Ads-Tec Energy(ADSE)2024-04-30 11:26Financial Performance - FY 2023 revenue totaled approximately EUR 107.4 million, a significant increase from approximately EUR 26.4 million in FY 2022, representing a growth of 305%[4] - Fourth quarter 2023 revenue reached a record of approximately EUR 50.3 million, with Adjusted EBITDA of approximately EUR 4.6 million, marking the company's first profitable quarter[4] - FY 2023 Adjusted EBITDA improved to approximately EUR -16.3 million from approximately EUR -29.4 million in FY 2022, indicating a reduction in losses[4] - The company ended FY 2023 with approximately EUR 29.2 million in cash and cash equivalents, providing a solid financial foundation[4] - The company is reiterating its 2024 revenue guidance of at least EUR 200 million, with expectations of being Adjusted EBITDA positive in FY 2024[4][7] Operational Growth - Over 1,500 battery-based DCFC charging points were installed, with more than 2,500 shipped and delivered, demonstrating strong operational growth[4] - The company anticipates the majority of revenues in 2024 to be recognized in the second half of the year based on current order backlog[7] Strategic Partnerships and Market Expansion - Strong partnerships have been formed with companies such as Caverion and Ford dealerships, enhancing market presence and growth potential[7] - The company is experiencing strong momentum in onboarding new blue-chip clients, leading to an increase in recurring service revenue as a percentage of sales[4] - The launch of ChargePost is expected in early 2025, which is anticipated to provide a significant boost to growth in the US market[7]