DGAP-News

Voltabox in the Light of Business Transformation - Refocusing to be Completed in 2021

DGAP-News: Voltabox AG / Key word(s): Preliminary Results Voltabox in the Light of Business Transformation - Refocusing to be Completed in 2021 27.04.2021 / 07:00 The issuer is solely responsible for the content of this announcement. Voltabox in the Light of Business Transformation - Refocusing to be Completed in 2021

- Preliminary full-year results for 2020 in line with recently issued expectations, targeted EBITDA margin significantly exceeded

- Marketing of FSD technology proceeds dynamically as planned - first sample orders and successful contact initiation with several potential licensees

- Management Board sets conservative expectations for fiscal year 2021

Delbrück, Germany, April 27, 2021 - For Voltabox AG [ISIN DE000A2E4LE9], the 2020 fiscal year was, in line with expectations, another transition year following the significant impact the Corona crisis had on the company. As announced, the company expects the market launch of the new flow-shape design technology in the middle of this year to mark the completion of measures for adapting the business model.

According to preliminary, unaudited figures, Voltabox generated revenue of € 18.1 million in fiscal year 2020, slightly above the forecast of € 17 million. EBITDA amounts to € -8.1 million, which corresponds to an EBITDA margin of -44.9%. As announced, there are still individual effects from the inventory valuations of materials that will no longer be used by Voltabox to be reflected in the income statement in the 2020 consolidated financial statements. As expected, the free cash flow of € -1.8 million is slightly negative.

"After the setbacks of the previous year, we worked hard to steer the Voltabox Group into calmer and safer waters and to quickly achieve profitability. While the Corona pandemic has delayed these plans, we are not letting these hurdles stop us. The groundbreaking development of our flow-shape-design technology is the best proof that Voltabox's focus has been consistently sharpened," says Jürgen Pampel, CEO of Voltabox AG.