Ads-Tec Energy(US:ADSE)2025-05-12 13:30Financial Performance - Total revenue for FY2024 reached €110.0 million, slightly exceeding the €107.4 million in FY2023[57] - Service revenue almost tripled, increasing from €2.0 million in FY2023 to €5.6 million in FY2024[57] - The company achieved its first-ever positive gross profit of €19.4 million, representing a gross margin of 17.7% in FY2024, a significant improvement from a negative gross margin of €-2.9 million (-2.7%) in FY2023[60] - Adjusted EBITDA turned positive at €2.2 million for FY2024, a substantial turnaround from €-38.1 million in the previous year[60] - Cash and cash equivalents stood at €22.9 million as of December 31, 2024[60] Business Growth and Strategy - The customer base grew by more than 200% to 55 customers across Europe, USA, and Canada[57] - The company is focusing on a resilient business model backed by long-term multi-revenues and proven technology[17, 63] - The company plans to develop large-scale Battery Energy Storage System (BESS) projects in 2025 and beyond[26] - A large BESS project in Europe, exceeding 500MW/1GWh, is currently being planned, with land secured and grid connection application submitted, with official project start expected in 2025[49] Financial Position - The company issued senior secured convertible notes with an aggregate principal amount of $50.0 million and warrants to purchase 1,116,072 ordinary shares[63] - Existing shareholder loans were extended until August 31, 2026, providing an open credit line of $25.6 million[63]