DGAP-News: Compleo Charging Solutions AG
/ Key word(s): Annual Results/Takeover
Compleo sets course to further increase its growth pace in 2021 Dynamic growth course in 2020 confirmed | Revenues more than doubled compared to the previous year to over EUR 33 million in 2020 | Adjusted EBITDA margin improved significantly in 2020 | Sales activities launched in Switzerland, Austria and Poland since the IPO | Additional growth spurt through merger with wallbe GmbH Dortmund, 26 March 2021 - Compleo Charging Solutions AG ("Compleo"), a leading provider of charging solutions for electric vehicles, significantly increased its revenues in 2020 and improved its profitability compared to the previous year. At the same time, the company consistently continued to implement its growth strategy since its IPO. For example, Compleo has commenced with sales activities in Switzerland, Austria and Poland and successfully further developed its product portfolio. Compleo's acquisition of wallbe GmbH ("wallbe"), announced today, is expected to provide additional tailwind. Through this transaction, Compleo is achieving a further milestone in building one of the leading providers of electromobility solutions in Europe. wallbe transaction The preliminary purchase price amounts to EUR 34.8 million, around 2/3 of which will be paid in cash from Compleo's current liquidity. The remaining portion of the purchase price will be paid by issuing new shares as part of a capital increase from authorized capital. For this purpose, Compleo's share capital will be increased by 130,000 shares; after the capital increase, the share capital will amount to EUR 3,553,480. The previous owners of wallbe have agreed to a lock-up agreement of two years. The closing of the transaction is subject to board approval on the seller side. Compleo expects the transaction to be completed by the end of April 2021. "We and wallbe complement each other, therefore this will provide an additional boost to our growth path. The merger will further strengthen our fully integrated hardware, software and service business and noticeably increase our market share. Together, we have now delivered over 45,000 charging points in the European market. These are excellent prerequisites for further dynamic growth in 2021 and beyond. We not only intend to grow organically, but also see ourselves as a market consolidator," commented Georg Griesemann, Co-CEO of Compleo. Compleo is seeking to become one of Europe's leading manufacturers of charging stations and solutions. To achieve this goal, additional acquisitions are an important cornerstone of the strategy. Fiscal year 2020 and outlook for 2021 With the first DC charging stations in Germany that comply with calibration regulations, Compleo has already been setting technological standards in the market since the beginning of 2020. The high demand for DC charging stations such as the Cito 240 and Cito 500 are proof of Compleo's pioneering role in DC charging technology. A total of more than 1,500 DC charging stations had been delivered by the end of 2020. Driven by the huge increase in demand, Compleo 2020's total revenues increased by around 118 percent from EUR 15.2 million in the previous year to EUR 33.1 million. DC charging stations accounted for around 45 percent of total revenues (previous year: 4 percent), while AC charging stations accounted for 31 percent (previous year: 53 percent). EUR 8.1 million in revenues in 2020 were attributable to project and installation, service and maintenance, and other (previous year: EUR 6.5 million). At the same time, profitability was improved in 2020 through efficiency gains compared to 2019. This was possible despite the expansion of the workforce, particularly in sales and administration. Earnings before interest, taxes, depreciation and amortization (EBITDA) adjusted for non-recurring effects[1] amounted to EUR -2.7 million (previous year: EUR -2.3 million). The adjusted EBITDA margin thus improved by 6.9 percentage points to -8.1 percent (previous year: -15.0 percent). Georg Griesemann: "In 2020, we took advantage of our opportunities and grew extremely dynamically by increasing our revenues by more than 100%. Given the rapid expansion of electromobility in Germany and throughout Europe, we see excellent opportunities for Compleo in the future. With the strategic milestones achieved and the successful integration of wallbe, we are aiming to significantly increase our revenues again in 2021." Forecast for 2021 The Management Board expects revenues for Compleo Charging Solutions AG of between EUR 50 million and EUR 60 million for fiscal year 2021. In addition, wallbe is expected to generate revenue of between EUR 25 million and EUR 30 million for the full year 2021. wallbe will be fully consolidated upon completion of the transaction, so that the financial figures will be included in the Group on a correspondingly pro-rata basis from that point on. The consolidated Compleo Group is expected to break even on adjusted EBITDA in 2021. The full report on fiscal year 2020 will be made available by Compleo on April 30, 2021, on the company's website https://ir.compleo-cs.com/ in the "Publications" section.
Statement of financial position at December 31, 2020 and December 31, 2019
Statement of financial position at December 31, 2020 and December 31, 2019
Statement of cash flows for the years ended 2020 and 2019
About Compleo | Compleo is a leading supplier of charging solutions for electric vehicles. The company supports complete solution providers with its charging stations and, if required, also with the planning, installation, maintenance, service or backend of the charging infrastructure. Compleo's offering includes both AC and DC charging stations. Compleo's DC charging stations are the first DC charging stations on the market that comply with German calibration law (Eichrecht). The company develops and manufactures all products at its Dortmund site. The manufacturer focuses on innovation, safety, consumer-friendliness and economy. Its customers include Allego, E.ON, EWE Go, Deutsche Post DHL Group, Deutsche Telekom, Siemens and over 150 public utilities in Germany. Compleo started production of the first charging stations in 2009. The fast-growing company currently employs around 250 people. Compleo is listed in the Prime Standard segment of the Frankfurt Stock Exchange since October 2020 (ISIN: DE000A2QDNX9). More information is available at: www.compleo-cs.de/ IR Contact Compleo Charging Solutions AG / / / / [1] In 2020, the non-recurring effects of EUR 1.6 million mainly comprised IPO costs (EUR 0.9 million) and IT-related consulting and structural costs (EUR 0.2 million).
26.03.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | Compleo Charging Solutions AG |
Oberste-Wilms-Straße 15a | |
44309 Dortmund | |
Germany | |
Phone: | +49 231 534 923 70 |
E-mail: | ir@compleo-cs.de |
Internet: | https://www.compleo-cs.com/ |
ISIN: | DE000A2QDNX9 |
WKN: | A2QDNX |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1178878 |
End of News | DGAP News Service |
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1178878 26.03.2021