IBU-tec advanced materials AG publishes key financial figures 2023 / 2024 significant growth in sales and EBITDA again expected

Corporate News |

  • Revenue in 2023 at EUR 48.3 million / EBITDA at approx. EUR 3.0 million
  • Important milestones achieved in the battery sector at the beginning of 2024: Cooperation with LANXESS and launch of the new product IBUvolt® LFP 402
  • Forecast for 2024: Significant increase in revenue of around 25% year-on-year/ Above-average growth in EBITDA of 40-45% year-on-year
  • Annual Report 2023 will be published online later today

Weimar, March 21, 2024 – IBU-tec advanced materials AG ("IBU-tec", ISIN: DE000A0XYHT5) publishes its audited key financial figures for the 2023 financial year in accordance with HGB accounting. Accordingly, revenue in the most recently expected range was EUR 48.2 million, compared to EUR 53.9 million in the 2022 financial year (see ad hoc announcement dated December 21, 2023). EBITDA amounted to around EUR 3.0 million, compared to EUR 6.7 million in the same period of the previous year. The EBITDA margin was 6.1%. For IBU-tec, the past financial year was significantly characterized by challenging macroeconomic conditions, such as high inflation and increased raw material and energy prices. On the other hand, IBU-tec's growth area of battery materials continued to develop strongly. In 2023, sales in the battery sector amounted to 10.2 million euros, compared to 4.6 million euros in 2022 and 2.6 million euros in 2021. Correspondingly, the average annual growth rate (CAGR) over the three-year period was 98.1%. The growth rate from 2022 to 2023 was 121 %.

Already in the first months of the 2024 financial year, IBU-tec was able to achieve important milestones. For example, IBU-tec will develop a new iron oxide product for LFP battery materials as part of a cooperation with the global chemical company LANXESS. The aim is to jointly build a European and sustainable value chain in the field of battery materials in order to reduce dependencies from regions such as China. In addition, IBU-tec presented its new, innovative LFP product IBUvolt® LFP 402. The CO2 footprint of the product is around 40% lower than that of Chinese products and thus has clear advantages over conventional products. In addition, IBU-tec is driving further development of battery material and is researching new, innovative materials and possible applications, such as sodium-ion-based batteries.

Due to the growing battery business, IBU-tec expects a significant increase in sales of around 25% compared to 2023 and above-average growth in EBITDA of 40-45% for the current financial year. Accordingly, the EBITDA margin is expected to be around 7% in the 2024 financial year. This already includes one-off expenses of more than EUR 2 million for future investments, such as the expansion of sales, application technology or laboratory analysis in the battery sector. IBU-tec also expects the commissioning of the new MBTC plant to significantly improve the yield of raw materials used in glass coating and thus have a positive effect on the Group's liquidity.

Jörg Leinenbach, CEO of IBU-tec: "After 2023 was not satisfactory, we have made a very good start to 2024. In addition to the cooperation with LANXESS and the product launch of IBUvolt LFP® 402, we expect dynamic growth in the battery sector to continue. We also expect a more positive development in our other markets, such as the glass coating business and the recycling business, in the current financial year. In 2024, we want to leave the dip in growth from 2023 behind us and return to the dynamic expansion path of previous years. We remain firmly focused on the ambitious goals of our IBU2025 strategy."

IBU-tec's Board of Directors will present the figures for 2023 as well as the 2024 guidance in a webcast on Friday, 22 December. March 2024 at 10.30 p.m. Interested investors and members of the press are cordially invited to register at the following link: https://attendee.gotowebinar.com/register/7852505775388439901, Webinar-ID: 586-452-435

In addition, the 2023 Annual Report will be published on the Company's website under the heading "Investor Relations" in the course of today.

About IBU-tec
The IBU-tec Group develops and produces innovative materials of the highest quality for industry. In doing so, it combines unique, partly patent-protected thermal process engineering technology 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 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.

edicto GmbH
Axel Mühlhaus
Eschersheimer Landstraße 42-44
60322 Frankfurt
t +49 69 905505-52