Investor Presentation • Aug 21, 2018
Investor Presentation
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H1 2018 - Group Interim Report
↗ € 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)
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2018
Jürgen Pampel, CEO
Andres Klasing, CFO
Klaus D. Frers, Chairman
Prof. Dr. Martin Winter, (Deputy Chairman)
Hermann Börnemeier
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 |
| Prismatical (Wound) |
Poor | Poor | Minimal | Medium | Medium |
| Prismatical (Stacked) |
Good | Poor | High | High | Medium |
| Pouch (Wound) | Poor | Good | Minimal | Medium | High |
| Pouch (Stacked) | Good | Good | High | High | High |
Source: IDTechEx
| Q4 2016: Expansion of intralogistics market with batteries for Automated Guided Vehicles |
|
|---|---|
| Q3 2017: First selected mass market entry with starter batteries for motorbikes |
|
| Q4 2017: First strategic partnership in the area of agriculture and construction |
|
| Q1 2018: Acquisition of the engineering services provider Concurrent Design Q2 2018: Strategically important rearrangement of intralogistics partner agreement |
|
| Q2 2018: Takeover of Navitas systems and entry into production of customized battery cells |
|
| Today: | Significant future growth prospects backed by strong 60-month order backlog of € 740 million* weighted 100 percent |
Q2 2016: Exclusive strategic partnership with leading mining equipment provider
Q2 2018: Takeover of Navitas systems and entry into production of customized battery cells
* As of June 30, 2018
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 Lithium-Ion batteries.
Early implementation of a differentiation strategy with three essential manufacturing and sales players: Voltabox, Triathlon, Navitas
Ensuring an accelerated market penetration at Voltabox' own pace in Europe and the USA in order to achieve market leadership
Creating competitive advantages through technological know-how transfer
Creating barriers to market entry for competitors by securing access to specific resources/components
Time and cost advantages compared to own development work
Additional development of the (shared) margins from the end customer business (compared to the previous module sales)
Overall usage of batteries will increase due to e -mobility mega trend Ongoing substitution of lead acid batteries resp. diesel generators by lithium -ion batteries in occupied submarkets 11% global market growth expected for battery systems in current Voltabox end markets in 2018 Current Voltabox end markets HEV/PHEV buses over 5 meters, forklift/intralogistics, mining vehicles/equipment Future Voltabox end markets Construction & agriculture, Pure Electric Buses over 5 meters, Airport, Car (hybrid) – PHEV, microEV, etc. Further potential Voltabox end markets Delivery trucks & other on road excl. buses, indoor cranes/platform lifters, pedelecs/e -bike, motorbike, etc. Others Pure electric cars (premium & mainstream), microEV – 3 wheel & rickshaw, wearables, consumer, military, etc. Source: IdTechEx (2017)
*Partly Lead Acid and Li Ion
60-months order backlog with 100% weighting as of H1/2018
* As of Jun. 30, 2018
FTE up 45.5 % to 144 (excl. 25 temporary employees)
EBITDA increased 758 % to € 1.7 million
H1 2017 H1 2018
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.
Profitability broadly similar to 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.
Navitas has established a market-leading position in the region with its "Starlifter" batteries.
With the acquisition, Voltabox have come a great deal closer to the goal of becoming the global market leader in the field of battery systems for intralogistics.
Navitas opens up new applications and thus completely new prospects
in the North American market.
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 |
*Property, Plant and Equipment
Group revenue increased 88.2 % to € 27.3 million
Selected parameters from the consolidated income statement of Voltabox AG
Free
Cashflow:
€ -20.9m (2016: € 0.4m)
| € | € | € |
|---|---|---|
| -15.0m | -6.0m | 122.7m |
| (2016: € | (2016: € | (2016: € |
| 6.6m) | -6.2m) | -0.2m) |
| Cash flow | Cash flow | Cash flow |
| from | from | from |
| operating | investment | financing |
| activities* | activities* | activities* |
| | Oddo |
|---|---|
| Jan. 11/12, | Forum, Lyon |
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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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