Voltabox AG announced consolidated earnings results for the first half ended June 30, 2018. For the first half, the company reported revenue of EUR 18.1 million against EUR 10.6 million a year ago, up by 71.0%. Profitability increased just as significantly year-on-year. Earnings before interest, taxes, depreciation and amortization (EBITDA) was EUR 1.7 million against EUR 0.2 million a year ago, rose by 758%. After an expected increased depreciation and amortization totaling EUR 1.6 million (prior year: EUR 0.9 million), earnings before interest and taxes (EBIT) improved to EUR 0.1 million from LBIT of EUR 0.7 million a year ago. In spite of a slightly decreased financial result and income tax expenses, the Voltabox Group achieved a slightly improved consolidated net loss of EUR 0.5 million against EUR 0.6 million a year ago. This corresponds to loss per share of EUR 0.03. Cash flow used in operating activities was EUR 24.6 million against cash flow from operating activities of EUR 4.4 million a year ago.

The company revised earnings guidance for the third quarter of 2018. Due to the initial consolidation of Navitas Systems, LLC expected within the third quarter, Voltabox AG has raised its revenue forecast from the original EUR 60 million to EUR 65-70 million. The expected operating profitability remains unchanged. However, the strategically important premature rearrangement of the partner agreement with Triathlon to secure the strategic goal of market leadership is burdening the EBIT in the current fiscal year by about EUR 2 million. Therefore, the EBIT margin for the full year 2018 is now expected to be approximately 7% (instead of previously around 10%).