Q4 2022 report and presentation

New markets launched - European platform established

Otovo’s fourth quarter results are released today.


  • NOKm 205 Total Revenues (IFRS) versus 99 same quarter last year, up 2.1x
  • 2,205 installations versus 1,209 same quarter last year, up 82%
  • 1,826 sales versus 2,066 same quarter last year, down 12%. Pipeline wait times down 1 month, pipeline of 4,654 projects.
  • NOKm 282 Revenue Generated versus NOKm 109 same quarter last year, up 2.6x
  • NOKm 56 Gross Profit Generated versus NOKm 22 same quarter last year, up 2.6x

New markets launched

  • Sales closed in Netherlands, Belgium and Switzerland, marking the end of Otovo’s 6-country launch in 2022 on time and on budget. Now sales are coming from 13 European countries.

Strong outlook

  • Reiterating guiding on at least doubling revenues generated for 1H 23
  • Expecting six countries profitable in first half of this year

Please find attached the quarterly report. The presentation will be held by Andreas Thorsheim (CEO) and Petter Ulset (CFO) on webcast at 09:00 January 25th.