Ads-Tec Energy(ADSE)2024-04-30 19:59Financial Data and Key Metrics Changes - The company achieved EUR 107.4 million in revenues for the full year 2023, meeting its target of over EUR 100 million [6][56]. - The adjusted EBITDA for Q4 2023 was positive at EUR 4.6 million, marking the first positive result on a pro forma EBITDA basis since the deSPAC and IPO [56][57]. - The company targets revenue of EUR 200 million for 2024, effectively doubling its revenue from the previous year [7][56]. Business Line Data and Key Metrics Changes - The company installed over 1,500 battery-buffered charging points and has shipped a total of more than 2,500 charging points [8][57]. - The major products sold were ChargeBox and ChargePost, which have shown high performance and exceeded customer expectations [57]. Market Data and Key Metrics Changes - The company noted a significant growth in EV adoption, particularly in the Nordics, where the adoption rate exceeds 90% [15]. - The EV forecast indicates exponential growth in both the EU and the U.S., necessitating an increase in charging infrastructure [14][20]. Company Strategy and Development Direction - The company aims to focus on its core competencies, providing technology and services to future power companies rather than operating them [25][26]. - The strategy includes expanding its role in Europe and North America, targeting leadership in battery-buffered chargers [27][29]. Management Comments on Operating Environment and Future Outlook - Management acknowledged challenges such as grid expansion and geopolitical issues but remains optimistic about long-term EV efficiency and infrastructure needs [10][54]. - The company believes that the demand for charging capacity will continue to grow, driven by the increasing number of electric vehicles and the need for a resilient energy system [24][53]. Other Important Information - The company is actively expanding its presence in North America and has established new partnerships, including installations in luxury condominiums [30][31]. - Management emphasized the importance of compliance with evolving regulations and the ability to adapt to market changes [22][23]. Q&A Session Summary Question: Guidance for 2024 regarding revenue and EBITDA cadence - Management expects a stronger second half of 2024, indicating a back-end loaded fiscal year in terms of revenue [62]. Question: Early feedback on ChargePost demand and supply chain challenges - The company is currently developing ChargePost and expects to announce it in Q1 2025, with ongoing certification processes [64]. Question: EBITDA expectations for the year - It is suggested that the company may experience negative EBITDA in the first half of the year, with positive results anticipated in the second half [65].