Weimar, 21 December 2023 – IBU-tec advanced materials AG (“IBU-tec”, ISIN: DE000A0XYHT5) is reducing its revenue and earnings expectations for 2023. Sales for the current financial year are now expected to be between EUR 48.0-48.5 million, with EBITDA projected to be in the range of EUR 2.0-3.0 million. The company had initially projected sales of EUR 62-64 million and EBITDA of EUR 6.5-6.8 million. IBU-tec remains confident that the sales and earnings targets of the IBU2025 strategy for the year 2025 are attainable. The reason for the forecast adjustment for 2023 is the weak industry environment in the chemical and glass industries, which has significantly impacted the IBU-tec subsidiary BNT. Unfortunately, the planned major order for the IBUvolt 400 product in the battery sector could not be fulfilled. IBU-tec anticipates significant growth in the battery sector in the coming years, thanks to the strategic expansion of its product range. The new battery products from IBU-tec boast superior features and a wider range of applications. They are set to hit the market in Q1 2024. The Board of Directors of IBU-tec will provide more information in January 2024.
Information and Explanation of the Issuer to this News:
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.
Contact
edicto GmbH
Axel Mühlhaus
Eschersheimer Landstraße 42-44
60322 Frankfurt, Germany
t +49 69 905505-52
IBU-tec(at)edicto.de