NÜRTINGEN, Germany--(BUSINESS WIRE)--Oct 26, 2023--
ADS-TEC Energy (NASDAQ: ADSE), a global leader in battery-buffered, ultra-fast charging technology held its virtual Capital Markets Day today. The management team of ADS-TEC Energy, consisting of Thomas Speidel (Founder and Chief Executive Officer), Michael Rudloff (Chief Operating Officer) and Wolfgang Breme (Chief Financial Officer), gave an update on technology and order status as well as an outlook to 2024.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20231026212393/en/
ADS-TEC Energy provided highlights from its virtual Capital Markets Day on Oct. 26, 2023. (Photo: Business Wire)
The key highlights at a glance:
ADS-TEC Energy Technology: Best-in-Class
- Technology has been developed over more than a decade
- More than 1,400 battery-based DCFC charging points produced and sold
- Product has been proven by real operating data from clients
- Exceeding customers’ expectations at very high-utilized sites
Growth
- Revenue forecast of more than €100 million (+400%) for 2023 confirmed
- Well-funded customer base
- Increasing number of blue-chip clients
- Based on customers’ forecasts and projections, sales are expected to double in 2024
- Available and established production capacity to follow the growth
- Q3 will be a record quarter in the company‘s history
Profitability
- Expected EBITDA positive in Q4/2023
- Incremental margin improvements driven by high added values for clients
- Service revenues about to begin, following our platform strategy
- Improving purchasing, optimization of production processes, using volume impact
- Continuous improvement of processes in purchasing, logistics and production and economies of scale in the wake of strong sales growth
The detailed presentation is available for download on the website: https://www.ads-tec-energy.com/unternehmen/investoren
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: https://www.ads-tec-energy.com/en/
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 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/20231026212393/en/
CONTACT: Media:
For ADS-TEC Energy Europe:
Dennis Müller
SVP Product Marketing & Communication
press@ads-tec-energy.comFor ADS-TEC Energy United States:
Stephannie Depa
Breakaway Communications
sdepa@breakawaycom.com
+1 530-864-0136
KEYWORD: IRELAND EUROPE GERMANY
INDUSTRY KEYWORD: PROFESSIONAL SERVICES OTHER ENERGY TECHNOLOGY OTHER TECHNOLOGY ENERGY FINANCE
SOURCE: ADS-TEC Energy
Copyright Business Wire 2023.
PUB: 10/26/2023 04:21 PM/DISC: 10/26/2023 04:22 PM
http://www.businesswire.com/news/home/20231026212393/en
