I personally thought that the weak market conditions might cause revenue to grow only slightly at most, while profitability would still be a mess, so this is a positive surprise. Especially considering those super-quarters in early 2023 in terms of orders, not bad at all.
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Good performance in a difficult market. Zaptec is now taking market share from its competitors quite clearly.
In my opinion, itâs good if the CEO carousel of recent years has come to an end and the current CEO â the former CFO â has brought discipline to the financial management. This is emphasized in the current market situation. But at the same time, 2025 could already see a good turn in the market in a positive direction. Interest rates are coming down in the main markets, which will certainly help.
I donât really see any more triggers for the share price to continue in a clear downward trend; on the contrary, 2025 is almost here, so the stock could start discounting a turnaround. Of course, there is no reason to celebrate yet, but things look clearly better. I returned as a Zaptec shareholder today.
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Zaptecâs market cap is around âŹ85M+ at the moment. I think the worst of the slump is now behind us. Having followed the industry for years, Iâd say Zaptec has the best products in the AC space. The charging stations comply with standards regarding, for example, residual current protection and energy meters; they have a good set of smart features, they are easy to install, and the brand is sleek. If you compare Zaptec to Webasto, Garo, Defa, Wallbox, and others, Zaptec is the best of the bunch. The only drawback is native OCPP, meaning integrations go through Zaptecâs cloud service. But thatâs generally how it works with most other manufacturers as well.
I have been following the company since 2022 and now seems like a good time to make my first purchases.
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Read the thread from the beginning before you make any decisions, just a recommendation 
. Signed, my own position is -75%, or never mind.
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So far, quite a good start. Letâs see how it progresses.
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Zaptec has been the largest or second-largest holding in my portfolio for about 3 years now.
Itâs certainly been an emotional rollercoaster. The price tag for my first batch was apparently 62.5 NOK, and I remember those times when there was talk of a target price of 90 NOK or more.
Now my average cost is 23 NOK, and I intend to keep adding at prices below 20.
The electrification of motoring seems inevitable, and Europe is at the forefront of the implementation phase. It wonât happen in five, or even ten years, but it is ahead of us.
In my opinion, Zaptec has a good product and they have expanded their operations in Europe sensibly.
Once the instability in Europe and the world calms down and the economy stabilizes, Iâm sure EV sales will start to grow again.
At the state level, there will likely be some small incentives (carrots) for purchasing electric cars again during better times.
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Although indirectly related to the topic, those Norwegian sales figures for fully electric vehicles are staggering again!
Soon 100% of new cars sold will be electric.
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At least hitting the bottom didnât succeed 
-22% in a week without any news.
I understand that the sample size is almost non-existent, but it seems that very few Finnish home chargers are using Zaptec
There has indeed been some news, at least https://x.com/gozaptec/status/1831595259337318736 meaning regulatory approvals have been obtained in Poland and sales can begin 
It seems recession fears and other factors are just carrying more weight at the moment.
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Another small target price cut from Pareto, 14 â 13 NOK
Strange timing to be fine-tuning a week before the earnings report
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Well, looking at history, itâs unlikely⊠weâll see soonâŠ
Luvuilla ei pÀÀstĂ€ mĂ€ssĂ€ilemÀÀn, âtorjuntavoittoâ (huom. en tiedĂ€ missĂ€ markkinaodotukset meni?), mutta kvalitatiivisesti arvioiden kvartaalin aikana on tapahtunut paljon positiivistakin:
Some highlights from the quarter include:
- We completed our first sale through Spirii to France,
marking an important indicator that reflects the growth of
our international agreements, as announced earlier this
year. - In the UK, we secured significant deals, including a
partnership with Rexel, one of the largest wholesalers
in the built environment channel. During this period,
we also celebrated our biggest-ever order, a clear sign
that momentum is building. - The Polestar partnership continues to expand, with
increased visibility in Germany, Austria, Spain, Finland,
and Switzerland. - Our first sales in Italy marked a significant milestone
for Zaptec in this growing market. - In Poland, we achieved certification from the Polish Office
of Technical Inspection (UTD), which confirms the safety
and reliability of our products and allows us to offer public
charging solutions in the market. - Additionally, in Q3, electric vehicles outnumbered petrol
cars on the roads in Norway, with over 754,000 EVs in
circulation. As a Norwegian company, we take great pride
in this. This milestone is a testament to the countryâs
journey towards full electrification, and weâre excited
to see which European country will follow our lead.
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Marketscreenerâs forecasts were 380m in revenue and 27m EBITDA⊠not much to say about that. Zaptec is the last 2021-2022 mega-loss stock in my portfolio (-65% with a sizeable position, and still a medium weighting) and it might be that after today it wonât be there anymore, no matter how much they promise a better 2025. Having learned from the past, I certainly wonât be adding on the dip.
Last yearâs Q3 was, if I recall correctly, exceptionally good due to a large backlog, when revenue was 421m and EBITDA was 53m according to Marketscreener.
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ABG, with its 25 SEK target price, was much better on the mark regarding the figures than the rest of the market; they predicted 304 million in revenue and 7m EBITDA. This quarter was weak (mainly due to the poor market?), even though installation market share is at record levels.
The coming year looks so promising in every way that one would certainly be selling at the bottom if words are turned into actions. There is, of course, always uncertainty in such promises 
Many are likely so disappointed, both operationally and with the presumably continuing gloom in the share price, that the bottom is still being tested.
Edit: https://www.reuters.com/business/autos-transportation/global-ev-sales-up-35-october-europe-ekes-out-gain-2024-11-13/ according to this recent article, July and especially August were really weak in Europe. If September-October volumes are closer to future sales volumes, one would think this Q3 report is indeed the operational rock bottom.
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Plugâs sales in the EU have been quite weak during Q3, which naturally reflects in the figures. Most importantly, however, is the growth in market share alongside positive operating cash flow. Finally, the massive excess inventories are being cleared, improving the cash position and thereby reducing risks related to various liquidity issues. The topline doesnât give cause for celebration, but other operational performance, good operating cash flow, and new partnerships provide a solid foundation for upcoming quarters. So, this wasnât really that much of a farce.
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Has anyone else managed to access the Q3 âVideo presentationâ through some channel? I wonder why they arenât holding a webcast / audiocast with a Q&A 
I managed to get it working on my mobile from here:
Directly under the âGet our latesr Q3 reportâ section.
Oh lord, I didnât realize it was a video since it was such a massive edge-to-edge image on the computer screen 
Thanks, it really does seem to start playing.
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Zaptec Go won Autobildâs charger test. A good sign for the German market.
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