6-K
Ads-Tec Energy Public Ltd Co (ADSE)
UNITEDSTATES
SECURITIESAND EXCHANGE COMMISSION
Washington,D.C. 20549
FORM6-K
Reportof Foreign Private IssuerPursuant to Rule 13a-16 or 15d-16 under the Securities Exchange Act of 1934
For the month of September 2022
Commission File Number 001-41188
ADS-TECENERGY PUBLIC LIMITED COMPANY
(Translation of registrant’s name into English)
10Earlsfort Terrace
Dublin2, D02 T380, Ireland
Telephone:+353 1 920 1000
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ____
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ____
On September 12, 2022 ADS-TEC ENERGY PLC (the “Company”) issued a press release entitled “ads-tec Energy PLC Announces Financial and Operational Results for the First Half of Fiscal Year 2022,” (the “Press Release”) in which the Company reported its financial and operational results for the six months ended June 30, 2022, a copy of which is furnished as Exhibit 99.1 hereto. Additionally, the Company made available to its investors an investor presentation entitled “Investor Presentation, H1 2022 Earnings Call – September 12, 2022,” in which the company summarized the information in the Press Release and provided additional information regarding its business and financial results, a copy of which is furnished as Exhibit 99.2 hereto.
The information furnished in this Form 6-K, including the information contained in Exhibit 99.1 and Exhibit 99.2, shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, and shall not be deemed to be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by a specific reference in such filing.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
This Form 6-K includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. The Company’s actual results may differ from its expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believe,” “hope,” “predict,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include the Company’s expectations with respect to future performance and involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside the Company’s control and are difficult to predict. Factors that may cause such differences include but are not limited to risks and uncertainties incorporated by reference under “Risk Factors” in the Company’s Form 20-F (SEC File No. 001-41188) filed with the U.S. Securities and Exchange Commission (the “SEC”) on April 28, 2022 and in the Company’s other filings with the SEC. The Company cautions that the foregoing list of factors is not exclusive. The Company cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. The Company does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based.
EXHIBITINDEX
| Exhibit No. | Description |
|---|---|
| 99.1 | Press Release, dated September 12, 2022 |
| 99.2 | Investor Presentation, dated September 12, 2022 |
1
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| Dated: September 13, 2022 | ads-tec Energy PLC | |
|---|---|---|
| By: | /s/ Robert Vogt | |
| Name: | Robert Vogt | |
| Title: | Chief Accounting Officer |
2
Exhibit 99.1
ADS-TECEnergy (ADSE) Reports H1 2022 Results and Confirms FY 2022 Guidance
| ● | Strong<br> order momentum with booked orders up over 100% YOY for H1 2022 and demand across multiple<br> market segments |
|---|---|
| ● | Order<br> backlog was more than €176 million for end of August 2022, largely driven by strong<br> growth in Europe and the U.S. |
| --- | --- |
| ● | H1<br> 2022 international expansion and diversification into other geographies has led to revenue<br> outside of Germany increasing 4x from H1 2021 |
| --- | --- |
| ● | Growth<br> in U.S. business since launch in January |
| --- | --- |
| ● | Completed<br> due diligence and identification of U.S. plant location with a scheduled opening in H2 2022 |
| --- | --- |
| ● | Revenue<br> in H1 2022 was €9.4 million |
| --- | --- |
| ● | Gross<br> Profit (loss) in H1 2022 was -€4.8 million |
| --- | --- |
| ● | EBIT<br> in H1 2022 was -€18.5 million for H1 2022 |
| --- | --- |
| ● | H1<br> 2022 closed with €65.7 million cash-on-hand and, as of this announcement, no debt |
| --- | --- |
| ● | FY<br> 2022 revenue guidance of €80 to €100 million more than doubles FY 2021 revenue,<br> but this depends upon the supply chain |
| --- | --- |
| ● | Growth<br>continues in core segments across North America, Continental Europe, and the United Kingdom |
| --- | --- |
| ● | Increased<br>order backlog already includes planned deliveries for 2023 |
| --- | --- |
NÜRTINGEN,Germany – September 12, 2022 – ADS-TEC Energy plc (NASDAQ: ADSE), a global leader in battery-buffered, ultra-fast charging technology, today announced audited financials for H1 2022 and guidance for FY 2022.
