DBT (ISIN Code: FR0013066750 – Ticker: ALDBT), the European leader in fast-charging stations for electric vehicles, presented its financial and business review for the year at its Annual General Meeting held today.

RENEWED FOCUS ON FAST AND ULTRA-FAST CHARGING STATIONS

As announced on the release of its annual results for financial year 2015-2016, DBT has begun its industrial and commercial transition linked to the increase in electric vehicle battery capacities and the subsequent need for greater charging station capacity.

DBT took advantage of the 2016 Paris Motor Show to unveil the NG150, its latest next-generation 150 kW charger, which can deliver up to three times the output of current fast-charging QC stations.

Given the current sector backdrop, its leading position on the market for fast-charging stations (approximately 55%[1]) and following its strategic review, DBT Group is to focus its resources on fast-charging (50 kW) and ultra-fast charging (150 kW) stations and related services (connectivity and remote management of charging stations) that offer a new source of recurring revenues.

The Group has confirmed that it expects to meet its objective to deliver more than 200 QC fast-charging stations before the end of 2016 (204 as against the 207 originally planned), but has reduced its output for semi-fast stations (VDK) to 180 units as against the 350 originally planned. The Group has also confirmed its goal to launch the commercialization of its new range of charging stations in the first half of 2017.

IMPLEMENTATION OF A COST-SAVINGS PLAN

In order to accompany its new strategic roadmap and give the Group greater financial room for maneuver in the short term, DBT's management has introduced a new cost-savings plan to streamline the company's operations. Different cost reduction levers have been identified and triggered (primarily a reduction in the company's headcount and structural costs) to generate recurrent annual savings of €1 million.

FINANCIAL OVERVIEW

Thanks to the measures already in place, DBT Group now estimates that it will be able to cover its cash requirements in the first quarter of 2017 (rather than in December 2016 as initially thought), as it continues to look to secure additional financing. At the end of December 2016, gross cash assets should stand at €167,000.

SEARCH FOR NEW PARTNERS

DBT currently estimates its additional financial needs at €2 million for financial year 2016-2017 rather than the €3 million initially forecast.

Talks are underway to secure this new financing that will enable the Group to accelerate the development and commercialization of its new charging station, the NG150, with DBT aided by a corporate bank in its search for financial and strategic partners.

The Group will keep the markets informed of all key developments.