$adse 2022 Q4 20-F

Concept	2022 Q4	2022
Revenue	$17.00K	$26.43K
YoY Change	40.61%	-20.01%
Cost Of Revenue	$16.65K	$30.90K
YoY Change	4.85%	-12.49%
Gross Profit	$350.00	-€4.474M
YoY Change	-109.23%	196992.51%
Gross Profit Margin	2.06%	-16927.73%
Selling, General & Admin	$18.12K	$30.69K
YoY Change	96.1%	134.45%
% of Gross Profit	5177.14%
Research & Development	$670.00	€1.701M
YoY Change	55.81%	84526.87%
% of Gross Profit	191.43%
Depreciation & Amortization	$2.330K	$4.340K
YoY Change	28.73%	24.36%
% of Gross Profit	665.71%
Operating Expenses	$18.29K	€1.701M
YoY Change	69.67%	10316.41%
Operating Profit	-$17.94K	-€6.175M
YoY Change	23.13%	33098.92%
Interest Expense	$8.750K	€0.00
YoY Change	-620.83%	-100.0%
% of Operating Profit
Other Income/Expense, Net	$0.00	$0.00
YoY Change	-100.0%	-100.0%
Pretax Income	-$9.190K	-$16.34K
YoY Change	-88.8%	-81.27%
Income Tax	$2.410K	$2.570K
% Of Pretax Income
Net Earnings	-$11.60K	-€18.91M
YoY Change	-85.93%	21472.34%
Net Earnings / Revenue	-68.24%	-71532.35%
Basic Earnings Per Share
Diluted Earnings Per Share	$0.00	$0.00
COMMON SHARES
Basic Shares Outstanding	48.88M shares
Diluted Shares Outstanding

Concept	2022 Q4	2022
SHORT-TERM ASSETS
Cash & Short-Term Investments	$34.44K	$34.44K
YoY Change	-66.17%	-66.17%
Cash & Equivalents	$34.44K
Short-Term Investments
Other Short-Term Assets		$680.00
YoY Change		-26.09%
Inventory	$53.14K	$53.14K
Prepaid Expenses
Receivables	$17.67K	$13.90K
Other Receivables	$0.00	$3.090K
Total Short-Term Assets	$105.3K	$105.3K
YoY Change	-17.22%	-17.22%
LONG-TERM ASSETS
Property, Plant & Equipment	$8.760K	$8.760K
YoY Change	76.97%	76.97%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments	$3.370K	$3.370K
YoY Change	62.02%	62.02%
Other Assets	$0.00	$0.00
YoY Change
Total Long-Term Assets	€139.3M	$34.19K
YoY Change	578781.39%	42.04%
TOTAL ASSETS
Total Short-Term Assets	$105.3K	$105.3K
Total Long-Term Assets	€139.3M	$34.19K
Total Assets	€139.4M	$139.4K
YoY Change	92111.35%	-7.79%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$15.70K	$15.70K
YoY Change	12.14%	12.14%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00
YoY Change	-100.0%	-100.0%
Long-Term Debt Due	$840.00	$840.00
YoY Change	58.49%	58.49%
Total Short-Term Liabilities	$42.37K	$42.37K
YoY Change	39.19%	39.19%
LONG-TERM LIABILITIES
Long-Term Debt	$2.640K	$2.640K
YoY Change	71.43%	71.43%
Other Long-Term Liabilities	$9.450K	$9.450K
YoY Change	-53.9%	-53.9%
Total Long-Term Liabilities	$12.09K	$12.09K
YoY Change	-45.15%	-45.15%
TOTAL LIABILITIES
Total Short-Term Liabilities	$42.37K	$42.37K
Total Long-Term Liabilities	$12.09K	$12.09K
Total Liabilities	€58.70M	$58.70K
YoY Change	107934.24%	8.04%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$80.75K	$80.75K
YoY Change
Total Liabilities & Shareholders Equity	$139.4K	$139.4K
YoY Change	-7.79%	-7.79%

Concept	2022 Q4	2022
OPERATING ACTIVITIES
Net Income	-$11.60K	-€18.91M
YoY Change	-85.93%	21472.34%
Depreciation, Depletion And Amortization	$2.330K	$4.340K
YoY Change	28.73%	24.36%
Cash From Operating Activities	-$26.46K	-$57.81K
YoY Change	79.51%	215.9%
INVESTING ACTIVITIES
Capital Expenditures	$7.740K	$11.07K
YoY Change	-309.76%	-298.03%
Acquisitions
YoY Change
Other Investing Activities	$190.00	$200.00
YoY Change
Cash From Investing Activities	-$7.550K	-$10.87K
YoY Change	104.61%	94.45%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	-690.0	-8.660K
YoY Change	-100.57%	-106.88%
NET CHANGE
Cash From Operating Activities	-26.46K	-57.81K
Cash From Investing Activities	-7.550K	-10.87K
Cash From Financing Activities	-690.0	-8.660K
Net Change In Cash	-34.70K	-77.34K
YoY Change	-133.99%	-175.78%
FREE CASH FLOW
Cash From Operating Activities	-$26.46K	-$57.81K
Capital Expenditures	$7.740K	$11.07K
Free Cash Flow	-$34.20K	-$68.88K
YoY Change	209.5%	441.94%

