ADS-TEC Energy (ADSE) reports H1 2023 Results and Financial Update
09 8월 2023 - 9:30PM
Business Wire
ADS-TEC Energy plc (NASDAQ: ADSE), a global leader in
battery-buffered, ultra-fast charging technology, today announced
unaudited financials for H1 2023 and is pleased to provide you with
an operational update on the recent financial performance and key
developments for the company.
H1 2023 Financial Highlights
- Revenue of €38.3 million, an increase of 400% compared to H1
2022 and 140% compared to full year revenue for 2022
- Operational Expenses of €17.9 million
- EBITDA of €-17.6 million
- Aims to be EBITDA positive in Q4’23
- Reiterates 2023 guidance of more than €100 million revenue for
2023
- Strong customer growth projection outlook for 2024
We are thrilled to report strong performance in the first half
of 2023. Our revenues for H1'23 exceeded €38.3 million,
representing a growth rate of almost 400% compared to the H1'22
revenues of €9.4 million.
We are delighted to reiterate our revenue guidance for the full
year 2023, expecting to surpass €100 million in total revenue for
end of 2023. Thomas Speidel, CEO ADS-TEC Energy, said: “This
reaffirms our confidence in the strength of our business model,
robust customer demand, and the overall market opportunity. We
remain committed to driving sustainable growth and long-term
shareholder value.”
We are excited about the progress we have made in the first half
of 2023 and the opportunities that lie ahead.
About ADS-TEC Energy
ADS-TEC Energy plc, a public limited company incorporated in
Ireland and publicly listed on NASDAQ (“ADS-TEC Energy”), serves as
a holding company for ads-tec Energy GmbH, our operating company
incorporated in Germany (“ADSE GM”) and ads-tec Energy Inc., a US
subsidiary of ads-tec Energy GmbH (“ADSE US” and together with
ADS-TEC Energy and ADSE GM, “ADSE”). Based on more than ten years
of experience with lithium-ion technologies, ADS-TEC Energy
develops and manufactures battery storage solutions and fast
charging systems including their energy management systems. Its
battery-based, fast charging technology enables electric vehicles
to ultrafast charge even on low powered grids and features a very
compact design. It was most recently nominated by the President of
the Federal Republic of Germany for the German Future Prize and
elevated to the "Circle of Excellence" in 2022. The high quality
and functionality of the battery systems are due to a particularly
high depth of development and in-house production. With its
advanced system platforms, ADS-TEC Energy is a valuable partner for
automotive, OEMs, utility companies and charge-operators.
More information: www.ads-tec-energy.com
Forward-looking Statements
This press release contains forward-looking statements within
the meaning of the “safe harbor” provisions of the Private
Securities Litigation Reform Act of 1995. Words such as “expect,”
“estimate,” “project,” “budget,” “forecast,” “anticipate,”
“intend,” “plan,” “may,” “will,” “could,” “should,” “believes,”
“predicts,” “potential,” “continue,” and similar expressions are
intended to identify such forward-looking statements. These
forward-looking statements include statements regarding our
financial outlook for 2023, our expectations with respect to future
performance and the anticipated timing of certain commercial
activities. There are a significant number of factors that could
cause actual results to differ materially from the statements made
in this press release, including: the impact of the COVID-19
pandemic, geopolitical events including the Russian invasion of
Ukraine, macroeconomic trends including changes in inflation or
interest rates, or other events beyond our control on the overall
economy, our business and those of our customers and suppliers,
including due to supply chain disruptions and expense increases;
our limited operating history as a public company; our dependence
on widespread acceptance and adoption of EVs and increased
installation of charging stations; our current dependence on sales
to a limited number of customers for most of our revenues; overall
demand for EV charging and the potential for reduced demand for EVs
if governmental rebates, tax credits and other financial incentives
are reduced, modified or eliminated or governmental mandates to
increase the use of EVs or decrease the use of vehicles powered by
fossil fuels, either directly or indirectly through mandated limits
on carbon emissions, are reduced, modified or eliminated; supply
chain interruptions and expense increases; unexpected delays in new
product introductions; our ability to expand our operations and
market share in Europe and the U.S.; the effects of competition;
changes to battery energy storage standards; and the risk that our
technology could have undetected defects or errors. Additional
risks and uncertainties that could affect our financial results are
included under “Item 3. Key Information – 3.D. Risk Factors” in our
annual report on Form 20-F filed with the Securities and Exchange
Commission (the “SEC”) on May 11, 2023, which is available on our
website at https://www.ads-tec-energy.com/en/company/invest and on
the SEC’s website at www.sec.gov. Additional information will also
be set forth in other filings that we make with the SEC from time
to time. All forward-looking statements in this press release are
based on information available to us as of the date hereof, and we
do not assume any obligation to update the forward-looking
statements provided to reflect events that occur or circumstances
that exist after the date on which they were made, except as
required by applicable law.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230809981948/en/
Media Contact: For ADS-TEC Energy
Europe: Dennis Müller SVP Product Marketing &
Communication press@ads-tec-energy.com
For ADS-TEC Energy United States:
Stephannie Depa Breakaway Communications sdepa@breakawaycom.com +1
530-864-0136
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