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Earnings Call FY2024 Thomas Speidel (CEO) Stefan Berndt-von Bülow (CFO) 12.05.2025
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ADS-TEC Energy © Cautionary Language Regarding Forward-Looking Statements This presentation includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the U.S. Private S ecurities Litigation Reform Act of 1995. Forward-looking statements may be identified using words such as “may,” “might,” “will,” “would,” “could,” “should,” “forecast,” “intend,” “seek,” “target,” “anticipate,” “believe,” “expect,” “estimate,” “plan,” “outlook” and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matte rs. Forward-looking statements are based on our current expectations, estimates, projections, targets, opinions and/or beliefs or, when applicable, of one or mo re third-party sources. No representation or warranty is made with respect to the reasonableness of any estimates, forecasts, illus trations, prospects or returns, which should be regarded as illustrative only. Such forward-looking statements, which include estimated financial information, involve known and unknown risks, uncertainties and other factors. These forward-looking statements include, but are not limited to, express or implied statements regarding our future financial performance, revenues and capital expenditures, our expectat ion of acceleration in our business due to factors including a re -opening economy and increased EV adoption and expectations relate d to the effective deployment of chargers. A number of factors could cause actual results or outcomes to differ materially from those indicated by such forward-looking statements. These factors include, without limitation: changes or developments in the broader general marke t; ongoing impact from COVID-19 on our business, customers, and suppliers; macro political, economic, and business conditions; our limited operati ng history as a public company; our dependence on widespread adoption of EVs and increased installation of charging stations; mechanisms surrounding energy and non-energy costs for our charging products; the impact of governmental support and mandates that could re duce, modify, or eliminate financial incentives, rebates, and tax credits; our current dependence on sales to a limited numbe r of customers; supply chain interruptions; impediments to our expansion plans; the need to attract additional customers; the effects of competition ; and risks that our technology could have undetected defects or errors. Further information on these and other factors that could affect the forward -looking statements we make in this presentation can be found in the documents that we file with or furnish to the U.S. Securities and Exchange Commission, including our 20 -F filed with the SEC on May 09, 2025 and proxy statement/prospectus filed with the SEC on December 7, 2021, which are available on our website at https:/ /adste-energy.com/investor-relations-corporate-governance/ and on the SEC's website at www.sec.gov. Additional information will als o be set forth in other filings that we make with the SEC from time to time. All forward-looking statements in this presentation are based on our current beliefs and on information available to us as of the date hereof, and we do not assume any obligation to update the f orward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made or to upd ate the reasons why actual results could differ materially from those anticipated in the forward -looking statements, even if new information becomes available in the future. Industry and Market Data Although all information and opinions expressed in this presentation, including market data and other statistical information , were obtained from sources believed to be reliable and are included in good faith, the company has not independently verified the information and makes no representation or warranty, express or implied, as to its accuracy or completeness. for the correctness of any such inform ation. In addition, certain of the industry and market data included in this presentation, if not labelled otherwise, is derived from the company’s internal research and estimates based on the knowledge and experience of its management in the markets in which it operates as well as the company’s review of internal sources as well as independent sources. Non-IFRS Financial Measures In addition to our results determined in accordance with International Financial Reporting Standards (“IFRS”), as issued by t he International Accounting Standards Board (IASB), we review financial measures that are not calculated and presented in accord ance with IFRS (“non- IFRS financial measures”). We believe our non-IFRS financial measures are useful in evaluating our operating performance. We use the following non-IFRS financial information, collectively, to evaluate