• Net sales amounted to SEK 199 million (221). Net sales declined 15 percent organically.

• The EVSE share of net sales decreased to 18 percent (27) and amounted to SEK 35 million (59).

• The gross margin was 51.6 percent (50.3).

• Adjusted EBITA amounted to SEK 18 million (21), corresponding to a margin of 9.1 percent (9.5).

• Adjusted EBIT amounted to SEK 11 million (14), corresponding to a margin of 5.5 percent (6.3).

• EBIT amounted to SEK -233 million (9), corresponding to a margin of -116.9 percent (4.1).

• Loss after tax amounted to SEK -217 million (7) and earnings per share after dilution amounted to SEK -3.10 (0.14).

• Impairment of non-cash intangible fixed assets of SEK 60 million which were communicated in the second quarter, as well as an additional SEK 166 million attributable to the acquisition of Chargestorm 2018.

• Cash flow from operating activities amounted to SEK -14 million (-1).

• Henrik Fagrenius assumed the role as CEO on 1 September.

• Starting in the fourth quarter, CTEK will conduct the group's operations in two divisions - Consumer and Professional.

"It is gratifying that the cost-reducing activities we initiated at the beginning of the year, including personnel reductions, continue to have a positive effect. Net sales in the third quarter of the year were in line with the second quarter with improved underlying profitability and sequential growth within the Aftermarket division. The adjusted EBITA margin amounted to 9.1 percent, which was 7.7 percentage points higher than the second quarter of the year and is explained by a changed product mix and lower costs. We stand by our previous assessment of being operationally cash flow positive for the full year 2023," says Henrik Fagrenius, President and CEO of CTEK.

The third quarter was charged with non-cash impairments of goodwill and other intangible assets totaling SEK 226 million. This includes previously communicated impairments of SEK 60 million pertaining to the reduced number of product variants for the North American market.

In order to create better preconditions for profitable expansion of our EVSE Products, starting in the fourth quarter, we will concentrate the Group's operations to two divisions.

"By merging the Original Equipment and Energy & Facilities divisions and creating the new Professional division, we can realize a range of synergies in market and sales as well as development and production in the future. Our offering within EVSE is fundamentally based on the same product platforms, while our customers' purchasing process is very similar to each other when we now focus on larger customers in the business-to-business segment. I am convinced that via this change we will most quickly reach a scalable EVSE business with sustainable profitability and solid cash generation", says Henrik Fagrenius, President and CEO of CTEK.

Today, 15 November at 09:00 CET, CTEK will hold an audiocast in English. CTEK is represented by CEO Henrik Fagrenius and CFO Thom Mathisen, who present the interim report and answer questions. For further information:  https://financialhearings.com/event/46048

Before its publication, this information was inside information and is such that CTEK AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out below, on 15 November 2023 at 07:45 CET.