Frame	Concept Type	Concept / XBRL Key	Value	Unit
CY2022	dei	Document Type DocumentType	20-F
CY2022	dei	Document Registration Statement DocumentRegistrationStatement	false
CY2022	dei	Document Annual Report DocumentAnnualReport	true
CY2022	dei	Document Period End Date DocumentPeriodEndDate	2022-12-31
CY2022	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--12-31
CY2022	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2022
CY2022	dei	Document Transition Report DocumentTransitionReport	false
CY2022	dei	Document Shell Company Report DocumentShellCompanyReport	false
CY2022	dei	Entity File Number EntityFileNumber	001-41188
CY2022	dei	Contact Personnel Name ContactPersonnelName	Not applicable
CY2022	dei	Entity Incorporation State Country Code EntityIncorporationStateCountryCode	L2
CY2022	dei	Entity Address Address Line1 EntityAddressAddressLine1	10 Earlsfort TerraceDublin 2
CY2022	dei	Entity Address Postal Zip Code EntityAddressPostalZipCode	D02 T380
CY2022	dei	Entity Address Country EntityAddressCountry	IE
CY2022	dei	Entity Address City Or Town EntityAddressCityOrTown	Ireland
CY2022Q4	dei	Entity Common Stock Shares Outstanding EntityCommonStockSharesOutstanding	48877162	shares
CY2022	dei	Entity Well Known Seasoned Issuer EntityWellKnownSeasonedIssuer	No
CY2022	dei	Entity Voluntary Filers EntityVoluntaryFilers	No
CY2022	dei	Entity Current Reporting Status EntityCurrentReportingStatus	Yes
CY2022	dei	Entity Interactive Data Current EntityInteractiveDataCurrent	Yes
CY2022	dei	Entity Filer Category EntityFilerCategory	Non-accelerated Filer
CY2022	dei	Entity Emerging Growth Company EntityEmergingGrowthCompany	true
CY2022	dei	Entity Ex Transition Period EntityExTransitionPeriod	false
CY2022	dei	Icfr Auditor Attestation Flag IcfrAuditorAttestationFlag	false
CY2022	dei	Entity Shell Company EntityShellCompany	false
CY2022	dei	Auditor Firm AuditorFirmId	1010
CY2022	dei	Auditor Name AuditorName	BDO AG Wirtschaftsprüfungsgesellschaft
CY2022	dei	Auditor Location AuditorLocation	Frankfurt am Main, Germany
CY2022	ifrs-full	Revenue Revenue	26430000	eur
CY2021	ifrs-full	Revenue Revenue	33035000	eur
CY2020	ifrs-full	Revenue Revenue	47370000	eur
CY2022	ifrs-full	Cost Of Sales CostOfSales	30904000	eur
CY2021	ifrs-full	Cost Of Sales CostOfSales	35310000	eur
CY2020	ifrs-full	Cost Of Sales CostOfSales	45548000	eur
CY2022	ifrs-full	Gross Profit GrossProfit	-4474000	eur
CY2021	ifrs-full	Gross Profit GrossProfit	-2275000	eur
CY2020	ifrs-full	Gross Profit GrossProfit	1822000	eur
CY2022	ifrs-full	Research And Development Expense ResearchAndDevelopmentExpense	1701000	eur
CY2021	ifrs-full	Research And Development Expense ResearchAndDevelopmentExpense	2012000	eur
CY2020	ifrs-full	Research And Development Expense ResearchAndDevelopmentExpense	749000	eur
CY2022	ifrs-full	Administrative Expense AdministrativeExpense	31319000	eur
CY2021	ifrs-full	Administrative Expense AdministrativeExpense	13321000	eur
CY2020	ifrs-full	Administrative Expense AdministrativeExpense	7570000	eur
CY2022	ifrs-full	Impairment Loss Impairment Gain And Reversal Of Impairment Loss Determined In Accordance With Ifrs9 ImpairmentLossImpairmentGainAndReversalOfImpairmentLossDeterminedInAccordanceWithIFRS9	228000	eur
CY2021	ifrs-full	Impairment Loss Impairment Gain And Reversal Of Impairment Loss Determined In Accordance With Ifrs9 ImpairmentLossImpairmentGainAndReversalOfImpairmentLossDeterminedInAccordanceWithIFRS9	171000	eur
CY2020	ifrs-full	Impairment Loss Impairment Gain And Reversal Of Impairment Loss Determined In Accordance With Ifrs9 ImpairmentLossImpairmentGainAndReversalOfImpairmentLossDeterminedInAccordanceWithIFRS9	9000	eur
CY2022	ifrs-full	Other Income OtherIncome	2383000	eur
CY2021	ifrs-full	Other Income OtherIncome	4538000	eur
CY2020	ifrs-full	Other Income OtherIncome	541000	eur
CY2022	ifrs-full	Other Operating Income Expense OtherOperatingIncomeExpense	-1084000	eur
CY2021	ifrs-full	Other Operating Income Expense OtherOperatingIncomeExpense	-5402000	eur
CY2020	ifrs-full	Other Operating Income Expense OtherOperatingIncomeExpense	-2224000	eur
CY2022	ifrs-full	Profit Loss From Operating Activities ProfitLossFromOperatingActivities	-36423000	eur
CY2021	ifrs-full	Profit Loss From Operating Activities ProfitLossFromOperatingActivities	-18643000	eur
CY2020	ifrs-full	Profit Loss From Operating Activities ProfitLossFromOperatingActivities	-8190000	eur
CY2022	adse	Finance Incomes FinanceIncomes	20515000	eur
CY2021	adse	Finance Incomes FinanceIncomes	47000	eur
CY2022	ifrs-full	Finance Income Cost FinanceIncomeCost	-427000	eur
CY2021	ifrs-full	Finance Income Cost FinanceIncomeCost	-2835000	eur
CY2020	ifrs-full	Finance Income Cost FinanceIncomeCost	-2135000	eur
CY2021	adse	Share Listing Expenses ShareListingExpenses	-65796000	eur
CY2022	adse	Net Finance Costs Amount NetFinanceCostsAmount	-20089000	eur
CY2021	adse	Net Finance Costs Amount NetFinanceCostsAmount	68583000	eur
CY2020	adse	Net Finance Costs Amount NetFinanceCostsAmount	2135000	eur
CY2022	ifrs-full	Profit Loss Before Tax ProfitLossBeforeTax	-16335000	eur
CY2021	ifrs-full	Profit Loss Before Tax ProfitLossBeforeTax	-87227000	eur
CY2020	ifrs-full	Profit Loss Before Tax ProfitLossBeforeTax	-10325000	eur
CY2022	ifrs-full	Income Tax Expense Continuing Operations IncomeTaxExpenseContinuingOperations	2572000	eur
CY2021	ifrs-full	Income Tax Expense Continuing Operations IncomeTaxExpenseContinuingOperations	413000	eur
CY2020	ifrs-full	Income Tax Expense Continuing Operations IncomeTaxExpenseContinuingOperations	-45000	eur
CY2022	ifrs-full	Profit Loss ProfitLoss	-18906000	eur
CY2021	ifrs-full	Profit Loss ProfitLoss	-87640000	eur
CY2020	ifrs-full	Profit Loss ProfitLoss	-10280000	eur
CY2022	ifrs-full	Income Tax Relating To Components Of Other Comprehensive Income That Will Be Reclassified To Profit Or Loss IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLoss	-46000	eur
CY2021	ifrs-full	Income Tax Relating To Components Of Other Comprehensive Income That Will Be Reclassified To Profit Or Loss IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLoss	2000	eur
CY2022	ifrs-full	Other Comprehensive Income OtherComprehensiveIncome	46000	eur
CY2021	ifrs-full	Other Comprehensive Income OtherComprehensiveIncome	-2000	eur
CY2022	ifrs-full	Comprehensive Income ComprehensiveIncome	-18860000	eur
CY2021	ifrs-full	Comprehensive Income ComprehensiveIncome	-87642000	eur
CY2020	ifrs-full	Comprehensive Income ComprehensiveIncome	-10280000	eur
CY2022	adse	Comprehensive Income Attributables To Owners Of Parent ComprehensiveIncomeAttributablesToOwnersOfParent	-18906000	eur
CY2021	adse	Comprehensive Income Attributables To Owners Of Parent ComprehensiveIncomeAttributablesToOwnersOfParent	-87640000	eur
CY2020	adse	Comprehensive Income Attributables To Owners Of Parent ComprehensiveIncomeAttributablesToOwnersOfParent	-10280000	eur
CY2022	ifrs-full	Comprehensive Income Attributable To Owners Of Parent ComprehensiveIncomeAttributableToOwnersOfParent	-18860000	eur
CY2021	ifrs-full	Comprehensive Income Attributable To Owners Of Parent ComprehensiveIncomeAttributableToOwnersOfParent	-87642000	eur
CY2020	ifrs-full	Comprehensive Income Attributable To Owners Of Parent ComprehensiveIncomeAttributableToOwnersOfParent	-10280000	eur
CY2022	ifrs-full	Diluted Earnings Loss Per Share DilutedEarningsLossPerShare	-0.39
CY2021	ifrs-full	Diluted Earnings Loss Per Share DilutedEarningsLossPerShare	-3.46
CY2020	ifrs-full	Diluted Earnings Loss Per Share DilutedEarningsLossPerShare	-320.86
CY2022	ifrs-full	Basic Earnings Loss Per Share BasicEarningsLossPerShare	-0.39
CY2021	ifrs-full	Basic Earnings Loss Per Share BasicEarningsLossPerShare	-3.46
CY2020	ifrs-full	Basic Earnings Loss Per Share BasicEarningsLossPerShare	-320.86
CY2022Q4	ifrs-full	Intangible Assets Other Than Goodwill IntangibleAssetsOtherThanGoodwill	22059000	eur
CY2021Q4	ifrs-full	Intangible Assets Other Than Goodwill IntangibleAssetsOtherThanGoodwill	17038000	eur
CY2022Q4	ifrs-full	Rightofuse Assets RightofuseAssets	3366000	eur
CY2021Q4	ifrs-full	Rightofuse Assets RightofuseAssets	1988000	eur
CY2022Q4	ifrs-full	Property Plant And Equipment PropertyPlantAndEquipment	5389000	eur
CY2021Q4	ifrs-full	Property Plant And Equipment PropertyPlantAndEquipment	2958000	eur
CY2022Q4	ifrs-full	Investments In Subsidiaries Joint Ventures And Associates InvestmentsInSubsidiariesJointVenturesAndAssociates	3373000	eur
CY2021Q4	ifrs-full	Investments In Subsidiaries Joint Ventures And Associates InvestmentsInSubsidiariesJointVenturesAndAssociates	2084000	eur
CY2022Q4	ifrs-full	Noncurrent Receivables NoncurrentReceivables	4000	eur
CY2021Q4	ifrs-full	Noncurrent Receivables NoncurrentReceivables	4000	eur
CY2022Q4	ifrs-full	Noncurrent Assets NoncurrentAssets	34192000	eur
CY2021Q4	ifrs-full	Noncurrent Assets NoncurrentAssets	24072000	eur
CY2022Q4	ifrs-full	Inventories Total InventoriesTotal	53137000	eur
CY2021Q4	ifrs-full	Inventories Total InventoriesTotal	13063000	eur
CY2022Q4	ifrs-full	Noncurrent Noncash Assets Pledged As Collateral For Which Transferee Has Right By Contract Or Custom To Sell Or Repledge Collateral NoncurrentNoncashAssetsPledgedAsCollateralForWhichTransfereeHasRightByContractOrCustomToSellOrRepledgeCollateral	6000	eur
CY2021Q4	ifrs-full	Noncurrent Noncash Assets Pledged As Collateral For Which Transferee Has Right By Contract Or Custom To Sell Or Repledge Collateral NoncurrentNoncashAssetsPledgedAsCollateralForWhichTransfereeHasRightByContractOrCustomToSellOrRepledgeCollateral	973000	eur
CY2022Q4	ifrs-full	Trade And Other Current Receivables TradeAndOtherCurrentReceivables	17666000	eur
CY2021Q4	ifrs-full	Trade And Other Current Receivables TradeAndOtherCurrentReceivables	11304000	eur
CY2022Q4	ifrs-full	Other Cash And Cash Equivalents OtherCashAndCashEquivalents	34441000	eur
CY2021Q4	ifrs-full	Other Cash And Cash Equivalents OtherCashAndCashEquivalents	101813000	eur
CY2022Q4	ifrs-full	Current Assets CurrentAssets	105250000	eur
CY2021Q4	ifrs-full	Current Assets CurrentAssets	127152000	eur
CY2022Q4	ifrs-full	Assets Assets	139442000	eur
CY2021Q4	ifrs-full	Assets Assets	151224000	eur
CY2022	ifrs-full	Profit Loss ProfitLoss	-18906000	eur
CY2021	ifrs-full	Profit Loss ProfitLoss	-87640000	eur
CY2020	ifrs-full	Profit Loss ProfitLoss	-10280000	eur
CY2022	ifrs-full	Adjustments For Depreciation And Amortisation Expense AdjustmentsForDepreciationAndAmortisationExpense	4336000	eur
CY2022Q4	ifrs-full	Issued Capital IssuedCapital	4000	eur
CY2021Q4	ifrs-full	Issued Capital IssuedCapital	4000	eur
CY2022Q4	ifrs-full	Reserve Of Sharebased Payments ReserveOfSharebasedPayments	216815000	eur
CY2021Q4	ifrs-full	Reserve Of Sharebased Payments ReserveOfSharebasedPayments	214100000	eur
CY2022Q4	ifrs-full	Other Equity Interest OtherEquityInterest	45000	eur
CY2021Q4	ifrs-full	Other Equity Interest OtherEquityInterest	-2000	eur
CY2022Q4	adse	Retained Earnings Amount RetainedEarningsAmount	-117211000	eur
CY2021Q4	adse	Retained Earnings Amount RetainedEarningsAmount	-29570000	eur
CY2022Q4	adse	Profit Loss1 ProfitLoss1	-18906000	eur
CY2021Q4	adse	Profit Loss1 ProfitLoss1	-87640000	eur
CY2022Q4	ifrs-full	Equity Attributable To Owners Of Parent EquityAttributableToOwnersOfParent	80747000	eur
CY2021Q4	ifrs-full	Equity Attributable To Owners Of Parent EquityAttributableToOwnersOfParent	96892000	eur
CY2022Q4	ifrs-full	Equity Equity	80747000	eur
CY2021Q4	ifrs-full	Equity Equity	96892000	eur
CY2022Q4	ifrs-full	Noncurrent Lease Liabilities NoncurrentLeaseLiabilities	2635000	eur
CY2021Q4	ifrs-full	Noncurrent Lease Liabilities NoncurrentLeaseLiabilities	1537000	eur
CY2022Q4	ifrs-full	Noncurrent Warrant Liability NoncurrentWarrantLiability	2439000	eur
CY2021Q4	ifrs-full	Noncurrent Warrant Liability NoncurrentWarrantLiability	12767000	eur
CY2022Q4	ifrs-full	Noncurrent Payables NoncurrentPayables	150000	eur
CY2021Q4	ifrs-full	Noncurrent Payables NoncurrentPayables	158000	eur
CY2022Q4	ifrs-full	Noncurrent Contract Liabilities NoncurrentContractLiabilities	138000	eur
CY2021Q4	ifrs-full	Noncurrent Contract Liabilities NoncurrentContractLiabilities	132000	eur
CY2022Q4	ifrs-full	Other Longterm Provisions OtherLongtermProvisions	6719000	eur
CY2021Q4	ifrs-full	Other Longterm Provisions OtherLongtermProvisions	7438000	eur
CY2022Q4	ifrs-full	Deferred Tax Liabilities DeferredTaxLiabilities	4241000	eur
CY2021Q4	ifrs-full	Deferred Tax Liabilities DeferredTaxLiabilities	1859000	eur
CY2022Q4	ifrs-full	Noncurrent Liabilities NoncurrentLiabilities	16322000	eur
CY2021Q4	ifrs-full	Noncurrent Liabilities NoncurrentLiabilities	23892000	eur
CY2022Q4	ifrs-full	Current Lease Liabilities CurrentLeaseLiabilities	842000	eur
CY2021Q4	ifrs-full	Current Lease Liabilities CurrentLeaseLiabilities	528000	eur
CY2021Q4	ifrs-full	Current Portion Of Longterm Borrowings CurrentPortionOfLongtermBorrowings	7522000	eur
CY2022Q4	ifrs-full	Trade And Other Current Payables TradeAndOtherCurrentPayables	15702000	eur
CY2021Q4	ifrs-full	Trade And Other Current Payables TradeAndOtherCurrentPayables	14000000	eur
CY2022Q4	ifrs-full	Current Contract Liabilities CurrentContractLiabilities	23583000	eur
CY2021Q4	ifrs-full	Current Contract Liabilities CurrentContractLiabilities	6208000	eur
CY2022Q4	ifrs-full	Current Tax Liabilities CurrentTaxLiabilities	189000	eur
CY2022Q4	ifrs-full	Other Shortterm Provisions OtherShorttermProvisions	2056000	eur
CY2021Q4	ifrs-full	Other Shortterm Provisions OtherShorttermProvisions	2182000	eur
CY2022Q4	ifrs-full	Current Liabilities CurrentLiabilities	42373000	eur
CY2021Q4	ifrs-full	Current Liabilities CurrentLiabilities	30440000	eur
CY2022Q4	ifrs-full	Liabilities Liabilities	58695000	eur
CY2021Q4	ifrs-full	Liabilities Liabilities	54332000	eur
CY2022Q4	ifrs-full	Equity And Liabilities EquityAndLiabilities	139442000	eur
CY2021Q4	ifrs-full	Equity And Liabilities EquityAndLiabilities	151224000	eur
CY2021	ifrs-full	Adjustments For Depreciation And Amortisation Expense AdjustmentsForDepreciationAndAmortisationExpense	3485000	eur
CY2020	ifrs-full	Adjustments For Depreciation And Amortisation Expense AdjustmentsForDepreciationAndAmortisationExpense	1641000	eur
CY2022	ifrs-full	Adjustments For Finance Income Cost AdjustmentsForFinanceIncomeCost	-10587000	eur
CY2021	ifrs-full	Adjustments For Finance Income Cost AdjustmentsForFinanceIncomeCost	-47000	eur
CY2022	ifrs-full	Adjustments For Finance Costs AdjustmentsForFinanceCosts	427000	eur
CY2021	ifrs-full	Adjustments For Finance Costs AdjustmentsForFinanceCosts	2835000	eur
CY2020	ifrs-full	Adjustments For Finance Costs AdjustmentsForFinanceCosts	2135000	eur
CY2021	adse	Other Adjustments Forsharelistingexpense OtherAdjustmentsForsharelistingexpense	58523000	eur
CY2022	ifrs-full	Other Adjustments For Noncash Items OtherAdjustmentsForNoncashItems	-9928000	eur
CY2022	ifrs-full	Adjustments For Sharebased Payments AdjustmentsForSharebasedPayments	2767000	eur
CY2022	ifrs-full	Adjustments For Gain Loss On Disposals Property Plant And Equipment AdjustmentsForGainLossOnDisposalsPropertyPlantAndEquipment	21000	eur
CY2021	ifrs-full	Adjustments For Gain Loss On Disposals Property Plant And Equipment AdjustmentsForGainLossOnDisposalsPropertyPlantAndEquipment	55000	eur
CY2020	ifrs-full	Adjustments For Gain Loss On Disposals Property Plant And Equipment AdjustmentsForGainLossOnDisposalsPropertyPlantAndEquipment	70000	eur
CY2022	ifrs-full	Adjustments For Decrease Increase In Trade And Other Receivables AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables	-6716000	eur
CY2021	ifrs-full	Adjustments For Decrease Increase In Trade And Other Receivables AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables	-10540000	eur
CY2020	ifrs-full	Adjustments For Decrease Increase In Trade And Other Receivables AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables	1380000	eur
CY2022	ifrs-full	Adjustments For Decrease Increase In Inventories AdjustmentsForDecreaseIncreaseInInventories	-40195000	eur
CY2021	ifrs-full	Adjustments For Decrease Increase In Inventories AdjustmentsForDecreaseIncreaseInInventories	8572000	eur
CY2020	ifrs-full	Adjustments For Decrease Increase In Inventories AdjustmentsForDecreaseIncreaseInInventories	13887000	eur
CY2022	ifrs-full	Adjustments For Increase Decrease In Trade Account Payable AdjustmentsForIncreaseDecreaseInTradeAccountPayable	3689000	eur
CY2021	ifrs-full	Adjustments For Increase Decrease In Trade Account Payable AdjustmentsForIncreaseDecreaseInTradeAccountPayable	785000	eur
CY2020	ifrs-full	Adjustments For Increase Decrease In Trade Account Payable AdjustmentsForIncreaseDecreaseInTradeAccountPayable	5936000	eur
CY2022	ifrs-full	Adjustments For Decrease Increase In Contract Assets AdjustmentsForDecreaseIncreaseInContractAssets	967000	eur
CY2021	ifrs-full	Adjustments For Decrease Increase In Contract Assets AdjustmentsForDecreaseIncreaseInContractAssets	654000	eur
CY2020	ifrs-full	Adjustments For Decrease Increase In Contract Assets AdjustmentsForDecreaseIncreaseInContractAssets	-565000	eur
CY2022	ifrs-full	Adjustments For Increase Decrease In Contract Liabilities AdjustmentsForIncreaseDecreaseInContractLiabilities	17387000	eur
CY2021	ifrs-full	Adjustments For Increase Decrease In Contract Liabilities AdjustmentsForIncreaseDecreaseInContractLiabilities	-1802000	eur
CY2020	ifrs-full	Adjustments For Increase Decrease In Contract Liabilities AdjustmentsForIncreaseDecreaseInContractLiabilities	-29686000	eur
CY2022	ifrs-full	Adjustments For Increase Decrease In Insurance Reinsurance And Investment Contract Liabilities AdjustmentsForIncreaseDecreaseInInsuranceReinsuranceAndInvestmentContractLiabilities	-872000	eur
CY2021	ifrs-full	Adjustments For Increase Decrease In Insurance Reinsurance And Investment Contract Liabilities AdjustmentsForIncreaseDecreaseInInsuranceReinsuranceAndInvestmentContractLiabilities	-2577000	eur
CY2020	ifrs-full	Adjustments For Increase Decrease In Insurance Reinsurance And Investment Contract Liabilities AdjustmentsForIncreaseDecreaseInInsuranceReinsuranceAndInvestmentContractLiabilities	-140000	eur
CY2022	ifrs-full	Adjustments For Provisions AdjustmentsForProvisions	-845000	eur
CY2021	ifrs-full	Adjustments For Provisions AdjustmentsForProvisions	6112000	eur
CY2020	ifrs-full	Adjustments For Provisions AdjustmentsForProvisions	3082000	eur
CY2022	ifrs-full	Adjustments For Increase Decrease In Other Current Liabilities AdjustmentsForIncreaseDecreaseInOtherCurrentLiabilities	651000	eur
CY2021	ifrs-full	Adjustments For Increase Decrease In Other Current Liabilities AdjustmentsForIncreaseDecreaseInOtherCurrentLiabilities	3283000	eur
CY2020	ifrs-full	Adjustments For Increase Decrease In Other Current Liabilities AdjustmentsForIncreaseDecreaseInOtherCurrentLiabilities	-45000	eur
CY2022	ifrs-full	Cash Flows From Used In Operating Activities CashFlowsFromUsedInOperatingActivities	-57805000	eur
CY2021	ifrs-full	Cash Flows From Used In Operating Activities CashFlowsFromUsedInOperatingActivities	-18304000	eur
CY2020	ifrs-full	Cash Flows From Used In Operating Activities CashFlowsFromUsedInOperatingActivities	-12584000	eur
CY2022	ifrs-full	Purchase Of Property Plant And Equipment Classified As Investing Activities PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities	3484000	eur
CY2021	ifrs-full	Purchase Of Property Plant And Equipment Classified As Investing Activities PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities	1576000	eur
CY2020	ifrs-full	Purchase Of Property Plant And Equipment Classified As Investing Activities PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities	1059000	eur
CY2022	ifrs-full	Purchase Of Intangible Assets Classified As Investing Activities PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities	7586000	eur
CY2021	ifrs-full	Purchase Of Intangible Assets Classified As Investing Activities PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities	4009000	eur
CY2020	ifrs-full	Purchase Of Intangible Assets Classified As Investing Activities PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities	5564000	eur
CY2022	ifrs-full	Interest Received Classified As Investing Activities InterestReceivedClassifiedAsInvestingActivities	196000	eur
CY2022	ifrs-full	Cash Flows From Used In Investing Activities CashFlowsFromUsedInInvestingActivities	-10874000	eur
CY2021	ifrs-full	Cash Flows From Used In Investing Activities CashFlowsFromUsedInInvestingActivities	-5585000	eur
CY2020	ifrs-full	Cash Flows From Used In Investing Activities CashFlowsFromUsedInInvestingActivities	-6623000	eur
CY2021	ifrs-full	Proceeds From Borrowings Classified As Financing Activities ProceedsFromBorrowingsClassifiedAsFinancingActivities	26409000	eur
CY2021Q4	ifrs-full	Equity Equity	96892000	eur
CY2020	ifrs-full	Proceeds From Borrowings Classified As Financing Activities ProceedsFromBorrowingsClassifiedAsFinancingActivities	10354000	eur
CY2022	ifrs-full	Repayments Of Borrowings Classified As Financing Activities RepaymentsOfBorrowingsClassifiedAsFinancingActivities	7522000	eur
CY2021	ifrs-full	Repayments Of Borrowings Classified As Financing Activities RepaymentsOfBorrowingsClassifiedAsFinancingActivities	354000	eur
CY2021	ifrs-full	Proceeds From Issuing Shares ProceedsFromIssuingShares	265372000	eur
CY2021	adse	Proceeds From Cash Election By Shareholders In Lieu Of Shares ProceedsFromCashElectionByShareholdersInLieuOfShares	84112000	eur
CY2021	adse	Proceeds From Transaction Cost Deducted From Equity ProceedsFromTransactionCostDeductedFromEquity	14991000	eur
CY2021	adse	Repayment Of Shareholder Loans RepaymentOfShareholderLoans	43257000	eur
CY2021	adse	Proceeds From Redemption Of Equity ProceedsFromRedemptionOfEquity	19976000	eur
CY2022	ifrs-full	Payments Of Lease Liabilities Classified As Financing Activities PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities	706000	eur
CY2021	ifrs-full	Payments Of Lease Liabilities Classified As Financing Activities PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities	569000	eur
CY2020	ifrs-full	Payments Of Lease Liabilities Classified As Financing Activities PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities	454000	eur
CY2022	ifrs-full	Interest Paid Classified As Financing Activities InterestPaidClassifiedAsFinancingActivities	427000	eur
CY2021	ifrs-full	Interest Paid Classified As Financing Activities InterestPaidClassifiedAsFinancingActivities	2571000	eur
CY2022	ifrs-full	Cash Flows From Used In Financing Activities CashFlowsFromUsedInFinancingActivities	-8655000	eur
CY2021	ifrs-full	Cash Flows From Used In Financing Activities CashFlowsFromUsedInFinancingActivities	125950000	eur
CY2020	ifrs-full	Cash Flows From Used In Financing Activities CashFlowsFromUsedInFinancingActivities	9900000	eur
CY2022	ifrs-full	Increase Decrease In Cash And Cash Equivalents Before Effect Of Exchange Rate Changes IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges	-77334000	eur
CY2021	ifrs-full	Increase Decrease In Cash And Cash Equivalents Before Effect Of Exchange Rate Changes IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges	102062000	eur
CY2020	ifrs-full	Increase Decrease In Cash And Cash Equivalents Before Effect Of Exchange Rate Changes IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges	-9307000	eur
CY2021Q4	ifrs-full	Cash And Cash Equivalents CashAndCashEquivalents	101813000	eur
CY2020Q4	ifrs-full	Cash And Cash Equivalents CashAndCashEquivalents	18000	eur
CY2019Q4	ifrs-full	Cash And Cash Equivalents CashAndCashEquivalents	9325000	eur
CY2022	ifrs-full	Effect Of Exchange Rate Changes On Cash And Cash Equivalents EffectOfExchangeRateChangesOnCashAndCashEquivalents	9962000	eur
CY2021	ifrs-full	Effect Of Exchange Rate Changes On Cash And Cash Equivalents EffectOfExchangeRateChangesOnCashAndCashEquivalents	-267000	eur
CY2022Q4	ifrs-full	Cash And Cash Equivalents CashAndCashEquivalents	34441000	eur
CY2021Q4	ifrs-full	Cash And Cash Equivalents CashAndCashEquivalents	101813000	eur
CY2020Q4	ifrs-full	Cash And Cash Equivalents CashAndCashEquivalents	18000	eur
CY2021Q4	ifrs-full	Equity Equity	96892000	eur
CY2022	ifrs-full	Profit Loss ProfitLoss	-18906000	eur
CY2022	ifrs-full	Other Comprehensive Income OtherComprehensiveIncome	46000	eur
CY2022	adse	Comprehensive Incomes ComprehensiveIncomes	78031000	eur
CY2022	ifrs-full	Increase Decrease Through Transfers And Other Changes Equity IncreaseDecreaseThroughTransfersAndOtherChangesEquity	25000	eur
CY2022	adse	Stock Compensation StockCompensation	2690000	eur
CY2022	adse	Total Contributions And Distributions TotalContributionsAndDistributions	2715000	eur
CY2022Q4	ifrs-full	Equity Equity	80747000	eur
CY2020Q4	ifrs-full	Equity Equity	-8589000	eur
CY2021	ifrs-full	Other Comprehensive Income OtherComprehensiveIncome	-2000	eur
CY2021	adse	Comprehensive Incomes ComprehensiveIncomes	-87642000	eur
CY2021	ifrs-full	Increase Decrease Through Treasury Share Transactions IncreaseDecreaseThroughTreasuryShareTransactions	137841000	eur
CY2021	adse	Share Issuance In Connection With A Merger ShareIssuanceInConnectionWithAMerger	138041000	eur
CY2021	adse	Capital Contribution CapitalContribution	1342000	eur
CY2021	adse	Stock Compensation StockCompensation	10000	eur
CY2021	adse	Cash Election By Shareholders In Lieu Of Shares CashElectionByShareholdersInLieuOfShares	-84113000	eur
CY2021	adse	Total Contributions And Distributions TotalContributionsAndDistributions	193121000	eur
CY2019Q4	ifrs-full	Equity Equity	1691000	eur
CY2020	ifrs-full	Profit Loss ProfitLoss	-10280000	eur
CY2020	adse	Comprehensive Incomes ComprehensiveIncomes	-10280000	eur
CY2020Q4	ifrs-full	Equity Equity	-8589000	eur
CY2022	adse	Ordinary Share OrdinaryShare	48904771	shares
CY2022	adse	Ordinary Shares Percentage OrdinarySharesPercentage	1	pure
CY2022Q4	ifrs-full	Percentage Of Voting Equity Interests Acquired PercentageOfVotingEquityInterestsAcquired	0.3603	pure
CY2021Q4	ifrs-full	Percentage Of Voting Equity Interests Acquired PercentageOfVotingEquityInterestsAcquired	0.361	pure
CY2021Q1	adse	Initial Public Offering Units InitialPublicOfferingUnits	12500000	shares
CY2021Q1	ifrs-full	Par Value Per Share ParValuePerShare	0.0001
CY2021Q1	adse	Holder Purchase One Class A Ordinary Per Share HolderPurchaseOneClassAOrdinaryPerShare	11.5
CY2021Q1	adse	Units Sold Price UnitsSoldPrice	10
CY2021Q1	adse	Generating Gross Proceeds GeneratingGrossProceeds	143750000	usd
CY2021Q1	adse	Aggregate Warrant Shares AggregateWarrantShares	4375000	shares
CY2021Q1	us-gaap	Sale Of Stock Price Per Share SaleOfStockPricePerShare	1
CY2021Q4	ifrs-full	Cash And Cash Equivalents Amount Contributed To Fair Value Of Plan Assets CashAndCashEquivalentsAmountContributedToFairValueOfPlanAssets	15200000	usd
CY2021Q4	adse	Investor Subscribed Additional Shares InvestorSubscribedAdditionalShares	400000	shares
CY2021Q4	adse	Additional Paid Amount AdditionalPaidAmount	4000000	usd
CY2022	ifrs-full	Profit Loss ProfitLoss	-18906000	eur
CY2021	us-gaap	Profit Loss ProfitLoss	87640000	eur
CY2021Q4	ifrs-full	Inventories Total InventoriesTotal	13063000	eur
CY2022Q4	ifrs-full	Inventories Total InventoriesTotal	53137000	eur
CY2022	adse	Further Purchase Amount FurtherPurchaseAmount	106100000	eur
CY2022Q4	adse	Working Capital WorkingCapital	89000000	eur