our ongoing operations and for internal planning and fo recasting purposes. We believe that non-IFRS financial information, when taken collectively, may be helpful to investors, because it provides consis tency and comparability with past financial performance and assists in comparisons with other companies, some of which use si milar non-GAAP financial information to supplement their IFRS or US-GAAP results. The non-IFRS financial information is presented for supplemental informational purposes only, should not be considered a substitute for financial information presented in accordance with IFRS, and may be different from similarly titled non-IFRS measures used by other companies. A reconciliation of each historical non -IFRS financial measure to the most directly comparable financial measure stated in accordance with IFRS is provided above. Reconciliations of forward- looking non-IFRS financial measures are not provided because we are unable to provide such reconciliations without unreasonable effort d ue to the uncertainty regarding, and potential variability of, certain items, such as stock -based compensation expense and other costs and expenses that may be incurred in the future. Investors are encouraged to review the related IFRS financial measures and the reconcilia tion of these non-IFRS financial measures to their most directly comparable IFRS financial measures. Our non-IFRS financial measures include adjusted EBITDA defined as result for the period before net finance result, income tax b enefits (expenses), net, depreciation and amortization, stock -based compensation, other (expense) income, net, and special items . Our management team ordinarily excludes special items from its review of the results of the ongoing operations. Special items are comprised of (1) provisions for onerous contracts, (2) significant asset impairments and write -offs, and (3) other items that we do not necessarily consider to be indicative of earnings from ongoing operating activities. Use of Trademarks and Other Intellectual Property All registered or unregistered service marks, trademarks and trade names referred to in this presentation are the property of their respective owners, and the use herein does not imply an affiliation with, or endorsement by, the owners of these service marks, trademarks and trade names. Third-party logos included herein may represent past customers, present customers or may be provided simply for ill ustrative purposes only. Inclusion of such logos does not necessarily imply affiliation with or endorsement by such firms or businesses. There is no guarantee that we will work, or continue to work, with any of the firms or businesses whose logos are included herein in the future Disclaimer 12.05.20252
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ADS-TEC Energy © 1. Review FY2024 2. Strengthening Partnerships & Accelerating Recurring Revenues 3. Strategy EU/NAR 4. Financial Highlights 5. Summary 6. Q&A Agenda 12.05.20253
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Review FY2024 01
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ADS-TEC Energy © Review FY2024 ▪ First-time ever positive gross profit and positive adjusted EBITDA for full year ▪ Service revenue almost tripled to €5.6 million ▪ Growing customer base by more than 200 % to 55 customers across Europe, USA and Canada ▪ Focusing on resilient business model backed by long-term multi- revenues and proven technology 12.05.20255
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Strengthening partnerships with new and existing clients Accelerating recurring revenues 02
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ADS-TEC Energy © 2024 – due to market volatility and uncertainty, ADS-TEC Energy focused on significant margin improvements to ensure even more profitable growth in the coming periods combined with lower cashflow positive threshold. 2025 will be focused on continuing on our partnerships and accelerating recurring revenues for ADS-TEC Energy.
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ADS-TEC Energy © Realizing new opportunities. ▪ We are continuously and successfully expanding our international customer base ▪ ADS-TEC Energy will act as full-service provider to realize selected infrastructure projects ▪ The company looks back on a long history in the C&I sector - the first BESS was installed in 2012 › In 2025+ ADS-TEC Energy will develop large-scale BESS projects ▪ ADS-TEC Energy has improved momentum in North America and was able to attract blue-chip customers such as Parkland 12.05.20258
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Strategy Europe & North America 03
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ADS-TEC Energy © ADS-TEC Energy © ADS-TEC Energy with strong momentum due to its strategy of “ability to act” ▪ 10+ years of development experience ▪ Continued focus on innovation ▪ Awarded and proven technology ▪ Resilient and long-term business model based on multi-revenues 12.05.202510 Foundation for a successful 360° approach
