Zaptec ASA on Wednesday reported record revenue and a near-doubling of order intake in the second quarter of 2026, reflecting accelerating demand for electric vehicle charging solutions across Europe.
The Oslo-based company posted revenue of 506 million Norwegian kroner in Q2 2026, up 32% from 383 million kroner in the same period last year. Order intake surged 94% to 894 million kroner, while the order backlog climbed 97% year-over-year to 1.12 billion kroner. EBITDA increased 57% to 69 million kroner, lifting the EBITDA margin to 14% from 6% in Q2 2025.
Gross margin remained stable at 40.7%, recovering from a low of 34.6% in Q2 2023. Operating expenses as a percentage of revenue declined to 30.4%, down from 34.2% in Q1 2024. Inventory stood at 144 million kroner, below the company’s target range of 200–300 million kroner. The firm paid 175 million kroner in dividends during the quarter, equivalent to 2 kroner per share.
Zaptec maintained its position as Europe’s leading AC charging provider with a 10% market share, according to LCP Delta research. Competitors Ohme and Easee each held 7% of the market, while others ranged between 3% and 5%. Monthly installations reached 23,193 units in June 2026, a 45% increase year-over-year, equating to roughly 1,000 chargers installed daily.
Revenue from Tier 1 expansion markets—Germany, the UK, and France—rose 32% to 30 million kroner. Regionally, Benelux revenue jumped 117% year-over-year, while Sweden and Norway grew 26% and 2%, respectively. The company also highlighted operational progress, with a new manufacturing line in Hungary scheduled to begin operations in Q3 2026.
The broader European EV market continued to expand, with plug-in vehicle sales up 35% year-over-year in Q2 2026, according to ACEA data. Battery electric vehicles accounted for 24% of new registrations, while plug-ins collectively represented 34%. Zaptec’s internal index showed home-charged EVs delivered 1.5 to 3.0 times more driving range per 10 euros spent compared to petrol vehicles across six major markets. In Norway, 10 euros of home charging enabled 364 kilometers of driving in a VW ID.3, versus 116 kilometers for a petrol Golf.
At quarter-end, Zaptec held 715 million kroner in liquidity, including cash, cash equivalents, and an undrawn 300 million kroner overdraft facility. Shares were up 0.32% at $47.50 following the announcement.
