Voltabox is reducing the forecast for fiscal year 2019
Delbrück, Germany, August 12, 2019 - Voltabox [ISIN DE000A2E4LE9] is reducing its revenue and earnings forecast for the current fiscal year. This is mainly due to the partial postponement of a major order for the American subsidiary Voltabox of Texas, Inc., into 2020 and the conversion of an important cell supplier to the latest technology, which will lead to a temporary stoppage of production in subareas at Voltabox.
For fiscal year 2019, Voltabox now anticipates Group revenue of EUR 70 million to EUR 80 million instead of the originally indicated EUR 105 million to EUR 115 million. For the EBIT margin, the company is forecasting a range of -8 to -9 %. Previously, Voltabox had expected a positive EBIT margin of 8 to 9 %.
The Management Board has introduced structural cost reduction measures in order to ensure a sustained return to the profit zone in 2020.
According to preliminary figures, Voltabox achieved revenue of EUR 32.1 million in the first half of 2019, which represents an increase of 77 %. EBIT was EUR -3.6 million after positive EUR 0.1 million in the prior year. Voltabox will publish its report for the first half of the year on August 21, 2019.
About Voltabox AG
Voltabox AG (ISIN DE000A2E4LE9), which is listed on the regulated market (Prime Standard) of the Frankfurt Stock Exchange, is a rapidly growing system provider for e-mobility in industrial applications. Its core business lies in intrinsically safe, highly developed high-performance lithium-ion batteries that are modular and in serial production. The battery systems are primarily used in buses for public transportation, forklifts, automated guided vehicles and mining vehicles. The company also develops and produces high-quality lithium-ion batteries for select mass-market applications, such as high-performance motorcycles and pedelecs.
Voltabox has production sites at its headquarters in Delbrück, Germany, in Austin (Texas, USA), and in Kunshan, China, as well as development sites in Aachen and Korntal-Münchingen, Germany.
Additional information about Voltabox can be found at www.voltabox.ag/en.
33129 Delbrück, Germany
Tel.: +49 (0) 52 50 - 99 30-685
Fax: +49 (0) 52 50 - 99 30-901
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