ADS-TEC Energy (ADSE) investor relations material

Executive summary

• H1 revenue fell 50% YoY to €7.4m, led by a 76% decline in Charging; Service remained the largest stream at 61.8% of revenue.

• Net loss widened to €42.0m from €14.8m, while operating cash outflow improved to €18.7m from €30.2m.

• Financing transactions reduced warrant liabilities and added equity, but recurring losses, negative operating cash flow and uncertain financing availability leave substantial doubt over going concern.

Financial highlights

• Revenue was €7.352m versus €14.614m YoY; cost of sales declined 33% to €14.198m.

• Gross loss widened to €6.846m from €6.663m; gross margin fell to -93.1% from -45.6%, as revenue declined faster than costs.

• R&D expense decreased 5% to €4.2m; SG&A decreased 18% to €15.2m, primarily on lower legal and consulting fees.

• Operating loss improved 13% to €26.3m; net loss was €42.0m versus €14.8m, reflecting a swing from €15.1m net finance income to €16.0m net finance expense.

• Cash and cash equivalents were €4.6m at June 30, 2026, versus €7.0m at Dec. 31, 2025; total assets were €81.6m versus €90.2m.

Outlook and guidance

• Charging revenue is expected to increase in H2 2026; BESS orders secured in 2025 are expected to contribute mainly in H2, with order intake improving in Q3 and expected to gain momentum through year-end.

• The large-scale battery project is expected to reach ready-to-build in Q4 2026; an equity investor is being sought for up to 51% of the project.

• The business plan assumes €30.0m of additional shareholder-facility drawings and forecasts positive cash availability for the 12 months following issuance of the interim statements.

• Plans include intensifying sales in Europe and the US, reducing working capital, optimizing costs and products, and expanding the full-service model.

• Six-month results may not indicate full-year performance; management cited no regular seasonal or cyclical pattern.