First-Time Positive Gross Profit and Adjusted EBITDA
ADS-TEC Energy announced a positive gross profit and adjusted EBITDA for the first time in the full year 2024, marking a significant financial milestone.
Significant Increase in Service Revenue
Service revenues nearly tripled to EUR5.6 million in 2024, showing substantial growth in the company's service offerings.
Customer Base Expansion
The customer base increased over 200% to 55 customers across Europe, the U.S., and Canada, indicating successful market expansion.
Cost Reduction Achievements
Cost of sales was reduced by 80%, contributing to a positive full year gross margin of 70.7%, a significant improvement from the prior year.
Strong Financial Position
The company secured a EUR50 million convertible note and extended shareholder loans, providing ample financial resources for future growth.
Large-Scale BESS Project Development
Development of a 500 megawatt and 1 gigawatt-hour large-scale BESS project in Europe is underway, with grid access applications submitted.