At a moment when Europe's electric vehicle transition is moving from aspiration to infrastructure, Zaptec — a Norwegian charging company — has recorded the strongest quarter in its history, with revenues rising 32 percent and order intake nearly doubling. The numbers reflect something larger than a single company's success: they trace the outline of a continent rewiring itself, one charger at a time. Holding the top position in Europe's AC charging market for the second consecutive year, Zaptec is finding that disciplined execution and well-timed capacity expansion can convert a structural shi
Zaptec Posts Record Revenue, Doubles Order Intake as Europe's EV Charging Leader
1,000 chargers installed daily in June alone
Mark
Why does the order book matter so much? Isn't revenue what counts?
Mimi
Order book is future revenue. When Zaptec says it has NOK1.1 billion in backlog, that's work already committed, already paid for in many cases. It tells you demand isn't a question—it's a certainty. Revenue can be lumpy. Order book tells you what's coming.
Mark
The company paid out a dividend while generating cash. That seems risky in a growth business.
Mimi
It would be, if the cash generation were fragile. But generating over NOK100 million in operating cash while paying NOK175 million in dividends means the business is throwing off more cash than it's returning to shareholders. That's a sign of confidence—and it's sustainable only if the underlying business is genuinely strong.
Mark
What about those project delays in the UK and France? Is that a warning sign?
Mimi
It's a speed bump, not a warning. The delays happened in a single quarter. The order book is still growing. The Tier 1 markets still grew 32 percent year-over-year. It's the kind of friction you'd expect in a scaling business, not evidence of structural problems.
Mark
Why is the Hungarian facility such a big deal?
Mimi
It's about cost structure. Right now, Zaptec is managing component inflation and currency headwinds while holding margins above 40 percent. A new facility with modern tooling and local supply chains can push those margins higher without sacrificing volume. It's the difference between growing and growing profitably.
Mark
The company is ranked number one in Europe. What's the competitive threat?
Mimi
The threat isn't from other charging companies—it's from the pace of EV adoption slowing, or from regulatory changes in Germany or France that shift the market. Zaptec's moat is its installer relationships and its position in the largest markets. Those are real, but they're not permanent.
Mark
So what's the story here? Is this a company that's peaked, or one that's just getting started?
Mimi
It's a company in the middle of a structural shift. EV adoption is accelerating, charging infrastructure is the bottleneck, and Zaptec has the orders and the cash to build that infrastructure faster than anyone else in Europe. The question isn't whether it's peaked. It's whether it can keep executing as it scales.
El Pulso
- Order intake nearly doubled to NOK894 million and the backlog now exceeds NOK1.1 billion, giving Zaptec a forward visibility that most manufacturers can only envy.
- Project delays in the UK and France introduced friction in the quarter, a reminder that even market leaders must navigate the uneven pace of infrastructure rollout across different regulatory environments.
- Despite a stronger Norwegian krone and rising component costs squeezing from both sides, gross margins held firm above 40 percent — a signal that design improvements and manufacturing discipline are doing real work.
- The company installed roughly 1,000 chargers per day in June alone — a 45 percent year-over-year increase — translating strategic positioning into physical, field-level reality.
- A new Hungarian production facility set to open in Q3 2026 represents the company's next calculated move: expanding capacity while engineering the cost efficiencies needed to defend margins at scale.
At a moment when Europe's electric vehicle transition is moving from aspiration to infrastructure, Zaptec — a Norwegian charging company — has recorded the strongest quarter in its history, with revenues rising 32 percent and order intake nearly doubling. The numbers reflect something larger than a single company's success: they trace the outline of a continent rewiring itself, one charger at a time. Holding the top position in Europe's AC charging market for the second consecutive year, Zaptec is finding that disciplined execution and well-timed capacity expansion can convert a structural shift into durable commercial momentum.
Zaptec, the Norwegian charging infrastructure company, posted the strongest quarter in its history in Q2 2026 — NOK506 million in revenue, up 32 percent year-over-year, alongside record EBITDA of NOK69 million. The results arrive at a moment of genuine acceleration in Europe's electric vehicle market, and the company appears to be moving in step with it.
