ADS-TEC Energy (NASDAQ: ADSE)

Last close As at 23/05/2024

USD11.12

0.01 (0.09%)

Market capitalisation

USD563m

ADS-TEC Energy makes battery storage-based energy platforms. These buffer systems enable consistent, high-power delivery for systems such as EV charging.

ADS-TEC Energy’s combined storage, buffering and charging systems are aimed at specialist applications where the grid capacity is unable to support ultra-fast charging, the premium end of the electric vehicle charging infrastructure sector. Management estimates that the total addressable market for Europe and the US is worth €80bn for more than 725,000 buffered charging units. The secondary market is for industrial applications, providing power storage and smoothing as the grid grapples with the supply/demand imbalances from the increasing renewables generation.

Latest Insights

Industrials | Initiation

ADS-TEC Energy — Serving the energy transition

Industrials | edison tv

ADS-TEC Energy – EFK interview

Sector

Industrials

Equity Analyst

David Larkam

David Larkam

Analyst, Industrials

Key Management

  • Prof. Dr. Kurt Lauk

    Chairman

  • Thomas Speidel

    CEO

  • Wolfgang Breme

    CFO

Balance Sheet

Forecast net debt (€m)

N/A

Forecast gearing ratio (%)

N/A

Share Price Performance

Price Performance
% 1M 3M 12M
Actual 2.0 14.6 85.0
Relative (1.8) 10.7 45.6
52 week high/low US$11.2/US$5.3

Financials

FY23 revenue grew by more than 300% to €107.4m, with management forecasting 85% growth to €200m in revenue in FY24. Volume growth is starting to leverage the P&L positively, with the group EBITDA positive in Q423 at €4.9m, supporting our expectation for ADS-TEC to be EBITDA positive in FY24 and EBIT positive in FY25. The group had €29m in gross cash at the year-end (full financials to be released late April).

Y/E Dec Revenue (€m) EBITDA (€m) PBT (€m) EPS (fd) (c) P/E (x) P/CF (x)
2022A 26.4 (29.3) (13.6) (32.9) N/A N/A
2023A 107.4 (36.5) (45.9) (93.1) N/A N/A
2024E N/A N/A N/A N/A N/A N/A
2025E N/A N/A N/A N/A N/A N/A

Further insights

insight

Industrials

ADS-TEC Energy: EKF 2023 QuickView

Thematics

thematic

Industrials

The long and winding road

Subscribe to Edison

Get access to the very latest content matched to your personal investment style.

Sign up for free