Record-breaking performance by Zaptec

The electric vehicle charging company achieved revenue growth of 86% in the
third quarter, compared to the same period in 2022, and surpasses 1 billion NOK
in revenue so far this year. The quarter is the best and signifies impressive
growth for the company. 
 
"We are very pleased to achieve these results in today's market," says Acting
CEO and CFO of Zaptec, Kurt Østrem. 

"The growth we have achieved reflects our dedicated employees and our ability to
adapt to a temporarily challenging market with low new car sales. I expect the
flattening we currently see in electric car sales to be temporary, and we are
well prepared for the coming year." 

According to the CEO, electric car sales are a megatrend that cannot be
reversed. 

"We focus on delivering quality products, and we continue with thorough product
testing as evidence that safety is a top priority at Zaptec. We address a
temporarily challenging market with a flexible production volume, strong
liquidity, and clear cost control. With this, we are positioned for further
growth in a market with a megatrend here to stay." 

Strong order intake of 326 million NOK, which is 37% higher than in the same
period the previous year. The company also has an order reserve of 483 million
NOK while production ramped up. 

Zaptec delivered a record-high quarterly EBITDA of 53 million NOK, an increase
of 253% compared to the third quarter of 2022.

o	1 billion NOK revenue YTD milestone reached
o	All time high quarterly revenue of 421 mill NOK, 86% above Q3 2022 
o	Continued strong order intake of 326 mill NOK, 37% above Q3 2022 
o	Order backlog of 483 mill NOK
o	Production ramp-up delivered according to plan
o	Gross margin of 41%
o	Strong EBITDA of 53 mill NOK, up 253% from Q3 2022

Please refer to the attached Q3 2023 report and presentation for further
details. 


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 large number of
charging points at a low cost and includes Zaptec Pro, Zaptec Go, Charge365
payment services, 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.