The company also announced strong performance and continued growth in its key segments with contracted business in municipalities, oil and gas, hospitality, big box retail, charging point operators, EV fleets, automotive OEM dealerships, and large last-mile delivery services since launching its U.S. business in January.
ADS-TEC Energy announced a key strategic partnership with JOLT, a Dublin and Munich-based technology company focused on owning and operating ultra-fast charging solutions in urban areas. Installations have already begun at ESSO service stations in Munich, Berlin, Hamburg, Frankfurt, Stuttgart, Dresden, Duesseldorf, and Nuremberg as well as TAMOIL stations in the Netherlands. They aim to install and operate up to 5,000 ultra-fast charging stations over the next five years.
On the product side, ADS-TEC Energy extends its battery-buffered, ultra-fast charging technology with the addition of ChargePost. Unlike the currently-available, battery-buffered ChargeBox, which consists of a separate battery-booster module and two charging dispensers, the ChargePost consolidates battery-buffering and dispensers into a single “all-in-one” system with a large display that provides revenue-generating advertising opportunities. In conjunction with this addition to the Company’s portfolio, the Company has completed a framework agreement with a European company that will receive the first 50 ChargePost systems in 2022. As part of the agreement, ADS-TEC Energy expects to deliver increasing volumes of products to encompass thousands of ChargePost units over the next few years.
Also, ADS-TEC Energy announced in August, that that the company has significantly increased the order volume for its products in fiscal year 2022 since the publication of the first financial forecast on April 28, 2022. The orders primarily involve the company’s battery-buffered, ultra-fast EV charging systems, but also include stationary storage systems for commercial and industrial applications. For contractual reasons, specific customers and projects cannot be publicly announced at this time. Our sales guidance of €80 to €100 million will not be affected by the increased order backlog, as sales from the new orders are planned for 2023.
After much due diligence and site work, we have identified the location of our U.S. manufacturing plant and expect it to be operational in Q4 2022.
Financial& Operational Highlights
The below represents summary financial and operational figures for H1 2022:
| ● | Revenue<br> of €9.4 million |
|---|---|
| ● | Gross<br> profit (loss) of -€4.8 million |
| --- | --- |
| ● | Net<br> loss of -€7.1 million |
| --- | --- |
| ● | Operating<br> Result of -€18.5 million |
| --- | --- |
| ● | Result<br> before tax of -€7.1 million |
| --- | --- |
| ● | Cash<br> Flow from Operations of -€31.4 million |
| --- | --- |
| ● | Capital<br> Expenditure of €3.3 million |
| --- | --- |
2022Financial & Operating Guidance
ADSE is introducing FY2022 guidance as follows:
| ● | Total<br> revenue of €80 - €100 million for FY2022 |
|---|---|
| ● | Revenue<br> in FY2022 will be backloaded to second half based on confirmed order backlog, depending upon<br> the supply chain |
| --- | --- |
2
ConferenceCall information
https://www.webcast-eqs.com/adstec20220912
AboutADS-TEC Energy
ADS-TEC Energy plc, a public limited company incorporated in Ireland and publicly listed on NASDAQ (“ADS-TEC Energy”), serves as a holding company for ADS-TEC Energy GmbH, our operating company incorporated in Germany (“ADSE GM”) and ADS-TEC Energy Inc., a US subsidiary of ADS-TEC Energy GmbH (“ADSE US” and together with ADS-TEC Energy and ADSE GM, “ADSE”). ADSE is a global leader in battery-buffered, ultra-fast charging technology thatdraws on more than 10 years of experience with lithium-ion technologies, storage solutions and fast charging systems, including the corresponding energy management systems. Its battery-based, fast charging technology enables electric vehicles to ultrafast charge even on low powered grids and features a very compact design. The high quality and functionality of the battery systems are due to a particularly high depth of development and in-house production. With its advanced system platforms, ADSE is a valuable partner for automotive, OEMs, utility companies and charge-operators.
