ADS-TEC Energy Reports Half Year 2024 Financial Results and Trading Update

ADS-TEC Energy GmbH, a leader in ultra-fast charging technology, released its unaudited financial results for the first half of 2024. The company posted revenues of €79.3 million, a 107% increase compared to the same period in 2023. Gross margin also improved significantly to €15.7 million from a negative margin last year.

Operating expenses rose by 11.7% to €20.0 million, resulting in an operating loss of €5.0 million. However, the company reported an adjusted EBITDA of €3.6 million, marking a substantial turnaround from €-14.3 million in H1 2023. Cash and cash equivalents stood at €23.0 million, indicating strong liquidity.

In addition to financial performance, ADS-TEC Energy made strategic moves by entering partnerships with Caverion and Porsche. These alliances are crucial for the company’s growth in the Nordic region and across Europe and North America. CEO Thomas Speidel highlighted the firm's robust portfolio of hardware and software solutions that enable multiple revenue streams for partners.

Looking forward, ADS-TEC Energy expects continued positive momentum and increased sales in the second half of 2024. The company aims to be Adjusted EBITDA positive for the full year, with a growing customer base and wider geographic reach contributing to long-term strategy execution.