Overview

• Sweden-based battery charger maker's Q4 net sales fell due to ended GM cooperation

• Gross margin for Q4 increased significantly to 63.2%

• Operating cash flow for Q4 rose to 131 MSEK, strengthening financial position

Outlook

• Company preparing for additional product launches within EVSE early this year

• CTEK continues to strengthen market position in Low Voltage segment

Result Drivers

• ENDED GM COOPERATION - Revenue decline attributed to the ended cooperation with General Motors, negative currency effects, and weaker North American market

• PRODUCT LAUNCHES - Launched new products in Low Voltage and preparing for additional launches in EVSE

• INCREASED GROSS MARGIN - Gross margin increased significantly, contributing to strengthened financial position

Key Details

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 89.8% above its February 5 closing price of SEK12.38

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

Press Release: ID:nWkr1tZtHv

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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.)