Announcing its preliminary, unaudited full-year 2024 results the company outlined key business expansions and says that market volatility, evolving e-mobility trends and regulatory hurdles led to project delays and insolvencies across the sector. However, ADS-TEC Energy demonstrated resilience and secured new strategic partnerships.
Amidst market uncertainties, ADS-TEC Energy slightly exceeded its previous year’s revenues, while growing its customer base by more than 200% to 55 customers across Europe, USA and Canada. In late 2024 the company effectively mitigated and resolved risks from a major customer´s business difficulties by acquiring nearly all their affected end-customers directly. However, due to customer-side delays, revenue in the double-digit million range could not be realized in 2024 as expected which resulted in ADSE falling short of its revenue forecast for 2024. The company expects these sales revenues originally anticipated for 2024 will be realized in 2025.
According to preliminary figures, ADS-TEC Energy achieved its first-ever gross profit in the double-digit million range and a significant improvement of its EBITDA, with growth in the high double-digit percentage range compared to 2023. The audited 2024 financial statements are expected to be published in April 2025.
ADS-TEC Energy’s service division nearly tripled revenues compared to 2023, highlighting the growing demand for comprehensive service solutions. The company’s portfolio includes critical services such as spare parts availability, remote management solutions, and ongoing operational and software support for charging infrastructure.
The company anticipates that these offerings will contribute to a steady and increasing stream of recurring revenues. Additionally, new service initiatives in advertising and energy trading on ADS-TEC’s platform are gaining traction, with a measurable impact on revenue and margins expected in 2025.
In the US, ADS-TEC Energy expanded its presence in Q4 2024, with an existing customer scaling its supermarket charging network.
A major milestone was the announcement of a strategic partnership with Parkland Corporation, a large multinational fuel distributor, gas station and convenience store operator with a footprint in 26 countries across the Americas. This agreement will enable the installation of ChargeBox ultra-fast charging stations across Parkland’s convenience store network, serving over one million daily customers. The company expects this partnership to become a strong proof of concept leading to a rapid scaling of its U.S. operations.
ADS-TEC Energy says it is making significant progress in moving toward a business model of recurring revenues and cash flows by expanding into project-based infrastructure, transitioning from a product-focused model to a turnkey solutions provider. Under this new approach the company will install, operate, and manage its charging solutions at premium locations. In addition it will generate three-pronged long-term recurring revenues through fast charging services, energy trading, and large-scale advertising.
In line with new growth opportunities, the company expects to finalize framework agreements for several hundred locations within Germany in Q1 2025. The company expects a significant ramp-up of its business over the coming years and is therefore currently exploring opportunities to enhance its financial flexibility.