CY2022	ifrs-full	Disclosure Of Accounting Judgements And Estimates Explanatory DisclosureOfAccountingJudgementsAndEstimatesExplanatory	<table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">2.</td><td style="text-align: justify">Accounting estimates and management judgements</td></tr></table><p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ADSE makes certain estimates and assumptions regarding the future. Estimates and judgements are continually evaluated based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. In the future, actual experience may differ from these estimates and assumptions. Revisions of estimates are reported prospectively. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Information about estimates and assumptions that may have a material effect on recognition and measurement of assets, liabilities, income, and expenses are provided below:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Revenue from contracts with customers (note 4.1.1)</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Contracts where ADSE provides services to customers, and which are realized over time usually require an estimate regarding future costs to be incurred until completion of the contract. The resulting margin is thus estimated by management based on historical data and current forecasting and reviewed at least annually.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Useful lives of depreciable assets (note 4.2.1, 4.2.2 and 4.2.3)</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The expected useful lives for intangible assets, right-of-use assets, and items of property, plant, and equipment and the associated amortization or depreciation expenses are determined based on the expectations and assessments of management. If the actual useful life is less than the expected useful life, the amount of depreciation or amortization is adjusted accordingly. As part of the determination of impairment losses on fixed assets, estimates relating to the reason, timing and amount of the impairments are also made. Useful lives are reassessed on a regular basis. Uncertainties in these estimates relate to technological obsolescence that may change the utility of certain software and IT equipment.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Impairment of non-financial assets (note 4.2.1, 4.2.2 and 4.2.3)</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ADSE assesses whether there are any indicators of impairment for all non-financial assets at each reporting date. Other non-financial assets are tested for impairment when there are indications that the carrying amounts may not be recoverable.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Inventories (note 4.2.5)</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Management estimates the net realizable values of inventories, considering the most reliable evidence available at the reporting date.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Allowances for expected credit losses (ECL) of trade receivables and contract assets (note 4.1.1 and 4.2.6)</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Management determines the expected credit losses (ECL) as a probability-weighted estimate of credit losses over the expected life of the trade receivables and contract assets (simplified approach). The most common-used calculation formula for ECL according to IFRS 9 which is applied in accordance with our accounting policy is:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ECL = EAD * PD * LGD</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">[Expected Credit Losses = Exposure at Default (gross value) * Probability of Default * Loss Given Default]</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Exposure at Default is the amount outstanding. Probability of default (PD) rates are determined by an external service provider, which is a credit insurance group.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Management estimates loss given default (LGD) rates. ADSE uses a LGD rate of 40% as a management evaluation.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Provisions (note 4.2.12)</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Provisions are recognized for various circumstances as part of ordinary operating activities. The amount of the anticipated cash outflows is determined based on assumptions and estimates for each specific circumstance and reflects the most probable settlement amount of the present obligation at the reporting date. These assumptions may be subject to changes, which lead to a deviation in future periods.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Recoverability of deferred tax assets (note 4.1.7)</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Deferred tax assets are recognized only to the extent that it is probable that taxable profit will be available against which the deductible temporary differences, tax loss carryforwards and tax credits can be utilized. Significant management judgement is required to determine the amount of deferred tax assets that can be recognized, based upon the likely timing and the level of future taxable profits, together with future tax planning opportunities.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ADSE assesses the recoverability of deferred tax assets at each balance sheet date based on planned taxable income in future fiscal years; if it is assumed that future tax benefits cannot be utilized, a valuation allowance is made on the deferred tax assets.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Uncertain tax positions (note 4.1.7)</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In cases for which it is probable that amounts declared as expenses in the tax returns might not be recognized (uncertain tax positions), a liability for income taxes is recognized. The amount is based on the best estimate of the expected tax payment (expected value or most likely amount). Tax refund claims from uncertain tax positions are recognized when it is probable that they can be realized. In the case of tax loss, no liability for taxes or tax claim is recognized for these uncertain tax positions. Instead, the deferred tax assets for the unused tax loss carryforwards or tax credits are to be adjusted.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Share-based payments (note 4.3)</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Estimating fair value for share-based payment transactions requires determination of the most appropriate valuation model, which depends on the terms and conditions of the grant. This estimate also requires determination of the most appropriate inputs to the valuation model including the expected life of the share option or appreciation right, volatility and dividend yield and making assumptions about them. Management has grouped the beneficiaries into homogeneous groups based on their level of hierarchy to derive exit rates based on past and expected future fluctuations resulting in expected exit rates of 0-5% for all periods presented. The assumptions and models used for estimating the fair value of equity settled share-based payments are disclosed in note 4.3. </p>
CY2022	adse	Rate Of Management Evaluation RateOfManagementEvaluation	0.40	pure
CY2022	ifrs-full	Disclosure Of Summary Of Significant Accounting Policies Explanatory DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory	<table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.</td><td style="text-align: justify">Accounting policies</td></tr></table><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34pt; text-align: justify; text-indent: -34pt"> </p><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.1</td><td style="text-align: justify">Basis of preparation</td></tr></table><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Applied IFRS</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The consolidated financial statements of ADSE have been prepared in accordance and in conformity with the International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB). The term IFRS also includes all valid International Accounting Standards (IAS) as well as the interpretations of the International Financial Reporting Interpretation Committee (IFRIC). These consolidated financial statements cover the financial year from January 01, 2022 to December 31, 2022 (comparison period: financial year January 01, 2021, to December 31, 2021, and financial year January 01, 2020 to December 31, 2020). Comparable information in the financial statements for the comparison period from January 01, 2021, to December 31, 2021, is represented by the consolidated financial statements of ADSE Holdco. Comparable information in the financial statements for the comparison period from January 01, 2020, to December 31, 2020, is represented by the annual financial statements of ADSE GM. The accounting policies applied in these consolidated financial statements are the same as those applied in the comparison period as at and for the year ended December 31, 2021. Other accounting standards issued by the IASB that are not yet applied or that become effective in the future are not expected to have any material impact on the consolidated financial statements.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Principles of presentation</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The reporting period corresponds to the calendar year. The consolidated financial statements are presented in Euro, which is ADSE’s functional currency. All amounts have been rounded to the nearest thousand, unless otherwise indicated. In some cases, rounding could mean that values in this report do not add up to the exact sum given or percentages do not equal the values presented.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Presentation in the consolidated financial statements differentiate between current and non-current assets and liabilities. Assets and liabilities are generally classified as current if they are expected to be realized or settled within one year. Deferred tax assets and liabilities are generally presented as non-current items. The consolidated statement of comprehensive income is presented using the cost-of-sales method.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ADSE has prepared the consolidated financial statements on a going concern basis, which assumes that ADSE will be able to discharge its liabilities. Management has a reasonable expectation that ADSE has and will have adequate resources to continue in operational existence for the foreseeable future. For further information also refer to note 1.4.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ADSE operates its business based on its two operating segments (Europe and North America) which also form the basis for segment reporting (see note 5).</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The consolidated financial statements were authorized by management on May 10, 2023.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Principles of measurement</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The consolidated financial statements have been prepared on the historical-cost basis unless otherwise indicated. A corresponding explanation is provided in the context of the respective accounting policies.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Principles of consolidation</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The consolidated financial statements comprise the statement of ADSE Holdco, its subsidiaries and associates as at December 31, 2022. Subsidiaries are entities controlled by ADSE Holdco. An entity is controlled if ADSE Holdco is exposed to variable returns from its involvement within the entity and has entitlements to these. Control also exists if the parent company has the ability to affect the returns through its power over the entity. In assessing control, potential voting rights that currently are exercisable are considered. The annual financial statements of subsidiaries and associates are included in the consolidated financial statements from the date that control commences until the date that control ceases. The accounting policies of subsidiaries and associates have been changed when necessary to align them with the policies adopted by ADSE. Internal Group profits and losses, expenses, and revenues as well as receivables and liabilities are eliminated.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34pt; text-align: justify; text-indent: -34pt"> </p><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.2</td><td style="text-align: justify">New accounting standards and interpretations</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ADSE applied all the effective standards and interpretations issued by the IASB and the IFRIC for preparation of the consolidated financial statements if their application was required for annual periods beginning on or after January 01, 2022. However, none of the new accounting standards are expected to impact ADSE as they are either not relevant to ADSE’s activities or require accounting which is inconsistent with ADSE’s current accounting policies.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">New accounting standards and amendments to standards or interpretations effective as of January 01, 2022:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="padding-left: 0.125in; text-indent: -0.125in; border-bottom: Black 1.5pt solid; vertical-align: bottom; text-align: left; width: 20%"><p style="margin-left: 0.25in; text-indent: -0.25in; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"/><p style="margin-left: 0.25in; text-indent: -0.25in; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><b>Standard</b></p></td><td style="vertical-align: top; text-align: center; width: 1%; font-weight: bold"> </td> <td style="border-bottom: Black 1.5pt solid; vertical-align: bottom; text-align: center; width: 63%; font-weight: bold">Name</td><td style="vertical-align: top; text-align: center; width: 1%; font-weight: bold"> </td> <td style="border-bottom: Black 1.5pt solid; vertical-align: top; width: 15%; font-weight: bold; text-align: center">Effective date</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; vertical-align: top">IAS 16</td><td style="text-align: left; vertical-align: top"> </td> <td style="vertical-align: top; text-align: left">Property, plant and equipment: Proceeds before in-tended use - Amendments to IAS 16</td><td style="text-align: left; vertical-align: top"> </td> <td style="vertical-align: top; text-align: center">Jan. 01, 2022</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; vertical-align: top">IAS 37</td><td style="text-align: left; vertical-align: top"> </td> <td style="vertical-align: top; text-align: left">Amendments to IAS 37: Onerous contracts - cost of fulfilling a contract</td><td style="text-align: left; vertical-align: top"> </td> <td style="vertical-align: top; text-align: center">Jan. 01, 2022</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; vertical-align: top; text-align: left">IAS 41, IFRS 1, IFRS 9, IFRS 16<br/> Annual improvements<br/> 2018 - 2020</td><td style="text-align: left; vertical-align: top"> </td> <td style="vertical-align: top; text-align: left">Annual improvements to IAS 41 - Agriculture, IFRS 1 - First-time adoption of IFRS, IFRS 9 - Financial instruments, IFRS 16 - Leases</td><td style="text-align: left; vertical-align: top"> </td> <td style="vertical-align: top; text-align: center">Jan. 01, 2022</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; vertical-align: top">IFRS 3</td><td style="text-align: left; vertical-align: top"> </td> <td style="vertical-align: top; text-align: left">Amendments to IFRS 3: Reference to the conceptual framework</td><td style="text-align: left; vertical-align: top"> </td> <td style="vertical-align: top; text-align: center">Jan. 01, 2022</td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The standards and amendments to standards and interpretations below have been published by the IASB but are not mandatorily effective for annual periods beginning on or after January 01, 2022 and therefore have not been early adopted in these consolidated financial statements by ADSE.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom; "> <td style="border-bottom: Black 1.5pt solid; padding-bottom: 1.5pt; width: 20%"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Standard</b></p></td><td style="padding-bottom: 1.5pt; width: 1%; font-weight: bold"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: center; width: 63%; font-weight: bold">Name</td><td style="padding-bottom: 1.5pt; width: 1%; font-weight: bold"> </td> <td style="border-bottom: Black 1.5pt solid; vertical-align: top; width: 15%; font-weight: bold; text-align: center">Effective date</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; vertical-align: top">IFRS 17</td><td style="text-align: left; vertical-align: top"> </td> <td style="vertical-align: top; text-align: left">Insurance contracts</td><td style="text-align: left; vertical-align: top"> </td> <td style="vertical-align: top; text-align: center">Jan. 01, 2023</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; vertical-align: top">IAS 8</td><td style="text-align: left; vertical-align: top"> </td> <td style="vertical-align: top; text-align: left">Amendments to IAS 8 – Accounting policies, changes in accounting estimates and errors: Definition of accounting estimates</td><td style="text-align: left; vertical-align: top"> </td> <td style="vertical-align: top; text-align: center">Jan. 01, 2023</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; vertical-align: top">IAS 12</td><td style="text-align: left; vertical-align: top"> </td> <td style="vertical-align: top; text-align: left">Amendments to IAS 12: Income Taxes: Deferred tax related to assets and liabilities arising from a single transaction</td><td style="text-align: left; vertical-align: top"> </td> <td style="vertical-align: top; text-align: center">Jan. 01, 2023</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; vertical-align: top">IFRS 16</td><td style="text-align: left; vertical-align: top"> </td> <td style="vertical-align: top; text-align: left">Amendments to IFRS 16 – Leases: Liability in a sale and leaseback</td><td style="text-align: left; vertical-align: top"> </td> <td style="vertical-align: top; text-align: center">Jan. 01, 2024</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; vertical-align: top">IAS 1</td><td style="text-align: left; vertical-align: top"> </td> <td style="vertical-align: top; text-align: left">Amendments to IAS 1: Presentation of financial statements: Classification of liabilities as current or non-current</td><td style="text-align: left; vertical-align: top"> </td> <td style="vertical-align: top; text-align: center">Jan. 01, 2024</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; vertical-align: top">IAS 1</td><td style="text-align: left; vertical-align: top"> </td> <td style="vertical-align: top; text-align: left">Amendments to IAS 1: Presentation of financial statements: Non-current liabilities with covenants</td><td style="text-align: left; vertical-align: top"> </td> <td style="vertical-align: top; text-align: center">Jan. 01, 2024</td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3</td><td style="text-align: justify">Significant accounting policies</td></tr></table><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34pt; text-indent: -34pt"> </p><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.1</td><td>Revenue from contracts with customers</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ADSE develops, produces, and distributes battery storage and charging solutions for different areas of applications. ADSE is already generating revenues from its products in the field of highly efficient battery storage solutions and ultra-high power rapid charging systems. The product portfolio ranges from the field “residential” which includes small storage solutions, to the field “industrial” including power ranges up to multiple MW/MWh, as well as to the field “charging” which provides charging solutions for the expansion of the eMobility infrastructure at power-limited network points. Additionally, ADSE provides its customers with software solutions regarding intelligent controlling and monitoring of battery storage solutions. Other revenues include for example separately acquirable service contracts or maintenance services.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Revenue is measured based on the consideration to which ADSE expects to be entitled in a contract with a customer and excludes amounts collected on behalf of third parties. If a contract with a customer contains more than one performance obligation the transaction price is allocated to each performance obligation on a relative-stand-alone selling price basis. ADSE has generally concluded that it acts as the principal in its revenue arrangements because it typically controls the goods or services before transferring them to the customer.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In the contracts with customers, ADSE usually promises to fulfill one performance obligation, the delivery of a promised good. In some cases, there can also be contracts with either a series of separate performance obligations (serial delivery of products) or two promises in a contract (development services and delivery of products) that are combined into one performance obligation.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">According to IFRS 15, ADSE recognizes revenue when it transfers the control of a good or service to a customer. The decision if control is transferred at a point in time or over a period of time requires discretionary decisions. Revenue from the delivery of products is recognized at a point in time. Revenue from development activities in combination with the delivery of products is recognized over time over the term of the contract.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Most of revenue from contracts with customers recognized by ADSE is made within the revenue stream “Charging” (see Note 4.1.1 for more information). This revenue stream mainly includes the production and delivery of ChargeBox (CBX) and ChargePost (CPT). Revenue for the CBX and CPT is recognized once the product is transferred to the customer. For the years ended December 31, 2021, and December 31, 2020, revenue for the CBX also includes development cost contributions made by the customer. These cost contributions are also recognized in accordance with the delivery of the CBX. Additionally, for the year ended December 31, 2020, the revenue stream “Charging” includes the delivery of a Chargetrailer system in the form of a truck trailer. The revenue for the truck trailer is recognized over time. The stage of completion for each contract is determined by the ratio of costs incurred to expected total costs (cost-to-cost method).</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Further information on the nature and timing of the settlement of performance obligations arising from contracts with customers, including significant terms and conditions of payment, and the related revenue recognition principles are described in note 4.1.1.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A significant number of contracts are negotiated on a bill and hold basis. In such arrangements revenue is recognized even though ADSE still has physical possession only if:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">the arrangement is substantive (i.e. requested by the customer),</td></tr><tr style="vertical-align: top"> <td> </td><td> </td><td style="text-align: justify"> </td></tr> </table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">the finished goods have been identified separately as belonging to the customer,</td></tr><tr style="vertical-align: top"> <td> </td><td> </td><td style="text-align: justify"> </td></tr> </table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">the product is ready for physical transfer to the customer, and</td></tr><tr style="vertical-align: top"> <td> </td><td> </td><td style="text-align: justify"> </td></tr> </table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">ADSE does not have the ability to use the product to direct it to another customer.</td></tr></table><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34pt; text-indent: -34pt"> </p><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.2</td><td>Financial expenses</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Finance cost of ADSE includes interest expense from loans and borrowings. Interest expense is recognized in the financial statement of the period in which it is incurred.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.3</td><td>Intangible assets</td></tr></table><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Separately acquired intangible Assets</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Intangible assets with finite useful lives that are acquired separately are carried at cost less accumulated amortization and accumulated impairment losses. Amortization is recognized on a straight-line basis over their estimated useful lives. The estimated useful life and amortization method are reviewed at the end of each reporting period, with the effect of any changes in estimate being accounted for on a prospective basis. Intangible assets with indefinite useful lives that are acquired separately are carried at cost less accumulated impairment losses.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">An intangible asset shall be derecognized on disposal or when no further economic benefits are expected from its use or disposal. The gain or loss arising from derecognition of an intangible asset, measured as the difference between the net disposal proceeds and the carrying amount of the asset, are recognized in the income statement when the asset is derecognized. This is recognized under other income or other expenses.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Subsequent expenditure is capitalized only when it increases the future economic benefits embodied in the specific asset to which it relates. All other expenditure, including expenditure on internally generated goodwill and brands, is recognized in profit or loss as incurred.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Internally generated intangible assets</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In developing highly efficient battery storage solutions and high-power-charging systems for electric vehicles, ADSE is incurring significant research and development costs.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Expenditure on research activities is recognized in profit or loss as incurred.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">An internally generated intangible asset arising from development (this is essentially the case for software applications) is recognized if, and only if, all of the following conditions have been demonstrated:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"/><td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify">the technical feasibility of completing the intangible asset so that it will be available for use or sale;</td> </tr><tr style="vertical-align: top; text-align: justify"> <td> </td><td style="text-align: left"> </td><td style="text-align: justify"> </td></tr> </table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"/><td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify">the intention to complete the intangible asset and use or sell it;</td> </tr><tr style="vertical-align: top; text-align: justify"> <td> </td><td style="text-align: left"> </td><td style="text-align: justify"> </td></tr> </table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"/><td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify">the ability to use or sell the intangible asset;</td> </tr><tr style="vertical-align: top; text-align: justify"> <td> </td><td style="text-align: left"> </td><td style="text-align: justify"> </td></tr> </table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"/><td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify">how the intangible asset will generate probable future economic benefits;</td> </tr><tr style="vertical-align: top; text-align: justify"> <td> </td><td style="text-align: left"> </td><td style="text-align: justify"> </td></tr> </table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">the availability of adequate technical, financial and other resources to complete the development and to use or sell the intangible asset; and</td></tr><tr style="vertical-align: top"> <td> </td><td> </td><td style="text-align: justify"> </td></tr> </table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">the ability to measure reliably the expenditure attributable to the intangible asset during its development.</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The amount initially recognized for internally generated intangible assets is the sum of the expenditure incurred from the date when the intangible asset first meets the recognition criteria listed above. Where no internally generated intangible asset can be recognized, development expenditure is recognized in profit or loss in the period in which it is incurred.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Subsequent to initial recognition, internally generated intangible assets are reported at cost less accumulated amortization and accumulated impairment losses, on the same basis as intangible assets that are acquired separately.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">An intangible asset is derecognized on disposal, or when no future economic benefits are expected from use or disposal. Gains or losses arising from derecognition of an intangible asset, measured as the difference between the net disposal proceeds and the carrying amount of the asset and are recognized in profit or loss when the asset is derecognized. This is recognized under other income or other expenses.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ADSE has already carried out successful research and development projects from which a work result in the form of a tangible or intangible asset has arisen. The management of ADSE recognizes an interest for the supply of ultra-high charging stations in limited-power distribution grids. The self-developed technology for ultra-high charging has already reached market maturity and is actively marketed. Consequently, ADSE has capitalized development costs regarding the technology in its CBX. The product resulting from the development performance is considerably more space-saving compared to conventional products of this type and is future-proof in the field of electromobility due to its compatibility with high-voltage areas.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ADSE developed the product ChargeTrailer, a powerful mobile ultra-high-power charging system in the form of a truck trailer. The product resulting from the development performance has a much higher charging power compared to conventional products of this type and is also future-proof due to the variable current and voltage ranges. ADSE has not capitalized development costs as the product was specifically designed for one customer.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In addition, ADSE has capitalized development costs regarding the self-developed technology for ultra-high charging in its CPT. The product is a battery-buffered ultra-fast charging station and is able to offer ultra-high charging capacity even if the power grid does not provide the desired power. CPT enables off-grid charging and takes ultra-fast charging to a higher level.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ADSE continues to pursue the consistent development of products in the field of highly efficient battery storage solutions and ultra-high power rapid charging systems. ADSE aims to be a pioneer in its business field through the research and development activities. The costs for the development of specific products will be capitalized when the criteria for the recognition as an intangible asset are fulfilled.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The estimated useful lives for current and comparative periods are as follows:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; white-space: nowrap; font-weight: bold; text-align: center">Useful life <br/> in years</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 88%; padding-bottom: 1.5pt">Software</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: center">3</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">ChargeBox (CBX)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: center">7</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">ChargePost (CPT)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: center">7</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.4</td><td>Leases</td></tr></table><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ADSE as a lessee</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">At inception of a contract, ADSE assesses whether a contract is, or contains, a lease. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ADSE recognizes a right-of-use asset and a lease liability at the lease commencement date. None of the leasing contracts started before the date of transition. The right-of-use asset is initially measured at cost, which comprises the initial amount of the lease liability adjusted for any lease payments made at or before the commencement date, plus, if applicable, any initial direct costs incurred and an estimate of costs to dismantle and remove the underlying asset or to restore the underlying asset or the site on which it is located, less any lease incentives received.