Zaptec ASA: Outperforming on the back of significant revenue growth, increased
order intake, and visibility through strong backlog and financial flexibility

Zaptec reports robust financial results for the fourth quarter of 2023,
underscoring the company's outperformance in a challenging market landscape.

"As we reflect on our latest quarter, I am glad to announce the continuation of
our growth story, where we continue to increase revenue and capture market
shares. Further, export revenue increased, marked by a notable increase compared
to the fourth quarter of last year. This signifies Zaptec's expanding presence
and proves an increasing market share in Europe, even though EV charging
manufacturers in general are experiencing challenging times", says Kurt Østrem,
interim CEO of Zaptec.

Order intake has experienced a notable upward trend. Despite the volatile
electric vehicle market, Zaptec's ability to increase the order intake signifies
the company's adaptability and strength in navigating a complex industry
environment.

Zaptec continues to invest for the future, by preparing for several upcoming
product releases targeting the European mass market. The strategic investment in
marketing initiatives has yielded positive outcomes including increased order
intake and reinforcing the company's brand visibility.

o 1.4 billion NOK revenue in 2023, 94% annual growth
o Continued substantial quarterly revenue of 408 mill NOK, 70% growth vs Q4 2022

o Order intake of 362 mill NOK, up 11% vs last quarter and 31% above Q4 2022
o Order backlog of 451 mill NOK
o Gross margin of 37%
o Opex of 158 mill NOK
o EBITDA of -8 mill NOK
o Secured additional financial flexibility by 230 mill NOK increased credit
facility

Q4 2023 report and presentation attached. 
Note that historical numbers are restated, please refer to the attached report
note 15.


For more information: 
Kurt Østrem, Acting CEO and CFO, Zaptec ASA
Tel: + 47 40 40 47 00, e-mail: kurt@zaptec.com

Kristian Sæther, Finance Director & IR, Zaptec ASA
Tel: + 47 90 70 85 12, e-mail: investor@zaptec.com

About Zaptec ASA:
Zaptec is a technology company within Electric vehicle (EV) charging systems in
Europe. The company develops EV charging systems for multi and single-family
homes and office buildings. The product portfolio enables many charging points
at a low cost and includes Zaptec Pro, Zaptec Go, Charging columns, Zaptec
Portal, and Zaptec Sense. The company accelerates the electrification of the
transport sector to assist European countries in reducing CO2 emissions from
light-duty cars.