ELARIS AG adjusts revenue forecast for 2024 and publishes annual figures for
2023

EQS-Ad-hoc: ELARIS AG / Key word(s): Change in Forecast/Annual Results
ELARIS AG adjusts revenue forecast for 2024 and publishes annual figures for
2023

12-Jul-2024 / 17:07 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation
(EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Public disclosure of inside information according to Article 17 of
Regulation (EU) No 596/2014

ELARIS AG adjusts revenue forecast for 2024 and publishes annual figures for
2023

  * Sales revenues expected to increase to EUR 60-90 million in 2024
    (previous forecast: EUR 150-200 million) after EUR 9.7 million in 2023

  * Current market frictions due to customs dispute in the automotive sector
    are temporarily dampening demand

  * High order backlog of already more than EUR 40 million remains in place
    and is a good basis for full-year targets

  * ELARIS is currently working intensively on specific solutions to quickly
    end the negative impact on its own business

* Company does not see fundamental growth strategy jeopardised

Bad Dürkheim, 12 July 2024 - ELARIS AG ("ELARIS", ISIN DE000A37FT17) is
adjusting its revenue forecast for the current fiscal year due to the
current market frictions for electric cars. The Management Board now expects
sales revenues for 2024 to be in the range of EUR 60-90 million (previous
forecast: EUR 150-200 million). The adjusted revenue forecast means a
multiplication of revenue compared to the 2023 fiscal year. During the past
year, sales revenues grew to EUR 9.7 million according to the now audited
figures in accordance with HGB accounting, versus EUR 3.0 million in 2022.
The EBITDA improved to EUR -2.3 million in 2023, compared to EUR -3.1
million during the year before, and the EBIT of EUR -2.4 million was also
noticeably better than the previous year's figure of EUR -3.4 million.

The current disputes between the European Union (EU) and the People's
Republic of China regarding electric cars, which are associated with
punitive tariffs imposed by the EU on the import of Chinese electric cars,
have dampened the demand for electric vehicles in Europe in recent months.
Nevertheless, ELARIS currently has a robust order volume for electric cars
at a record level of around EUR 40 million. Although ELARIS assumes that an
agreement regarding the customs dispute will be reached between the EU and
the People's Republic of China in the coming months, ELARIS is working in
parallel on concrete solutions to end the impact of the economic disputes on
its own business. ELARIS is confident that it will be able to present
appropriate solutions in the near future. The company does not believe that
its fundamental growth path will be jeopardised.


End of Inside Information

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Information and Explanation of the Issuer to this announcement:

Lars Stevenson, CEO and Founder of ELARIS AG: "The current discussion about
import duties for electric cars from China is primarily politically driven
and, in our view, temporary. The major German industry associations are
rightly opposed to the punitive tariffs. Nevertheless, the market situation
is impacting the current demand and is therefore forcing us to adjust our
revenue forecast for the current year. At the same time, we still expect
sales revenues to multiply in the current year and we already have a high
order backlog. We are currently working on specific solutions to end the
effects of market frictions on our business as quickly as possible and are
confident that we will be able to present results in the near future. The
fundamental growth story of ELARIS remains intact. With a good market
position and innovative ideas, we are ideally positioned for sustainable
growth. Our model range, service and sales network as well as
internationalisation are the keywords on ELARIS' path to offering electric
cars for everyone that are both in line with demand and affordable."

Press Contact and Investor Relations

edicto GmbH
Axel Mühlhaus / Svenja Liebig
+49 69 90550 556
elaris@edicto.de


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12-Jul-2024 CET/CEST The EQS Distribution Services include Regulatory
Announcements, Financial/Corporate News and Press Releases.
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   Language:       English
   Company:        ELARIS AG
                   Robert-Bunsen-Straße 1
                   67098 Bad Dürkheim
                   Germany
   E-mail:         info@elaris.info
   Internet:       www.elaris.info
   ISIN:           DE000A37FT17, DE000A2QDEZ3
   WKN:            A37FT1, A2QDEZ
   Listed:         Regulated Unofficial Market in Berlin, Dusseldorf,
                   Frankfurt, Munich (m:access)
   EQS News ID:    1945593

End of Announcement EQS News Service
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1945593 12-Jul-2024 CET/CEST