ADS-TEC Energy — Positive progress in 2024

ADS-TEC reported record revenue, albeit below previous guidance, despite 2024 being a more challenging period for EVs and associated infrastructure-related companies and some revenue deferrals into FY25. Strategic progress has laid the foundation for some potentially significant roll-out programmes. In addition, the company has announced plans to develop longer-term, more stable business revenues through value-added services, aimed at helping customers operate their infrastructure and maximise commercial potential. We will update our forecasts on publication of the detailed FY24 results.