ADS-TEC Energy Announces Record Financial Results for Fiscal Year 2023

ADS-TEC Energy plc (NASDAQ: ADSE), a leader in ultra-fast charging technology, reported a historical performance for the fiscal year 2023, with record revenues and significant operational improvements. The company disclosed these results on April 30, 2024.

For the fiscal year 2023, ADS-TEC Energy achieved a revenue of approximately EUR 107.4 million, an increase from EUR 26.4 million in FY 2022. The fourth quarter of 2023 was particularly notable as it was the first profitable quarter for the company with an Adjusted EBITDA of around EUR 4.6 million.

The company also highlighted operational advancements, including the installation of over 1,500 battery-based DCFC charging points and shipping over 2,500 units. These achievements are part of ADS-TEC Energy’s strategic expansion efforts which now extend to over 15 countries.

Looking ahead, ADS-TEC Energy anticipates a continuance of strong performance with projected revenues of at least EUR 200 million for 2024. They expect to maintain Adjusted EBITDA positivity throughout the fiscal year, fueled by robust demand and an evolving product line designed to meet the requirements of new electric vehicle technologies.