Zaptec, the Norwegian electric vehicle charging provider, reported record quarterly revenue and a sharp increase in order intake for the second quarter of 2026, underscoring robust demand in Europe’s EV charging market.
The company’s Q2 2026 revenue reached 506 million Norwegian kroner, up 32% from 383 million kroner in the same period last year. Order intake surged 94% to 894 million kroner, while the order backlog expanded 97% year-over-year to 1,119 million kroner. Gross margin held steady at 40.7%, despite currency headwinds and rising component costs. EBITDA rose 57% to 69 million kroner, translating to a 14% margin, while operating expenses grew 22% to 137 million kroner, outpaced by revenue growth.
Liquidity remained strong at 715 million kroner at quarter-end, including cash, cash equivalents, short-term investments, and an undrawn 300 million kroner overdraft facility. Inventory levels fell to 144 million kroner, below the company’s 200–300 million kroner target range. A dividend of 175 million kroner was declared, equating to 2 kroner per share.
Installation activity accelerated, with approximately 1,000 Zaptec chargers installed daily in June 2026, a 45% increase from May 2025. Over the past 12 months, the company averaged 23,193 installations per month. Zaptec retained its position as Europe’s leading AC charging provider for the second consecutive year, according to LCP Delta research, holding a 10% market share compared with 7% for competitors Ohme and Easee.
Regional performance varied, with Benelux revenue jumping 117% year-over-year, Sweden up 26%, and Norway growing 2% amid market saturation. Revenue in the UK, Germany, and France combined rose 32% to 30 million kroner, though temporary delays in the UK and France offset gains in Germany.
The broader European EV market expanded, with plug-in vehicle sales up 35% in Q2 2026 versus the prior year. France led growth at 53%, followed by Germany at 40% and the UK at 37%. Plug-in vehicles accounted for 34% of total European vehicle registrations, with battery electric vehicles representing 24%. Zaptec highlighted that home-charged EVs delivered 1.5 to 3.0 times longer driving range for the same cost as petrol vehicles.
Production capacity is set to expand with the launch of a new Sanmina facility in Hungary during Q3 2026, complementing existing operations in Norway and Germany.