More information on www.adstec-energy.com
Forward-lookingStatements
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include statements regarding our financial outlook for 2022, our expectations with respect to future performance and the anticipated timing of certain commercial activities. There are a significant number of factors that could cause actual results to differ materially from the statements made in this press release, including: the impact of the COVID-19 pandemic, geopolitical events including the Russian invasion of Ukraine, macroeconomic trends including changes in inflation or interest rates, or other events beyond our control on the overall economy, our business and those of our customers and suppliers, including due to supply chain disruptions and expense increases; our limited operating history as a public company; our dependence on widespread acceptance and adoption of EVs and increased installation of charging stations; our current dependence on sales to a limited number of customers for most of our revenues; overall demand for EV charging and the potential for reduced demand for EVs if governmental rebates, tax credits and other financial incentives are reduced, modified or eliminated or governmental mandates to increase the use of EVs or decrease the use of vehicles powered by fossil fuels, either directly or indirectly through mandated limits on carbon emissions, are reduced, modified or eliminated; supply chain interruptions and expense increases; unexpected delays in new product introductions; our ability to expand our operations and market share in Europe and the U.S.; the effects of competition; changes to battery energy storage standards; and the risk that our technology could have undetected defects or errors. Additional risks and uncertainties that could affect our financial results are included under “Item 3. Key Information – 3.D. Risk Factors” in our annual report on Form 20-F filed with the Securities and Exchange Commission (the “SEC”) on April 28, 2022, which is available on our website at https://adstec-energy.com/investor-relations-corporate-governance/ and on the SEC’s website at www.sec.gov. Additional information will also be set forth in other filings that we make with the SEC from time to time. All forward-looking statements in this press release are based on information available to us as of the date hereof, and we do not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made, except as required by applicable law.
Useof Non-IFRS Financial Measures
ADS-TEC Energy has provided in this press release financial information that has not been prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board (“IFRS”). ADS-TEC Energy uses these non-IFRS financial measures internally in analyzing its financial results and believes that the use of these non-IFRS financial measures is useful to investors to evaluate ongoing operating results and trends, and in comparing ADS-TEC Energy’s financial results with other companies in its industry as well other technology companies, many of which present similar non-IFRS financial measures.
The presentation of these non-IFRS financial measures is not meant to be considered in isolation or as a substitute for comparable IFRS financial measures and should be read only in conjunction with ADS-TEC Energy’s consolidated financial statements prepared in accordance with IFRS. A reconciliation of ADS-TEC Energy’s historical non-IFRS financial measures to their most directly comparable IFRS measures has been provided in the financial statement tables included in this press release, and investors are encouraged to review these reconciliations.
3
FinancialStatements
Unaudited interim condensed consolidated statements of comprehensive income
For the six months ended June 30:
| kEUR | Note | 2022 | 2021 | ||
|---|---|---|---|---|---|
| Continuing operations | |||||
| Revenue | 4.1.1 | 9,431 | 20,947 | ||
| Cost of sales | 4.1.2 | -14,255 | -19,433 | ||
| Gross profit (loss) | -4,824 | 1,514 | |||
| Research and development expenses | 4.1.2 | -1,030 | -1,583 | ||
| Selling and general administrative expenses | 4.1.2 | -12,706 | -4,083 | ||
| Impairment losses on trade receivables and contract assets | -141 | 0 | |||
| Other income | 599 | 549 | |||
| Other expenses | -384 | -467 | |||
| Operating result | -18,484 | -4,069 | |||
| Finance income | 4.1.3 | 11,502 | - | ||
| Finance expenses | -161 | -1,108 | |||
| Net finance result | 11,341 | -1,108 | |||
| Result before tax | -7,143 | -5,177 | |||
| Income tax benefits (expenses) | 4.1.4 | -165 | - | ||
| Result for the period | -7,309 | -5,177 | |||
| Other comprehensive income | |||||
| Items that are or may be reclassified subsequently to profit or loss | |||||
| Foreign operations – foreign currency translation differences | 43 | - | |||
| Other comprehensive income for the period, net of tax | 43 | - | |||
| Total comprehensive income for the period | -7,266 | -5,177 | |||
| Profit (loss) attributable to: | |||||
| Shareholders of the parent | -7,309 | -5,177 | |||
| Non-controlling interests | - | - | |||
| Total comprehensive income attributable to: | |||||
| Shareholders of the parent | -7,266 | -5,177 | |||
| Non-controlling interests | - | - | |||
| Earnings (loss) per share (in EUR) | 4.1.5 | - | - | ||
| Diluted | -0.15 | -161.59 | |||
| Basic | -0.15 | -161.59 |
Due to rounding, the sum of the numbers presented in the table above might not precisely equal the totals we provide.
