The Electric Company reports first financial year
Press release: Annual report 2025
Written by
CEO
The Electric Company Europe AB today reports its first financial results for the period July 8, 2024 – December 31, 2025.
The company, which operates within distribution of spare parts, technical support, and aftermarket services for small electric vehicles, reports net revenue of SEK 5.5 million and a positive net result of SEK 224 thousand for the period.
During the financial year, the company established the digital platform www.cakeservice.co, which is used for the sale of spare parts and related technical support connected to CAKE’s product platform both B2B and D2C.
Operations and development
During the period, the company has made investments in its warehouse and established the online customer service and sales as a center of its operations. The company also made significant investments in inventory to ensure availability of parts for the next 5-10 years.
The company operated with a core team of two people while supporting customers in more than 30 countries and managing over 1,000 technical support interactions during the period.
"With a tiny team, AI-enabled workflows in combination with classic elbow grease allowed us to operate at a scale that would traditionally require a team five times larger,” says Stefan Backlund, CEO
Key figures (2024/2025)
Net revenue: SEK 5,508,314
Operating profit: SEK 289,730
Net profit: SEK 224,537
“It was an intense first year in operation. Our initial expectation was lower than the final result but we continuously raised the bar for ourselves and we came out on top. A true team effort and not a bad result for two guys and a dog.” says, Stefan Backlund
Outlook
The company intends to further develop its operations within spare parts distribution and technical support, with a focus on scalable processes and partnerships with manufacturers and operators within electrified vehicle segments.
Demand for the company’s services is expected to be influenced by increasing electrification of vehicle fleets, driven by regulatory requirements in multiple markets as well as changing cost dynamics related to fossil fuels.
built an inventory of approximately 950 SKUs
handled more than 1,000 service cases
delivered to customers in over 30 countries
The Electric Company reports first financial year
Press release: Annual report 2025
Written by
CEO
The Electric Company Europe AB today reports its first financial results for the period July 8, 2024 – December 31, 2025.
The company, which operates within distribution of spare parts, technical support, and aftermarket services for small electric vehicles, reports net revenue of SEK 5.5 million and a positive net result of SEK 224 thousand for the period.
During the financial year, the company established the digital platform www.cakeservice.co, which is used for the sale of spare parts and related technical support connected to CAKE’s product platform both B2B and D2C.
Operations and development
During the period, the company has made investments in its warehouse and established the online customer service and sales as a center of its operations. The company also made significant investments in inventory to ensure availability of parts for the next 5-10 years.
The company operated with a core team of two people while supporting customers in more than 30 countries and managing over 1,000 technical support interactions during the period.
"With a tiny team, AI-enabled workflows in combination with classic elbow grease allowed us to operate at a scale that would traditionally require a team five times larger,” says Stefan Backlund, CEO
Key figures (2024/2025)
Net revenue: SEK 5,508,314
Operating profit: SEK 289,730
Net profit: SEK 224,537
“It was an intense first year in operation. Our initial expectation was lower than the final result but we continuously raised the bar for ourselves and we came out on top. A true team effort and not a bad result for two guys and a dog.” says, Stefan Backlund
Outlook
The company intends to further develop its operations within spare parts distribution and technical support, with a focus on scalable processes and partnerships with manufacturers and operators within electrified vehicle segments.
Demand for the company’s services is expected to be influenced by increasing electrification of vehicle fleets, driven by regulatory requirements in multiple markets as well as changing cost dynamics related to fossil fuels.
built an inventory of approximately 950 SKUs
handled more than 1,000 service cases
delivered to customers in over 30 countries
The Electric Company reports first financial year
Press release: Annual report 2025
Written by
CEO
The Electric Company Europe AB today reports its first financial results for the period July 8, 2024 – December 31, 2025.
The company, which operates within distribution of spare parts, technical support, and aftermarket services for small electric vehicles, reports net revenue of SEK 5.5 million and a positive net result of SEK 224 thousand for the period.
During the financial year, the company established the digital platform www.cakeservice.co, which is used for the sale of spare parts and related technical support connected to CAKE’s product platform both B2B and D2C.
Operations and development
During the period, the company has made investments in its warehouse and established the online customer service and sales as a center of its operations. The company also made significant investments in inventory to ensure availability of parts for the next 5-10 years.
The company operated with a core team of two people while supporting customers in more than 30 countries and managing over 1,000 technical support interactions during the period.
"With a tiny team, AI-enabled workflows in combination with classic elbow grease allowed us to operate at a scale that would traditionally require a team five times larger,” says Stefan Backlund, CEO
Key figures (2024/2025)
Net revenue: SEK 5,508,314
Operating profit: SEK 289,730
Net profit: SEK 224,537
“It was an intense first year in operation. Our initial expectation was lower than the final result but we continuously raised the bar for ourselves and we came out on top. A true team effort and not a bad result for two guys and a dog.” says, Stefan Backlund
Outlook
The company intends to further develop its operations within spare parts distribution and technical support, with a focus on scalable processes and partnerships with manufacturers and operators within electrified vehicle segments.
Demand for the company’s services is expected to be influenced by increasing electrification of vehicle fleets, driven by regulatory requirements in multiple markets as well as changing cost dynamics related to fossil fuels.
built an inventory of approximately 950 SKUs
handled more than 1,000 service cases
delivered to customers in over 30 countries
We build what powers the shift.
Infrastructure for iconic electric machines.
Building and scaling electric infrastructure across brands, distribution and service.
We build what powers the shift.
Infrastructure for iconic electric machines.
Building and scaling electric infrastructure across brands, distribution and service.
We build what powers the shift.
Infrastructure for iconic electric machines.
Building and scaling electric infrastructure across brands, distribution and service.