Q3-21: Continued strong revenue growth with increased gross margins

12 Nov 2021 07:00 CET

Company Name





Euronext Growth



- We grow our revenues in all geographic markets with a considerable increase in
gross margins and adj. EBITDA margin of 17,5% in the third quarter. Our
market-leading position is in multi-family homes and office buildings in Europe,
says CEO Anders Thingbø.

- Our strategic focus will continue to be geographic expansion with a system
operator business model, a low capital expenditure, and a continuous
technological development to deliver recurring revenues and higher customer

Highlights from Q3 2021:

• Revenue of 131 MNOK, increased 170% compared to Q3 2020
• Registered purchase orders increased 182% compared to Q3 2020
• Significantly strengthened gross margin of 44.8%
• Adjusted EBITDA of 22.9 MNOK, compared to 5.1 MNOK Q3 2020
• Preparations for the company to be listed on the main list on Oslo Stock
Exchange during 2022 initiated

The acquisition of Novavolt in Switzerland enriches our company in various ways,
according to the CEO.

-Our Swiss subsidiary, which we acquired in Q2-2021, is growing profitably, and
their unique understanding of professional real estate markets will be valuable
for our development in Germany, he says.

The electric vehicle adoption is high in Zaptec's key markets.

- In 2022, we assume profitable revenue growth in line with the increase in
European EV markets. Two-thirds of the revenues will be collected outside
Norway, even with an increased turnover in Norway in 2022, says Anders Thingbø.

Please refer to the attached report and presentation for further details.

For more information:

Anders Thingbø, CEO, Zaptec AS Tel: +47 93488385, e-mail: at@zaptec.com
Kurt Østrem, CFO, Zaptec AS Tel: +47 40404700, e-mail: kurt@zaptec.com


• Q3 2021 Presentation (pdf)
• Q3 2021 Report (pdf)


Zaptec AS


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