4
Unaudited interim condensed consolidated statements of financial position
| ASSETS | |||||
|---|---|---|---|---|---|
| kEUR | Note | Jun. 30,<br> 2022 | Dec. 31, <br> 2021 | ||
| Intangible assets (excl. Goodwill) | 4.2.1 | 18,342 | 17,038 | ||
| Right-of-use assets | 4.2.2 | 1,808 | 1,988 | ||
| Property, plant and equipment | 4.2.3 | 3,221 | 2,958 | ||
| Other investments (non-current) | 2,582 | 2,084 | |||
| Trade and other receivables (non-current) | 4 | 4 | |||
| Deferred tax assets | - | - | |||
| Non-current assets | 25,958 | 24,072 | |||
| Inventories | 4.2.4 | 28,462 | 13,063 | ||
| Contract assets | 1,195 | 973 | |||
| Trade and other receivables (current) | 17,770 | 11,304 | |||
| Cash and cash equivalents | 65,720 | 101,813 | |||
| Current assets | 113,148 | 127,152 | |||
| Total assets | 139,106 | 151,224 |
Due to rounding, the sum of the numbers presented in the table above might not precisely equal the totals we provide.
| EQUITY AND LIABILITIES | |||||
|---|---|---|---|---|---|
| kEUR | Note | Jun. 30,<br> 2022 | Dec. 31,<br> 2021 | ||
| Share capital | 4 | 4 | |||
| Capital reserves | 215,291 | 214,100 | |||
| Other equity | 42 | -2 | |||
| Retained earnings | -117,211 | -29,571 | |||
| Profit (loss) | -7,309 | -87,640 | |||
| Equity attributable to owners of the Company | 90,817 | 96,892 | |||
| Non-controlling interests | - | - | |||
| Total equity | 90,817 | 96,892 | |||
| Lease liabilities (non-current) | 4.2.2 | 1,341 | 1,537 | ||
| Warrant liability (non-current) | 7,755 | 12,767 | |||
| Trade and other payables (non-current) | 198 | 158 | |||
| Contract liabilities (non-current) | 132 | 132 | |||
| Other provisions (non-current) | 7,544 | 7,438 | |||
| Deferred tax liabilities | 2,022 | 1,859 | |||
| Non-current liabilities | 18,992 | 23,892 | |||
| Lease liabilities (current) | 4.2.2 | 553 | 528 | ||
| Loans and borrowings (current) | - | 7,522 | |||
| Trade and other payables (current) | 20,370 | 14,000 | |||
| Contract liabilities (current) | 6,208 | 6,208 | |||
| Other provisions (current) | 2,166 | 2,182 | |||
| Current liabilities | 29,297 | 30,440 | |||
| Total liabilities | 48,288 | 54,332 | |||
| Total equity and liabilities | 139,106 | 151,224 |
Due to rounding, the sum of the numbers presented in the table above might not precisely equal the totals we provide.
5
Unaudited interim condensed consolidated statements of cash flows
For the six months ended June 30:
| k | Jun. 30,<br> 2022 | Jun. 30,<br> 2021 | ||
|---|---|---|---|---|
| Result for the period | -7,309 | -5,177 | ||
| Depreciation and amortization | 2,010 | 1,681 | ||
| Finance income excluding the FX valuation of bank accounts | -5,022 | - | ||
| Non-cash effective foreign currency gains | -6,479 | - | ||
| Finance expense | 161 | 1,108 | ||
| Stock compensation | 1,192 | - | ||
| Gain/loss on disposal of property, plant and equipment | 39 | - | ||
| Change in trade receivables not attributable to investing or financing activities | -5,620 | 25 | ||
| Change in inventories | -15,202 | 5,544 | ||
| Change in trade payables | 8,881 | -1,534 | ||
| Change in contract assets | -222 | 386 | ||
| Change in contract liabilities | -1 | -6,108 | ||
| Change in other investments | -1,345 | -13 | ||
| Change in other provisions | 91 | 528 | ||
| Change in other liabilities | -2,523 | - | ||
| Cash flow from operating activities | -31,351 | -3,558 | ||
| Purchase of property, plant and equipment | -760 | -360 | ||
| Investments in intangible assets, including internally generated intangible asset | -2,568 | -1,535 | ||
| Interest received | 10 | - | ||
| Cash flow from investing activities | -3,318 | -1,895 | ||
| Proceeds from borrowings and shareholder contribution and loans | - | 5,742 | ||
| Repayment of loans and borrowings | -7,525 | - | ||
| Payment of lease liabilities | -280 | -307 | ||
| Interest paid | -161 | - | ||
| Cash flow from financing activities | -7,966 | 5,435 | ||
| Net decrease in cash and cash equivalents | -42,636 | -18 | ||
| Net cash and cash equivalents at the beginning of the period | 101,813 | 18 | ||
| FX effects | 6,542 | - | ||
| Net cash and cash equivalents at the end of the period | 65,720 | - |
All values are in US Dollars.
