Slide 1: Q4 2024
Q4 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: CTEKs 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: CTEKs 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: Q4 2024
Chargestorm Connected 3 Q4 2024 © CTEK AB
Slide 10: CTEK Q4 2024 financial overview
CTEK Q4 2024 FINANCIAL OVERVIEW 279 49.8 25 MSEK PERCENT MSEK NET SALES GROSS MARGIN ADJUSTED EBITA 59 23 1.8x MSEK PERCENT CASH FLOW FROM OPERATING EVSE SHARE OF NET SALES NET DEBT RATIO ACTIVITIES © CTEK SWEDEN AB
Slide 11: Q4 2024 key take aways
Q4 2024 KEY TAKE AWAYS Third consecutive quarter with organic growth • Net sales increased 16% organically to 279 SEKm (240). 12.8% 13.6% 9.1% 9.7% 9,1% • Adjusted for the one-time buy from General Motors the growth was 5% 7.1% 3.0% • The gross margin decreased with 3.8 p.p. to 49.8% (53.6) 1.4% 279
Slide 12: Q4 2024 Financials
CS FREE Q4 2024 Financials © CTEK AB
Slide 13: Comments key financials Q4
Comments key financials Q4 • Net sales increased 16% organically to 279 SEKm (240). • Adjusted for the one-time buy from General Motors the organic growth was 5%. • The gross margin decreased with 4.8 p.p. to 49.8% (53.6). • Adjusted for the one-time buy from General Motors the gross margin was 54.6
Slide 14: Consumer Division
Consumer Division CONTINUOUS STRONG MOMENTUM 1% • Net sales increased 7% organically to 34% 184 SEKm (172) • Adjusted EBITDA amounted to 70 SEKm (72), corresponding to a margin of 38.1% (41.7%). 66% 99% CS ONE Consumer div. Low Voltage Professional div. EVSE Net sales and adjusted EBITDA margin 200
Slide 15: Professional Division
Professional Division CHALLENGING MARKET CLIMATE • Net sales increased with 40% organically 34% 65% to 95 SEKm (67). The growth was mainly CHARGESTORM driven by the one-time buy from General CONNECTED 3 Motors. • Adjusted EBITDA amounted to -10 SEKm 35% (-10), corresponding to a margin of 66% -10.5%
Slide 16: Cash flow and CAPEX
Cash flow and CAPEX Cash flow and financial position • Cash flow from operating activities amounted to 59 SEKm (75) in the period. • Capex during the period amounted to -14 SEKm (-17m). • Cash flow after investment activities in the period was 42 SEKm (55). • Cash and cash equivalents at the end of
Slide 17: Summary
CS ONE Summary © CTEK AB
Slide 18: 2024 full year
2024 full year INCREASED REVENUE & MARGINS. DECREASED NET DEBT RATIO 914 Net Sales (884) SEKm Key take aways 2024 • Net sales increased 4% organically, mainly driven by: 53.0% • Focused sales activities in the Consumer Division which grew 13% • Continuously strong demand for client branded Low Volta
Slide 19: 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 20: Summary Q4
Summary Q4 Third consecutive quarter with growth for the group Continuous strong momentum for the Consumer Division Positive reception of Chargestorm Connected 3 Net debt ratio reduced to 1.8x (2.7) Capital market day to be held in Stockholm on May 22nd © CTEK AB
Slide 21: Questions?
Questions? ctek.com © CTEK AB