Noticia

NÜRTINGEN, Germany – May 11, 2023
Full-Year 2022 operational highlights

• Successfully managed supply chain issues and produced systems and performed services from the factory worth €45.6M
• New ultra-fast charging system, ChargePost, was successfully launched in December 2022, as planned
• Focus on blue-chip partners and strategic customers, including GP-Joule together with Mobilize Power Solutions, a subsidiary of Groupe Renault aimed at expanding the EV fleet charging market, and amperio GmbH, who have ordered their first 100 ChargePosts

Full-Year 2022 financial highlights

• Consolidated revenue of €26.4M, compared to €33.0M in FY21, impacted by clients not taking product by 12/31; finished goods still in the company’s Alabama facility and moved to 2023
• Operational expenses of €33.0M (2021: €15.3M)
• EBITDA of €-32.1M (2021: €-15.2M)
Year-end cash of €34.4M

2023 outlook

• 2023 full year revenues expected to exceed €100M
• Expecting to be EBITDA break-even to positive in FY 2023
• Secured shareholder loan of €12.9M; no intention to raise equity in foreseeable future
• Strong order backlog of €90.0M based on binding orders mainly from solid customers underpinning revenue visibility
• Substantial growth anticipated in 2024 and beyond, driven by very strong customer dynamics and market trends

Thomas Speidel, CEO of ADS-TEC Energy, said: “We are at the beginning of a major transformation, focusing on well-funded, blue-chip customers with very ambitious growth plans. These customers and partners highly appreciate the managed eco-platform business provided by ADS-TEC Energy combined with long-term services optimizing the Total Cost of Ownership and securing their business cases.

The combination of a growing, high-quality customer base with the need for infrastructure operators to balance demand across their grids will enable us to substantially scale our platform. I am confident that we are well-positioned to capitalize on very strong customer demand and positive market trends in 2023 and beyond.”

Momentum in 2023

• New order from a first-class international corporation in the range of €5M. ChargeBoxes and ChargePosts delivered in 2023 will offer ultra-fast charging at sites in Europe and North America.
• Service business will grow in 2023. Long term service agreements are expected to be signed with existing customers as well as with new platform partners. The value of ADS-TEC Energy’s physical and digital services to optimize the total cost of ownership are highly appreciated.
• ADS-TEC Energy partner JOLT Energy recently completed a large funding round of €150M led by InfraRed Capital Partners and has placed an initial order for a significant double-digit number of ChargePosts for 2023. As announced by JOLT Energy on May 5, 2023, its plan is to deploy 1,000 charge-points in Europe within the next 18 months.
• ADS-TEC Energy continues to explore new market segments for its technology. Initial systems are ordered by and will be shipped to one of the biggest car rental companies in Europe and to one of the leading mail-order courier companies worldwide.
• ADS-TEC Energy has signed a framework agreement with a blue-chip listed oil & gas petrochemical company.
2024 outlook

Existing customers and partners are forecasting and expecting to significantly increase their revenues in 2024, which confirms the strong momentum and growth for ADS-TEC Energy business.

• Conference Call Information
Participants may access the call by dialing 1-412-317-5195 or 1-844-826-3035 (US). A live webcast of the call will also be available by clicking here. Please log in approximately 5-10 minutes prior to the scheduled start time.

A replay of the call will be available for two weeks by dialing 1-844-512-2921 for US callers or 1-412-317-6671 for international callers and using Conference ID: 10178618. The archived webcast will be available in the Investor Presentations and White Papers section of the company's website.

• 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: ADS-TEC-energy.com