2023-05-11 08:36:54 ET
- ADS-TEC Energy press release ( NASDAQ: ADSE ): FY Consolidated revenue of €26.4M, compared to €33.0M in FY21, impacted by clients not taking product by 12/31; finished goods still in the company’s Alabama facility and moved to 2023
- Operational expenses of €33.0M (2021: €15.3M)
- EBITDA of €-32.1M (2021: €-15.2M)
- Year-end cash of €34.4M
- 2023 Outlook: 2023 full year revenues expected to exceed €100M
- Expecting to be EBITDA break-even to positive in FY 2023
- Secured shareholder loan of €12.9M; no intention to raise equity in foreseeable future
- Strong order backlog of €90.0M based on binding orders mainly from solid customers underpinning revenue visibility
- Substantial growth anticipated in 2024 and beyond, driven by very strong customer dynamics and market trends
For further details see:
ADS-TEC Energy reports FY results