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The right-of-use asset is subsequently depreciated using the straight-line method from the commencement date to the end of the lease term unless the lease transfers ownership of the underlying asset to ADSE by the end of the lease term or the cost of the right-of-use asset reflects that ADSE will exercise a purchase option. In that case the right-of-use asset will be depreciated over the useful life of the underlying asset, which is determined on the same basis as those of property and equipment. In addition, the right-of-use asset is periodically reduced by impairment losses, if any, and adjusted for certain remeasurements of the lease liability.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, ADSE’s incremental borrowing rate.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ADSE determines its incremental borrowing rate by obtaining interest rates from external financing sources and makes certain adjustments to reflect the terms of the lease and type of the asset leased.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Lease payments included in the measurement of the lease liability comprise the following:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">fixed payments, including in-substance fixed payments;</td></tr><tr style="vertical-align: top"> <td> </td><td> </td><td style="text-align: justify"> </td></tr> </table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">variable lease payments that depend on an index or a rate, initially measured using the index or rate as at the commencement date;</td></tr><tr style="vertical-align: top"> <td> </td><td> </td><td style="text-align: justify"> </td></tr> </table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">amounts expected to be payable under a residual value guarantee; and</td></tr><tr style="vertical-align: top"> <td> </td><td> </td><td style="text-align: justify"> </td></tr> </table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 17.85pt"/><td style="width: 17.85pt">●</td><td style="text-align: justify">the exercise price under a purchase option that ADSE is reasonably certain to exercise, lease payments in an optional renewal period if ADSE Energy is reasonably certain to exercise an extension option, and penalties for early termination of a lease unless ADSE is reasonably certain not to terminate early.</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The lease liability is measured at amortized cost using the effective interest method. It is remeasured when there is a change in future lease payments arising from a change in an index or rate, if there is a change in ADSE’s estimate of the amount expected to be payable under a residual value guarantee, if ADSE changes its assessment of whether it will exercise a purchase, extension, or termination option or if there is a revised in-substance fixed lease payment.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">When the lease liability is remeasured in this way, a corresponding adjustment is made to the carrying amount of the right-of-use asset or is recorded in profit or loss if the carrying amount of the right-of-use asset has been reduced to zero.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ADSE has elected not to recognize right-of-use assets and lease liabilities for leases of low-value assets and short-term leases. ADSE recognizes the lease payments associated with these leases as an expense on a straight-line basis over the lease term.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The estimated useful lives of right-of-use assets for property and vehicles for current and comparative periods are as follows:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b> </b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b> </b></p></td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 1.5pt solid; white-space: nowrap; font-weight: bold; text-align: center">Useful life <br/> in years</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 50%; text-align: left">Property (Right-of-use assets)</td><td style="width: 1%"> </td> <td style="width: 9%; text-align: center">1-10</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Vehicles (Right-of-use assets)</td><td> </td> <td style="text-align: center">1-4</td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.5</td><td>Property, plant, and equipment</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Items of property, plant, and equipment are measured at cost less accumulated depreciation and any accumulated impairment losses.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If significant parts of an item of property, plant and equipment have different useful lives, then they are accounted for as separate items (major components) of property, plant, and equipment.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Any gain or loss on disposal of an item of property, plant and equipment is recognized in profit or loss.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Subsequent expenditure is capitalized only if it is probable that the future economic benefits associated with the expenditure will flow to ADSE. All other expenditure for property, plant and equipment is recognized immediately as an expense.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Depreciation is calculated to write off the cost of items of property, plant, and equipment less their estimated residual values using the straight-line method over their estimated useful lives and is generally recognized in profit or loss.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The estimated useful lives of property, plant, and equipment for current and comparative periods are as follows:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; white-space: nowrap; font-weight: bold; text-align: center">Useful life <br/> in years</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 88%">Vehicles</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: center">6</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Other equipment, operating and office equipment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: center"><span style="font-size: 10pt">3-14</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Technical equipment and machinery</td><td> </td> <td style="text-align: left"> </td><td style="text-align: center">20</td><td style="text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Depreciation methods, useful lives and residual values are reviewed at each reporting date and adjusted if appropriate.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Property, plant, and equipment is derecognized upon disposal or when no future economic benefits are expected from the continued use of the asset. The gain or loss arising from the sale or retirement of a property, plant and equipment is determined as the difference between the proceeds from the sale and the carrying amount of the asset and is recognized in profit or loss under the other income or other expenses.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34pt; text-indent: -34pt"> </p><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.6</td><td>Inventories</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Inventories are measured at the lower of cost and net realizable value. The cost of inventories is based on the weighted average cost principle. In the case of manufactured inventories, cost includes an appropriate share of production overheads based on normal operating capacity.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The subsequent valuation of cost of raw materials and supplies, work in progress and finished goods within ADSE is assigned using the weighted average cost method. In order to ensure an appropriate measurement of inventories, ADSE performs a continuous evaluation of the lifecycle of inventories, i.e. whether inventories have not been sold or used for a long period of time and are not be expected to be sold in the future. For the determination of the net realizable value of inventories, we determine a write-off percentage based on historical and forecasted usage and sales. Based on our continuous observation of inventory trends, a write-off for obsolete inventory is applied.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34pt; text-indent: -34pt"> </p><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.7</td><td>Contract assets and contract liabilities</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A contract asset represents the right to compensation in return for goods or development services that ADSE has transferred to a customer. In addition, this right depends on something other than the expiry of a certain period. If the right to remuneration is unconditional, a receivable is recognized. A contract asset occurs, for example, if ADSE has already incurred an expense for development for a customer within the development and production of goods, but the customer's payment plan has not yet covered this expense.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The contract balance may change during the contract term between contract asset and contract liability depending on whether ADSE or the customer is behind with performance.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Due to the fact that ADSE develops and produces goods for its customers it is possible that either a contract asset, a receivable or a contract liability arises, depending on whether ADSE has an obligation to provide services to a customer for which it has already received payments or for which payment is due or vice versa. A contractual liability represents the obligation to provide development and production of goods to a customer for which ADSE has already received remuneration or for which payment is due according to the agreed payment plan. Also included in contract liabilities are performance obligations regarding extended warranties.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34pt; text-indent: -34pt"> </p><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.8</td><td>Cash and cash equivalents</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Cash and bank balances in the statement of financial position comprises cash on hand and cash at banks including restricted cash.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.9</td><td>Financial instruments</td></tr></table><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34pt; text-indent: -34pt"> </p><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.9.1</td><td>Financial assets</td></tr></table><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Recognition and initial measurement</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Trade receivables are initially recognized when they are originated. Financial assets and financial liabilities are initially recognized when ADSE becomes a party to the contractual provisions of the instrument.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A financial asset (unless it is a trade receivable without a significant financing component) or financial liability is initially measured at fair value plus or minus, for an item not at fair value through profit or loss (FVTPL), transaction costs that are directly attributable to its acquisition or issue. A trade receivable without a significant financing component is initially measured at the transaction price.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Classification, subsequent measurement, impairment and derecognition</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On initial recognition, a financial asset is classified as measured at: amortized cost (FAAC); at fair value through other comprehensive income (FVOCI – debt investment or FVOCI – equity investment); or at fair value through profit or loss (FVTPL).</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Financial assets are not reclassified subsequent to their initial recognition unless ADSE changes its business model for managing financial assets, in which case all affected financial assets are reclassified on the first day of the first reporting period following the change in the business model.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Financial assets at amortized cost are subsequently measured using the effective interest rate method. The amortized cost is reduced by impairment losses. Interest income, foreign exchange gains and losses and impairment are recognized in profit or loss. Any gain or loss on derecognition is recognized in profit or loss.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ADSE derecognizes a financial asset when the contractual rights to the cash flows from the financial asset expire, or it transfers the rights to receive the contractual cash flows in a transaction in which substantially all of the risks and rewards of ownership of the financial asset are transferred or in which ADSE neither transfers nor retains substantially all of the risks and rewards of ownership and it does not retain control of the financial asset.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ADSE recognizes loss allowances for expected credit losses (ECLs) on:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">financial assets measured at amortized cost, and</td></tr><tr style="vertical-align: top"> <td> </td><td> </td><td style="text-align: justify"> </td></tr> </table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 17.85pt"/><td style="width: 17.85pt">●</td><td style="text-align: justify">contract assets.</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ADSE measures loss allowances at an amount equal to lifetime ECLs (simplified approach).</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">When determining whether the credit risk of a financial asset has increased significantly since initial recognition and when estimating ECLs, ADSE considers reasonable and supportable information that is relevant and available without undue cost or effort, this includes both quantitative and qualitative information and analysis.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Impairment losses for financial assets measured at amortized cost are recognized in an impairment account (loss allowance). Loss allowances are deducted from the gross carrying amount of the assets. Changes in the carrying amount of the loss allowance are recognized in profit or loss.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34pt; text-indent: -34pt"> </p><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.9.2</td><td>Financial liabilities</td></tr></table><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Recognition and initial measurement</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Financial liabilities not at fair value through profit or loss (FVTPL) are initially measured at fair value plus or minus transaction costs that are directly attributable to its acquisition or issue.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Classification, subsequent measurement, and derecognition</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Financial liabilities are classified as measured at amortized cost (FLAC) or FVTPL. A financial liability is classified as at FVTPL if it is classified as held-for-trading, it is a derivative or it is designated as such on initial recognition. Financial liabilities at FVTPL are measured at fair value and net gains and losses, including any interest expense, are recognized in profit or loss. They are subsequently measured at amortized cost using the effective interest method. Interest expense and foreign exchange gains and losses are recognized in profit or loss. Any gain or loss on derecognition is also recognized in profit or loss.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ADSE derecognizes a financial liability when its contractual obligations are discharged or cancelled or expire. ADSE also derecognizes a financial liability when its terms are modified and the cash flows of the modified liability are substantially different, in which case a new financial liability based on the modified terms is recognized at fair value.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Financial assets and financial liabilities are offset, and the net amount presented in the statement of financial position when, and only when, ADSE currently has a legally enforceable right to set off the amounts and it intends either to settle them on a net basis or to realize the asset and settle the liability simultaneously.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34pt; text-indent: -34pt"> </p><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.10</td><td>Taxes</td></tr></table><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34pt; text-indent: -34pt"> </p><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.10.1</td><td>Income taxes</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Income taxes are comprised of current and deferred tax based on the appropriate tax rates. Current and deferred taxes are recognized in profit or loss except to the extent that they directly relate to items recorded in equity or other comprehensive income. Income tax receivables and payables recorded comprise the status of amounts to be received, respectively to be paid in the future</span>.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34pt; text-indent: -34pt"> </p><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.10.2</td><td>Current tax</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Current tax comprises the expected tax payables or receivables on the taxable income for the year and any adjustment to the tax payables or receivables in respect of previous years. The amount of current tax payables or receivables is the best estimate of the tax amount expected to be paid or received that reflects uncertainty related to income taxes, if any. It is measured using tax rates enacted or substantively enacted at the reporting date in the countries where the Company and its subsidiaries operate and generate taxable income. During the ordinary course of the business, there are transactions and calculations for which the ultimate tax determination is uncertain. Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation and considers whether it is probable that a taxation authority will accept an uncertain tax treatment. This assessment relies on estimated and assumptions and may involve a series of complex judgments about future events. To the extent that the final tax outcome of these matters is different that the amounts recorded, such differences will impact income tax expense in the period in which such determination is made.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Current tax assets and liabilities are offset only if certain criteria are met.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34pt; text-indent: -34pt"> </p><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.10.3</td><td>Deferred taxes</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Deferred taxes are recognized in respect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Deferred taxes are not recognized for:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">temporary differences on the initial recognition of assets or liabilities in a transaction that is not a business combination and that affects neither accounting nor taxable profit or loss;</td></tr><tr style="vertical-align: top"> <td> </td><td> </td><td style="text-align: justify"> </td></tr> </table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 17.85pt"/><td style="width: 17.85pt">●</td><td style="text-align: justify">temporary differences related to investments in subsidiaries, associates, and joint arrangements to the extent that the entity is able to control the timing of the reversal of the temporary differences and it is probable that they will not reverse in the foreseeable future.</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Deferred tax assets are recognized for unused tax losses and deductible temporary differences to the extent that it is probable that future taxable profits will be available against which they can be utilized. Future taxable profits are determined based on the reversal of relevant taxable temporary differences. If the amount of taxable temporary differences is insufficient to recognize a deferred tax asset in full, future taxable profits are considered, based on the business plans the entity.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Deferred tax assets are reviewed at each reporting date and are reduced if it is no longer probable that the related tax benefit will be realized. Unrecognized deferred tax assets are reassessed at each reporting date and recognized to the extent that it has become probable that future taxable profits will be available against which they can be utilized.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Deferred taxes are measured at the tax rates that are expected to be applied to temporary differences when they reverse, using tax rates enacted or substantively enacted at the reporting date, and reflects uncertainty related to income taxes, if any.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Deferred tax assets and liabilities are offset if certain criteria are met.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34pt; text-indent: -34pt"> </p><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.11</td><td>Share-based payments</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ADSE’s management, members of the board of directors, employees and others providing similar services to ADSE receive remuneration in the form of share-based payments, which are equity-settled transactions. ADSE’s equity-settled option plans are described in detail in note 4.3 and include restricted stock units (RSU) and non-qualified stock options (NQSO).</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The costs of equity-settled transactions are determined by the fair value at grant date, using an appropriate valuation model. Share-based expenses for the respective vesting periods are recognized in general and administrative expenses, reflecting a corresponding increase in equity.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34pt; text-indent: -34pt"> </p><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.12</td><td>Provisions</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A provision is a liability of uncertain timing or amount. Provisions are recognized if ADSE has a present obligation to a third party based on a past event, an outflow of resources to settle the obligation is probable and the amount of the obligation can be reliably estimated. Provisions are discounted if the effect is material.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Provisions where the outflow of resources is likely to occur within the next year are classified as current, and all other provisions as non-current.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the liability. The unwinding of the discount is recognized as finance cost.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A provision for warranties is recognized when the underlying products or services are sold, based on historical warranty data and a weighting of possible outcomes against their associated probabilities.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34pt; text-indent: -34pt"> </p><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.13</td><td>Impairment of non-financial assets</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">At each reporting date, ADSE reviews the carrying amounts of its non-financial assets (other than inventories, contract assets and deferred tax assets) to determine whether there is any indication of impairment. If any such indication exists, then the asset’s recoverable amount is estimated.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For impairment testing, assets are grouped together into the smallest group of assets that generates cash inflows from continuing use that are largely independent of the cash inflows of other assets or cash generating units (CGU).</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Typically, the CGUs are represented by the segments and the impairment test is performed at the level of this CGU. ADSE manages its operations based on two operating segments which also form the CGUs of the Company.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The recoverable amount of an asset or CGU is the greater of its value in use and its fair value less costs to sell. Value in use is based on the estimated future cash flows, discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset or CGU.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">An impairment loss is recognized if the carrying amount of an asset or CGU exceeds its recoverable amount.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Impairment losses are recognized in profit or loss. They are allocated first to reduce the carrying amount of any goodwill allocated to the CGU, and then to reduce the carrying amounts of the other assets in the CGU on a pro rata basis.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">An impairment loss in respect of goodwill is not reversed. For other assets, an impairment loss is reversed only to the extent that the asset’s carrying amount does not exceed the carrying amount that would have been determined, net of depreciation or amortization, if no impairment loss had been recognized.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Impairments and any triggering events did not occur in the reporting period.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34pt; text-indent: -34pt"> </p><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.14</td><td>Foreign currency transactions</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The consolidated financial statements are presented in Euro, which is the functional and presentation currency of ADSE Holdco. Assets and liabilities of foreign operations are translated into Euro at the rate of exchange prevailing at the reporting date. The consolidated statement of comprehensive income is translated at average exchange rates. The currency translation differences are recognized in other comprehensive income or loss. Transactions in foreign currencies are initially recorded by ADSE‘s entities at their respective functional currency spot rates, at the date the transaction first qualifies for recognition. ADSE used the following exchange rates to convert the financial statements of ADSE US:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31, 2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Spot rate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Average<br/> rate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left; padding-left: 2.85pt">Euro per U.S. Dollar</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1.0666</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1.0530</td><td style="width: 1%; text-align: left"> </td></tr> </table><p style="margin: 0"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31, 2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Spot rate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Average<br/> rate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Euro per U.S. Dollar</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1.1326</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1.1827</td><td style="width: 1%; text-align: left"> </td></tr> </table><p style="margin: 0"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 22, 2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Spot rate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Average <br/> rate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Euro per U.S. Dollar</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1.1301</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-104">-</div></td><td style="width: 1%; text-align: left"> </td></tr> </table><p style="margin: 0"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Sep. 15 - Dec. 31, 2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Spot rate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Average<br/> rate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Euro per U.S. Dollar</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-105">-</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1.1478</td><td style="width: 1%; text-align: left"> </td></tr> </table><p style="margin: 0"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Dec. 23-31, 2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Spot rate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Average<br/> rate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Euro per U.S. Dollar</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-106">-</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1.1319</td><td style="width: 1%; text-align: left"> </td></tr> </table><p style="margin: 0"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Nov. 1 - Dec. 31, 2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Spot rate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Average<br/> rate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Euro per U.S. Dollar</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-107">-</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1.1358</td><td style="width: 1%; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Spot rate as of December 31, 2022, is used to translate the balance sheet of ADSE US.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Average rate September 15, - December 31, 2021, which corresponds to the incorporation period, is used to translate the expenses incurred by ADSE US.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Spot rate as of December 22, 2021, is used to translate the balance sheet of EUSG (USA) on the date of the merger with ADSE Holdco.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Average rate November 1 – December 31, 2021, is used to translate the USD expenses incurred by EUSG in the corresponding period.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Average rate December 23 - 31, 2021, is used to convert the USD expenses incurred by the Company in the corresponding period.