBITDA adj. 5.5 1 4.4 EBITDA Margin (%) 7.6% 9.9% Available liquidity 241.6 7.3 1. Adjusted for salary benefit and social cost on share option program of MNOK 9.7 and other o
Slide 5: EV markets with continued strong growth
EV markets with continued strong growth New electric vehicle sales1 • 85,000 EVs sold in 120 000 Norway, Denmark, 100 000 80 000 Sweden, and Switzerland 60 000 40 000 20 000 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2019 2019 2019 2019 2020 2020 2020 2020 2021 Norway Denmark Sweden Switzerland 90 000 80 000 70 0
Slide 6: EV markets with continued strong growth
EV markets with continued strong growth New electric vehicle sales1 • 200,000 EVs sold in Germany and the UK 300 000 250 000 200 000 • 500 EV models will be available 150 000 100 000 globally by 2022 as automakers 50 000 accelerate their EV launch plans2 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2019 2019 2019 2
Slide 7: International expansion
International expansion • The export share rose from 19% in Q120 to 38% in Q121. Our largest export markets are Switzerland, Sweden, Denmark, and Iceland. • We have appointed Country Managers in Germany and UK to manage sales directly to installers, energy companies, and value-added resellers. Sales
Slide 8: 840 new Zaptec Pro installations
840 new Zaptec Pro installations • We delivered 840 new Pro installations (540 in Q120) • A typical Zaptec Pro installation is a multi-family home with 10-200 in- or outdoor parking bays where all parking bays are equipped with Zaptec infrastructure • In most of the installations, 10% of the parking
Slide 9: Subscription for Charge365 payment services
Subscription for Charge365 payment services • New automatic payment contracts via Charge365 increased with 117 new contracts. • The number of active users is 16,500
Slide 10: Zaptec Go – our new offering for single-family homes
Zaptec Go – our new offering for single- family homes • We launched Zaptec Go in March, and deliveries started in April • Zaptec Go is the smallest, fastest, and most cost-efficient 22 KW charger in the world • Go+ is a service where charging takes place when the electricity prices are low. • The di
Slide 11: Production
Production • New four-year agreement with Westcontrol AS, our production partner located at Tau, Rogaland. The production capacity at Westcontrol is sufficient to cover our production volumes for 2021 and 2022. • Westcontrol will invest MNOK 100 in new production facilities, including robotization,
Slide 12: Technology development and organisation
Technology development and organisation • Development of Zaptec Go finalized with a production ramp-up in Q221. • We have signed a Cloud Management agreement with Basefarm that will free up development resources, provide more scalability and stability for our Microsoft Azure cloud platform. • Zaptec
Slide 13: Strategic growth initiatives and outlooks
Strategic growth initiatives and outlooks • No strategic growth initiatives have taken place during Q121. • On 4 May, Zaptec signed a Letter of Intent to acquire NovaVolt AG, our exclusive reseller in Switzerland. • The electric vehicle market is growing strongly in all our key markets. • Zaptec is
Slide 14: Q&A
Q&A Disclaimer – forward looking statements Cautionary Statement Regarding Forward-Looking Statements In addition to historical information, this presentation contains statements relating to our future business and/or results. These statements include certain projections and business trends that are