Zaptec (ZAP) Q2 2026 earnings summary

Executive summary

• Achieved record revenue of 506 MNOK in Q2 2026, up 32% year-over-year, and record EBITDA of 69 MNOK, driven by high installation rates, robust order intake, and operational scalability.

• Maintained market leadership in core European regions, with strong performance in Tier 1 markets and accelerating EV adoption.

• Demonstrated strong cash flow and liquidity, even after a 175 MNOK dividend payment.

• Order intake reached 894 MNOK, with an order backlog exceeding 1.1 BNOK, supporting future growth visibility.

Financial highlights

• Revenue reached 506 MNOK in Q2 2026, up 32% year-over-year, marking the highest quarterly revenue to date.

• Order intake surged 94% to 894 MNOK; order backlog up 97% to 1,119 MNOK at quarter-end.

• Gross margin stable at 41% in Q2 2026; EBITDA margin improved to 14% from 11% in Q2 2025.

• Opex increased to 137 MNOK, but opex as a share of revenue declined to 27% from 29% year-over-year.

• Net profit for H1 2026 was 75.5 MNOK, up from 18.8 MNOK in H1 2025.

Outlook and guidance

• Strong order book and accelerating European EV demand support continued growth.

• Focus remains on winning Tier 1 markets, product innovation, and sustaining strong gross margins.

• Production capacity to increase with new Hungary facility coming online in Q3 2026.