DGAP-News

Compleo Charging Solutions AG continues on its dynamic growth course in third quarter of 2020 - Seite 2

At the same time, profitability in the first nine months of 2020 improved compared to 2019 due to efficiency gains. This was possible despite the increase in personnel, particularly in sales and administration. Earnings before interest, taxes, depreciation and amortisation (EBITDA) adjusted for non-recurring effects^[1] improved by 57.6 percent to EUR -0.8 million (previous year: EUR -1.9 million). This equates to an adjusted EBITDA margin of -3.4 percent (previous year: -16.5 percent).

"Thanks to its growing popularity, electric mobility is experiencing very dynamic momentum, as a result of which the public charging infrastructure in Germany as well as in the EU will have to be greatly expanded in the years to come. As a greentech company with a clear focus and years of experience with technologically advanced charging solutions, we can benefit from this. Our growth momentum was also clearly reflected in our operating performance in the third quarter. For example, in the first half of the year, we shipped around 500 DC rapid charging stations from the Cito series, and by the end of the third quarter, this figure had risen to more than 1,000. Our DC rapid charging stations are the first DC charging stations in Germany that conform to calibration law, which is a real competitive advantage," commented Georg Griesemann Co-CEO und CFO.

In terms of quantity, AC and DC charging stations were at a similar level in the first nine months, after the share of AC charging stations had been 90 percent the previous year. By the end of the third quarter, AC charging stations thus contributed around 32 percent to total sales, while DC charging stations accounted for 47 percent of total sales in the 2020 reporting period. Compleo expects to see a shift in the product mix in favour of DC rapid charging stations in the coming years.

Compleo will continue the dynamic growth of the first nine months of 2020 in the final quarter. In October 2020, for example, Compleo was awarded the contract for the sale of the Cito 500 rapid-charging stations by a major automotive manufacturer in a bid for tender. The three-year framework agreement has a volume of up to EUR 8.7 million, of which around 40 percent is expected to be called up as early as the fourth quarter of 2020. In line with its growth strategy, Compleo also continued its expansion into other European countries by entering the Swiss market in the fourth quarter. To this end, Compleo is cooperating with DISA Elektro AG, a company based in central Switzerland that is responsible for local sales as well as customer consulting and maintenance of Compleo's charging solutions.