Due to rounding, the sum of the numbers presented in the table above might not precisely equal the totals we provide.
Consolidated
Contacts:
ADS-TECEnergy Investor Relations –
Cary Segall
ADS-TEC Energy
c.segall@ads-tec-energy.com
+1 845-224-8180
Media– United States:
Scott Gamm
Strategy Voice Associates
scott@strategyvoiceassociates.com
+1 917-626-9515
ADS-TECEnergy Europe:
Dennis Müller
SVP Product Marketing & Communication
press@ads-tec-energy.com
6
Exhibit 99.2
Investor Presentation H1 2022 Earnings Call – September 12, 2022
2022 © by ADS - TEC Energy Disclaimer page 2 Cautionary Language Regarding Forward - Looking Statements This presentation includes “forward - looking statements” within the meaning of the “safe harbor” provisions of the U.S. Private S ecurities Litigation Reform Act of 1995. Forward - looking statements may be identified by the use of words such as “may,” “might,” “will,” “would,” “could,” “should,” “forecast,” “intend,” “seek,” “tar get ,” “anticipate,” “believe,” “expect,” “estimate,” “plan,” “outlook” and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Forwar d - l ooking statements are based on our current expectations, estimates, projections, targets, opinions and/or beliefs or, when applicable, of one or more third - party sources. No representation or warranty is made with respect to the reasonableness of any estimates, forecasts, illustrations, prospects or returns, which should be regarded as illustrative only. Such forward - looking statements, which include estimated fi nancial information, involve known and unknown risks, uncertainties and other factors. These forward looking statements include, but are not limited to, express or implied statements regarding our future financia l performance, revenues and capital expenditures, our expectation of acceleration in our business due to factors including a re - opening economy and increased EV adoption and expectations related to the effective deployment of chargers. A number of factors could cause actual results or outcomes to differ materially from those indicated by such forward - looking statements. These factors include, without limitation: changes or developments in the broader general market; ongoing impact from COVID - 19 on our business, customers, and suppliers; macro political, economic, and business conditions; our limited operati ng history as a public company; our dependence on widespread adoption of EVs and increased installation of charging stations; mechanisms surrounding energy and non - energy costs for our charging products; t he impact of governmental support and mandates that could reduce, modify, or eliminate financial incentives, rebates, and tax credits; our current dependence on sales to a limited number of customers; s upp ly chain interruptions; impediments to our expansion plans; the need to attract additional customers; the effects of competition; and risks that our technology could have undetected defects or errors. Further information on these and other factors that could affect the forward - looking statements we make in this presentation can be found in the documents that we file with or furnish to the U.S. Securities and Exchange Commission, including our 20 - F filed with the SEC on April 28, 2022 and proxy statement/prospectus filed with the SEC o n December 7, 2021, which are available on our website at https://adstec - energy.com/investor - relations - corporate - governance/ and on the SEC's website at www.sec.gov. Additional information will also be set forth in other filings that we make with the SEC from time to time. All forward - looking statements in this presentation are based on our current beliefs and on information available to us as of the da te hereof, and we do not assume any obligation to update the forward - looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made or to upd ate the reasons why actual results could differ materially from those anticipated in the forward - looking statements, even if new information becomes available in the future. Industry and Market Data Although all information and opinions expressed in this presentation, including market data and other statistical information , w ere obtained from sources believed to be reliable and are included in good faith, the company has not independently verified the information and makes no representation or warranty, express or implied, as to its ac curacy or completeness. for the correctness of any such information. In addition, certain of the industry and market data included in this presentation, if not labelled otherwise, is derived from the company ’s internal research and estimates based on the knowledge and experience of its management in the markets in which it operates as well as the company’s review of internal sources as well as independent sources. Non - GAAP Financial Measures Some of the financial information and data contained in this presentation, such as Adjusted Cost of Sales and Adjusted Gross Pro fit, have not been prepared in accordance with United States generally accepted accounting principles (“GAAP”). This presentation includes non - GAAP financial measures which have certain limitations and should not be considered in isolation, or as alternatives to or substitutes for, financial measures determined in accordance with generally accepted accounting principles in the United States (“GAAP”). The non - GAAP meas ures as defined by us may not be comparable to similar non - GAAP measures presented by other companies. Our presentation of such measures, which may include adjustments to exclude unusual or no n - recurring items, should not be construed as an inference that our future results will be unaffected by these or other unusual or non - recurring items. See the “ Financial Information – Non - IFRS ” slide for a reconciliation of these non - GAAP financial measures to the most directly comparable GAAP financial measures. Use of Trademarks and Other Intellectual Property All registered or unregistered service marks, trademarks and trade names referred to in this presentation are the property of th eir respective owners, and the use herein does not imply an affiliation with, or endorsement by, the owners of these service marks, trademarks and trade names. Third - party logos included herein may represent p ast customers, present customers or may be provided simply for illustrative purposes only. Inclusion of such logos does not necessarily imply affiliation with or endorsement by such firms or businesses . T here is no guarantee that we will work, or continue to work, with any of the firms or businesses whose logos are included herein in the future.
