Zaptec Q3 revenue rises to record high on installation activity
Zaptec Q3 revenue rises to record high on installation activity
Overview
Norway EV charging firm's Q3 revenue rose 39% yr/yr to record high
Q3 EBITDA nearly tripled yr/yr, gross margin reached 41%
Order backlog at end-Q3 was 886 mln NOK, reflecting robust demand
Outlook
Company did not provide specific guidance for future quarters or full-year results in the press release
Result Drivers
EV ADOPTION - Co said accelerating electric vehicle adoption supported revenue growth
INSTALLATION ACTIVITY - Record installation activity contributed to higher revenue, per company
PARTNERSHIPS - Expanding ecosystem partnerships contributed to growth, according to CEO
Company press release: ID:nObiwxtSWa
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Gross Margin |
| 41.00% |
|
Q3 EBITDA |
| NOK 60 mln |
|
Q3 Order Backlog |
| NOK 886 mln |
|
Q3 Orders |
| NOK 288 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "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 Zaptec ASA is NOK66.00, about 6.6% above its November 3 closing price of NOK61.90
The stock recently traded at 23 times the next 12-month earnings vs. a P/E of 22 three months ago
Reuters Recommended Reads
Nov 2 - Tesla new registrations in Norway rise 131% year-on-year in October
Nov 3 - European cities could cut EV grid bill by 40% with smart charging, study says
Nov 3 - Norway's Multiconsult Q3 EBITA drops on restructuring costs
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(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.)