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ADS-TEC Energy © 360°: Extended business model to realize infrastructure projects backed by long-term multi-revenue streams. 12.05.202511 360° ADS-TEC Energy as Full-Service Provider Own & Operate Investing in preferred infrastructure projects backed by long-term multi-revenue streams. Software Software solutions for the efficient use of the hardware and to ensure IT-Security. Installation & Commissioning Delivery, installation and final commissioning of ADS-TEC Energy’s battery-buffered solutions. Operation Operation of ADS-TEC Energy’s battery- buffered charging solutions or commercial & industrial BESS. Use cases: Charging, Energy Trading, Advertising (DOOH) Services Broad range of service contracts (SLA) and digital services (SaS). Optimized TCO and multi revenue business models. Hardware Battery-based products developed and engineered in Germany. NEW NEW NEW
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ADS-TEC Energy © ChargePost enables resilient and long-term business models backed by multi-revenues: ▪ Ultra-fast charging ▪ Energy trading ▪ Advertising (DOOH)
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ADS-TEC Energy © ▪ Large-scale storage systems are becoming crucial for the existing infrastructure and ADS-TEC Energy will take part in this international growth market ▪ Pipeline – one of the largest BESS projects in Europe is currently being planned and applied for (more than 500MW/1GWh).* › The required land has been secured exclusively for ADS-TEC Energy and the application to the TSO for the grid connection has been submitted. › We expect the official project start during 2025 ▪ Further BESS projects are coming in and are under development Renewed focus on C&I Projects 12.05.202513 *initial planning stage and subject to receipt of required permits and regulatory approvals
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Financial Highlights FY2024 04
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ADS-TEC Energy ©ADS-TEC Energy © Revenues: ▪ €110.0 million for FY 2024, compared to €107.4 million in 2023. ▪ Amidst market uncertainties, ADS-TEC Energy was able to exceeded its previous year’s revenues, while growing its customer base by more than 200 % to 55 customers across Europe, USA and Canada. ▪ Service revenue almost tripled from €2.0 million (2023) to €5.6 million (2024). 107.4 110.0 50 60 70 80 90 100 110 120 Revenues FY 2024 12.05.202515 Revenues FY 2023 and FY 2024 FY 2023 FY 2024 Mio. EUR 2 5.6 0 1 2 3 4 5 6 FY 2023 FY 2024 Mio. EUR Total Revenues Service Revenues
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ADS-TEC Energy ©ADS-TEC Energy © Financial Highlights FY2024 12.05.202516 -2.9 -38.1 19.4 2.2 -50 -40 -30 -20 -10 0 10 20 30 Gross Profit and (adjusted) EBITDA FY2023 and FY2024 2023 2024 ▪ Gross Margin: €19.4 million (17.7 %) for FY 2024 first-time ever positive gross profit compared to a negative gross margin of €-2.9 million (-2.7 %) in FY 2023. ▪ Cost of Sales: €-90.6 million decreased by 18 % compared to the previous year. ▪ Operating Result: €-8.6 million significant improvement by € 35.9 million compared to €-44.5 million for the previous year. ▪ Adjusted EBITDA (non-IFRS): €2.2 million for FY 2024, a substantial turnaround from €-38.1 million in H1 2024. ▪ Cash and Cash Equivalents: €22.9 million as of December 31, 2024, demonstrating strong liquidity management Gross Profit EBITDA (adj.) Mio. EUR
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Summary 05
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ADS-TEC Energy © Strong financial basis ▪ First-time ever positive gross profit and positive adjusted EBITDA for full year ▪ Issued senior secured convertible notes with aggregate principal amount of $50.0 million and warrants to purchase 1,116,072 ordinary shares ▪ Extended existing shareholder loans until August 31, 2026 which can be used as credit line – currently open line of $25.6 million Growth Strategy ▪ Strengthening Partnerships with new and existing clients ▪ Accelerating recurring revenues ▪ Growing customer base by more than 200 % to 55 customers across Europe, USA and Canada ▪ Focusing on resilient business model backed by long-term multi- revenues and proven technology ▪ Service business almost tripled driven by growing installed base Technology recognition ▪ Nomination for German Future Award (2022) ▪ German Innovation Award (2024) ▪ Green Product Award (2024) ▪ German Environmental Award (2024) ▪ Red Dot Award (2024) ▪ ChargeBox and ChargePost have been proven by real operating data from clients ▪ Exceeding customer‘s experience due to very high utilization rates ▪ Technology has been developed for more than 1 decade 12.05.202518