2022 © by ADS - TEC Energy page 3 ADS - TEC Energy H1/2022 Highlights
2022 © by ADS - TEC Energy page 4 H1/2022 Financial Highlights Strong Progress Transforming to an International and Growing Business Orders: €70.9m (YTD August €152.3m) Revenue: €9.4m Revenue Outside Germany: €5.1m / 3.9x 1) Gross Profit: € - 4.8m Cash on Hand: €65.7m Cost of Sales: € - 14.2m • Significant increase in orders from U.S. and Europe leading to a backlog of €176.7m • Full - year international expansion with revenue outside of Germany up 4x from H1 2021 • H1 2022 financials came in on a low level as expected due to customer delivery dates and material delivery constraints • High revenue visibility for H2 2022 • Order book for 2023 deliveries already started building up 1) year - over - year comparable
2022 © by ADS - TEC Energy page 5 H1/2022 Financial Highlights Transformation Toward an International and Broader Customer Base Germany 46% 11% Revenue H1 2021 Germany Spain (.4%) Great Britain (.05%) Switzerland (2%) North America (0%) Other European Countries (3.7%) Germany (94%) Revenue H1 2022 Germany Spain Great Britain Switzerland North America Germany 46% North America 27% 8% 8% 11% 11%
2022 © by ADS - TEC Energy page 6 Growth Guidance for H2/2022 €176m EUR Order Backlog Supports Full Year Guidance Total revenue expected to be in the range of €80m to € 100m for FY2022, representing a more than 100% YOY growth, depending upon the stability of the supply chain Revenue for FY2022 is backloaded to H2 2022, high visibility In H1 2022, 39 charging units delivered In FY 2022, ADSE expects to deliver 400 – 500 charging units (as in H2 2020)
2022 © by ADS - TEC Energy page 7 ADS - TEC Energy Consolidated Income Statement kEUR H1/22 H1/21 Revenues €9.431 €20.947 Cost of sales €14.255 €19.433 Gross Profit - €4.824 €1.514 Reserach and development expenses €1.030 €1.583 Selling and general administrative expenses €12.706 €4.083 Net other operating income €76 €83 EBIT - €18.484 - €4.069 Finance result €11.341 - €1.108 Net profit - €7.143 - €5.177
2022 © by ADS - TEC Energy page 8 ADS - TEC Energy Consolidated Balance Sheet kEUR June 30, 2022 Dec 31, 2021 Intangible assets €18.342 €17.038 Property plant and equipment €5.029 €4.946 Other €2.587 €2.088 Non - current assets €25.958 €24.072 Inventories €28.462 €13.063 Contract assets €1.195 €973 Trade receivables €17.771 €11.303 Cash and cash equivalents €65.720 €101.813 Current assets €113.148 €127.152 Equity €90.817 €96.892 Non - current liabilities €18.992 €23.892 Trade payables €20.370 €14.000 Contract liabilities €6.208 €6.208 Other €2.719 €10.232 Current liabilities €29.297 €30.440 Balance Sheet total €139.106 €151.224
2022 © by ADS - TEC Energy page 9 ADS - TEC Energy Consolidated Statement of Cash Flows kEUR H1/22 H1/21 Net result - €7.309 - €5.177 Non - cash items - €8.099 €2.789 Changes in working capital - €15.943 - €1.170 Cash flow from operating activities - €31.351 - €3.558 Capital expenditures - €3.318 - €1.895 Free cash flow - €34.669 - €5.453 Cash flow from financing activities - €7.967 €5.435 Net cash flow - €42.636 - €18 Net cash €65.720 -
2022 © by ADS - TEC Energy page 10 ▪ Macro environment remains very favorable toward continued growth in EV adoption ▪ ADS - TEC Energy has identified location of North American plant and expects it operational during Q4/2022 ▪ Revenue for FY 2022 , expected in the range of 80 to 100m EUR and backed by strong order book, but this depends upon the supply chain ▪ Order book for deliveries in 2023 already building up and confirming ADSE’s growth strategy ▪ ChargePost successfully launched in Europe and significant orders booked ▪ 39 charging units delivered in H1, 400 - 500 delivered units expected for FY 2022 ▪ Order bookings in North America are expected to increase significantly in H2/2022 ▪ Continued expansion of customer base across multiple countries in Europe ADS - TEC Energy Outlook FY 2022 and Beyond
