Ads-Tec Energy continued its strong financial and operational performance in the first half of 2024, achieving key milestones that underscore the company’s ongoing growth trajectory. These include the acquisition of new customers, a notable improvement in gross margins, and achieving profitability for the third consecutive quarter. Revenues doubled in the first half of 2024, driven by an expanding customer base and deepening relationships with key blue-chip clients.

In February 2024, Ads-Tec Energy entered into a partnership with Caverion to supply its ChargePost and ChargeBox solutions across Norway. This partnership has since expanded to Denmark and Sweden and is a critical element of Ads-Tec Energy’s growth strategy in the Nordic region.

Additionally, Ads-Tec Energy has secured a partnership with Porsche, becoming the preferred service partner for all Porsche dealer locations across Europe and North America. These strategic partnerships are expected to significantly contribute to the company’s future growth and market penetration.

Financial highlights:
•    Revenues: €79.3 million for the six months ended June 30, 2024, reflecting a growth of 107% compared to €38.3 million for the same period in 2023.
•    Gross Margin: €15.7 million (19.8%) for H1 2024, a significant improvement compared to a negative gross margin of €-0.5 million (-1.4%) in H1 2023.
•    Operating Expenses: €20.0 million for the six months ended June 30, 2024, compared to €17.9 million in the same period of 2023, reflecting an 11.7% increase, underscoring the business leverage effect.
•    Operating Result: €-5.0 million compared to €-20.0 million for the same period last year.
•    Adjusted EBITDA (non-IFRS)*: €3.6 million for H1 2024, a substantial turnaround from €-14.3 million in H1 2023. This marks the third consecutive profitable quarter.
•    Cash and Cash Equivalents: €23.0 million as of June 30, 2024, demonstrating strong liquidity management amid substantial year-over-year growth.
•    Customer Base Expansion: The company reported significant growth (+295%) in its paying customer base compared to the same period in 2023.

“Our performance in the first half of the year demonstrates that we are on the right track with our portfolio of hardware, software, and services,” said Thomas Speidel, CEO of Ads-Tec Energy. “Through our intelligent platform solutions, we empower our partners to generate multiple revenue streams from a single asset. For instance, a chargepoint operator can offer ultra-fast charging to various vehicle types. When not in use, the integrated battery storage in our ChargePost allows for energy trading, frequency regulation, peak shaving, and marketing. These systems can also form virtual networks, providing important tools for energy companies and grid operators.”

Looking ahead, Ads-Tec Energy anticipates continued positive momentum in the second half of 2024, with expectations for increased sales revenues compared to the first half of the year. The company remains on track to be Adjusted EBITDA positive for the full year 2024, reinforcing its position as a leader in the ultra-fast charging market.

“We are seeing rapid growth in the number of blue-chip clients,” added Speidel. “Many start with small orders of 1-5 chargers, but we expect these orders to expand significantly year over year. By 2025, we anticipate that revenues will be spread across a much larger customer base, with geographic diversification strengthening the compounding effect of our long-term strategy.”

Ads-Tec Energy is well-positioned to sustain its growth and capitalize on the expanding demand for battery-buffered, ultra-fast charging solutions in Europe, North America, and beyond.