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34pt; text-indent: -34pt"> </p><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.15</td><td>Earnings per share</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Basic earnings per share (EPS) is calculated by dividing the profit for the year attributable to ordinary equity holders of the ADSE Holdco by the weighted average number of ordinary shares outstanding during the reporting period.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Restricted stock units and non-qualified stock options have been included in the calculation of diluted weighted average number of shares outstanding. These restricted stock units and non-qualified stock options could potentially dilute basic earnings per share in the future.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Also refer to section 4.1.8 for further information on the calculation of basic and diluted earnings per share.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34pt; text-indent: -34pt"> </p><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.16</td><td>Fair value measurement</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value measurement is based on the presumption that the transaction to sell the asset or transfer the liability takes place either:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">in the principal market for the asset or liability; or</td></tr><tr style="vertical-align: top"> <td> </td><td> </td><td style="text-align: justify"> </td></tr> </table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 17.85pt"/><td style="width: 17.85pt">●</td><td style="text-align: justify">in the absence of a principal market, in the most advantageous market for the asset or liability</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The principal or the most advantageous market must be accessible by ADSE. The fair value of a liability reflects its non-performance risk.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The fair value of an asset or a liability is measured using the assumptions that market participants would use when pricing the asset or liability, assuming that market participants act in their economic best interest.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A fair value measurement of a non-financial asset considers a market participant's ability to generate economic benefits by using the asset in its highest and best use or by selling it to another market participant that would use the asset in its highest and best use.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ADSE uses valuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure fair value, maximizing the use of relevant observable inputs and minimizing the use of unobservable inputs.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorized within the fair value hierarchy, described as follows, based on the lowest level input that is significant to the fair value measurement as a whole:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">Level 1 - Quoted (unadjusted) market prices in active markets for identical assets or liabilities,</td></tr><tr style="vertical-align: top"> <td> </td><td> </td><td style="text-align: justify"> </td></tr> </table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">Level 2 - Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indirectly observable, and</td></tr><tr style="vertical-align: top"> <td> </td><td> </td><td style="text-align: justify"> </td></tr> </table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 17.85pt"/><td style="width: 17.85pt">●</td><td style="text-align: justify">Level 3 - Valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable.</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For assets and liabilities that are recognized in the financial statements at fair value on a recurring basis, ADSE determines whether transfers have occurred between levels in the hierarchy by re-assessing categorization (based on the lowest level input that is significant to the fair value measurement as a whole) at the end of each reporting period.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For the purpose of fair value disclosures, ADSE has determined classes of assets and liabilities on the basis of the nature, characteristics and risks of the asset or liability and the level of the fair value hierarchy, as explained above.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34pt; text-indent: -34pt"> </p><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.17</td><td>Government grants</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Government grants related to assets are deducted from the carrying amount of the asset and are recognized in earnings over the life of a depreciable asset as a reduced depreciation expense. Government grants which compensate ADSE for expenses are recognized as other operating income in the same period as the expenses themselves.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34pt; text-indent: -34pt"> </p><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.18</td><td>Reclassifications</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Certain prior period amounts have been reclassified to conform to current year financial statement presentation. These reclassifications had no effect on reported income (loss), comprehensive income (loss), cash flows, or shareholders’ equity as previously reported.</p>
CY2022	ifrs-full	Description Of Accounting Policy For Recognition Of Revenue DescriptionOfAccountingPolicyForRecognitionOfRevenue	<table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.1</td><td>Revenue from contracts with customers</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ADSE develops, produces, and distributes battery storage and charging solutions for different areas of applications. ADSE is already generating revenues from its products in the field of highly efficient battery storage solutions and ultra-high power rapid charging systems. The product portfolio ranges from the field “residential” which includes small storage solutions, to the field “industrial” including power ranges up to multiple MW/MWh, as well as to the field “charging” which provides charging solutions for the expansion of the eMobility infrastructure at power-limited network points. Additionally, ADSE provides its customers with software solutions regarding intelligent controlling and monitoring of battery storage solutions. Other revenues include for example separately acquirable service contracts or maintenance services.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Revenue is measured based on the consideration to which ADSE expects to be entitled in a contract with a customer and excludes amounts collected on behalf of third parties. If a contract with a customer contains more than one performance obligation the transaction price is allocated to each performance obligation on a relative-stand-alone selling price basis. ADSE has generally concluded that it acts as the principal in its revenue arrangements because it typically controls the goods or services before transferring them to the customer.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In the contracts with customers, ADSE usually promises to fulfill one performance obligation, the delivery of a promised good. In some cases, there can also be contracts with either a series of separate performance obligations (serial delivery of products) or two promises in a contract (development services and delivery of products) that are combined into one performance obligation.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">According to IFRS 15, ADSE recognizes revenue when it transfers the control of a good or service to a customer. The decision if control is transferred at a point in time or over a period of time requires discretionary decisions. Revenue from the delivery of products is recognized at a point in time. Revenue from development activities in combination with the delivery of products is recognized over time over the term of the contract.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Most of revenue from contracts with customers recognized by ADSE is made within the revenue stream “Charging” (see Note 4.1.1 for more information). This revenue stream mainly includes the production and delivery of ChargeBox (CBX) and ChargePost (CPT). Revenue for the CBX and CPT is recognized once the product is transferred to the customer. For the years ended December 31, 2021, and December 31, 2020, revenue for the CBX also includes development cost contributions made by the customer. These cost contributions are also recognized in accordance with the delivery of the CBX. Additionally, for the year ended December 31, 2020, the revenue stream “Charging” includes the delivery of a Chargetrailer system in the form of a truck trailer. The revenue for the truck trailer is recognized over time. The stage of completion for each contract is determined by the ratio of costs incurred to expected total costs (cost-to-cost method).</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Further information on the nature and timing of the settlement of performance obligations arising from contracts with customers, including significant terms and conditions of payment, and the related revenue recognition principles are described in note 4.1.1.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A significant number of contracts are negotiated on a bill and hold basis. In such arrangements revenue is recognized even though ADSE still has physical possession only if:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">the arrangement is substantive (i.e. requested by the customer),</td></tr><tr style="vertical-align: top"> <td> </td><td> </td><td style="text-align: justify"> </td></tr> </table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">the finished goods have been identified separately as belonging to the customer,</td></tr><tr style="vertical-align: top"> <td> </td><td> </td><td style="text-align: justify"> </td></tr> </table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">the product is ready for physical transfer to the customer, and</td></tr><tr style="vertical-align: top"> <td> </td><td> </td><td style="text-align: justify"> </td></tr> </table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">ADSE does not have the ability to use the product to direct it to another customer.</td></tr></table><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34pt; text-indent: -34pt"> </p>
CY2022	ifrs-full	Description Of Accounting Policy For Financial Instruments Explanatory DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory	<table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.2</td><td>Financial expenses</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Finance cost of ADSE includes interest expense from loans and borrowings. Interest expense is recognized in the financial statement of the period in which it is incurred.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
CY2022	ifrs-full	Disclosure Of Intangible Assets Explanatory DisclosureOfIntangibleAssetsExplanatory	<table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.3</td><td>Intangible assets</td></tr></table><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Separately acquired intangible Assets</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Intangible assets with finite useful lives that are acquired separately are carried at cost less accumulated amortization and accumulated impairment losses. Amortization is recognized on a straight-line basis over their estimated useful lives. The estimated useful life and amortization method are reviewed at the end of each reporting period, with the effect of any changes in estimate being accounted for on a prospective basis. Intangible assets with indefinite useful lives that are acquired separately are carried at cost less accumulated impairment losses.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">An intangible asset shall be derecognized on disposal or when no further economic benefits are expected from its use or disposal. The gain or loss arising from derecognition of an intangible asset, measured as the difference between the net disposal proceeds and the carrying amount of the asset, are recognized in the income statement when the asset is derecognized. This is recognized under other income or other expenses.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Subsequent expenditure is capitalized only when it increases the future economic benefits embodied in the specific asset to which it relates. All other expenditure, including expenditure on internally generated goodwill and brands, is recognized in profit or loss as incurred.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Internally generated intangible assets</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In developing highly efficient battery storage solutions and high-power-charging systems for electric vehicles, ADSE is incurring significant research and development costs.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Expenditure on research activities is recognized in profit or loss as incurred.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">An internally generated intangible asset arising from development (this is essentially the case for software applications) is recognized if, and only if, all of the following conditions have been demonstrated:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"/><td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify">the technical feasibility of completing the intangible asset so that it will be available for use or sale;</td> </tr><tr style="vertical-align: top; text-align: justify"> <td> </td><td style="text-align: left"> </td><td style="text-align: justify"> </td></tr> </table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"/><td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify">the intention to complete the intangible asset and use or sell it;</td> </tr><tr style="vertical-align: top; text-align: justify"> <td> </td><td style="text-align: left"> </td><td style="text-align: justify"> </td></tr> </table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"/><td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify">the ability to use or sell the intangible asset;</td> </tr><tr style="vertical-align: top; text-align: justify"> <td> </td><td style="text-align: left"> </td><td style="text-align: justify"> </td></tr> </table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"/><td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify">how the intangible asset will generate probable future economic benefits;</td> </tr><tr style="vertical-align: top; text-align: justify"> <td> </td><td style="text-align: left"> </td><td style="text-align: justify"> </td></tr> </table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">the availability of adequate technical, financial and other resources to complete the development and to use or sell the intangible asset; and</td></tr><tr style="vertical-align: top"> <td> </td><td> </td><td style="text-align: justify"> </td></tr> </table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">the ability to measure reliably the expenditure attributable to the intangible asset during its development.</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The amount initially recognized for internally generated intangible assets is the sum of the expenditure incurred from the date when the intangible asset first meets the recognition criteria listed above. Where no internally generated intangible asset can be recognized, development expenditure is recognized in profit or loss in the period in which it is incurred.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Subsequent to initial recognition, internally generated intangible assets are reported at cost less accumulated amortization and accumulated impairment losses, on the same basis as intangible assets that are acquired separately.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">An intangible asset is derecognized on disposal, or when no future economic benefits are expected from use or disposal. Gains or losses arising from derecognition of an intangible asset, measured as the difference between the net disposal proceeds and the carrying amount of the asset and are recognized in profit or loss when the asset is derecognized. This is recognized under other income or other expenses.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ADSE has already carried out successful research and development projects from which a work result in the form of a tangible or intangible asset has arisen. The management of ADSE recognizes an interest for the supply of ultra-high charging stations in limited-power distribution grids. The self-developed technology for ultra-high charging has already reached market maturity and is actively marketed. Consequently, ADSE has capitalized development costs regarding the technology in its CBX. The product resulting from the development performance is considerably more space-saving compared to conventional products of this type and is future-proof in the field of electromobility due to its compatibility with high-voltage areas.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ADSE developed the product ChargeTrailer, a powerful mobile ultra-high-power charging system in the form of a truck trailer. The product resulting from the development performance has a much higher charging power compared to conventional products of this type and is also future-proof due to the variable current and voltage ranges. ADSE has not capitalized development costs as the product was specifically designed for one customer.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In addition, ADSE has capitalized development costs regarding the self-developed technology for ultra-high charging in its CPT. The product is a battery-buffered ultra-fast charging station and is able to offer ultra-high charging capacity even if the power grid does not provide the desired power. CPT enables off-grid charging and takes ultra-fast charging to a higher level.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ADSE continues to pursue the consistent development of products in the field of highly efficient battery storage solutions and ultra-high power rapid charging systems. ADSE aims to be a pioneer in its business field through the research and development activities. The costs for the development of specific products will be capitalized when the criteria for the recognition as an intangible asset are fulfilled.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The estimated useful lives for current and comparative periods are as follows:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; white-space: nowrap; font-weight: bold; text-align: center">Useful life <br/> in years</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 88%; padding-bottom: 1.5pt">Software</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: center">3</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">ChargeBox (CBX)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: center">7</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">ChargePost (CPT)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: center">7</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
CY2022	ifrs-full	Disclosure Of Detailed Information About Intangible Assets Explanatory DisclosureOfDetailedInformationAboutIntangibleAssetsExplanatory	<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; white-space: nowrap; font-weight: bold; text-align: center">Useful life <br/> in years</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 88%; padding-bottom: 1.5pt">Software</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: center">3</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">ChargeBox (CBX)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: center">7</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">ChargePost (CPT)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: center">7</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
CY2022	ifrs-full	Useful Life Measured As Period Of Time Property Plant And Equipment UsefulLifeMeasuredAsPeriodOfTimePropertyPlantAndEquipment	P7Y
CY2022	ifrs-full	Disclosure Of Lease Prepayments Explanatory DisclosureOfLeasePrepaymentsExplanatory	<table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.4</td><td>Leases</td></tr></table><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ADSE as a lessee</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">At inception of a contract, ADSE assesses whether a contract is, or contains, a lease. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ADSE recognizes a right-of-use asset and a lease liability at the lease commencement date. None of the leasing contracts started before the date of transition. The right-of-use asset is initially measured at cost, which comprises the initial amount of the lease liability adjusted for any lease payments made at or before the commencement date, plus, if applicable, any initial direct costs incurred and an estimate of costs to dismantle and remove the underlying asset or to restore the underlying asset or the site on which it is located, less any lease incentives received.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The right-of-use asset is subsequently depreciated using the straight-line method from the commencement date to the end of the lease term unless the lease transfers ownership of the underlying asset to ADSE by the end of the lease term or the cost of the right-of-use asset reflects that ADSE will exercise a purchase option. In that case the right-of-use asset will be depreciated over the useful life of the underlying asset, which is determined on the same basis as those of property and equipment. In addition, the right-of-use asset is periodically reduced by impairment losses, if any, and adjusted for certain remeasurements of the lease liability.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, ADSE’s incremental borrowing rate.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ADSE determines its incremental borrowing rate by obtaining interest rates from external financing sources and makes certain adjustments to reflect the terms of the lease and type of the asset leased.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Lease payments included in the measurement of the lease liability comprise the following:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">fixed payments, including in-substance fixed payments;</td></tr><tr style="vertical-align: top"> <td> </td><td> </td><td style="text-align: justify"> </td></tr> </table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">variable lease payments that depend on an index or a rate, initially measured using the index or rate as at the commencement date;</td></tr><tr style="vertical-align: top"> <td> </td><td> </td><td style="text-align: justify"> </td></tr> </table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">amounts expected to be payable under a residual value guarantee; and</td></tr><tr style="vertical-align: top"> <td> </td><td> </td><td style="text-align: justify"> </td></tr> </table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 17.85pt"/><td style="width: 17.85pt">●</td><td style="text-align: justify">the exercise price under a purchase option that ADSE is reasonably certain to exercise, lease payments in an optional renewal period if ADSE Energy is reasonably certain to exercise an extension option, and penalties for early termination of a lease unless ADSE is reasonably certain not to terminate early.</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The lease liability is measured at amortized cost using the effective interest method. It is remeasured when there is a change in future lease payments arising from a change in an index or rate, if there is a change in ADSE’s estimate of the amount expected to be payable under a residual value guarantee, if ADSE changes its assessment of whether it will exercise a purchase, extension, or termination option or if there is a revised in-substance fixed lease payment.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">When the lease liability is remeasured in this way, a corresponding adjustment is made to the carrying amount of the right-of-use asset or is recorded in profit or loss if the carrying amount of the right-of-use asset has been reduced to zero.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ADSE has elected not to recognize right-of-use assets and lease liabilities for leases of low-value assets and short-term leases. ADSE recognizes the lease payments associated with these leases as an expense on a straight-line basis over the lease term.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The estimated useful lives of right-of-use assets for property and vehicles for current and comparative periods are as follows:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b> </b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b> </b></p></td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 1.5pt solid; white-space: nowrap; font-weight: bold; text-align: center">Useful life <br/> in years</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 50%; text-align: left">Property (Right-of-use assets)</td><td style="width: 1%"> </td> <td style="width: 9%; text-align: center">1-10</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Vehicles (Right-of-use assets)</td><td> </td> <td style="text-align: center">1-4</td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
CY2022	ifrs-full	Disclosure Of Detailed Information About Property Plant And Equipment Explanatory DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory	<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b> </b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b> </b></p></td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 1.5pt solid; white-space: nowrap; font-weight: bold; text-align: center">Useful life <br/> in years</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 50%; text-align: left">Property (Right-of-use assets)</td><td style="width: 1%"> </td> <td style="width: 9%; text-align: center">1-10</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Vehicles (Right-of-use assets)</td><td> </td> <td style="text-align: center">1-4</td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; white-space: nowrap; font-weight: bold; text-align: center">Useful life <br/> in years</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 88%">Vehicles</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: center">6</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Other equipment, operating and office equipment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: center"><span style="font-size: 10pt">3-14</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Technical equipment and machinery</td><td> </td> <td style="text-align: left"> </td><td style="text-align: center">20</td><td style="text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
CY2022	ifrs-full	Description Of Accounting Policy For Property Plant And Equipment Explanatory DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory	<table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.5</td><td>Property, plant, and equipment</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Items of property, plant, and equipment are measured at cost less accumulated depreciation and any accumulated impairment losses.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If significant parts of an item of property, plant and equipment have different useful lives, then they are accounted for as separate items (major components) of property, plant, and equipment.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Any gain or loss on disposal of an item of property, plant and equipment is recognized in profit or loss.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Subsequent expenditure is capitalized only if it is probable that the future economic benefits associated with the expenditure will flow to ADSE. All other expenditure for property, plant and equipment is recognized immediately as an expense.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Depreciation is calculated to write off the cost of items of property, plant, and equipment less their estimated residual values using the straight-line method over their estimated useful lives and is generally recognized in profit or loss.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The estimated useful lives of property, plant, and equipment for current and comparative periods are as follows:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; white-space: nowrap; font-weight: bold; text-align: center">Useful life <br/> in years</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 88%">Vehicles</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: center">6</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Other equipment, operating and office equipment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: center"><span style="font-size: 10pt">3-14</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Technical equipment and machinery</td><td> </td> <td style="text-align: left"> </td><td style="text-align: center">20</td><td style="text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Depreciation methods, useful lives and residual values are reviewed at each reporting date and adjusted if appropriate.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Property, plant, and equipment is derecognized upon disposal or when no future economic benefits are expected from the continued use of the asset. The gain or loss arising from the sale or retirement of a property, plant and equipment is determined as the difference between the proceeds from the sale and the carrying amount of the asset and is recognized in profit or loss under the other income or other expenses.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34pt; text-indent: -34pt"> </p>