2022 © by ADS - TEC Energy ADS - TEC Energy is the leading technology company offering battery - buffered, ultra - fast charging solutions, and commercial & industrial energy storage systems … … for your transition into a safe, innovative and sustainable future of energy!
2022 © by ADS - TEC Energy page 12 13.09.2022 Hardware Software Services ADS - TEC Ecosystems - Platform
2022 © by ADS - TEC Energy page 13 13.09.2022 We are offering eco - platforms for 3 major applications. ADS - TEC Energy Ultra - Fast - Charging Infrastructure C&I Energy Storage Systems
2022 © by ADS - TEC Energy page 14 13.09.2022 Product Offering ADS - TEC Energy Ultra - Fast - Charging Infrastructure C&I Energy Storage Systems • ChargeBox • ChargePost • ChargeTrailer • PowerBooster • Rack Systems • Container Systems • MyPowerPlant ®
2022 © by ADS - TEC Energy page 15 13.09.2022 Strong Product Development Pipeline ADS - TEC Energy Ultra - Fast - Charging Infrastructure C&I Energy Storage Systems • ChargeBox launched in US Q1/2022 • ChargePost launch in EU Q4/2022 • ChargePost launch in US Q3/2023 • Expanded C&I portfolio in EU with launch in Q4/2022 • MyPowerPlant ® with expected launch in 2024
Invest in the Electrified Future on NASDAQ with ADSE page 16
2022 © by ADS - TEC Energy page 17 13.09.2022 The world of energy is going to change completely. ADS - TEC Energy From fossil fuel energy production … … to renewable energies
2022 © by ADS - TEC Energy page 18 13.09.2022 Centralized structures become more and more decentralized intelligent solutions. ADS - TEC Energy The capacity of a few large power plants … … will be provided by countless small decentralized solutions
2022 © by ADS - TEC Energy page 19 13.09.2022 D ecentralized energy systems need flexibility as a key component. We provide decentralized ECO platforms containing batteries to offer this flexibility. ADS - TEC Energy Energy Systems will follow the same route being decentralized. ADSE is providing eco - platforms for the operation of decentralized business models
2022 © by ADS - TEC Energy page 20 13.09.2022 With our eco - platform we offer different f ields of operations and enable future power companies for their localized and individual business models. ADS - TEC Energy ADS - TEC Eco - Platform Ultra - Fast - Charging Optimization of Self - Consumption Integration of Renewables Integration of PV Reduction of CO 2 Sector Coupling between Grid Connection, Heat, Mobility and Electricity Grid Services Arbitrage Advertisement Operation of Charging Points
2022 © by ADS - TEC Energy page 21 13.09.2022 Possible use cases and applications for battery - buffered ultra - fast charging solutions. ADS - TEC Energy Convenience & Fueling Condominiums & Apartments OEM Auto Dealers Hotels Office / Industry Rental Cars Municipalities Fleets … and many more! Large Retail Solutions
2022 © by ADS - TEC Energy page 22 13.09.2022 US: Total addressable market (TAM) for battery - buffered ultra - fast charging solutions ADS - TEC Energy OEM Auto Dealers Rental Cars Fleets Municipalities 18k Dealer Sites >2k Large Rental Sites 150 Cities >500k ppl . 71k Large Last - Mile Sites $54B TAM Convenience & Fueling Condominiums & Apartments Hotels Office / Industry 67k Stations W/Convenience 5.5K High End Hotels 160k Condo Buildings 45k Sites >200k sqft Ultra - Fast Charging “on the go” Ultra - Fast Charging “to support business”
