Slide 1: Q3 2024
Q3 2024 © CTEK AB
Slide 2: Today's presenters
Today’s presenters HENRIK FAGRENIUS THOM MATHISEN CEO CFO © CTEK AB
Slide 3: A proud heritage that drives our future
A proud heritage that drives our future The CTEK story starts over 25 years ago in Vikmanshyttan, a small village in Dalarna in Sweden. This is where our founder – Swedish inventor Bengt Wahlqvist – created the first ever battery charger to use electronic pulse technology. © CTEK SWEDEN AB
Slide 4: From Sweden with love
From Sweden with love ALL OUR PRODUCTS ARE DESIGNED, DEVELOPED AND TESTED IN SWEDEN • CTEK secures its market position through high technical competence and focus on innovation throughout the development process. • About one third of the company's employees work in research and development at the
Slide 5: Chosen by the best
Chosen by the best At the moment, we’re supplying client branded chargers to over 50 of the biggest and most prestigious vehicle manufacturers in the world. © CTEK SWEDEN AB
Slide 6: CTEK's two technologies and subsegments
CTEKs two technologies and subsegments EVSE DESTINATION CHARGERS PORTABLE EV CHARGERS CLIENT BRAND Installed at public destinations, offices Portable chargers for use away from Installed in garages, driveways or at etc. home (e.g. holiday homes) residential properties Low voltage CONSUMER PROFESSION
Slide 7: Examples of areas of use for a selection of products in CTEK's portfolio
Examples of areas of use for a selection of products in CTEK’s portfolio EV & PHEV ICE RVs & LEISURE INDUSTRIAL CHARGESTORM CS ONE CS ONE CLIENT BRAND CS FREE M15 I1225 CONNECTED PRO 60 PRO 60 SMARTPASS 120S I2440 EV = Electric Vehicle, PHEV = Plug-in Hybrid Electric Vehicle, ICE = Internal combusti
Slide 8: CTEK's go to market strategy
CTEKs go to market strategy TWO SALES DIVISIONS DIVIDIED BY CUSTOMER TYPE Customer examples Product examples Automotive Ultium charger Chargestorm Connected Professional Charging point operators Customized solutions for EVSE and Low Voltage primarily for vehicle manufacturers, charging point operato
Slide 9: Q3 2024
CS FREE Q3 2024 © CTEK AB
Slide 10: CTEK Q3 2024 Financial Overview
CTEK Q3 2024 FINANCIAL OVERVIEW 222 56.4 30 MSEK PERCENT MSEK NET SALES GROSS MARGIN ADJUSTED EBITA -3 15 2.0x MSEK PERCENT CASH FLOW FROM OPERATING EVSE SHARE OF NET SALES NET DEBT RATIO ACTIVITIES © CTEK SWEDEN AB
Slide 11: Q3 2024 Key Take Aways
Q3 2024 KEY TAKE AWAYS Organic growth and increased profitability • Net sales increased 15% organically to SEK 222m (199). 12.8% 13.6% 9.1% 9.7% • The adj. EBITA margin increased by 4.5 p.p. to 13.6% (9.1). 5.0% 7.1% 3.0% 1.4% 259 246 240 222 199 199 201 212 Record Q3 for the Consumer division • Con
Slide 12: Low Voltage
Low Voltage INCREASED FOCUS ON SALES AND PRODUCT PORTFOLIO Fifth consecutive quarter on quarter growth for Low Voltage • A result of, e.g.: • Growing demand for PRO workshop chargers. • Increased sales of the premium product CS ONE. • Continuously good demand for client brand solutions. Shifted prod
Slide 13: Q3 2024 Financials
, fe UTGANG bos Q3 2024 Financials CTEK
Slide 14: Key financials Q3 2024
Key financials Q3 2024 Comments Q3 2024 SEKm 2024 Q3 2023 Q3 Full year 2023 Consumer 149.6 131.1 530.8 • Net sales increased to SEK 222m (199m), 11% increase adjusted for currency and 15% organic growth. Professional 72.2 67.9 352.2 Central - 0.2 1.2 • EVSE products accounted for 15% (18%) of total
Slide 15: Consumer Division
Consumer Division RECORD THIRD QUARTER 1% • Net sales increased 17% organically to 33% SEK 150m (131m) • Adjusted EBITDA amounted to SEK 63m (53m), corresponding to a margin of 41.8% (40.7%). 67% 99% CS ONE Consumer div. Low Voltage Professional div. EVSE Net sales and adjusted EBITDA margin 200 50%
Slide 16: Professional Division
Professional Division FIRST QUARTER WITH ORGANIC GROWTH 46% • Net sales increased with 10% organically 33% to SEK 72m (68m). CHARGESTORM CONNECTED 3 • Adjusted EBITDA amounted to SEK -2m (-8m), corresponding to a margin of -2.1% (-12.1%). 67% 54% Professional div. Low Voltage Consumer div. EVSE Net
Slide 17: Cash flow and CAPEX
Cash flow and CAPEX Cash flow and financial position • Cash flow from operating activities amounted to SEK -3m (-14m) in the period. • Capex during the period amounted to SEK -15m (-12m). • Cash flow after investment activities in the period was SEK -18m (-26m). • Cash and cash equivalents at the en
Slide 18: Summary
CS ONE Summary © CTEK AB
Slide 19: Summary Q3 2024
Summary Q3 2024 Second consecutive quarter of organic growth for the group Increased margins and solid net debt ratio Strongest third quarter ever for the Consumer Division First quarter with organic growth for the Professional Division Fifth consecutive quarter of organic growth for the Low Voltage
Slide 20: 3 phases to get back to growth and profitability
3 phases to get back to growth and profitability To be achieved before moving to Phase 3: • Adj. EBITA on track to reach financial target • Continuous stable positive cash flow • Net debt ratio below financial target To be achieved before moving to Phase 2: • Healthy OPEX level • LTM positive cash f
Slide 21: Questions?
Questions? ctek.com © CTEK AB