Investor Presentation • Oct 19, 2018
Investor Presentation
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USA Roadshow & Conference / October 2018
* Closing pending. ** Company under development. *** Closing pending; previously Navitas Systems, LLC.
With 169 FTE* (excl. Navitas and ACCURATE employees), technology hubs and state-of-the-art production facilities, Voltabox is well positioned to grow its business on a global scale.
*** Acquisition is subject to approval by the
American CIFUS authority.
Jürgen Pampel, CEO
Andres Klasing, CFO
Klaus D. Frers, Chairman
Prof. Dr. Martin Winter, (Deputy Chairman)
Hermann Börnemeier
USA Roadshow & Conference Oct. 2018 Investor/Analyst Presentation 6
A spirally wound design (jelly-roll). Designated by size, e.g. 26650 cylindrical battery (Diameter: 26mm, length: 65.2 mm; code for cylindrical shape: 0)
A prismatical design indicate a flat battery design. The stacks can be wound (as shown in the photo) or stacked (with alternating cathode/separator/anode structure). The stacks are usually inserted into rigid casing to form prismatic
Rather than rigid metallic casing, conductive foil-tabs are welded to the electrodes and seal the battery fully. The tacks inside can be wound or stacked. Swelling and gassing could be a concern for pouch cells
| Cell Package | Impedance | Thermal | Tabbing | Cell Cost | Battery Cost |
|---|---|---|---|---|---|
| Cylindrical | Poor | Poor | Minimal | Medium | High |
| Prismatic (Wound) | Poor | Poor | Minimal | Medium | Medium |
| Prismatic (Stacked) | Good | Poor | High | High | Medium |
| Pouch (Wound) | Poor | Good | Minimal | Medium | High |
| Pouch (Stacked) | Good | Good | High | High | High |
Source: IDTechEx
NMC 24V standard NMC 24V air-cooled NMC 24V water-cooled NMC 48V standard NMC 48V air-cooled NMC 48V water-cooled
NMC 103V water-cooled
NMC 36V standard NMC 40V standard NMC 40V water-cooled LTO 48V standard LTO 83V standard
LTO 83V long LFP 24V standard NMC 48V Pouch 3x8 LFP round cell module 4x9 LFP round cell module
* Excerpt from product portfolio.
Many years of experience in development and production of electronic components (via parent company paragon GmbH & Co.
KGaA) Exceptional integration power
(experience in automotive interfaces)
* HEV/PHEV Buses over 5 meters, mining vehicles, agriculture & construction, motorcycles.
In June 2018 Voltabox rearranged the strategically important agreement with Triathlon for a close partnership in order to supply the market with innovative and technologically advanced Li-Ion batteries.
Early implementation of a differentiation strategy with three essential manufacturing and sales players: Voltabox, Triathlon, Navitas
Ensuring a fast market penetration at Voltabox' own pace in both Europe and the USA in order to occupy a leading market position
Creating competitive advantages via transfer of technology know-how
Creating market entry barriers for competitors by securing access to exclusive system components
Time and cost advantages compared to own development of system components
Additional access to the (shared) margins from the end customer business on the system level
Profitability broadly in line with Voltabox
Expected revenues of around €25m in 2018
Voltabox took over Navitas Systems for €40m in order to accelerate market penetration in the market segments of particularly rapid growth.
With the acquisition, Voltabox have come a great deal closer to the goal of becoming the
in the field of battery systems for intralogistics
Navitas opens up new applications and thus completely new prospects
in the North American market
Navitas has established a market-leading position in the region with its "Starlifter" batteries
Navitas employs a total of 85 people - including top experts with in-depth cell know-how with an A123 background
USA Roadshow & Conference Oct. 2018 Investor/Analyst Presentation 18
Concurrent Design is an engineering services provider located in Austin, Texas with proven and long-standing expertise in R&D
More than 20 highly skilled employees, mostly engineers, software developers & project managers
Expertise from more than 1,700
successfully completed projects
Multiple boost of
velocity for Voltabox by additional resources
Concurrent Design was the first acquisition for Voltabox in this field since its successful IPO. The whole team has been integrated into the structures of Voltabox of Texas and is now mainly working on projects for Komatsu.
USA Roadshow & Conference Oct. 2018 Investor/Analyst Presentation 19
Voltabox acquired ACCURATE Smart Battery Systems GmbH in August 2018 for an amount of € 5m. The company and its portfolio will be a cornerstone for the expansion of the segment Voltaforce.
Development and production of high-quality battery systems for several volume markets
ACCURATE will form the centre of the Voltaforce-segment and hereby focus on high-margin mass market applications such as pedelecs, E-scooters,
gardening, medical technology etc.
