EQS-News

ADS-TEC Energy (ADSE) Reports Full-Year Fiscal 2023 Results and Provides Business Update - Seite 2

• Anticipate 2024 full-year revenues to exceed EUR 200 million.
• Expect to be Adjusted EBITDA positive in FY 2024.
• Majority of revenues anticipated to be recognized in 2H 2024 based on current order backlog.
• ADS-TEC's systems boast over 97% uptime, best in class, evidencing successful user cases that accelerate demand from existing customers and onboard new ones.
• Increasingly clear that 50-70 kW chargers are becoming outdated as new EVs can charge at higher speeds. This will lead to a replacement cycle benefiting ADS-TEC, as 50 kW chargers mainly at limited access grids can be easily upgraded with ADS-TEC’s battery-buffered systems, instead of costly conversions.
• Above factors instill confidence in strong momentum in the second half, as well as continued high growth for 2025 and beyond.

Thomas Speidel, CEO of ADS-TEC Energy, commented “I am extremely pleased with our record revenue growth in 2023 and strong guidance for 2024. We had our first EBITDA positive quarter in Q4 2023, and I am confident that this is an inflection point towards EBITDA positive in FY 2024. We are in the midst of a major transformation with continued focus on scaling our platform. Such a huge transformation will not happen without resistance or delays. The winners will be those who persevere, and we are delighted with our strongly growing customer base. The future will be electric that’s for sure. We were able to drive robust growth from both new and existing blue-chip customers. Demand in Europe was very strong in 2023, driven by continued investments in charging infrastructure, which was reflected in the solid performance of our European client base, and we are very confident about our activities in North America, which are being driven by our US team and management. We anticipate this strong demand to continue in 2024 and are very optimistic about our position within the battery buffered charging ecosystem.”

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. The call starts at 8:30 a.m. ET / 14:30 p.m. CET.