UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 under the Securities Exchange Act of 1934
For the month of December 2023
Commission File Number 001-41188
ADS-TEC ENERGY PUBLIC LIMITED COMPANY
(Translation of registrant’s name into English)
10 Earlsfort Terrace
Dublin 2, D02 T380, Ireland
Telephone: +353 1 920 1000
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
ADS-TEC ENERGY PLC (the “Company”) is filing this Form 6-K solely to furnish its unaudited consolidated statement of cash flows and unaudited consolidated statement of changes in equity for the six months ended June 30, 2023, attached as Exhibit 99.1 hereto, which supplements the unaudited consolidated financial information for the six months ended June 30, 2023 included in the Company’s Form 6-K filed on October 26, 2023.
The information furnished in this Form 6-K, including the information contained in Exhibit 99.1, shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, and shall not be deemed to be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by a specific reference in such filing.
EXHIBIT INDEX
Exhibit No. | Description | |
99.1 | Interim Consolidated Financial Information | |
101 | The following materials from ADS-TEC ENERGY PLC’s Report on Form 6-K for the six months ended June 30, 2023, formatted in Inline XBRL (eXtensible Business Reporting Language): (i) Consolidated Statement of Cash Flows and (ii) Consolidated Statement of Changes in Equity. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Dated: December 22, 2023 | ads-tec Energy PLC | |
By: | /s/ Wolfgang Breme | |
Name: | Wolfgang Breme | |
Title: | Chief Financial Officer |
2
Exhibit 99.1
Consolidated statement of cash flows
For the six months ended June 30:
kEUR | Jun. 30, 2023 |
Jun. 30, 2022 |
||||||
Result for the period | -28,793 | -7,309 | ||||||
Depreciation and amortization | 2,417 | 2,010 | ||||||
Finance income | -136 | -5,023 | ||||||
Non-cash effective foreign currency gains | 154 | -6,479 | ||||||
Finance expense | 10,936 | 161 | ||||||
Stock compensation | 529 | 1,192 | ||||||
Gain/loss on disposal of property, plant, and equipment | 5 | 39 | ||||||
Change in trade receivables not attributable to investing or financing activities | -8,539 | -5,620 | ||||||
Change in inventories | -8,912 | -15,202 | ||||||
Change in trade payables | 4,468 | 8,880 | ||||||
Change in contract assets | 6 | -222 | ||||||
Change in contract liabilities | -1,092 | -1 | ||||||
Change in other investments and other assets | 2,496 | -1,345 | ||||||
Change in other provisions | 904 | 91 | ||||||
Change in other liabilities | -1,911 | -2,523 | ||||||
Cash flow from operating activities | -27,468 | -31,351 | ||||||
Purchase of property, plant, and equipment | -1,430 | -760 | ||||||
Investments in intangible assets, including internally generated intangible asset | -2,748 | -2,568 | ||||||
Acquisition of investments in non-consolidated entities | -70 | |||||||
Interest received | 136 | 10 | ||||||
Cash flow from investing activities | -4,112 | -3,318 | ||||||
Proceeds from borrowings and shareholder contribution and loans | 11,805 | |||||||
Repayment of loans and borrowings | -7,525 | |||||||
Payment of lease liabilities | -449 | -280 | ||||||
Interest paid | -130 | -161 | ||||||
Cash flow from financing activities | 11,226 | -7,966 | ||||||
Net decrease in cash and cash equivalents | -20,354 | -42,635 | ||||||
Net cash and cash equivalents at the beginning of the period | 34,441 | 101,813 | ||||||
FX effects | -123 | 6,542 | ||||||
Net cash and cash equivalents at the end of the period | 13,964 | 65,720 |
Consolidated statement of changes in equity
For the six months ended June 30, 2023:
Other reserves | ||||||||||||||||||||||||||||
Currency | Total | Equity | ||||||||||||||||||||||||||
Subscribed | Capital | Retained | translation | other | attributable to | Total | ||||||||||||||||||||||
kEUR | capital | reserves | earnings | reserve | reserves | shareholders | equity | |||||||||||||||||||||
Balance as of Jan. 01, 2023 | 4 | 216,815 | -136,117 | 45 | -136,072 | 80,747 | 80,747 | |||||||||||||||||||||
Result for the period | 0 | 0 | -28,793 | 0 | -28,793 | -28,793 | -28,793 | |||||||||||||||||||||
Other comprehensive income (loss) | 0 | 0 | 0 | 51 | 51 | 51 | 51 | |||||||||||||||||||||
Total comprehensive income (loss) | 0 | 0 | -28,793 | 51 | -28,742 | -28,742 | -28,742 | |||||||||||||||||||||
Other changes in equity | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||||||
Stock compensation | 0 | 477 | 0 | 0 | 0 | 477 | 477 | |||||||||||||||||||||
Total contributions and distributions | 0 | 477 | 0 | 0 | 0 | 477 | 477 | |||||||||||||||||||||
Balance as of Jun. 30, 2023 | 4 | 217,292 | -164,910 | 95 | -164,815 | 52,481 | 52,481 |
For the six months ended June 30, 2022:
Other reserves | ||||||||||||||||||||||||||||
Currency | Total | Equity | ||||||||||||||||||||||||||
Subscribed | Capital | Retained | translation | other | attributable to | Total | ||||||||||||||||||||||
kEUR | capital | reserves | earnings | reserve | reserves | shareholders | equity | |||||||||||||||||||||
Balance as of Jan. 01, 2022 | 4 | 214,100 | -117,211 | -2 | -117,213 | 96,891 | 96,891 | |||||||||||||||||||||
Result for the period | 0 | 0 | -7,309 | 0 | -7,309 | -7,309 | -7,309 | |||||||||||||||||||||
Other comprehensive income | 0 | 0 | 0 | 43 | 43 | 43 | 43 | |||||||||||||||||||||
Total comprehensive income | 0 | 0 | -7,309 | 43 | -7,266 | -7,266 | -7,266 | |||||||||||||||||||||
Stock compensation | 0 | 1,192 | 0 | 0 | 0 | 1,192 | 1,192 | |||||||||||||||||||||
Total contributions and distributions | 0 | 1,192 | 0 | 0 | 0 | 1,192 | 1,192 | |||||||||||||||||||||
Balance as of Jun. 30, 2022 | 4 | 215,292 | -124,520 | 41 | -124,479 | 90,817 | 90,817 |