Battery manufacturer Voltabox increases the sales target

Up to now, the company had sales of 60 million euros for 2018 after 27 million euros in the previous year. On the stock market, the new sales forecast for the morning meant that the share price jumped more than 5 percent. Nevertheless, the manufacturer reduced its margin forecast because the redesign of a sales collaboration with its partner Triathlon had a negative effect of around 2 million euros. For example, about 7 percent of sales will now be left as earnings before interest and taxes (EBIT). Earlier, the EBIT margin had risen from a good 2 percent in the previous year to around 10 percent in 2018.

Voltabox, manufacturer of batteries for electric vehicles in the industrial sector, has set itself ambitious goals. The company wants to become world leader in the field of lithium-ion battery systems for internal logistic applications. To this end, Voltabox has caught the American company Navitas Systems, which is number one on the North American market. In April, Voltabox had already acquired the engineering service provider Concurrent Design. In addition, the company has, through closer cooperation with Triathlon, introduced the direct sale of its battery systems.

The intention is that Navitas's contribution will be included in the balance sheet of the company from the third quarter. In the first half of the year, Voltabox AG, which has only been listed on the stock exchange since October, has already accelerated its growth rate. Group sales rose by 71 percent to 18.1 million euros. The company mainly benefited from the good business with battery modules for use in forklift trucks and with battery systems for trolley buses. In terms of operating profit, Voltabox came close to breakeven, while earnings before interest and taxes (EBIT) rose to 0.1 million euros. Last year, the company reported a loss of 0.7 million euros. The EBIT margin improved from minus 7.1 to plus 0.6 per cent.

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