2022 © by ADS - TEC Energy page 23 13.09.2022 EU: Total addressable market (TAM) for battery - buffered ultra - fast charging solutions ADS - TEC Energy OEM Auto Dealers Rental Cars Fleets Municipalities 52k Dealer Sites >2.1k Large Rental Sites 215 Cities >300k ppl . 1k Large Last - Mile Sites $ 62 B TAM Convenience & Fueling Large Retail Solutions Hotels Office / Industry 136 k Stations W/Convenience 9 .1K High End Hotels 9.5 k Sites 40k >250 Employees On Site Ultra - Fast Charging “on the go” Ultra - Fast Charging “to support business”
2022 © by ADS - TEC Energy page 24 13.09.2022 Who are our direct partners and customers and why do they work with us? ADS - TEC Energy Future - Power - Companies Start - ups Automotive OEM’s Medium - Size Utilities Oil & Gas Companies • Companies with ~500 Employees • Energy Transition/Production/Sup ply/Trading • Integration of Renewables • Young Companies who understood the big potential due to … • Energy Transition/Production/Sup ply/Trading • Mega - Trend E - Mobility • Sustainability • CO2 Reduction • Integration of Renewables • Big Car Manufacturers • Need to sell EV’s to fulfill CO2 targets and governmental restrictions • Enabling EV Sales at their Dealer Sites • Using Dealer Network to built - up Charging Networks • Changing existing business models • Big Oil & Gas Companies • Need to change their business model due to increasing EV’s in parc • Compensation of declining Sales of billions of barrels of Oil & Gas • Using their Oil & Gas Stations to built - up Charging Networks We offer best - in - class decentralized, intelligent and managed assets to run individual business models. We are not a competitor! We are the ‘Intel Inside‘ where the future - power - companies run and operate their business cases.
2022 © by ADS - TEC Energy page 25 13.09.2022 All of our units may be branded by our customers. But one thing will be co - branded. It’s an ADS - TEC! ADS - TEC Energy
References
2022 © by ADS - TEC Energy More than 250 MWh sold… Main focus Europe and USA + Australia, Asia and Africa Various Application • Grid Stabilization (e.g. FCR) • Industrial Peak Shaving • Battery assisted EV charging • Backup Power Supply • PV - Diesel - Hybrid Island Systems • Community Storage • Residential Storage • High Power Charging page 27 13.09.2022 Trust our Experience – Exemplary Batteries in Use ADS - TEC Energy
Examples of Porsche Centers in Germany, Switzerland, France and Sweden 320 kW ultra fast charging stations The car dealerships are usually located at convenient locations on highway exits or main roads. About 450 charging stations w ith ChargeBoxes and more than 1000 dispenser have already been supplied to Porsche in 2020/2021. Further systems are on order. page 28
Porsche Center Pforzheim 320 kW ultra fast charging station with ChargeBox The system is located at the entrance of the Porsche parking lot in front of the main entrance. It is close to the highway A8 , e xit Pforzheim - Nord. There is a garden center as well as many other shopping facilities in the direct neighborhood. page 29
PowerBooster examples in use for charging, grid stabilisation, peak shaving and many more applications Charging park EnBW Stuttgart, Drewag MobiPunkt (5x150 kW) in Dresden, TEAG quarter storage in Thuringia, PowerBooster from Wirsol (Klimaarena Sinsheim), isolated solution hospital Vanga (DR Congo), quarter solution "Grid Control", filling stations in France, several PowerBooster for Wenea in Spain. page 30
Microgrid Stable energy far from power supply networks In a 20 - foot container, ADS - TEC delivers a 150 kW battery system including control for a hybrid system consisting of wind, solar, diesel and battery to Lithuania. Smart microgrid unit that effectively forego the use of fossil fuel. page 31
Isolated power Hybrid power plant Off - grid plant with a multi - MWh large - scale battery storage system from ADS - TEC. Optimized ecological power production with volatile production units as a complete isolated hybrid power plant. page 32