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Q&A 06
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Thank You Thomas Speidel (CEO) Stefan Berndt-von Bülow (CFO) 12.05.2025
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Templates Financials 07
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ADS-TEC Energy © Consolidated statements of profit or loss and comprehensive income (loss) 12.05.202522 kEUR Dec 31, 2024 Dec 31, 2023 Continuing operations Revenue 110,013 107,384 Cost of sales -90,585 -110,270 Gross profit (loss) 19,427 -2,886 Research and development expenses -8,971 -2,832 Selling and general administrative expenses -31,588 -27,823 Impairment gain (losses) on trade receivables, contract assets, and other investments -58 104 Other income 14,530 667 Other expenses -1,949 -11,755 Operating result -8,609 -44,525 Finance income 24 190 Finance expenses -88,883 -13,887 Net finance result -88,858 -13,697 Result before tax -97,467 -58,221 Income tax benefits (expenses) -491 3,141 Result for the period -97,958 -55,081 Other comprehensive income Items that are or may be reclassified subsequently to profit or loss Foreign operations – foreign currency translation differences 939 61 Other comprehensive income (loss) for the period, net of tax 939 61 Total comprehensive income (loss) for the period -97,019 -55,020 Earnings (loss) per share (in EUR) Diluted -1.91 -1.13 Basic -1.91 -1.13
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ADS-TEC Energy © EBITDA and adjusted EBITDA* 12.05.202523 kEUR Dec 31, 2024 Dec 31, 2023 Result for the period -97,958 -55,081 + Depreciation 6,699 4,850 + Net finance result 88,858 13,697 + Income tax benefits (expenses) 491 -3,141 EBITDA -1,910 -39,674 + share-based payments 4,090 1,561 Adjusted EBITDA 2,180 -38,113 *EBITDA (non-IFRS) defined as result for the period before net finance result, income tax benefits (expenses), net, depreciationand amortization; adjusted EBITDA (non-IFRS) defined as EBITDA adjusted by effects of share-based payments on profit
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ADS-TEC Energy © Consolidated statements of financial position 12.05.202524 ASSETS kEUR Dec 31, 2024 Dec 31, 2023 Intangible assets 20,529 25,041 Right-of-use assets 3,273 3,286 Property, plant, and equipment 6,195 6,391 Other investments and other assets 179 179 Trade and other receivables (non-current) 6 4 Deferred tax assets 6 - Non-current assets 30,188 34,900 Inventories 63,666 39,119 Trade and other receivables (current) 14,929 21,227 Contract assets 40 - Other accrued items 13,447 - Current tax assets 102 - Cash and cash equivalents 22,858 29,162 Current assets 115,042 89,509 Total assets 145,230 124,408 EQUITY AND LIABILITIES kEUR Dec 31, 2024 Dec 31, 2023 Total equity -42,809 33,919 Lease liabilities (non-current) 2,336 2,580 Warrant liabilities (non-current) 119,581 21,626 Trade and other payables (non- current) 209 169 Contract liabilities (non-current) 265 65 Other provisions (non-current) 2,132 4,513 Deferred tax liabilities 1,670 1,189 Non-current liabilities 126,192 30,142 Lease liabilities (current) 1,144 853 Loans and borrowings (current) 13,333 13,908 Trade and other payables (current) 34,963 22,021 Contract liabilities (current) 6,809 7,454 Income tax liabilities (current) 13 -102 Other provisions (current) 5,586 16,212 Current liabilities 61,847 60,347 Total liabilities 188,039 90,489 Total equity and liabilities 145,230 124,408
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ADS-TEC Energy © Consolidated statements of cash flows 12.05.202525 kEUR Dec 30, 2024 Dec 30, 2023 Result for the period -97,958 -55,081 Depreciation and amortization 6,699 4,850 Finance result 82,198 13,699 Non-cash effective foreign currency gains 6,352 -35 Stock compensation 3,866 1,451 Gain (loss) on disposal of property, plant, and equipment 2 5 Change in working capital -17,958 17,607 Income tax expenses 491 -3,141 Interest received 24 187 Interest taxes paid -3 -203 Cash flow from operating activities -16,285 -20,659 Purchase of property, plant, and equipment -958 -2,297 Investments in intangible assets, including internally generated intangible asset -445 -7,623 Proceeds from sale of property, plant, and equipment 107 - Cash flow from investing activities -1,296 -9,920 Proceeds from borrowings, shareholder contribution, and loans 13,966 12,033 Proceeds from issue of shares and other equity securities 776 15,333 Proceeds from the exercise of warrants 9,260 - Repayment of shareholder loans -11,225 -703 Repayment of lease liabilities -996 -912 Interest paid -1,183 -259 Cash flow from financing activities -10,598 25,492 Net decrease (-) / increase in cash and cash equivalents -6,984 -5,087 Net cash and cash equivalents at the beginning of the period 29,162 34,441 FX effects 680 -192 Net cash and cash equivalents at the end of the period 22,858 29,162