fox e-mobility announces preliminary results for 2020 business year

DGAP-News: fox e-mobility AG / Key word(s): Preliminary Results
15.06.2021 / 07:30
The issuer is solely responsible for the content of this announcement.

fox e-mobility announces preliminary results for 2020 business year

Munich, June 15, 2021. fox e-mobility AG (ISIN: DE000A2NB551), a European electric vehicle company that specializes exclusively in the production, marketing and development of compact electric cars in the lower price segment for individual passenger transport and logistical applications, has published today its preliminary yet unaudited 2020 key figures 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 7th last year, the new group, fox e-mobility AG, was created through the contribution of Fox Automotive Switzerland AG to Catinum AG. In the course 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 as per December 31, 2020, so that no separate income statement has been set up yet for the 2020 financial year of the new group.

The equity of fox e-mobility amounted to € 100.4 million as of balance sheet date December 31, 2020. Total assets were at € 108.6 million. There are no short-term or long-term financial liabilities to banks or other lenders. All liabilities amounting to € 5.0 million are due to shareholders, trade payables and similar. Deferred tax liabilities of € 2.9 million are a consequence of the additions to equity. Provisions amounted to € 0.3 million.

The full annual financial statements and the annual report for 2020 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 vehicle sales in Europe with license income from non-European markets and revenues from the sale of CO2 credits. The first steps to finance the development of the MIA 2.0 have already been realized in the current year 2021: the issue of a mandatory convertible bond in the amount of € 25 million and a capital increase that was subscribed by the management and secured liquid funds in the amount of € 2 million. The focus for the course of the year is on further vehicle development and the next financing steps.

Philippe Perret, CEO of fox e-mobility AG: "We are pleased with the successful start of fox e-mobility AG. The first few months were very exciting for all of us, and we have been making great progress in the development of our electric car, the MIA 2.0. We have advanced in financing our company. We are therefore confident that we will be able to report further successes on these topics in the coming months."


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


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

Contact
ir@fox-em.com



15.06.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de



show this

Privacy Preference Center