Aug 26, 2019 - 02:12 pm

Akasol marks minor profits for first half of 2019

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The German battery system supplier Akasol was able to significantly increase its sales in the first half of the year and has already almost reached the total sales for the 2018 financial year. After a loss of millions in 2018, the company is now in the black – albeit only marginally.

The exact figures are as follows: Akasol more than doubled their sales in the first half of 2019 to 19.2 million euros (previous year: 9.3 million euros). EBIT amounted to €0.2 million (previous year: €-1.1 million) and the EBIT margin was 1.0 per cent (previous year: -11.4 per cent).

The positive EBIT was not necessarily to be expected, because Akasol has invested a lot in the past months, among other things at the Langen location from one to two shifts. “All customer requirements for series battery systems could be met as planned,” says CEO Sven Schulz. “In addition, we have significantly expanded our leading market position for commercial vehicle battery systems: At the beginning of the year, we received an order from a Swedish commercial vehicle manufacturer to supply the second generation of battery systems in the mid- to upper three-digit million euro range, and promising series projects are also being initiated for new customers.

For the full fiscal year 2019, Akasol expects sales to rise to at least 60 million euros and an EBIT margin of at least seven per cent. Further investments are also planned for the second half of the year – for example in Langen or in their US location, which will be built in the greater Detroit area. “Series production is scheduled to start there by mid-2020,” says Schulz. “One third, i.e. one shift of the production capacity, has already been reserved for our existing customers.

akasol.com

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Found on electrive.com
https://www.electrive.com/2019/08/26/akasol-marks-minor-profits-for-first-half-of-2019/
26.08.2019 14:30