fox e-mobility announces preliminary results for fiscal 2020

DGAP-News: fox e-mobility AG / Keyword (s): Preliminary results
15.06.2021 / 07:30
The issuer is solely responsible for the content of this advertisement.

fox e-mobility announces preliminary results for fiscal 2020

Munich, June 15, 2021. fox e-mobility AG (ISIN: DE000A2NB551), a European electric vehicle company specializing exclusively in the production, marketing and development of compact electric cars in the lower price segment for individual passenger transport and logistics applications, has published today its Key figures 2020 according to HGB.

The financial year covers the period from January 1, 2020 to December 31, 2020 for the two group companies Fox Automotive Switzerland AG and Catinum AG. On December 7, the new fox e-mobility AG group was created thanks to the contribution of Fox Automotive Switzerland AG to Catinum AG. As part of this so-called “reverse merger”, the stock exchange listing of fox e-mobility AG was also implemented on December 22, 2020. The consolidation was carried out for the first time on December 31, 2020, so that no separate income statement has yet been established for the 2020 financial year for the new group.

Fox e-mobility’s equity amounted to 100.4 million euros at the closing date of December 31, 2020. The balance sheet total amounted to 108.6 million euros. There are no short or long term financial liabilities to banks or other lenders. All liabilities amounting to 5.0 million euros are due to shareholders, trade payables and similar. The deferred tax liabilities of € 2.9 million are a consequence of the additions to equity. Provisions amount to € 0.3 million.

The complete annual accounts and the 2020 annual report will be available on the company’s website in the “Investors” section (https://fox-em.com/financial-reports/) from June 30, 2021.

Fox e-mobility AG sees itself well positioned for further positive business development. With its 3-pillar business model, fox e-mobility combines revenues from the sale of vehicles in Europe with license revenues from non-European markets and revenues from the sale of CO2 credits. The first steps to finance the development of MIA 2.0 have already been completed in the current year 2021: the issue of a convertible bond loan in the amount of 25 million euros and a capital increase that has been subscribed. by the amount of 2 million euros. During the year, the focus is on the further development of vehicles and the next stages of financing.

Philippe Perret, CEO of fox e-mobility AG: “We are delighted with the successful start of fox e-mobility AG. The first few months have been very exciting for all of us, and we have made great strides in the development of our electric car, the MIA 2.0. We have made progress in financing our business. We are therefore confident that we will be able to announce new successes on these subjects in the months to come.

About fox e-mobility AG
fox e-mobility AG is a European electric vehicle company specializing in the production, marketing and development of compact electric cars in the lower price segment for individual passenger transport as well as for logistics applications. The new MIA 2.0 model series is to be manufactured in Europe in cooperation with renowned suppliers to the electrical and automotive industry. The management team is made up of seasoned managers and engineers from the world’s largest automotive groups who have in-depth expertise and a comprehensive network for electromobility.
For more information, please visit http://www.fox-em.com.

Press contact
Jan Hutterer
Kirchhoff Consult AG
Phone +49 40 60 91 86 65
E-mail fox@kirchhoff.de

Contact
ir@fox-em.com

06.15.2021 Distribution of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this advertisement.

DGAP’s distribution services include regulatory announcements, financial / corporate news, and press releases.
Archives on www.dgap.de


Source link

About Andrew Estofan

Check Also

Is C. V’s Megacable Holdings SAB (BMV: MEGACPO) a risky investment?

Legendary fund manager Li Lu (whom Charlie Munger supported) once said, “The biggest risk in …