Voltabox growth adjusted to 250% - Further significant increase expected in
2024

EQS-News: Voltabox AG / Key word(s): Forecast
Voltabox growth adjusted to 250% - Further significant increase expected in
2024

15.11.2023 / 14:09 CET/CEST
The issuer is solely responsible for the content of this announcement.

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Voltabox growth adjusted to 250% - Further significant increase expected in
2024

  * Forecast slightly adjusted: compensation payment from historic project
    impacts earnings

  * Revenue forecast for 2023 now at approx. EUR 11 million, unadjusted EBITDA
    expected to be approx. EUR -1.0 million (margin: approx. -9%)

* Further growth leap of more than 50% expected in fiscal year 2024

Paderborn, Germany, November 15, 2023 - The growth of Voltabox ('Voltabox'
or the 'Company'; ISIN DE000A2E4LE9) will amount to approximately 250% in
the 2023 fiscal year. The Group thus confirms its growth path and the
sustainable recovery and stabilization of its business model. Based on the
current planning for the coming fiscal year, the Management Board expects to
be able to achieve significant growth of more than 50% in 2024 as well.

The declared goal of reaching break-even will only be narrowly missed in
fiscal year 2023. This is due to the increase in headcount in the current
year to support the growth strategy and the volatile photovoltaic market.

The Group's earnings were also impacted by a one-time exceptional effect.
Voltabox recently reached an agreement with a customer on a compensation
payment for an unrealized project from 2021. The manufacturer of underground
vehicles for site logistics in tunnel construction projects was promised the
delivery of around 20 battery systems for use in new vehicles. Due to the
organizational structure and the strained financial situation of the Group
at the time of the planned supply, it was not possible to produce the
battery systems as contractually agreed. As part of an amicable settlement,
which includes a compensation payment of approximately EUR 400,000, the
companies were able to re-establish a viable business relationship.
Following the settlement, the OEM placed a new order for mobile high-voltage
battery systems with a cumulative capacity of 2 MWh.

The Management Board now expects unadjusted earnings before interest, taxes,
depreciation and amortization (EBITDA) of approximately EUR -1.0 million for
the fiscal year. Revenue is expected to be approximately EUR 11 million. The
unadjusted EBITDA margin is therefore expected to be around -9%. Adjusted
for the one-time special effect of the settlement payment, EBITDA is
expected to be approximately EUR -0.6 million, corresponding to a margin of
approximately -5.5%.

'Fiscal year 2023 is the first measurable success for Voltabox on the way to
establishing the company in the market for the long term. We will achieve a
real breakthrough with growth of around 250%. The outlook for the coming
year confirms our current strategic cornerstones. We will also be able to
significantly expand our business volume in 2024,' says Patrick Zabel, CEO
of Voltabox.

The Management Board of Voltabox AG expects an increase in revenue of more
than 50% for the coming fiscal year compared to 2023. The detailed structure
of the forecast for 2024 is currently being prepared. The company will
provide detailed information on the key performance indicators and thus the
guidance by the beginning of the next fiscal year at the latest.

Through its subsidiary GreenCluster, Voltabox is dynamically expanding its
market position in the field of photovoltaic solutions in combination with
stationary energy storage systems. The company is working intensively to
further optimize its services and now offers them to any installer through
cooperation programs. For the young company, this is an important milestone
in the implementation of its strategy to open up the market and establish
its offering. Over the past few months, GreenCluster has already established
a strong position in the commercial market, built a distribution network
with various sales and marketing channels, and opened new locations.

'Despite the continued strong expansion of GreenCluster's business volume,
the recent significant drop in prices for photovoltaic modules and storage
systems posed an extraordinary challenge to our goals. Demand is very good
and our high profile and strong product range are having an impact on the
market. However, in order to really take advantage of all the opportunities
available to us, we would have to stockpile large quantities of components
and thus further increase our working capital. The high volatility of market
prices makes this virtually impossible. As a result, for some time now we
have been working only on the basis of specific pre-orders, with the
addition of price escalation agreements. If an order has to be expanded
spontaneously, we are unfortunately not able to meet all requests,' says
Patrick Zabel, explaining the recently tougher conditions for achieving the
planned targets in the VoltaStore business unit.

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. For more information, visit
www.voltabox.ag.

Contact

Voltabox AG

Patrick Zabel (CEO)

Technologiepark 32

33100 Paderborn

Email: investor@voltabox.ag


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15.11.2023 CET/CEST Dissemination of a Corporate News, 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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   Language:       English
   Company:        Voltabox AG
                   Technologiepark 32
                   33100 Paderborn
                   Germany
   Phone:          +49 (0)5250 9930 964
   E-mail:         info@voltabox.ag
   Internet:       www.voltabox.ag
   ISIN:           DE000A2E4LE9
   WKN:            A2E4LE
   Listed:         Regulated Market in Frankfurt (Prime Standard);
                   Regulated Unofficial Market in Berlin, Dusseldorf,
                   Hamburg, Munich, Stuttgart, Tradegate Exchange
   EQS News ID:    1774367

End of News EQS News Service
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1774367 15.11.2023 CET/CEST