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Voltabox: Very tense situation – rating is suspended

The annual report 2019 published yesterday by Voltabox received an unqualified confirmation from the auditor. At the same time, the auditor emphasizes the strained liquidity situation. There are therefore considerable doubts about the group’s ability to continue as a going concern, as there are also high levels of uncertainty regarding the market environment.

In the first quarter of 2020, Voltabox sales will decrease from 12.6 million euros to 2.8 million euros. The EBITDA deteriorates from 2.5 million euros to -6.2 million euros. For the year as a whole, Voltabox is forecasting sales between 25 million euros and 45 million euros. The consensus so far was 59 million euros. According to Voltabox, the EBITDA margin will be below -6 percent. The FMR experts describe this as very optimistic.

You put your valuation on the share â € œunder reviewâ €. So far they have made a recommendation to hold the title. They also no longer have any target price for the value.

Voltabox must reduce operating costs and increase efficiency. You have to grow again. It is currently unclear whether all of this is feasible.

Voltabox’s shares gain 0.6 percent today to 3.575 euros.

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