CTEK (CTEK) Q3 2025 earnings summary

Executive summary

• Q3 2025 net sales reached SEK 212 million, with strong Low Voltage segment growth and robust Amazon sales; organic growth was -1%, but 4% excluding the discontinued General Motors business.

• Record gross margin above 59% was achieved, driven by Low Voltage sales.

• Adjusted EBITDA/EBITA was SEK 32 million (margin just above 15%), with profit after tax at SEK 14 million.

• New product launches (Series 1 with Wi-Fi, NXT series, premium boosters) are planned for Q4, expected to drive significant growth in 2026.

• Challenging market conditions persisted in the EVSE segment, but new launches are on track.

Financial highlights

• Q3 net sales were SEK 212 million, down from SEK 222 million last year; gross margin improved to 59.1% from 56.4%.

• Adjusted EBITA was SEK 32 million (15.1% margin), up from SEK 30 million; EBIT was SEK 25 million, up from SEK 20 million.

• Cash flow from operating activities was SEK -19 million, impacted by seasonality and late customer payments.

• Consumer division delivered 12% organic growth in net sales year-over-year, with EBITDA margin around 41%.

• Professional division saw a 27% decline in net sales, mainly due to the end of the General Motors collaboration and a weaker EVSE market; EBITDA was at zero.

Outlook and guidance

• New product launches in Low Voltage and EVSE are expected to expand the addressable market, with major financial impact from 2026.

• Q4 2025 is expected to see lower Amazon order intake due to changed purchasing patterns.

• Financial targets include net sales of SEK 2 billion and adjusted EBITA margin of 20% by 2028.

• Premium boosters and power solutions to launch in phases, with broader portfolios expected later in 2026.

• EVSE sales target of $50 million in 2026, supported by UK and Germany markets.