PRESS RELEASE : Voltabox Customer Base Continues to be Cautious Because of the Coronavirus - Market Shows High Interest in Innovative FSD Battery Technology

 
 DGAP-News: Voltabox AG / Key word(s): Profit Warning 
Voltabox Customer Base Continues to be Cautious Because of the Coronavirus - 
Market Shows High Interest in Innovative FSD Battery Technology 
 
2020-12-07 / 16:42 
The issuer is solely responsible for the content of this announcement. 
 
*Voltabox Customer Base Continues to be Cautious Because of the Coronavirus 
- Market Shows High Interest in Innovative FSD Battery Technology* 
 
*- Customers severely affected by the coronavirus pandemic continue to 
confirm orders at a rate slower than expected in the fourth quarter - 
postponements to 2021* 
 
*- Revenue forecast for fiscal year 2020 now at &euro 17 million - absolute 
EBITDA nevertheless only slightly below expectations* 
 
*- Innovative battery concept Voltabox-Flow-Shape-Design(R) (FSD) is seen as 
trend-setting by experts and end customers* 
 
Delbrück, Germany, December 7, 2020 - For the fourth quarter, Voltabox AG 
[ISIN DE000A2E4LE9] no longer expects, on the basis of the current 
call-offs, to achieve the operating performance objectives for the current 
fiscal year that it set on the basis of earlier customer expectations. The 
reason is the increasing number of messages from customers who, with 
reference to the coronavirus pandemic, are postponing orders that were 
initially expected for the current quarter into the coming year, or are 
holding back planned orders until further notice. At the same time, the 
Voltabox Management Board sees the positive, appreciative feedback from 
customers and industry experts on the presentation of the new 
Voltabox-Flow-Shape-Design(R) battery concept as confirmation of its 
technological approach and future product strategy. 
 
The ongoing caution on the part of customers, whose orders and confirmations 
in the fourth quarter are at a lower level than originally planned, is 
mainly due to increased difficulty of planning during the coronavirus 
pandemic. The Voltabox Management Board thus no longer assumes that the 
operating business can be increased significantly and in line with planning 
by the end of the year through comprehensive deliveries. As a result, 
Voltabox's economic situation in the fourth quarter continues to be 
particularly affected by the impact of the COVID-19 pandemic. Orders with 
larger batch quantities will probably not be realized until next year. 
 
In the current fiscal year, Voltabox AG most recently aimed for revenue at 
the lower end of the &euro 25 to 45 million range with an EBITDA margin of 
-60 percent. Given the cautious mood now manifesting itself in the end 
markets in which it is active, the company considers a decline in its 
revenue to around &euro 17 million to be realistic. The absolute result at 
EBITDA level of &euro -17 million is only slightly below previous 
expectations. In line with the reduced level of revenue, however, the margin 
is expected to be reduced to -100 percent. The company expects final effects 
of the inventory valuation of the old technology to be felt in fiscal year 
2020. 
 
By mid-2021, as announced last week, Voltabox will significantly and 
sustainably broaden its revenue structure through the market launch of the 
new Voltabox-Flow-Shape-Design(R) battery concept. Very soon after the 
international sales launch, the market acceptance of the new technology was 
confirmed by a great deal of extraordinarily positive feedback from experts 
and end customers. "The reactions of customers who operate internationally 
in particular show that with our solution we have hit a nerve of the market. 
Well-known potential operators and customers, also beyond the commercial 
vehicle sector, have underlined their concrete interest in the technology in 
previous discussions and events held so far to present Flow-Shape-Design. 
The inquiries indicate that especially the flexibility and safety aspects of 
the technology concept, the potential for cost savings, the integration 
possibilities and the focus sectors we want to address with the technology, 
have received particular attention and are driving this development", 
explains Jürgen Pampel, CEO of Voltabox AG. 
 
The planned licensing model is currently being concretized in discussions, 
some of which are at an advanced stage, with first pilot customers. Besides, 
the effects resulting from the launch of Voltabox-Flow-Shape-Design(R) are 
currently being analyzed. As recently, the company will update its 
medium-term planning accordingly in its 2020 Annual Report. 
 
*About Voltabox AG * 
 
Voltabox AG (ISIN DE000A2E4LE9), which is listed on the regulated market 
(Prime Standard) of the Frankfurt Stock Exchange, is a system provider for 
e-mobility in industrial applications as well as in select mass markets. Its 
core business lies in intrinsically safe, highly developed high-performance 
lithium-ion battery systems that are modular and in serial production. The 
battery systems are used for applications including commercial vehicles, 
such as buses for public transportation, forklifts, automated guided 
vehicles and mining vehicles. The company also develops and produces 
high-quality lithium-ion battery systems for select mass-market applications 
such as pedelecs and e-bikes as well as starter batteries for 
high-performance motorcycles. 
 
Voltabox has production sites at its headquarters in Delbrück, Germany, in 
Austin, Texas, USA, and in Kunshan, China. 
 
Additional information about Voltabox can be found at www.voltabox.ag/en. 
 
*Contact * 
 
*Voltabox AG* 
 
Stefan Westemeyer 
Artegastrasse 1 
33129 Delbrück, Germany 
Tel.: [phone] 
Fax: [phone] 
Email: [e-mail] 
 
2020-12-07 Dissemination of a Corporate News, transmitted by DGAP - a 
service of EQS Group AG. 
The issuer is solely responsible for the content of this announcement. 
 
The DGAP Distribution Services include Regulatory Announcements, 
Financial/Corporate News and Press Releases. 
Archive at www.dgap.de 
Language:    English 
Company:     Voltabox AG 
             Artegastraße 1 
             33129 Delbrück 
             Germany 
Phone:       [phone] 
Fax:         [phone] 
E-mail:      [e-mail] 
Internet:    www.voltabox.ag 
ISIN:        DE000A2E4LE9 
WKN:         A2E4LE 
Listed:      Regulated Market in Frankfurt (Prime Standard); Regulated 
             Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, 
             Stuttgart, Tradegate Exchange 
EQS News ID: 1153362 
 
End of News DGAP News Service 
 
1153362 2020-12-07 
 
 

(END) Dow Jones Newswires

December 07, 2020 10:42 ET (15:42 GMT)