CTEK (CTEK) Q2 2026 earnings summary

Executive summary

• Q2 2026 saw seasonally weaker sales, with net sales at SEK 179 million, down 8% organically year-over-year, mainly due to altered ordering patterns in the Professional/Client Brand segment, but profitability remained strong with improved margins and solid cash flow.

• Significant product launches in H1 2026, more than in the previous five years combined, contributed to organic growth, especially in the Consumer division, and strengthened partnerships, notably with BMW through the rollout of the CS ONE Gen 2 platform.

• The strategic review of the EVSE business is ongoing and progressing as planned, with a focus on the profitable Low Voltage segment.

• Positive cash flow and a solid financial position, with leverage well below target, provide flexibility for continued investment and selective acquisitions.

• Profit after tax was SEK 4 million, compared to a loss of SEK 1 million in Q2 2025.

Financial highlights

• Net sales were SEK 179 million, down from SEK 197 million year-over-year, with an organic decline of 8%.

• Gross margin increased to 65.7% from 56.3% year-over-year, driven by a favorable product and geographic mix.

• Adjusted EBITDA was SEK 29.6 million (28.1), and EBITA remained stable at SEK 14 million, with a margin of 7.8% (6.9%).

• Cash flow from operating activities was SEK 25 million (31), and net cash flow after CapEx was SEK 18 million, higher than last year.

• Net debt/Adjusted EBITDA (LTM) improved to 0.7x from 1.8x a year earlier.

Outlook and guidance

• Management expects normalization of client brand ordering patterns and stronger sales in the second half of 2026.

• Additional product launches are planned for Q3, Q4, and Q1 next year, with meaningful growth from power solutions expected in 2027.

• Continued positive outlook for organic and M&A-driven growth, supported by a solid financial position and ongoing investments.