IBU-tec advanced materials AG: Record Sales in 2022 – Significant, Profitable Sales Growth Expected in 2023

- Revenue increase of more than 22 percent to approx. EUR 54 million in 2022

- EBITDA increase of approx. 22 percent to EUR 6.7 million

- Forecast 2023: Revenue growth to EUR 62 to 64 million

- Total output battery materials area to almost double in 2023

Corporate News |

Weimar, 2 March 2023 – IBU-tec advanced materials AG (“IBU-tec”, ISIN: DE000A0XYHT5) achieved the highest sales in the company’s history in the past fiscal year 2022 according to preliminary, unaudited HGB figures. Compared to the previous year, revenues increased by more than 22 percent from EUR 44.1 million to EUR 53.9 million. EBITDA increased by 21.8 percent from EUR 5.5 million in 2021 to EUR 6.7 million in 2022. In terms of adjusted, pure operating EBITDA in 2021, IBU-tec is at the same level as last year, despite much more difficult economic conditions.

IBU-tec succeeded in winning relevant partnerships and customer projects in the growth area of battery materials. For example, in addition to a partnership with the Norwegian battery manufacturer Morrow Batteries, IBU-tec signed a major development contract with an international commercial vehicle manufacturer. In addition, IBU-tec carried out various projects for customers to develop new anode and cathode materials with different materials in 2022. The number of battery material tests and sampling of potential customers has increased strongly overall in the past year. IBU-tec is currently in advanced talks with major global automotive companies about possible development partnerships and production orders. In 2022, decisive decisions for future growth were also made and innovations implemented in the growth area of glass coating.

For 2023, IBU-tec expects a further significant increase in revenues to EUR 62 to 64 million, mainly driven by strong growth in the battery area. Total output in the battery area is expected to almost double to over EUR 14 million in 2023. In this context, IBU-tec is already considering concrete steps to accelerate the planned ramp-up of production capacity for LFP battery material to 25,000 metric tons per year. To further develop the battery material, IBU-tec is also researching new, innovative materials and applications and is expanding its sales activities for this purpose. Taking into account the necessary expenses of approximately EUR 1 million, IBU-tec expects EBITDA of between EUR 6.5 million and EUR 6.8 million in 2023. Accordingly, the EBITDA margin is expected to be between 10.4 and 10.6 percent in 2023. The result will also be affected by general cost increases due to inflation. IBU-tec maintains the medium-term forecast of the IBU2025 strategy and expects revenues of EUR 102 million to more than EUR 130 million in 2025, with an EBITDA margin of more than 20 percent.

Ulrich Weitz, CEO of IBU-tec: “The battery sector is living up to our expectations as one of the key growth drivers. The major car manufacturers are increasingly relying on LFP for e-mobility – we are proud to be an important part of this future market and to be in a leading position to actively drive innovation in battery materials with our comprehensive expertise. This is why we will continue to grow in this area in 2023 and beyond. In addition, glass coating will also grow strongly in the coming years, where we have now expanded our capacities in response to the high demand.”

IBU-tec’s Executive Board will present the preliminary results for 2022 and the guidance for 2023 in a webcast today, 2 March 2023, at 2:00 pm CET. The webcast will be held in German only. Interested investors and members of the press are invited to register using the following link: https://attendee.gotowebinar.com/register/7134998563447111518

About IBU-tec

The IBU-tec Group develops and produces innovative materials of the highest quality for industry. It combines unique thermal process technology, some of which is patented, with the process and material know-how of around 250 highly qualified employees.

The company's own products include LFP battery material, which is an important component of batteries for electromobility and stationary energy storage, as well as solutions for air purification, resource conservation and the reduction of plastic packaging. IBU-tec is thus well positioned for the long term in global megatrends - especially climate and environmental protection - and has an international customer base ranging from innovative medium-sized companies to global corporations.


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