DGAP-News

Compleo reports dynamic growth course

DGAP-News: Compleo Charging Solutions AG / Key word(s): Development of Sales Compleo reports dynamic growth course 18.01.2021 / 07:30 The issuer is solely responsible for the content of this announcement. Compleo reports dynamic growth course

Revenues up more than 100% | Launch of further product innovations in 2021 planned | Additional 5,100 m² of production space rented | Dynamic growth course set to continue in 2021

Dortmund, 18 January, 2021 - Compleo Charging Solutions AG, a leading provider of charging solutions for electric vehicles looks back on a successful 2020 financial year. Preliminary unaudited figures show that Compleo's growth rate continued unabated in the fourth quarter of 2020. The company achieved its growth target for 2020, doubling total annual revenues compared to the previous year. This highly positive development is due, among other, to the launch of the new Cito series charging stations in the first quarter of 2020. The Cito charging stations were specially developed to satisfy the requirements of logistics and corporate fleets as well as car dealerships and offer efficient and scalable load management.

As Georg Griesemann, co-CEO of Compleo, remarks happily: "2020 was a very good year for Compleo and we were able to turn market dynamics to our advantage. We more than doubled our revenues to over EUR 31 million. Our aim is to become a leading provider of EV charging solutions in Europe and we intend to consistently pursue our growth strategy in 2021. We therefore take a very optimistic view of operations development in the current year. We will continue to expand our existing AC and DC solution business in Germany and in other European countries in particular In addition, we again have a well-filled pipeline with innovative new products that we will introduce to the market in 2021."

In the first quarter of 2021, for instance, Compleo plans to bring out smart wallbox charging stations in line with calibration law. This will be followed at the end of the year by the sales start of HPC (high-power charging) stations. In order to meet the high demand for Compleo solutions anticipated on domestic and foreign markets, in addition to its existing 2,600 m² facility, 5,100 m² of extra production and logistics space has been rented, which will be available to the company in February 2021.