CY2022	ifrs-full	Description Of Accounting Policy For Measuring Inventories DescriptionOfAccountingPolicyForMeasuringInventories	<table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.6</td><td>Inventories</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Inventories are measured at the lower of cost and net realizable value. The cost of inventories is based on the weighted average cost principle. In the case of manufactured inventories, cost includes an appropriate share of production overheads based on normal operating capacity.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The subsequent valuation of cost of raw materials and supplies, work in progress and finished goods within ADSE is assigned using the weighted average cost method. In order to ensure an appropriate measurement of inventories, ADSE performs a continuous evaluation of the lifecycle of inventories, i.e. whether inventories have not been sold or used for a long period of time and are not be expected to be sold in the future. For the determination of the net realizable value of inventories, we determine a write-off percentage based on historical and forecasted usage and sales. Based on our continuous observation of inventory trends, a write-off for obsolete inventory is applied.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34pt; text-indent: -34pt"> </p>
CY2022	ifrs-full	Explanation Of Significant Changes In Contract Assets And Contract Liabilities Explanatory ExplanationOfSignificantChangesInContractAssetsAndContractLiabilitiesExplanatory	<table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.7</td><td>Contract assets and contract liabilities</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A contract asset represents the right to compensation in return for goods or development services that ADSE has transferred to a customer. In addition, this right depends on something other than the expiry of a certain period. If the right to remuneration is unconditional, a receivable is recognized. A contract asset occurs, for example, if ADSE has already incurred an expense for development for a customer within the development and production of goods, but the customer's payment plan has not yet covered this expense.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The contract balance may change during the contract term between contract asset and contract liability depending on whether ADSE or the customer is behind with performance.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Due to the fact that ADSE develops and produces goods for its customers it is possible that either a contract asset, a receivable or a contract liability arises, depending on whether ADSE has an obligation to provide services to a customer for which it has already received payments or for which payment is due or vice versa. A contractual liability represents the obligation to provide development and production of goods to a customer for which ADSE has already received remuneration or for which payment is due according to the agreed payment plan. Also included in contract liabilities are performance obligations regarding extended warranties.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34pt; text-indent: -34pt"> </p>
CY2022	ifrs-full	Description Of Accounting Policy For Restricted Cash And Cash Equivalents Explanatory DescriptionOfAccountingPolicyForRestrictedCashAndCashEquivalentsExplanatory	<table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.8</td><td>Cash and cash equivalents</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Cash and bank balances in the statement of financial position comprises cash on hand and cash at banks including restricted cash.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
CY2022	ifrs-full	Disclosure Of Financial Instruments Explanatory DisclosureOfFinancialInstrumentsExplanatory	<table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.9</td><td>Financial instruments</td></tr></table><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34pt; text-indent: -34pt"> </p><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.9.1</td><td>Financial assets</td></tr></table><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Recognition and initial measurement</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Trade receivables are initially recognized when they are originated. Financial assets and financial liabilities are initially recognized when ADSE becomes a party to the contractual provisions of the instrument.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A financial asset (unless it is a trade receivable without a significant financing component) or financial liability is initially measured at fair value plus or minus, for an item not at fair value through profit or loss (FVTPL), transaction costs that are directly attributable to its acquisition or issue. A trade receivable without a significant financing component is initially measured at the transaction price.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Classification, subsequent measurement, impairment and derecognition</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On initial recognition, a financial asset is classified as measured at: amortized cost (FAAC); at fair value through other comprehensive income (FVOCI – debt investment or FVOCI – equity investment); or at fair value through profit or loss (FVTPL).</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Financial assets are not reclassified subsequent to their initial recognition unless ADSE changes its business model for managing financial assets, in which case all affected financial assets are reclassified on the first day of the first reporting period following the change in the business model.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Financial assets at amortized cost are subsequently measured using the effective interest rate method. The amortized cost is reduced by impairment losses. Interest income, foreign exchange gains and losses and impairment are recognized in profit or loss. Any gain or loss on derecognition is recognized in profit or loss.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ADSE derecognizes a financial asset when the contractual rights to the cash flows from the financial asset expire, or it transfers the rights to receive the contractual cash flows in a transaction in which substantially all of the risks and rewards of ownership of the financial asset are transferred or in which ADSE neither transfers nor retains substantially all of the risks and rewards of ownership and it does not retain control of the financial asset.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ADSE recognizes loss allowances for expected credit losses (ECLs) on:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">financial assets measured at amortized cost, and</td></tr><tr style="vertical-align: top"> <td> </td><td> </td><td style="text-align: justify"> </td></tr> </table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 17.85pt"/><td style="width: 17.85pt">●</td><td style="text-align: justify">contract assets.</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ADSE measures loss allowances at an amount equal to lifetime ECLs (simplified approach).</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">When determining whether the credit risk of a financial asset has increased significantly since initial recognition and when estimating ECLs, ADSE considers reasonable and supportable information that is relevant and available without undue cost or effort, this includes both quantitative and qualitative information and analysis.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Impairment losses for financial assets measured at amortized cost are recognized in an impairment account (loss allowance). Loss allowances are deducted from the gross carrying amount of the assets. Changes in the carrying amount of the loss allowance are recognized in profit or loss.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34pt; text-indent: -34pt"> </p><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.9.2</td><td>Financial liabilities</td></tr></table><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Recognition and initial measurement</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Financial liabilities not at fair value through profit or loss (FVTPL) are initially measured at fair value plus or minus transaction costs that are directly attributable to its acquisition or issue.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Classification, subsequent measurement, and derecognition</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Financial liabilities are classified as measured at amortized cost (FLAC) or FVTPL. A financial liability is classified as at FVTPL if it is classified as held-for-trading, it is a derivative or it is designated as such on initial recognition. Financial liabilities at FVTPL are measured at fair value and net gains and losses, including any interest expense, are recognized in profit or loss. They are subsequently measured at amortized cost using the effective interest method. Interest expense and foreign exchange gains and losses are recognized in profit or loss. Any gain or loss on derecognition is also recognized in profit or loss.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ADSE derecognizes a financial liability when its contractual obligations are discharged or cancelled or expire. ADSE also derecognizes a financial liability when its terms are modified and the cash flows of the modified liability are substantially different, in which case a new financial liability based on the modified terms is recognized at fair value.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Financial assets and financial liabilities are offset, and the net amount presented in the statement of financial position when, and only when, ADSE currently has a legally enforceable right to set off the amounts and it intends either to settle them on a net basis or to realize the asset and settle the liability simultaneously.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34pt; text-indent: -34pt"> </p>
CY2022	ifrs-full	Description Of Accounting Policy For Taxes Other Than Income Tax Explanatory DescriptionOfAccountingPolicyForTaxesOtherThanIncomeTaxExplanatory	<table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.10</td><td>Taxes</td></tr></table><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34pt; text-indent: -34pt"> </p><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.10.1</td><td>Income taxes</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Income taxes are comprised of current and deferred tax based on the appropriate tax rates. Current and deferred taxes are recognized in profit or loss except to the extent that they directly relate to items recorded in equity or other comprehensive income. Income tax receivables and payables recorded comprise the status of amounts to be received, respectively to be paid in the future</span>.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34pt; text-indent: -34pt"> </p><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.10.2</td><td>Current tax</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Current tax comprises the expected tax payables or receivables on the taxable income for the year and any adjustment to the tax payables or receivables in respect of previous years. The amount of current tax payables or receivables is the best estimate of the tax amount expected to be paid or received that reflects uncertainty related to income taxes, if any. It is measured using tax rates enacted or substantively enacted at the reporting date in the countries where the Company and its subsidiaries operate and generate taxable income. During the ordinary course of the business, there are transactions and calculations for which the ultimate tax determination is uncertain. Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation and considers whether it is probable that a taxation authority will accept an uncertain tax treatment. This assessment relies on estimated and assumptions and may involve a series of complex judgments about future events. To the extent that the final tax outcome of these matters is different that the amounts recorded, such differences will impact income tax expense in the period in which such determination is made.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Current tax assets and liabilities are offset only if certain criteria are met.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34pt; text-indent: -34pt"> </p><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.10.3</td><td>Deferred taxes</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Deferred taxes are recognized in respect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Deferred taxes are not recognized for:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">temporary differences on the initial recognition of assets or liabilities in a transaction that is not a business combination and that affects neither accounting nor taxable profit or loss;</td></tr><tr style="vertical-align: top"> <td> </td><td> </td><td style="text-align: justify"> </td></tr> </table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 17.85pt"/><td style="width: 17.85pt">●</td><td style="text-align: justify">temporary differences related to investments in subsidiaries, associates, and joint arrangements to the extent that the entity is able to control the timing of the reversal of the temporary differences and it is probable that they will not reverse in the foreseeable future.</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Deferred tax assets are recognized for unused tax losses and deductible temporary differences to the extent that it is probable that future taxable profits will be available against which they can be utilized. Future taxable profits are determined based on the reversal of relevant taxable temporary differences. If the amount of taxable temporary differences is insufficient to recognize a deferred tax asset in full, future taxable profits are considered, based on the business plans the entity.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Deferred tax assets are reviewed at each reporting date and are reduced if it is no longer probable that the related tax benefit will be realized. Unrecognized deferred tax assets are reassessed at each reporting date and recognized to the extent that it has become probable that future taxable profits will be available against which they can be utilized.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Deferred taxes are measured at the tax rates that are expected to be applied to temporary differences when they reverse, using tax rates enacted or substantively enacted at the reporting date, and reflects uncertainty related to income taxes, if any.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Deferred tax assets and liabilities are offset if certain criteria are met.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34pt; text-indent: -34pt"> </p>
CY2022	ifrs-full	Disclosure Of Sharebased Payment Arrangements Explanatory DisclosureOfSharebasedPaymentArrangementsExplanatory	<table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.11</td><td>Share-based payments</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ADSE’s management, members of the board of directors, employees and others providing similar services to ADSE receive remuneration in the form of share-based payments, which are equity-settled transactions. ADSE’s equity-settled option plans are described in detail in note 4.3 and include restricted stock units (RSU) and non-qualified stock options (NQSO).</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The costs of equity-settled transactions are determined by the fair value at grant date, using an appropriate valuation model. Share-based expenses for the respective vesting periods are recognized in general and administrative expenses, reflecting a corresponding increase in equity.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34pt; text-indent: -34pt"> </p>
CY2022	ifrs-full	Disclosure Of Provisions Explanatory DisclosureOfProvisionsExplanatory	<table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.12</td><td>Provisions</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A provision is a liability of uncertain timing or amount. Provisions are recognized if ADSE has a present obligation to a third party based on a past event, an outflow of resources to settle the obligation is probable and the amount of the obligation can be reliably estimated. Provisions are discounted if the effect is material.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Provisions where the outflow of resources is likely to occur within the next year are classified as current, and all other provisions as non-current.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the liability. The unwinding of the discount is recognized as finance cost.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A provision for warranties is recognized when the underlying products or services are sold, based on historical warranty data and a weighting of possible outcomes against their associated probabilities.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34pt; text-indent: -34pt"> </p>
CY2022	ifrs-full	Description Of Accounting Policy For Impairment Of Nonfinancial Assets Explanatory DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory	<table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.13</td><td>Impairment of non-financial assets</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">At each reporting date, ADSE reviews the carrying amounts of its non-financial assets (other than inventories, contract assets and deferred tax assets) to determine whether there is any indication of impairment. If any such indication exists, then the asset’s recoverable amount is estimated.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For impairment testing, assets are grouped together into the smallest group of assets that generates cash inflows from continuing use that are largely independent of the cash inflows of other assets or cash generating units (CGU).</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Typically, the CGUs are represented by the segments and the impairment test is performed at the level of this CGU. ADSE manages its operations based on two operating segments which also form the CGUs of the Company.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The recoverable amount of an asset or CGU is the greater of its value in use and its fair value less costs to sell. Value in use is based on the estimated future cash flows, discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset or CGU.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">An impairment loss is recognized if the carrying amount of an asset or CGU exceeds its recoverable amount.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Impairment losses are recognized in profit or loss. They are allocated first to reduce the carrying amount of any goodwill allocated to the CGU, and then to reduce the carrying amounts of the other assets in the CGU on a pro rata basis.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">An impairment loss in respect of goodwill is not reversed. For other assets, an impairment loss is reversed only to the extent that the asset’s carrying amount does not exceed the carrying amount that would have been determined, net of depreciation or amortization, if no impairment loss had been recognized.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Impairments and any triggering events did not occur in the reporting period.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34pt; text-indent: -34pt"> </p>
CY2022	ifrs-full	Description Of Accounting Policy For Foreign Currency Translation Explanatory DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory	<table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.14</td><td>Foreign currency transactions</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The consolidated financial statements are presented in Euro, which is the functional and presentation currency of ADSE Holdco. Assets and liabilities of foreign operations are translated into Euro at the rate of exchange prevailing at the reporting date. The consolidated statement of comprehensive income is translated at average exchange rates. The currency translation differences are recognized in other comprehensive income or loss. Transactions in foreign currencies are initially recorded by ADSE‘s entities at their respective functional currency spot rates, at the date the transaction first qualifies for recognition. ADSE used the following exchange rates to convert the financial statements of ADSE US:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31, 2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Spot rate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Average<br/> rate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left; padding-left: 2.85pt">Euro per U.S. Dollar</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1.0666</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1.0530</td><td style="width: 1%; text-align: left"> </td></tr> </table><p style="margin: 0"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31, 2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Spot rate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Average<br/> rate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Euro per U.S. Dollar</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1.1326</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1.1827</td><td style="width: 1%; text-align: left"> </td></tr> </table><p style="margin: 0"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 22, 2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Spot rate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Average <br/> rate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Euro per U.S. Dollar</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1.1301</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-104">-</div></td><td style="width: 1%; text-align: left"> </td></tr> </table><p style="margin: 0"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Sep. 15 - Dec. 31, 2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Spot rate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Average<br/> rate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Euro per U.S. Dollar</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-105">-</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1.1478</td><td style="width: 1%; text-align: left"> </td></tr> </table><p style="margin: 0"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Dec. 23-31, 2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Spot rate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Average<br/> rate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Euro per U.S. Dollar</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-106">-</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1.1319</td><td style="width: 1%; text-align: left"> </td></tr> </table><p style="margin: 0"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Nov. 1 - Dec. 31, 2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Spot rate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Average<br/> rate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Euro per U.S. Dollar</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-107">-</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1.1358</td><td style="width: 1%; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Spot rate as of December 31, 2022, is used to translate the balance sheet of ADSE US.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Average rate September 15, - December 31, 2021, which corresponds to the incorporation period, is used to translate the expenses incurred by ADSE US.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Spot rate as of December 22, 2021, is used to translate the balance sheet of EUSG (USA) on the date of the merger with ADSE Holdco.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Average rate November 1 – December 31, 2021, is used to translate the USD expenses incurred by EUSG in the corresponding period.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Average rate December 23 - 31, 2021, is used to convert the USD expenses incurred by the Company in the corresponding period.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34pt; text-indent: -34pt"> </p>
CY2022	ifrs-full	Disclosure Of Effect Of Changes In Foreign Exchange Rates Explanatory DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory	<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31, 2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Spot rate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Average<br/> rate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left; padding-left: 2.85pt">Euro per U.S. Dollar</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1.0666</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1.0530</td><td style="width: 1%; text-align: left"> </td></tr> </table><p style="margin: 0"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31, 2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Spot rate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Average<br/> rate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Euro per U.S. Dollar</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1.1326</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1.1827</td><td style="width: 1%; text-align: left"> </td></tr> </table><p style="margin: 0"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 22, 2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Spot rate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Average <br/> rate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Euro per U.S. Dollar</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1.1301</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-104">-</div></td><td style="width: 1%; text-align: left"> </td></tr> </table><p style="margin: 0"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Sep. 15 - Dec. 31, 2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Spot rate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Average<br/> rate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Euro per U.S. Dollar</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-105">-</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1.1478</td><td style="width: 1%; text-align: left"> </td></tr> </table><p style="margin: 0"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Dec. 23-31, 2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Spot rate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Average<br/> rate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Euro per U.S. Dollar</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-106">-</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1.1319</td><td style="width: 1%; text-align: left"> </td></tr> </table><p style="margin: 0"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Nov. 1 - Dec. 31, 2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Spot rate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Average<br/> rate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Euro per U.S. Dollar</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-107">-</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1.1358</td><td style="width: 1%; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
CY2022	adse	Spot Rate SpotRate	1.0666	pure
CY2022	ifrs-full	Average Foreign Exchange Rate AverageForeignExchangeRate	1.053	pure
CY2021	adse	Spot Rate SpotRate	1.1326	pure
CY2021	ifrs-full	Average Foreign Exchange Rate AverageForeignExchangeRate	1.1827	pure
	adse	Spot Rate SpotRate	1.1301	pure
	ifrs-full	Average Foreign Exchange Rate AverageForeignExchangeRate	1.1478	pure
CY2021Q4	ifrs-full	Average Foreign Exchange Rate AverageForeignExchangeRate	1.1319	pure
CY2021Q4	ifrs-full	Average Foreign Exchange Rate AverageForeignExchangeRate	1.1358	pure
CY2022	ifrs-full	Disclosure Of Earnings Per Share Explanatory DisclosureOfEarningsPerShareExplanatory	<table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.15</td><td>Earnings per share</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Basic earnings per share (EPS) is calculated by dividing the profit for the year attributable to ordinary equity holders of the ADSE Holdco by the weighted average number of ordinary shares outstanding during the reporting period.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Restricted stock units and non-qualified stock options have been included in the calculation of diluted weighted average number of shares outstanding. These restricted stock units and non-qualified stock options could potentially dilute basic earnings per share in the future.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Also refer to section 4.1.8 for further information on the calculation of basic and diluted earnings per share.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34pt; text-indent: -34pt"> </p>
