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EQS-News: Voltabox AG / Key word(s): Forecast
Voltabox growth adjusted to 250% - Further significant increase expected in 2024
2023-11-15 / 14:09 CET/CEST
The issuer is solely responsible for the content of this announcement.
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

2023-11-15 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.
The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.

Archive at www.eqs-news.com  
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 2023-11-15 CET/CEST

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END) Dow Jones Newswires

November 15, 2023 08:10 ET (13:10 GMT)