NÜRTINGEN, Germany - ADS-TEC Energy plc (NASDAQ:ADSE), a company specializing in battery-buffered, ultra-fast charging technology, announced the addition of Alwin Epple to its Board of Directors. Epple, with over 30 years of experience in the automotive industry, has previously held significant roles at Daimler AG and Mercedes Benz (ETR:MBGn) Group, including Chief Audit Executive at Mercedes-Benz (OTC:MBGAF) Group.
Epple's career has been marked by international leadership positions, such as President and CEO of Mercedes-Benz Italia and Executive Board Member of Daimler Financial Services AG. His expertise is expected to support ADS-TEC Energy's strategic growth and innovation in the electric vehicle charging sector.
"Mr. Epple's career trajectory showcases his ability to navigate complex international markets and deliver tangible results across diverse sectors within the automotive industry," stated Prof. Dr. Kurt Lauk, Chairman of ADS-TEC Energy's Board of Directors.
In addition to his automotive roles, Epple has been active in other industries and non-profit organizations. Since 2016, he has served as Chairman of the Advisory Board for AMANN & Söhne GmbH & Co. KG and as a member of the Board of Management of Hanns A. Pielenz-Stiftung.
Epple holds an economics degree from Eberhard-Karls University Tubingen and has completed executive management training at The Wharton School of the University of Pennsylvania and Harvard University.
The appointment comes as ADS-TEC Energy continues to advance its battery storage solutions and fast charging systems for electric vehicles. The company's technology, which allows ultra-fast charging on low powered grids, has been recognized for its innovation, being nominated for the German Future Prize and included in the "Circle of Excellence" in 2022.
This announcement is based on a press release statement from ADS-TEC Energy.
InvestingPro Insights
ADS-TEC Energy plc (NASDAQ:ADSE) has been making significant strides in the ultra-fast electric vehicle charging market, a fact underscored by the strategic addition of Alwin Epple to its Board of Directors. As the company positions itself for strategic growth, the financial metrics and analyst insights from InvestingPro provide a detailed picture of its current market standing and future expectations.
With a substantial year-over-year revenue growth of 156.87% for the last twelve months as of Q2 2023, ADS-TEC Energy is demonstrating a strong capacity for increasing its sales. This is further accentuated by a staggering quarterly revenue growth of 305.85% in Q2 2023, signaling a robust upward trend in the company's financial performance. However, it's important to note that despite this impressive growth, the company's gross profit margin remains negative at -0.33%, which indicates challenges in maintaining profitability on its sales.
The company's market capitalization stands at a solid 550.87 million USD, reflecting investor confidence in its business model and future prospects. Yet, the adjusted price-to-earnings (P/E) ratio of -12.46 suggests that the market expects future earnings to improve from the current loss-making position. This aligns with one of the InvestingPro Tips, which notes that analysts do not anticipate the company will be profitable this year.
Investors looking for long-term growth potential may also be intrigued by the company's significant price appreciation, with a one-year total return of 379.74%, highlighting the strong market enthusiasm for ADS-TEC Energy's shares. This is complemented by an InvestingPro Tip highlighting the company's strong return over the last three months.
For those interested in a deeper dive into ADS-TEC Energy's financial health and future outlook, InvestingPro offers additional insights. There are currently 12 more InvestingPro Tips available for ADS-TEC Energy, which can be accessed at: https://www.investing.com/pro/ADSE. Readers can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, providing a comprehensive toolkit for making informed investment decisions.
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