Zaptec reported revenue of NOK 512 million for the third quarter of 2026, up 39% year over year, while EBITDA rose to NOK 60 million from NOK 21 million a year earlier. The Norwegian EV charging company presented its results on November 4, describing the quarter as a record for revenue and profitability.
Gross margin improved to 41.2%, compared with 39% in Q3 2025. Operating expenses increased 22% to NOK 151 million, but fell as a share of revenue. On a last-twelve-month basis, EBITDA was NOK 224 million, with an approximately 12% margin.
Zaptec’s order backlog stood at NOK 886 million, 69% higher than a year earlier. Order intake was NOK 288 million for the quarter, down 13% from Q2; over the last 12 months, however, it increased 42%. The company said customer orders are seasonal, with Q2 and Q4 typically its strongest quarters.
Installations also grew: 33,000 Zaptec chargers were installed in September, 43% more than in September 2025. The average monthly installation rate over the past 12 months exceeded 25,000 units.
Revenue growth varied across markets. Benelux revenue increased 196% year over year, while Norway rose 22% and Sweden 15%. In Germany, revenue roughly doubled to NOK 15 million. France remained stable at NOK 8 million. UK revenue fell 43% to NOK 7 million, and Zaptec said interim leadership from its Norwegian business had been appointed to improve commercial execution there.
The company began production at its new facility in Hungary in September. Output is planned to increase from 960 units that month to 15,000 per month by December. With the new site, Zaptec has three manufacturing locations. It also reported that the Zaptec Go 2 received approval for its French variant and met AFIR requirements, ahead of the regulation’s start on January 1, 2027. New integrations with Kraken and Paua extend the company’s platform into utility, energy and fleet-management ecosystems.
Available liquidity was NOK 735 million at quarter-end, up NOK 20 million during the quarter. The figure includes cash, cash equivalents, liquid short-term investments and an undrawn NOK 300 million overdraft facility. Inventory rose 9% quarter over quarter to NOK 157 million as the company rebuilds stock, with a stated target range of NOK 200 million to NOK 300 million.
Zaptec’s presentation also pointed to broader growth in European electric-vehicle sales, which it said rose 42% year over year in Q3 2026. The company highlighted that plug-in vehicles account for 40% of new vehicle registrations in Europe, while only 5% of the region’s total vehicle fleet is electric. It cited projections that Europe’s EV fleet could grow to around 50 million vehicles by 2030, from roughly 10 million today, alongside an increase in AC charge points from 11 million to 32 million.
Sources: Investing.com News.