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AKASOL AG, DE000A2JNWZ9

AKASOL AG, DE000A2JNWZ9

30.04.2021 - 07:33:13

AKASOL AG: Still on course for dynamic growth - despite the coronavirus crisis: AKASOL boosts revenue by more than 40% to EUR 68.3 million in 2020

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CONSOLIDATED INCOME STATEMENTfor the period from Jan. 1 to Dec. 31 2020KEUR 2019KEUR ? unaudited ? Revenue 68,332 47,648 Increase or decrease in unfinished and finished goods and work in progress 310 2,616 Own work capitalized 5,323 3,475 Other operating income 571 280 Cost of materials -53,731 -36,871 Personnel expenses -19,069 -13,544 Other operating expenses -10,044 -6,756 Earnings before interest, taxes, depreciation and amortization (EBITDA) -8,307 -3,152 Adjusted EBITDA1) -1,456 -291 Depreciation and amortization -3,811 -2,137 Operating result (EBIT) -12,119 -5,289 Adjusted EBIT 1) -5,268 -2,428 Financial income 180 253 Financial expenses -549 -266 Financial result -369 -13 Earnings before taxes (EBT) -12,488 -5,302 Taxes on income 0 -1,131 Result for the period -12,488 -6,433 Other comprehensive income 221 -1 Net result for the period -12,267 -6,434 Earnings per share (diluted / undiluted) -2.02 -1.06 Average number of shares outstanding 6,061,856 6,061,856 ?

(1) The consolidated financial statements of the AKASOL Group are prepared in accordance with the applicable accounting standards and audited by independent audit firms. The audit for the 2020 financial statements has not yet been completed. In addition to the mandatory disclosures, AKASOL identifies and publishes further key figures that are not subject to these regulations. This allows for comparisons of performance or operating profitability over time and facilitates management of the Company. For purposes of internal management, and to provide an important indicator of the operating profitability of its business activities, AKASOL uses earnings before interest, taxes, depreciation and amortization (adjusted EBITDA) adjusted for non-operating influences, together with earnings before interest and taxes (adjusted EBIT) adjusted for non-operating influences.

Non-operating effects on earnings comprise individual circumstances that lead to material effects. In terms of the financial year completed, these are particularly, first of all, steps taken in support of growth relative to the establishment of structures in the short term and improvement of processes within the Group. This item also considers special charges in connection with adjustments in stock and material masters processed in connection with the relocation to the new headquarters and the SAP system conversion. ?

CONSOLIDATED CASH FLOW STATEMENTfor the period from Jan. 1 to Dec. 31 2020KEUR 2019KEUR ? unaudited ? Operating result (EBIT) -12,119 -5,289 Cash flow from operating activities 9,584 -25,599 Cash flow from investment activities -29,218 -812 Cash flow from financing activities 7,940 29,336 Changes in financial resources affecting payments -11,684 2,925 Cash at end of period 13,177 24,861 ?

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Contact: cometis AG Georg Grie?mann T.: +49 (0) 611 20 58 55 61 Email: griessmann@cometis.de

About AKASOL

AKASOL is a leading German developer and manufacturer of high-energy and high-performance lithium-ion battery systems for use in buses, commercial vehicles, rail vehicles and industrial vehicles, as well as in ships and boats. With 30 years of experience, AKASOL is a pioneer in the development and manufacture of lithium-ion battery systems for commercial applications. Shares of AKASOL AG stock have been traded on the Prime Standard segment of the Frankfurt Stock Exchange since June 29, 2018.

DISCLAIMER

Statements contained herein could be deemed to constitute what are referred to as "forward-looking statements." Forward-looking statements are identifiable by the use of words such as "could," "will," "should," "plans," "expects," "anticipates," "estimates," "believes," "intends," "envisages," "aims" or the negative form of these terms, or corresponding modifications and comparable terms. Based on current expectations, forward-looking statements involve a number of known and unknown risks, uncertainties and other factors as a consequence of which actual results, degrees of capacity utilization, developments and successes achieved by the Group, or on the part of the branch of industry in which it operates, might turn out to be materially different from the results contained or implied herein. The faith placed in forward-looking statements should not be unreasonably high. The Group will not update or review any forward-looking statements published herein in light of new information, future events or for any other reason.

The consolidated financial statements of the AKASOL Group are prepared in accordance with the applicable accounting standards and audited by independent audit firms. The audit for the 2020 financial statements has not yet been completed. In addition to the mandatory disclosures, AKASOL identifies and publishes further key figures that are not subject to these regulations. This allows for comparisons of performance or operating profitability over time and facilitates management of the Company.

30.04.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de

Language: English Company: AKASOL AG Kleyerstra?e 20 64295 Darmstadt

Germany Phone: +49 6151/800 500 E-mail: info@akasol.com Internet: www.akasol.com ISIN: DE000A2JNWZ9 WKN: A2JNWZ Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange EQS News ID: 1190911 ? End of News DGAP News Service

1190911??30.04.2021?

@ dgap.de