What stands out beyond the revenue figure is the momentum behind it. Order intake nearly doubled to NOK894 million, and the backlog now surpasses NOK1.1 billion. On the ground, Zaptec was installing around 1,000 chargers daily in June — a 45 percent increase from the prior year. This is not a forecast; it is infrastructure already in the field.
Zaptec holds the leading position in Europe's AC charging market for the second consecutive year. Its core strength lies in Germany, France, and the United Kingdom, where combined revenue grew 32 percent. The quarter was not without friction — project delays in the UK and France temporarily slowed momentum — but the broader European EV market, with plug-in sales up roughly 35 percent year-over-year, continues to pull demand forward.
Financially, the company is managing its growth with care. Gross margins held at 40.7 percent despite a stronger Norwegian krone and rising component costs. Operating cash flow exceeded NOK100 million, and the company still paid out a NOK175 million dividend without straining its liquidity — a combination that signals genuine confidence from management.
The next chapter is already in motion. A new production facility in Hungary is scheduled to come online in Q3 2026, designed to expand capacity and unlock cost efficiencies that will help protect margins as the business scales. The Benelux region is also emerging as a new growth engine. For now, Zaptec's trajectory — in order books, in installations, and in cash generation — points unmistakably upward.
Zaptec, the Norwegian charging infrastructure company, just posted the strongest quarter in its history. In the second quarter of 2026, the company pulled in NOK506 million in revenue—a 32 percent jump from the same period last year—and reported record earnings before interest, taxes, depreciation, and amortization of NOK69 million. The numbers tell a story of a company hitting its stride at precisely the moment Europe's electric vehicle market is accelerating.
What's most striking is not just the revenue but the velocity behind it. Order intake nearly doubled to NOK894 million, and the backlog now exceeds NOK1.1 billion, giving the company visibility into future quarters that most manufacturers would envy. The order book is substantial enough that Zaptec can plan with confidence. On the ground, the company installed roughly 1,000 chargers daily in June alone—a 45 percent increase year-over-year. That's not a projection or a target. That's actual hardware moving into the field, actual customers plugging in vehicles, actual infrastructure being built.
Zaptec holds the top position in Europe's AC charging market for the second consecutive year, according to rankings by LCP Delta. The company's strength is concentrated in what it calls Tier 1 markets: Germany, France, and the United Kingdom. Revenue in those three countries grew 32 percent compared to last year, though the quarter saw some friction. Project delays in the UK and France slowed momentum temporarily, even as Germany continued its strong run. The broader European EV market is moving fast—plug-in vehicle sales across the continent jumped roughly 35 percent year-over-year—and Zaptec is positioned to capture that growth through its installer network and distribution relationships.
The financial picture is disciplined. Gross margin held steady at 40.7 percent despite two significant headwinds: a stronger Norwegian krone and rising component costs. The company is managing these pressures through design improvements and manufacturing efficiencies. Operating expenses, while still substantial, are shrinking as a percentage of revenue as the business scales. The company generated over NOK100 million in operating cash flow during the quarter and still had room to pay out a NOK175 million dividend—NOK2 per share—without straining liquidity. That combination of cash generation and shareholder returns suggests management confidence in the underlying business.
The next phase of growth is already taking shape. A new production facility in Hungary is scheduled to begin operations in the third quarter of 2026. This facility will expand manufacturing capacity and unlock long-term cost efficiencies that should help Zaptec defend its margins as it scales. The company is also watching the Benelux region—Belgium, Netherlands, Luxembourg—as an emerging growth engine. CEO Kurt Ostrem has emphasized that the company's strategic priorities remain consistent: expand in the largest EV markets, invest in technology and product integration, and maintain gross margins through design and operational excellence.
The earnings call revealed a company executing against a clear thesis. Europe is moving toward mass EV adoption. That transition requires charging infrastructure at scale. Zaptec has the market position, the order book, and the cash generation to be the primary beneficiary of that shift. The Hungarian facility coming online in Q3 will be the next test of whether the company can maintain its margins and installation pace as it grows. For now, the trajectory is unmistakably upward.
Citas Notables
Zaptec was ranked as Europe's leading AC charging provider by LCP Delta for the second consecutive year— CEO Kurt Ostrem
Gross margin remained above 40% at 40.7%, despite a stronger NOK and component-related cost pressures— CFO Eirik Haerem
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