DGAP-News

Compleo Charging Solutions AG successfully raises gross proceeds of EUR 44 million for financing its growth strategy - Seite 2

Assuming full exercise of the Greenshoe Option, the total offer volume amounts to approximately EUR 81 mn. Gross proceeds from the offering attributable to the Company amount to approximately EUR 44 mn. The Company intends to use the envisaged net proceeds to finance its growth strategy.

Georg Griesemann, Co-CEO and CFO of Compleo, comments: "We are proud to have succeeded with our IPO. Thanks to the raised capital, we are now in a position to make the investments necessary to benefit from the current megatrends in our target markets. With our proven track record by delivering over 22,000 charging points in Germany and 3,000 in Europe in the last 11 years, we have built up a strong customer base including 'blue-chips' such as Deutsche Post, Siemens, Telekom and leading German automotive manufacturers. We have already shown the potential for growth this year, with revenues of EUR 14.3 mn after only six months, compared to EUR 15.2 mn for the entire 2019."

Checrallah Kachouh, Co-CEO and CTO of Compleo, adds: "The market for EV-charging solutions is supported by political will and investments, and the increasing popularity of electric vehicles. I am very happy to see that investors agree with us and are ready to back Compleo as a Greentech, which is well positioned to exploit the opportunities that may arise from these trends. Pursuing our growth strategy, we will invest in expansion in the EU, further strengthening our technological leadership through R&D and expansion to a new headquarters. We are looking forward to continuing to enable an emission-free mobility."

The Company plans to use the major part of the net proceeds of the Offering for the product capacity expansion, i.e. the expansion to new locations for production facilities, corporate headquarters and research and development centers and testing facilities as well as investment into working capital. Compleo also intends to use a significant part of the proceeds for the strategic goals of growth through expansion in the European Union ("EU"). Due to regional proximity and market maturity and volume, the Benelux countries, the Nordic countries, France, Italy, Switzerland, Poland and Austria are potential target markets for the Company's expansion strategy. Furthermore, the Company intends to further strengthen its technology leadership through research and development ("R&D"). In the areas of expansion in the EU as well as R&D, the Company may not only use the net proceeds in order to finance its organic growth but may as well acquire other businesses to improve its sourcing and supply functions, know-how, sales activities and service capacities.