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EQS-Ad-hoc: Voltabox AG / Key word(s): Profit Warning Forecast for 2023 Fiscal Year Amended Paderborn, November 14, 2023 – The Management Board of Voltabox AG ["Voltabox" or the "Company"; ISIN DE000A2E4LE9] has adjusted the published forecast for Group revenue and EBITDA (earnings before interest, tax, depreciation and amortization) for the 2023 fiscal year as a result of a compensation payment from a historical customer relationship and in view of the continuing price erosion in the market for photovoltaic modules. The Management Board withdraws its original forecast of Group revenue of € 12.8 million and now expects the Group to generate revenue of approximately € 11 million for the full year. The expected unadjusted EBITDA, which had been forecast to break even, is now expected to be approximately € -1.0 million and the EBITDA margin, which had previously been forecast to be 0%, is now expected to be approximately -9.0%. EBITDA adjusted for the extraordinary one-time effect of the compensation payment would amount to approximately € -0.6 million, corresponding to an EBITDA margin of approximately -5.5%. The compensation payment results from the fact that a former customer received a commitment from Voltabox AG for the delivery of around 20 battery systems to equip service vehicles for tunnel construction logistics. Due to liquidity shortages at Voltabox at the time, the company was subsequently unable to meet the delivery deadline. As part of an out-of-court settlement, Voltabox has now agreed to pay compensation of €400,000. The new Voltabox organization has since been able to stabilize the customer relationship. In addition, the current negative price trend and the significantly intensified competitive situation in the market for photovoltaic modules are the main reasons for the operating loss and lower than expected revenues. As a result of the aforementioned circumstances, Voltabox was not able to realize the expected revenue volumes, in particular in the area of trading activities with PV modules in the private customer business, as anticipated at the time of the preparation of the forecast.
About Voltabox AG Voltabox AG (ISIN DE000A2E4LE9), which is listed on the regulated market (Prime Standard) of the Frankfurt Stock Exchange, is a technology driven provider for e-mobility solutions in industrial applications. Its core business lies in intrinsically safe, highly developed high-performance lithium-ion battery systems that are modular and in serial production. The battery systems are primarily used in agricultural and construction machinery as well as in electric and hybrid-electric buses for public transportation. In addition, Voltabox is active in the field of infrastructural energy production and corresponding utilization models through its subsidiary GreenCluster GmbH. For more information, visit www.voltabox.ag.
Contact Voltabox AG Patrick Zabel (CEO) Technologiepark 32 33100 Paderborn Email: investor@voltabox.ag
End of Inside Information
14-Nov-2023 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
| Language: | English |
| Company: | Voltabox AG |
| Technologiepark 32 | |
| 33100 Paderborn | |
| Germany | |
| Phone: | +49 (0)5250 9930 964 |
| E-mail: | info@voltabox.ag |
| Internet: | www.voltabox.ag |
| ISIN: | DE000A2E4LE9 |
| WKN: | A2E4LE |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1773409 |
| End of Announcement | EQS News Service |
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1773409 14-Nov-2023 CET/CEST
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