Voltabox Customers Continue to Dispose Cautious - Management Board Adjusts Forecast Accordingly

Delbrück, Germany, December 7, 2020 - Voltabox AG [ISIN DE000A2E4LE9] does not expect, on the basis of the current fourth quarter call-offs, to achieve its business objectives for the fiscal year 2020 due to the slower recovery of the customers' end markets in the fourth quarter. This is mainly due to the postponement by several customers of orders originally planned for the current quarter into the coming year given the difficulties that have again arisen in planning during the coronavirus pandemic. Orders that had been announced have also failed to materialize for the same reason.

Thus, the company is lowering its forecast for revenue for the current fiscal year to € 17 million, having previously expected to reach the lower end of the range from € 25 to 45 million. EBITDA margin is expected to be at -100 percent after the most recent -60 percent, while absolute EBITDA is expected to be only slightly below previous expectations at around € -17 million. Free cash flow is expected to remain slightly negative, driven in particular by the reduced investments in the current situation.
 

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.: +49 (0) 52 50 - 99 30-685
Fax: +49 (0) 52 50 - 99 30-901
Email: [email protected]