Outperforming on the back of significant revenue growth

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.


• 1.4 billion NOK revenue in 2023, 94% annual growth

• Continued substantial quarterly revenue of 408 mill NOK, 70% growth vs Q4 2022

• Order intake of 362 mill NOK, up 11% vs last quarter and 31% above Q4 2022

• Order backlog of 451 mill NOK

• Gross margin of 37%

• Opex of 158 mill NOK

• EBITDA of -8 mill NOK

• Secured additional financial flexibility by 230 mill NOK increased credit facility

For more information, download Zaptec’s Q4 report.