Zaptec delivers 73% revenue growth and continues to invest significantly in
preparations for continued international expansion, future-proof EV charging
software, and a new production line in Germany.  

Peter Bardenfleth-Hansen, CEO of Zaptec: 
 
"During Q3, the uncertainty in the global economy increased as Central Banks'
were fighting high inflation with increased interest rates. This led to a
challenging market with a temporary slowdown in EV sales in our core markets.
However, despite the market headwind, Zaptec delivered strong revenue growth. We
continued to invest significantly in building the organization and preparing for
further expansion. We entered a strategic partnership with Switch EV,
highlighting Zaptec as AC charging frontrunner to explore the full scope of ISO
15118, unlocking seamless charging and bi-directional charging possibilities.
Another highlight was production - both through successful test production at
Sanmina's factory in Germany and a significant ramp-up at Westcontrol. Going
forward we remain committed to delivering on our growth ambitions, changing the
world with our cutting-edge, safe, high-quality EV charging solutions. "


Highlights from Q3 2022: 

o Strong revenue growth of 73% to 226 MNOK and 58% increase in order intake to
233 MNOK compared to Q3 2021 

o Continued international expansion including the opening of a subsidiary in the
Netherlands. The export share increased to 70% vs 56% in Q3 2021 

o Gross margin of 38.8% and EBITDA of 14.9 MNOK 

o Electrification continues to be a predictable megatrend with increasing EV
adoption in all markets, however EV sales weakened in some countries as the
macroeconomic outlook worsened 

o Launched software prototype with Plug&Charge functionality for seamless
charging (without credit card/app) and future-proof vehicle-to-grid (V2G)
capability 

o Successful Sanmina test production and ramp-up of production at Westcontrol,
combined with components sourced to deliver significant growth. 


Please refer to the attached report, presentation and restatet annual accounts
for 2021 according to IFRS for further details.


For more information: 
Peter Bardenfleth-Hansen, CEO, Zaptec AS 
Tel: +47 40 10 31 78, e-mail: pbh@zaptec.com 

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

About Zaptec: 
Zaptec AS 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.