CY2022	ifrs-full	Disclosure Of Fair Value Measurement Explanatory DisclosureOfFairValueMeasurementExplanatory	<table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.16</td><td>Fair value measurement</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value measurement is based on the presumption that the transaction to sell the asset or transfer the liability takes place either:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">in the principal market for the asset or liability; or</td></tr><tr style="vertical-align: top"> <td> </td><td> </td><td style="text-align: justify"> </td></tr> </table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 17.85pt"/><td style="width: 17.85pt">●</td><td style="text-align: justify">in the absence of a principal market, in the most advantageous market for the asset or liability</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The principal or the most advantageous market must be accessible by ADSE. The fair value of a liability reflects its non-performance risk.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The fair value of an asset or a liability is measured using the assumptions that market participants would use when pricing the asset or liability, assuming that market participants act in their economic best interest.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A fair value measurement of a non-financial asset considers a market participant's ability to generate economic benefits by using the asset in its highest and best use or by selling it to another market participant that would use the asset in its highest and best use.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ADSE uses valuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure fair value, maximizing the use of relevant observable inputs and minimizing the use of unobservable inputs.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorized within the fair value hierarchy, described as follows, based on the lowest level input that is significant to the fair value measurement as a whole:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">Level 1 - Quoted (unadjusted) market prices in active markets for identical assets or liabilities,</td></tr><tr style="vertical-align: top"> <td> </td><td> </td><td style="text-align: justify"> </td></tr> </table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">Level 2 - Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indirectly observable, and</td></tr><tr style="vertical-align: top"> <td> </td><td> </td><td style="text-align: justify"> </td></tr> </table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 17.85pt"/><td style="width: 17.85pt">●</td><td style="text-align: justify">Level 3 - Valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable.</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For assets and liabilities that are recognized in the financial statements at fair value on a recurring basis, ADSE determines whether transfers have occurred between levels in the hierarchy by re-assessing categorization (based on the lowest level input that is significant to the fair value measurement as a whole) at the end of each reporting period.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For the purpose of fair value disclosures, ADSE has determined classes of assets and liabilities on the basis of the nature, characteristics and risks of the asset or liability and the level of the fair value hierarchy, as explained above.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34pt; text-indent: -34pt"> </p>
CY2022	ifrs-full	Disclosure Of Government Grants Explanatory DisclosureOfGovernmentGrantsExplanatory	<table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.17</td><td>Government grants</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Government grants related to assets are deducted from the carrying amount of the asset and are recognized in earnings over the life of a depreciable asset as a reduced depreciation expense. Government grants which compensate ADSE for expenses are recognized as other operating income in the same period as the expenses themselves.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34pt; text-indent: -34pt"> </p>
CY2022	ifrs-full	Disclosure Of Reclassifications Or Changes In Presentation Explanatory DisclosureOfReclassificationsOrChangesInPresentationExplanatory	<table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.18</td><td>Reclassifications</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Certain prior period amounts have been reclassified to conform to current year financial statement presentation. These reclassifications had no effect on reported income (loss), comprehensive income (loss), cash flows, or shareholders’ equity as previously reported.</p>
CY2022	adse	Revenues Generated RevenuesGenerated	0.739	pure
CY2021	adse	Percentage Of Geographical Region PercentageOfGeographicalRegion	0.721	pure
CY2020	adse	Percentage Of Geographical Region PercentageOfGeographicalRegion	0.992	pure
CY2022	ifrs-full	Disclosure Of Operating Segments Explanatory DisclosureOfOperatingSegmentsExplanatory	<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"><b>Revenue by region</b></td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>kEUR</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"/></td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">2020</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%">Germany</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">19,538</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">23,809</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">46,979</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td>Switzerland</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,628</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,186</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">222</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Ireland</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,223</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,944</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td>Spain</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,071</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,371</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">17</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Netherlands</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">872</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">491</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td>Austria</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">750</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">United States of America</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">731</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">29</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt; text-align: left">Other European countries</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,367</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,482</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">118</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt; font-weight: bold">Total</td><td style="padding-bottom: 4pt; font-weight: bold"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">26,430</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 4pt; font-weight: bold"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">33,035</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 4pt; font-weight: bold"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">47,370</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
CY2022	ifrs-full	Other Revenue OtherRevenue	26430000	eur
CY2021	ifrs-full	Other Revenue OtherRevenue	33035000	eur
CY2020	ifrs-full	Other Revenue OtherRevenue	47370000	eur
CY2022	ifrs-full	Disclosure Of Financial Liabilities Explanatory DisclosureOfFinancialLiabilitiesExplanatory	<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-align: left"><b>Major products</b></td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"/><p style="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><b>kEUR</b></p></td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2021</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2020</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%">Charging</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">19,506</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">23,721</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">40,514</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Commercial and industrial</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,463</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,334</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,472</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Service</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,774</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,235</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,231</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td>Residential</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">287</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">479</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">153</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Other</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">400</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">267</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-108">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 4pt; font-weight: bold">Total</td><td style="padding-bottom: 4pt; font-weight: bold"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">26,430</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 4pt; font-weight: bold"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">33,035</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 4pt; font-weight: bold"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">47,370</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
CY2022	ifrs-full	Revenue From Contracts With Customers RevenueFromContractsWithCustomers	26430000	eur
CY2021	ifrs-full	Revenue From Contracts With Customers RevenueFromContractsWithCustomers	33035000	eur
CY2020	ifrs-full	Revenue From Contracts With Customers RevenueFromContractsWithCustomers	47370000	eur
CY2022Q4	ifrs-full	Current Receivables From Contracts With Customers CurrentReceivablesFromContractsWithCustomers	13897000	eur
CY2021Q4	ifrs-full	Current Receivables From Contracts With Customers CurrentReceivablesFromContractsWithCustomers	7424000	eur
CY2022Q4	ifrs-full	Contract Assets ContractAssets	6000	eur
CY2021Q4	ifrs-full	Contract Assets ContractAssets	973000	eur
CY2022Q4	ifrs-full	Contract Liabilities ContractLiabilities	23721000	eur
CY2021Q4	ifrs-full	Contract Liabilities ContractLiabilities	6340000	eur
CY2022	ifrs-full	Disclosure Of Credit Risk Exposure Explanatory DisclosureOfCreditRiskExposureExplanatory	<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>kEUR</b></p></td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Dec. 31,<br/> 2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Dec. 31,<br/> 2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; font-weight: bold; text-align: left">Contract liabilities</td><td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 9%; font-weight: bold; text-align: right">23,721</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 9%; font-weight: bold; text-align: right">6,340</td><td style="width: 1%; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Revenue recognized that was included in the contract liability balance at the beginning of the period</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">465</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,616</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Increases due to cash received, excluding amounts recognized at the beginning of the period</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">17,846</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">224</td><td style="text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
CY2022	ifrs-full	Raw Materials And Consumables Used RawMaterialsAndConsumablesUsed	23554000	eur
CY2021	ifrs-full	Raw Materials And Consumables Used RawMaterialsAndConsumablesUsed	26433000	eur
CY2020	ifrs-full	Raw Materials And Consumables Used RawMaterialsAndConsumablesUsed	38100000	eur
CY2022	ifrs-full	Employee Benefits Expense EmployeeBenefitsExpense	3388000	eur
CY2021	ifrs-full	Employee Benefits Expense EmployeeBenefitsExpense	3097000	eur
CY2020	ifrs-full	Employee Benefits Expense EmployeeBenefitsExpense	2819000	eur
CY2022	ifrs-full	Depreciation And Amortisation Expense DepreciationAndAmortisationExpense	3517000	eur
CY2021	ifrs-full	Depreciation And Amortisation Expense DepreciationAndAmortisationExpense	3103000	eur
CY2020	ifrs-full	Depreciation And Amortisation Expense DepreciationAndAmortisationExpense	1515000	eur
CY2022	ifrs-full	Other Expense By Nature OtherExpenseByNature	445000	eur
CY2021	ifrs-full	Other Expense By Nature OtherExpenseByNature	2677000	eur
CY2020	ifrs-full	Other Expense By Nature OtherExpenseByNature	3114000	eur
CY2022	ifrs-full	Other Gains Losses OtherGainsLosses	30904000	eur
CY2021	ifrs-full	Other Gains Losses OtherGainsLosses	35310000	eur
CY2020	ifrs-full	Other Gains Losses OtherGainsLosses	45548000	eur
CY2022	ifrs-full	Disclosure Of General And Administrative Expense Explanatory DisclosureOfGeneralAndAdministrativeExpenseExplanatory	<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>kEUR</b></p></td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2020</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Legal and consulting fees</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">3,779</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">4,450</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">767</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Personnel expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">14,359</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,911</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,927</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Administration fee</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,412</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,963</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,474</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Marketing costs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,925</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">476</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">133</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Depreciation and amortization</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">631</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">227</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">44</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Insurance expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,365</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">26</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">27</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt; text-align: left">Other expenses</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">4,847</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,268</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,198</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 4pt; font-weight: bold">Total</td><td style="padding-bottom: 4pt; font-weight: bold"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">31,319</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 4pt; font-weight: bold"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">13,321</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 4pt; font-weight: bold"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">7,570</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
CY2022	ifrs-full	Benefits Paid Or Payable BenefitsPaidOrPayable	3779000	eur
CY2021	ifrs-full	Benefits Paid Or Payable BenefitsPaidOrPayable	4450000	eur
CY2020	ifrs-full	Benefits Paid Or Payable BenefitsPaidOrPayable	767000	eur
CY2022	ifrs-full	Other Employee Expense OtherEmployeeExpense	14359000	eur
CY2021	ifrs-full	Other Employee Expense OtherEmployeeExpense	3911000	eur
CY2020	ifrs-full	Other Employee Expense OtherEmployeeExpense	2927000	eur
CY2022	ifrs-full	Professional Fees Expense ProfessionalFeesExpense	3412000	eur
CY2021	ifrs-full	Professional Fees Expense ProfessionalFeesExpense	2963000	eur
CY2020	ifrs-full	Professional Fees Expense ProfessionalFeesExpense	2474000	eur
CY2022	ifrs-full	Sales And Marketing Expense SalesAndMarketingExpense	1925000	eur
CY2021	ifrs-full	Sales And Marketing Expense SalesAndMarketingExpense	476000	eur
CY2020	ifrs-full	Sales And Marketing Expense SalesAndMarketingExpense	133000	eur
CY2022	adse	Depreciation And Amortizations DepreciationAndAmortizations	631000	eur
CY2021	adse	Depreciation And Amortizations DepreciationAndAmortizations	227000	eur
CY2020	adse	Depreciation And Amortizations DepreciationAndAmortizations	44000	eur
CY2022	ifrs-full	Insurance Finance Income Expenses InsuranceFinanceIncomeExpenses	2365000	eur
CY2021	ifrs-full	Insurance Finance Income Expenses InsuranceFinanceIncomeExpenses	26000	eur
CY2020	ifrs-full	Insurance Finance Income Expenses InsuranceFinanceIncomeExpenses	27000	eur
CY2022	adse	Other Expenses1 OtherExpenses1	4847000	eur
CY2021	adse	Other Expenses1 OtherExpenses1	1268000	eur
CY2020	adse	Other Expenses1 OtherExpenses1	1198000	eur
CY2022	ifrs-full	Consideration Paid Received ConsiderationPaidReceived	31319000	eur
CY2021	ifrs-full	Consideration Paid Received ConsiderationPaidReceived	13321000	eur
CY2020	ifrs-full	Consideration Paid Received ConsiderationPaidReceived	7570000	eur
CY2022	ifrs-full	Research And Development Expense ResearchAndDevelopmentExpense	1701000	eur
CY2021	ifrs-full	Research And Development Expense ResearchAndDevelopmentExpense	2012000	eur
CY2020	ifrs-full	Research And Development Expense ResearchAndDevelopmentExpense	749000	eur
CY2022	adse	Capitalized Development Cost CapitalizedDevelopmentCost	7406000	eur
CY2021	adse	Capitalized Development Cost CapitalizedDevelopmentCost	3904000	eur
CY2020	adse	Capitalized Development Cost CapitalizedDevelopmentCost	5470000	eur
CY2022	adse	Amortization Development Cost AmortizationDevelopmentCost	2458000	eur
CY2021	adse	Amortization Development Cost AmortizationDevelopmentCost	2249000	eur
CY2020	adse	Amortization Development Cost AmortizationDevelopmentCost	647000	eur
CY2021	adse	Other Operating Cost Refunds OtherOperatingCostRefunds	174000	eur
CY2020	adse	Other Operating Cost Refunds OtherOperatingCostRefunds	119000	eur
CY2022	adse	Other Operating Cost Refunds OtherOperatingCostRefunds	492000	eur
CY2022Q4	ifrs-full	Government Grants GovernmentGrants	4615000	usd
CY2021Q4	ifrs-full	Government Grants GovernmentGrants	4381000	eur
CY2020Q4	ifrs-full	Government Grants GovernmentGrants	4282000	eur
CY2022	adse	Government Grants Not Yet Paid GovernmentGrantsNotYetPaid	354000	eur
CY2021	adse	Government Grants Not Yet Paid GovernmentGrantsNotYetPaid	96000	eur
CY2020	adse	Government Grants Not Yet Paid GovernmentGrantsNotYetPaid	13000	eur
CY2020	ifrs-full	Key Management Personnel Compensation KeyManagementPersonnelCompensation	105000	eur
CY2022	adse	Other Operating Income Expenses OtherOperatingIncomeExpenses	1084000	eur
CY2021	adse	Other Operating Income Expenses OtherOperatingIncomeExpenses	5402000	eur
CY2020	adse	Other Operating Income Expenses OtherOperatingIncomeExpenses	2224000	eur
CY2022	adse	Other Operating Incomefrom Subsequent Payments OtherOperatingIncomefromSubsequentPayments	408000	eur
CY2021	adse	Other Operating Incomefrom Subsequent Payments OtherOperatingIncomefromSubsequentPayments	75000	eur
CY2020	adse	Other Operating Incomefrom Subsequent Payments OtherOperatingIncomefromSubsequentPayments	44000	eur
CY2020	adse	Other Operating Incomefrom Utilization Of Provisions OtherOperatingIncomefromUtilizationOfProvisions	58000	eur
CY2022	adse	Other Operating Income From Reversal Of Provisions OtherOperatingIncomeFromReversalOfProvisions	913000	eur
CY2021	adse	Other Operating Income From Reversal Of Provisions OtherOperatingIncomeFromReversalOfProvisions	1517000	eur
CY2020	adse	Other Operating Income From Reversal Of Provisions OtherOperatingIncomeFromReversalOfProvisions	233000	eur
CY2021	adse	Other Operating Cost Refunds OtherOperatingCostRefunds	174000	eur
CY2020	adse	Other Operating Cost Refunds OtherOperatingCostRefunds	119000	eur
CY2022	adse	Other Operating Incomefrom Compensation OtherOperatingIncomefromCompensation	1016000	eur
CY2021	adse	Other Operating Incomefrom Compensation OtherOperatingIncomefromCompensation	2537000	eur
CY2020	adse	Other Operating Incomefrom Compensation OtherOperatingIncomefromCompensation	61000	eur
CY2020	adse	Sales To Employees SalesToEmployees	17000	eur
CY2022	adse	Others Operating Income OthersOperatingIncome	47000	eur
CY2021	adse	Others Operating Income OthersOperatingIncome	233000	eur
CY2020	adse	Others Operating Income OthersOperatingIncome	8000	eur
CY2022	adse	Other Income Total OtherIncomeTotal	2383000	eur
CY2021	adse	Other Income Total OtherIncomeTotal	4538000	eur
CY2020	adse	Other Income Total OtherIncomeTotal	541000	eur
CY2021	adse	Warranties Warranties	5253000	eur
CY2020	adse	Warranties Warranties	1976000	eur
CY2022	ifrs-full	Expense Relating To Leases Of Lowvalue Assets For Which Recognition Exemption Has Been Used ExpenseRelatingToLeasesOfLowvalueAssetsForWhichRecognitionExemptionHasBeenUsed	1000	eur
CY2021	ifrs-full	Expense Relating To Leases Of Lowvalue Assets For Which Recognition Exemption Has Been Used ExpenseRelatingToLeasesOfLowvalueAssetsForWhichRecognitionExemptionHasBeenUsed	36000	eur
CY2020	ifrs-full	Expense Relating To Leases Of Lowvalue Assets For Which Recognition Exemption Has Been Used ExpenseRelatingToLeasesOfLowvalueAssetsForWhichRecognitionExemptionHasBeenUsed	70000	eur
CY2022	ifrs-full	Expense Relating To Variable Lease Payments Not Included In Measurement Of Lease Liabilities ExpenseRelatingToVariableLeasePaymentsNotIncludedInMeasurementOfLeaseLiabilities	11000	eur
CY2021	ifrs-full	Expense Relating To Variable Lease Payments Not Included In Measurement Of Lease Liabilities ExpenseRelatingToVariableLeasePaymentsNotIncludedInMeasurementOfLeaseLiabilities	5000	eur
CY2020	ifrs-full	Expense Relating To Variable Lease Payments Not Included In Measurement Of Lease Liabilities ExpenseRelatingToVariableLeasePaymentsNotIncludedInMeasurementOfLeaseLiabilities	27000	eur
CY2022	adse	Exchange Rate Losses ExchangeRateLosses	1007000	eur
CY2022	ifrs-full	Services Expense ServicesExpense	64000	eur
CY2021	ifrs-full	Services Expense ServicesExpense	66000	eur
CY2020	ifrs-full	Services Expense ServicesExpense	46000	eur
CY2021	ifrs-full	Key Management Personnel Compensation KeyManagementPersonnelCompensation	42000	eur
CY2022	adse	Finance Income From Remeasurement Of Warrant Liabilities FinanceIncomeFromRemeasurementOfWarrantLiabilities	10329000	eur
CY2022	ifrs-full	Net Foreign Exchange Gain NetForeignExchangeGain	9928000	eur
CY2022	ifrs-full	Revenue From Interest RevenueFromInterest	259000	eur
CY2021	ifrs-full	Revenue From Interest RevenueFromInterest	47000	eur
CY2022	ifrs-full	Other Finance Income OtherFinanceIncome	20515000	eur
CY2021	ifrs-full	Other Finance Income OtherFinanceIncome	47000	eur
CY2022	adse	Interest Expense From Bank Loans InterestExpenseFromBankLoans	-17000	eur
CY2021	adse	Interest Expense From Bank Loans InterestExpenseFromBankLoans	-296000	eur
CY2020	adse	Interest Expense From Bank Loans InterestExpenseFromBankLoans	-1621000	eur
CY2021	ifrs-full	Gains Losses On Exchange Differences On Translation Recognised In Profit Or Loss GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss	-264000	eur
CY2022	adse	Interest Expense From Related Party Loans InterestExpenseFromRelatedPartyLoans	-2000	eur
CY2021	adse	Interest Expense From Related Party Loans InterestExpenseFromRelatedPartyLoans	-1995000	eur
CY2020	adse	Interest Expense From Related Party Loans InterestExpenseFromRelatedPartyLoans	-261000	eur
CY2022	ifrs-full	Interest Expense On Lease Liabilities InterestExpenseOnLeaseLiabilities	122000	eur
CY2021	ifrs-full	Interest Expense On Lease Liabilities InterestExpenseOnLeaseLiabilities	89000	eur
CY2020	ifrs-full	Interest Expense On Lease Liabilities InterestExpenseOnLeaseLiabilities	78000	eur
CY2022	adse	Interest From Provisions InterestFromProvisions	246000	eur
CY2021	adse	Interest From Provisions InterestFromProvisions	177000	eur
CY2020	adse	Interest From Provisions InterestFromProvisions	37000	eur
CY2022	ifrs-full	Interest Expense On Other Financial Liabilities InterestExpenseOnOtherFinancialLiabilities	40000	eur
CY2021	ifrs-full	Interest Expense On Other Financial Liabilities InterestExpenseOnOtherFinancialLiabilities	13000	eur
CY2020	ifrs-full	Interest Expense On Other Financial Liabilities InterestExpenseOnOtherFinancialLiabilities	137000	eur
CY2022	ifrs-full	Other Finance Cost OtherFinanceCost	427000	eur
CY2021	ifrs-full	Other Finance Cost OtherFinanceCost	2835000	eur
CY2020	ifrs-full	Other Finance Cost OtherFinanceCost	2135000	eur
CY2021	adse	Share Listing Expense ShareListingExpense	-65796000	eur
CY2022	adse	Net Finance Costs NetFinanceCosts	20089000	eur
CY2021	adse	Net Finance Costs NetFinanceCosts	-68583000	eur
CY2020	adse	Net Finance Costs NetFinanceCosts	-2135000	eur
CY2022	adse	Public And Private Warrant Liabilities PublicAndPrivateWarrantLiabilities	10329000	usd
CY2021	adse	Public And Private Warrant Liabilities PublicAndPrivateWarrantLiabilities	0	eur
CY2020	adse	Public And Private Warrant Liabilities PublicAndPrivateWarrantLiabilities	0	eur
CY2020	ifrs-full	Gains Losses On Change In Value Of Foreign Currency Basis Spreads Net Of Tax GainsLossesOnChangeInValueOfForeignCurrencyBasisSpreadsNetOfTax	9928000	eur
CY2021Q4	ifrs-full	Par Value Per Share ParValuePerShare	9.77
CY2022	ifrs-full	Disclosure Of Fair Value Measurement Of Assets Explanatory DisclosureOfFairValueMeasurementOfAssetsExplanatory	<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>kEUR</b></p></td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="padding-bottom: 1.5pt; text-align: right"> </td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 88%">Fair value of 8,524,565 ordinary shares (including 3,593,750 founder shares) at €8.64 per share</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">73,697</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Fair value of 4,375,000 private warrants at EUR 1.17 per warrant</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,110</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Fair value of 7,187,500 public warrants at EUR 1.05 per warrant</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,568</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Net liability of EUSG at business combination</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">423</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt; font-weight: bold">Total value of consideration</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">86,799</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Proceeds received post business combination EUSG assets (cash)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-43,107</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt; text-align: left">Listing expenses total (cash)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">22,105</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left">Total share listing expense</td><td style="padding-bottom: 4pt; font-weight: bold"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">65,796</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
CY2022	adse	Fair Value Of Ordinary Shares FairValueOfOrdinaryShares	8524565	shares
CY2022	adse	Fair Value Of Ordinary Shares Including Founder Shares FairValueOfOrdinarySharesIncludingFounderShares	3593750	shares
CY2022	adse	Fair Value Of Per Share FairValueOfPerShare	8.64
CY2022	adse	Fair Valueof Ordinary Share Amount FairValueofOrdinaryShareAmount	73697000	eur
CY2022	adse	Fair Value Of Private Warrants FairValueOfPrivateWarrants	4375000	shares
CY2022	adse	Fair Value Of Per Warrant FairValueOfPerWarrant	1.17
CY2022	adse	Fair Value Of4375000 Private Warrants At117 Per Warrantin Shares FairValueOf4375000PrivateWarrantsAt117PerWarrantinShares	5110000	eur
CY2022	adse	Fair Value Of Public Warrants FairValueOfPublicWarrants	7187500	shares
CY2022	adse	Fair Value Of Public Warrant Per Share FairValueOfPublicWarrantPerShare	1.05
CY2022	adse	Fair Valueof Public Warrants FairValueofPublicWarrants	7568000	eur
CY2022Q4	ifrs-full	Contingent Liabilities Recognised In Business Combination ContingentLiabilitiesRecognisedInBusinessCombination	423000	eur
CY2022Q4	ifrs-full	Acquisitiondate Fair Value Of Total Consideration Transferred AcquisitiondateFairValueOfTotalConsiderationTransferred	86799000	eur
CY2022Q4	ifrs-full	Cash And Cash Equivalents Recognised As Of Acquisition Date CashAndCashEquivalentsRecognisedAsOfAcquisitionDate	43107000	eur
CY2022	adse	Listing Expenses Total Cash ListingExpensesTotalCash	22105000	eur
CY2022	ifrs-full	Expense By Nature ExpenseByNature	65796000	eur
CY2022	ifrs-full	Current Tax Expense Income And Adjustments For Current Tax Of Prior Periods CurrentTaxExpenseIncomeAndAdjustmentsForCurrentTaxOfPriorPeriods	-190000	eur
CY2022	ifrs-full	Current Tax Expense Income CurrentTaxExpenseIncome	-190000	eur
CY2022	ifrs-full	Deferred Tax Expense Income Relating To Origination And Reversal Of Temporary Differences DeferredTaxExpenseIncomeRelatingToOriginationAndReversalOfTemporaryDifferences	-3453000	eur
CY2021	ifrs-full	Deferred Tax Expense Income Relating To Origination And Reversal Of Temporary Differences DeferredTaxExpenseIncomeRelatingToOriginationAndReversalOfTemporaryDifferences	-1033000	eur
CY2020	ifrs-full	Deferred Tax Expense Income Relating To Origination And Reversal Of Temporary Differences DeferredTaxExpenseIncomeRelatingToOriginationAndReversalOfTemporaryDifferences	112000	eur
CY2022	adse	Recognition Of Previously Unrecognisedderecognition Of Previously Recognised Tax Losses RecognitionOfPreviouslyUnrecognisedderecognitionOfPreviouslyRecognisedTaxLosses	1071000	eur
CY2021	adse	Recognition Of Previously Unrecognisedderecognition Of Previously Recognised Tax Losses RecognitionOfPreviouslyUnrecognisedderecognitionOfPreviouslyRecognisedTaxLosses	620000	eur
CY2020	adse	Recognition Of Previously Unrecognisedderecognition Of Previously Recognised Tax Losses RecognitionOfPreviouslyUnrecognisedderecognitionOfPreviouslyRecognisedTaxLosses	-67000	eur
CY2022	ifrs-full	Deferred Tax Expense Income DeferredTaxExpenseIncome	-2382000	eur
CY2021	ifrs-full	Deferred Tax Expense Income DeferredTaxExpenseIncome	-413000	eur
CY2020	ifrs-full	Deferred Tax Expense Income DeferredTaxExpenseIncome	45000	eur
CY2022	ifrs-full	Deferred Tax Expense Income Recognised In Profit Or Loss DeferredTaxExpenseIncomeRecognisedInProfitOrLoss	-2572000	eur
CY2021	ifrs-full	Deferred Tax Expense Income Recognised In Profit Or Loss DeferredTaxExpenseIncomeRecognisedInProfitOrLoss	-413000	eur
CY2020	ifrs-full	Deferred Tax Expense Income Recognised In Profit Or Loss DeferredTaxExpenseIncomeRecognisedInProfitOrLoss	45000	eur
CY2022	adse	Description Of Reconciliation Of The Effective Tax Rate DescriptionOfReconciliationOfTheEffectiveTaxRate	The entity’s tax rate of 29,48% combines a corporate tax rate of 15%, a solidarity surcharge thereon of 5.5% and a trade tax rate of 13,65%.
CY2022	ifrs-full	Profit Loss Before Tax ProfitLossBeforeTax	-16335000	eur
CY2021	ifrs-full	Profit Loss Before Tax ProfitLossBeforeTax	-87227000	eur
CY2020	ifrs-full	Profit Loss Before Tax ProfitLossBeforeTax	-10325000	eur
CY2022	adse	Tax Using The Companys Domestic Tax Rate TaxUsingTheCompanysDomesticTaxRate	4815000	eur
CY2021	adse	Tax Using The Companys Domestic Tax Rate TaxUsingTheCompanysDomesticTaxRate	25710000	eur
CY2020	adse	Tax Using The Companys Domestic Tax Rate TaxUsingTheCompanysDomesticTaxRate	3043000	eur

