EQS-News: Voltabox exceeds 2022 Group revenue in the first quarter Agile business development proceeds as expected

Voltabox exceeds 2022 Group revenue in the first quarter Agile business development proceeds as expected

• Consolidated revenue of around 3 million, EBITDA of -0.2 million in line with budget (margin: -7.4 %)
• New customers acquired in all business units as planned, focus on reinforcing growth path
• Forecast for 2023 fiscal year affirmed: Group revenue of around 12.8 million with balanced EBITDA margin - Further improvement in earnings situation expected in second half of year

Paderborn, Germany, May 25, 2023 Voltabox AG ["Voltabox" or the "Company"; ISIN DE000A2E4LE9] today presented its interim statement for the first quarter of 2023, underlining that the company has returned to growth as announced. The earnings after three months are in line with the priority target of securing the achievement of break-even.

"We are establishing Voltabox step by step in various growth markets. The solid results of the first quarter are a first confirmation for us on this path. Voltabox customers are relying on our products and services. We are also receiving positive feedback from the capital market for our consistent approach. The Voltabox team is doing a remarkable job in achieving the ambitious goals we have set ourselves," explains Patrick Zabel, CEO of Voltabox.

Group revenue of 3.0 million generated so far this year (prior year: 0.2 million) is split evenly between the existing VoltaMobil and VoltaStore business units. Revenue in the first quarter was above target as a result of the foundation and establishment of new sales locations.

Dr. Marcus Kaatz, Director Battery Systems, emphasizes: "We are making good progress in the area of new customer acquisition. We are in the right place at the right time with the right products. Our focus is clearly on securing medium-term growth beyond 2023. By means of our technology scouting, we are striving to secure the future viability of our products and thus also the growth curve we have now embarked on and forecast."

At the same time, the management does not take it for granted to generate a positive gross profit in this strong growth phase. Against the background of the ramp-up of business activities and in view of the current order mix, the cost of materials ratio (calculated from the ratio of cost of materials to sales and changes in inventories) is 82.9%, compared with 38.5% in the previous year, when revenue was generated mainly from deliveries of spare parts. As a result, the gross profit ratio is 21.3%. The personnel expense ratio of 13.7 % (previous year: 96.2 %) was significantly improved despite a substantial increase in the workforce.

As a result, earnings before interest, taxes, depreciation and amortization (EBITDA) improved year-on-year to -0.2 million (prior year: -1.3 million), corresponding to an EBITDA margin of -7.4 % (prior year: -604.8 %).

"Achieving break-even in the current fiscal year is our clear goal. We must confirm and maintain this strong performance throughout the year. All our business units are in a growth phase. At the same time, we are increasing efficiency and thus positively influencing the earnings situation. Voltabox AG thus finds itself in a normal course of corporate development - in our case, however, on a much shorter timeline," explains Patrick Zabel. " This is ambitious. However, we have also prepared this path in the last quarters, simulated and tested it several times. Implementation is always a task of its own."

After a financial result of hardly any significance, the consolidated net income for the first quarter amounts to -0.3 million (prior year: -1.4 million). On this basis, earnings per share amount to -0.02 (prior year: -0.09).

In the reporting period, cash flow from operating activities amounted to 1.2 million (prior year: -1.5 million). This was mainly due to the approximately 1.1 million improvement in earnings before taxes, the 1.1 million increase in the reduction in trade receivables and the 0.8 million decrease in trade payables.

Cash flow from investing activities was reduced by the resumption of CAPEX investments in property, plant and equipment and intangible assets and amounted to -0.3 million after three months (prior year: -0.0 million).

Based on the quarterly results and the current forecast, the Management Board has confirmed its expectations for annual Group revenue of 12.8 million and an EBITDA margin of around 0 %.

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.

Contact

Voltabox AG

Patrick Zabel (CEO)

Technologiepark 32

33100 Paderborn

Email: investor@voltabox.ag