EQS-Adhoc

Altech Advanced Materials AG: Correction of preliminary annual result as at 31.12.2023 - Seite 2

The updated provisional net loss for the year amounts to 1,650 TEUR. The expenses from the VOP increased personnel expenses by 205 TEUR to 593 TEUR and other operating expenses by 99 TEUR to 1,018 TEUR.

The updated preliminary balance sheet as at 31 December 2023 in accordance with the German Commercial Code (HGB) therefore shows equity of 5,039 TEUR.

In its last forecast for 2023, the Management Board assumed a loss of between 1.2 million EUR and 1.6 million EUR (see the company's capital market release dated 18 July 2023). This estimate has now been missed slightly due to the recognition of expenses for the AAM VOP 2023.

The aforementioned preliminary result is based on the preliminary valuation of the past financial year 2023 carried out by the Management Board on 22 March 2024. The figures stated in this release are subject to the final preparation of the annual financial statements, the final audit of the financial statements and the approval of the annual financial statements by the Supervisory Board.  

The Management Board
About Altech Advanced Materials AG
Altech Advanced Materials AG (ISIN: DE000A31C3Y4 and DE000A31C3Z1), based in Frankfurt am Main, is a holding company listed on the regulated market of the Frankfurt Stock Exchange. The company's aim is to participate in the market for solid-state batteries for stationary battery use with CERENERGY.

Another focus is on lithium-ion batteries. An innovative anode material based on high-purity aluminum oxide (HPA) - Silumina Anodes - is intended to significantly increase the performance of this battery for electromobility.
CERENERGY-Battery Project
Altech Batteries GmbH (ABG) is a joint venture with the world-leading German battery institute Fraunhofer IKTS ("Fraunhofer") to commercialize the revolutionary CERENERGY sodium-alumina solid-state battery (SAS).  CERENERGY batteries are the breakthrough alternative to lithium-ion batteries. CERENERGY batteries are fire and explosion proof, have a lifespan of more than 15 years and operate in extremely cold and desert climates.  The battery technology uses common salt and is free of lithium, cobalt, graphite and copper, eliminating dependence on critical metal price increases and supply chain issues.