Wide performance spectrum of battery packs to complex Lithium-Ion Systems incl. selfdeveloped BMS – ACCURATE is a pivotal puzzle piece in terms of providing a full-service offer for electrification of new target markets
60-months order backlog with 100% weighting as of H1/2018
* As of Jun. 30, 2018
↗ € 18.1 million
↗ 144 employees
Revenues (previous year: € 10.6 m)
(June 30, 2017: 78)
On the way to a new level
$$
7 \in 1.7 \text{ million}^{7758}
$$
EBITDA (previous year: € 0.2 m)
↗ € 0.1 million
EBIT (previous year: € -0.7 m)
FTE up 45.5 % to 144 (excl. 25 temporary employees)
EBITDA increased 758 % to € 1.7 million
H2 2017 H2 2018
Revenues 2018 (e)*
* In the course of the acquisition of Navitas System – expected initial consolidation in Q3 2018
EBIT margin 2018 (e)**
**Considering € 2m add. expenses from rearrangement of intralogistics partner agreement
| Financial performance indicators of Voltabox AG |
2017 | 2018 | |||||
|---|---|---|---|---|---|---|---|
| [in € million / as indicated] |
Forecast | Results | Forecast (old) | Forecast (new) | |||
| Group revenue | 25 | 27* | Approx. 60 | Approx. 65-70** | |||
| EBIT margin | Slightly positive | 2.1% | Approx. 10% | Approx. 7%*** | |||
| Analyst estimates | 2017 | 2018 | |||||
| Group revenue | 25.5 | 58.2 | |||||
| EBIT margin | 0.8% | 10.1% | |||||
| * Thereof around € 2 million with parent company paragon AG (now paragon GmbH & Co. KGaA) In the course of the acquisition of Navitas System – expected initial consolidation in Q3 2018 *Considering € 2m add. expenses from rearrangement of intralogistics partner agreement |
| | Jan. 11/12, | Oddo Forum, Lyon |
|---|---|---|
| --- | ------------- | --------------------- |
USA Roadshow & Conference Oct. 2018 Investor/Analyst Presentation 33
i.a. prismatic line (outstanding payment), pouch line, technology/emachines, charger/inverter, property deposit, measuring devices etc.
*Property, Plant and Equipment
Liquid funds of € 102.7 million
EBITDA increased 240,9 % to € 3 million
Group revenue increased 88.2 % to € 27.3 million
Selected parameters from the consolidated income statement of Voltabox AG
Current assets € 139.6m
Equity € 155.0m
Current provisions and liabilities € 7.4m
Voltabox invested in the further expansion of business activities
(Accounting date: Dec. 31, 2017)
Assets + equity and liabilities € 170.8m (2016: € 39.0m)
This presentation is given to you in strict confidence. By attending the presentation, you agree that no part of this presentation or disclaimer may be disclosed, distributed or reproduced to any third party without the consent of Voltabox AG ("Voltabox").
This presentation is being provided for the sole purpose of providing the recipients with background information about Voltabox's business. This presentation, including the information contained in this disclaimer, does not constitute an offer, invitation or recommendation to subscribe for or purchase any security and neither the presentation, disclaimer nor anything contained in them forms the basis of any contract or commitment. This presentation does not purport to summarize all information that an investor should consider when making an investment decision. It should be read in conjunction with Voltabox's other continuous disclosure announcements. Before making an investment decision you should consider whether it is suitable for you in light of your own investment profile and objectives and financial circumstances and the merits and risk involved.
No representation, express or implied, is made as to the fairness, accuracy, completeness or correctness of information, opinions and conclusions contained in this presentation, including the accuracy, likelihood of achievement or reasonableness of any forecasts, prospects, returns or statements in relation to future matters contained in the presentation ("forward-looking statements"). Such forward-looking statements are by their nature subject to significant uncertainties and contingencies and are based on a number of estimates and assumptions that are subject to change (and in many cases are outside the control of Voltabox and its Directors) which may cause the actual results or performance of Voltabox to be materially different from any future results or performance expressed or implied by such forward-looking statements. Forward looking statements are provided as a general guide only and should not be relied upon as an indication or guarantee of future performance.
To the maximum extent permitted by law, neither Voltabox nor its related corporations, directors, employees or agents, nor any other person, accepts any liability, including, without limitation, any liability arising from fault or negligence, for any loss arising from the use of this presentation or its contents or otherwise arising in connection with it.
You represent and confirm by attending and/or retaining this presentation, that you accept the above conditions.
Voltabox AG
Investor Relations
Dr. Kai Holtmann
Artegastraße 1
D-33129 Delbrück
Phone: +49 (0) 5250 9930-964
E-Mail: [email protected]
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