CTEK (CTEK) CMD 2025 summary

Strategic direction and growth plans

• Announced new 2028 financial targets: SEK 2 billion in sales, 20% adjusted EBITDA/EBITA margin, net debt below 3x, and a 30% dividend payout policy.

• Strategy centers on core low voltage charging, expansion into Premium Boosters and Power Solutions, and scaling EV destination charging, with most growth from new and adjacent categories.

• Addressable market to expand from ~SEK 20-21 billion to ~SEK 75-77 billion by 2028, driven by new product launches and leveraging existing technology and channels.

• Growth to be primarily organic, with M&A as a potential accelerator, especially in Power Solutions, and deeper penetration in the UK and Germany.

• Three-phase transformation: cost control and restructuring, focus on profitable core business, and accelerated growth via new products and markets.

Product and market development

• Premium Boosters and Power Solutions to launch by end of 2025, targeting RVs, boats, service vehicles, and vehicles with secondary battery systems.

• Power Solutions addresses a SEK 50 billion market growing at 7% annually, leveraging CTEK’s expertise and channels.

• EVSE business focuses on destination charging, B2B sales, and launching new products like ChargeStorm Connected 3, including a German-specific variant.

• Expansion in key markets: Sweden, UK, and Germany, with a focus on professional customers, large-scale installations, and e-commerce in up to 50 markets by 2028.

• New product launches planned through 2026, including CS ONE Gen 2, NXT series, Premium Boosters, and integrated AC/DC chargers.

Financial and operational outlook

• Asset-light model with outsourced production, low CapEx (4%-6% of sales), and focus on engineering, test, and validation.

• Gross margins in the consumer division expected to remain high and stable; new product categories anticipated to deliver strong margins, with OPEX not rising proportionally.

• Net debt ratio already below target, enabling dividend payments and M&A flexibility from 2025.

• Management incentives aligned with growth, profitability, cash flow, and sustainability targets.

• Organization remains lean, with a global presence and strong performance culture based on innovation, trust, and passion.