Sweden's CTEK Q1 sales fall 12%, EV charger review starts

CTEK AB (publ)

06/05/2026 07:11

Overview

Sweden battery charging firm's Q1 net sales fell 12% yr/yr, adjusted EBITA unchanged

Gross margin improved to 61.7% from 56.4%

Company began strategic review of EVSE business amid continued weak charger sales

Outlook

Company says continued growth in Consumer division strengthens outlook for coming quarters

CTEK has initiated a strategic review of its EVSE business due to weak sales

Company plans to concentrate resources on profitable Low Voltage business for long-term value

Result Drivers

WEAK EV CHARGER SALES - Co said continued weak sales of electric vehicle chargers drove overall sales decline and led to strategic review of EVSE business

CONSUMER DIVISION GROWTH - Co said continued growth in Consumer division and focus on core business supported profitability

Company press release: ID:nWkr8Ctwmm

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Sales
SEK 188 mln
Q1 Adjusted EBITA
SEK 19 mln
Q1 Operating Cash Flow
SEK 61 mln


Analyst Coverage

The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

The average consensus recommendation for the electrical components & equipment peer group is "buy."

Wall Street's median 12-month price target for CTEK AB (publ) is SEK23.50, about 43.5% above its May 5 closing price of SEK16.38

The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 12 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)