CY2022

dei

Document Type

DocumentType

20-F

CY2022

dei

Document Registration Statement

DocumentRegistrationStatement

false

CY2022

dei

Document Annual Report

DocumentAnnualReport

true

CY2022

dei

Document Period End Date

DocumentPeriodEndDate

2022-12-31

CY2022

dei

Current Fiscal Year End Date

CurrentFiscalYearEndDate

--12-31

CY2022

dei

Document Fiscal Year Focus

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2022

CY2022

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Document Transition Report

DocumentTransitionReport

false

CY2022

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Document Shell Company Report

DocumentShellCompanyReport

false

CY2022

dei

Entity File Number

EntityFileNumber

001-41188

CY2022

dei

Contact Personnel Name

ContactPersonnelName

Not applicable

CY2022

dei

Entity Incorporation State Country Code

EntityIncorporationStateCountryCode

L2

CY2022

dei

Entity Address Address Line1

EntityAddressAddressLine1

10 Earlsfort TerraceDublin 2

CY2022

dei

Entity Address Postal Zip Code

EntityAddressPostalZipCode

D02 T380

CY2022

dei

Entity Address Country

EntityAddressCountry

IE

CY2022

dei

Entity Address City Or Town

EntityAddressCityOrTown

Ireland

CY2022Q4

dei

Entity Common Stock Shares Outstanding

EntityCommonStockSharesOutstanding

48877162

shares

CY2022

dei

Entity Well Known Seasoned Issuer

EntityWellKnownSeasonedIssuer

No

CY2022

dei

Entity Voluntary Filers

EntityVoluntaryFilers

No

CY2022

dei

Entity Current Reporting Status

EntityCurrentReportingStatus

Yes

CY2022

dei

Entity Interactive Data Current

EntityInteractiveDataCurrent

Yes

CY2022

dei

Entity Filer Category

EntityFilerCategory

Non-accelerated Filer

CY2022

dei

Entity Emerging Growth Company

EntityEmergingGrowthCompany

true

CY2022

dei

Entity Ex Transition Period

EntityExTransitionPeriod

false

CY2022

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Icfr Auditor Attestation Flag

IcfrAuditorAttestationFlag

false

CY2022

dei

Entity Shell Company

EntityShellCompany

false

CY2022

dei

Auditor Firm

AuditorFirmId

1010

CY2022

dei

Auditor Name

AuditorName

BDO AG Wirtschaftsprüfungsgesellschaft

CY2022

dei

Auditor Location

AuditorLocation

Frankfurt am Main, Germany

CY2022

ifrs-full

Revenue

26430000

eur

CY2021

ifrs-full

Revenue

33035000

eur

CY2020

ifrs-full

Revenue

47370000

eur

CY2022

ifrs-full

Cost Of Sales

CostOfSales

30904000

eur

CY2021

ifrs-full

Cost Of Sales

CostOfSales

35310000

eur

CY2020

ifrs-full

Cost Of Sales

CostOfSales

45548000

eur

CY2022

ifrs-full

Gross Profit

GrossProfit

-4474000

eur

CY2021

ifrs-full

Gross Profit

GrossProfit

-2275000

eur

CY2020

ifrs-full

Gross Profit

GrossProfit

1822000

eur

CY2022

ifrs-full

Research And Development Expense

ResearchAndDevelopmentExpense

1701000

eur

CY2021

ifrs-full

Research And Development Expense

ResearchAndDevelopmentExpense

2012000

eur

CY2020

ifrs-full

Research And Development Expense

ResearchAndDevelopmentExpense

749000

eur

CY2022

ifrs-full

Administrative Expense

AdministrativeExpense

31319000

eur

CY2021

ifrs-full

Administrative Expense

AdministrativeExpense

13321000

eur

CY2020

ifrs-full

Administrative Expense

AdministrativeExpense

7570000

eur

CY2022

ifrs-full

Impairment Loss Impairment Gain And Reversal Of Impairment Loss Determined In Accordance With Ifrs9

ImpairmentLossImpairmentGainAndReversalOfImpairmentLossDeterminedInAccordanceWithIFRS9

228000

eur

CY2021

ifrs-full

Impairment Loss Impairment Gain And Reversal Of Impairment Loss Determined In Accordance With Ifrs9

ImpairmentLossImpairmentGainAndReversalOfImpairmentLossDeterminedInAccordanceWithIFRS9

171000

eur

CY2020

ifrs-full

Impairment Loss Impairment Gain And Reversal Of Impairment Loss Determined In Accordance With Ifrs9

ImpairmentLossImpairmentGainAndReversalOfImpairmentLossDeterminedInAccordanceWithIFRS9

9000

eur

CY2022

ifrs-full

Other Income

OtherIncome

2383000

eur

CY2021

ifrs-full

Other Income

OtherIncome

4538000

eur

CY2020

ifrs-full

Other Income

OtherIncome

541000

eur

CY2022

ifrs-full

Other Operating Income Expense

OtherOperatingIncomeExpense

-1084000

eur

CY2021

ifrs-full

Other Operating Income Expense

OtherOperatingIncomeExpense

-5402000

eur

CY2020

ifrs-full

Other Operating Income Expense

OtherOperatingIncomeExpense

-2224000

eur

CY2022

ifrs-full

Profit Loss From Operating Activities

ProfitLossFromOperatingActivities

-36423000

eur

CY2021

ifrs-full

Profit Loss From Operating Activities

ProfitLossFromOperatingActivities

-18643000

eur

CY2020

ifrs-full

Profit Loss From Operating Activities

ProfitLossFromOperatingActivities

-8190000

eur

CY2022

adse

Finance Incomes

FinanceIncomes

20515000

eur

CY2021

adse

Finance Incomes

FinanceIncomes

47000

eur

CY2022

ifrs-full

Finance Income Cost

FinanceIncomeCost

-427000

eur

CY2021

ifrs-full

Finance Income Cost

FinanceIncomeCost

-2835000

eur

CY2020

ifrs-full

Finance Income Cost

FinanceIncomeCost

-2135000

eur

CY2021

adse

Share Listing Expenses

ShareListingExpenses

-65796000

eur

CY2022

adse

Net Finance Costs Amount

NetFinanceCostsAmount

-20089000

eur

CY2021

adse

Net Finance Costs Amount

NetFinanceCostsAmount

68583000

eur

CY2020

adse

Net Finance Costs Amount

NetFinanceCostsAmount

2135000

eur

CY2022

ifrs-full

Profit Loss Before Tax

ProfitLossBeforeTax

-16335000

eur

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ifrs-full

Profit Loss Before Tax

ProfitLossBeforeTax

-87227000

eur

CY2020

ifrs-full

Profit Loss Before Tax

ProfitLossBeforeTax

-10325000

eur

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ifrs-full

Income Tax Expense Continuing Operations

IncomeTaxExpenseContinuingOperations

2572000

eur

CY2021

ifrs-full

Income Tax Expense Continuing Operations

IncomeTaxExpenseContinuingOperations

413000

eur

CY2020

ifrs-full

Income Tax Expense Continuing Operations

IncomeTaxExpenseContinuingOperations

-45000

eur

CY2022

ifrs-full

Profit Loss

ProfitLoss

-18906000

eur

CY2021

ifrs-full

Profit Loss

ProfitLoss

-87640000

eur

CY2020

ifrs-full

Profit Loss

ProfitLoss

-10280000

eur

CY2022

ifrs-full

Income Tax Relating To Components Of Other Comprehensive Income That Will Be Reclassified To Profit Or Loss

IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLoss

-46000

eur

CY2021

ifrs-full

Income Tax Relating To Components Of Other Comprehensive Income That Will Be Reclassified To Profit Or Loss

IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLoss

2000

eur

CY2022

ifrs-full

Other Comprehensive Income

OtherComprehensiveIncome

46000

eur

CY2021

ifrs-full

Other Comprehensive Income

OtherComprehensiveIncome

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eur

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Comprehensive Income

ComprehensiveIncome

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ifrs-full

Comprehensive Income

ComprehensiveIncome

-87642000

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ifrs-full

Comprehensive Income

ComprehensiveIncome

-10280000

eur

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Comprehensive Income Attributables To Owners Of Parent

ComprehensiveIncomeAttributablesToOwnersOfParent

-18906000

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adse

Comprehensive Income Attributables To Owners Of Parent

ComprehensiveIncomeAttributablesToOwnersOfParent

-87640000

eur

CY2020

adse

Comprehensive Income Attributables To Owners Of Parent

ComprehensiveIncomeAttributablesToOwnersOfParent

-10280000

eur

CY2022

ifrs-full

Comprehensive Income Attributable To Owners Of Parent

ComprehensiveIncomeAttributableToOwnersOfParent

-18860000

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ifrs-full

Comprehensive Income Attributable To Owners Of Parent

ComprehensiveIncomeAttributableToOwnersOfParent

-87642000

eur

CY2020

ifrs-full

Comprehensive Income Attributable To Owners Of Parent

ComprehensiveIncomeAttributableToOwnersOfParent

-10280000

eur

CY2022

ifrs-full

Diluted Earnings Loss Per Share

DilutedEarningsLossPerShare

-0.39

CY2021

ifrs-full

Diluted Earnings Loss Per Share

DilutedEarningsLossPerShare

-3.46

CY2020

ifrs-full

Diluted Earnings Loss Per Share

DilutedEarningsLossPerShare

-320.86

CY2022

ifrs-full

Basic Earnings Loss Per Share

BasicEarningsLossPerShare

-0.39

CY2021

ifrs-full

Basic Earnings Loss Per Share

BasicEarningsLossPerShare

-3.46

CY2020

ifrs-full

Basic Earnings Loss Per Share

BasicEarningsLossPerShare

-320.86

CY2022Q4

ifrs-full

Intangible Assets Other Than Goodwill

IntangibleAssetsOtherThanGoodwill

22059000

eur

CY2021Q4

ifrs-full

Intangible Assets Other Than Goodwill

IntangibleAssetsOtherThanGoodwill

17038000

eur

CY2022Q4

ifrs-full

Rightofuse Assets

RightofuseAssets

3366000

eur

CY2021Q4

ifrs-full

Rightofuse Assets

RightofuseAssets

1988000

eur

CY2022Q4

ifrs-full

Property Plant And Equipment

PropertyPlantAndEquipment

5389000

eur

CY2021Q4

ifrs-full

Property Plant And Equipment

PropertyPlantAndEquipment

2958000

eur

CY2022Q4

ifrs-full

Investments In Subsidiaries Joint Ventures And Associates

InvestmentsInSubsidiariesJointVenturesAndAssociates

3373000

eur

CY2021Q4

ifrs-full

Investments In Subsidiaries Joint Ventures And Associates

InvestmentsInSubsidiariesJointVenturesAndAssociates

2084000

eur

CY2022Q4

ifrs-full

Noncurrent Receivables

NoncurrentReceivables

4000

eur

CY2021Q4

ifrs-full

Noncurrent Receivables

NoncurrentReceivables

4000

eur

CY2022Q4

ifrs-full

Noncurrent Assets

NoncurrentAssets

34192000

eur

CY2021Q4

ifrs-full

Noncurrent Assets

NoncurrentAssets

24072000

eur

CY2022Q4

ifrs-full

Inventories Total

InventoriesTotal

53137000

eur

CY2021Q4

ifrs-full

Inventories Total

InventoriesTotal

13063000

eur

CY2022Q4

ifrs-full

Noncurrent Noncash Assets Pledged As Collateral For Which Transferee Has Right By Contract Or Custom To Sell Or Repledge Collateral

NoncurrentNoncashAssetsPledgedAsCollateralForWhichTransfereeHasRightByContractOrCustomToSellOrRepledgeCollateral

6000

eur

CY2021Q4

ifrs-full

Noncurrent Noncash Assets Pledged As Collateral For Which Transferee Has Right By Contract Or Custom To Sell Or Repledge Collateral

NoncurrentNoncashAssetsPledgedAsCollateralForWhichTransfereeHasRightByContractOrCustomToSellOrRepledgeCollateral

973000

eur

CY2022Q4

ifrs-full

Trade And Other Current Receivables

TradeAndOtherCurrentReceivables

17666000

eur

CY2021Q4

ifrs-full

Trade And Other Current Receivables

TradeAndOtherCurrentReceivables

11304000

eur

CY2022Q4

ifrs-full

Other Cash And Cash Equivalents

OtherCashAndCashEquivalents

34441000

eur

CY2021Q4

ifrs-full

Other Cash And Cash Equivalents

OtherCashAndCashEquivalents

101813000

eur

CY2022Q4

ifrs-full

Current Assets

CurrentAssets

105250000

eur

CY2021Q4

ifrs-full

Current Assets

CurrentAssets

127152000

eur

CY2022Q4

ifrs-full

Assets

139442000

eur

CY2021Q4

ifrs-full

Assets

151224000

eur

CY2022

ifrs-full

Profit Loss

ProfitLoss

-18906000

eur

CY2021

ifrs-full

Profit Loss

ProfitLoss

-87640000

eur

CY2020

ifrs-full

Profit Loss

ProfitLoss

-10280000

eur

CY2022

ifrs-full

Adjustments For Depreciation And Amortisation Expense

AdjustmentsForDepreciationAndAmortisationExpense

4336000

eur

CY2022Q4

ifrs-full

Issued Capital

IssuedCapital

4000

eur

CY2021Q4

ifrs-full

Issued Capital

IssuedCapital

4000

eur

CY2022Q4

ifrs-full

Reserve Of Sharebased Payments

ReserveOfSharebasedPayments

216815000

eur

CY2021Q4

ifrs-full

Reserve Of Sharebased Payments

ReserveOfSharebasedPayments

214100000

eur

CY2022Q4

ifrs-full

Other Equity Interest

OtherEquityInterest

45000

eur

CY2021Q4

ifrs-full

Other Equity Interest

OtherEquityInterest

-2000

eur

CY2022Q4

adse

Retained Earnings Amount

RetainedEarningsAmount

-117211000

eur

CY2021Q4

adse

Retained Earnings Amount

RetainedEarningsAmount

-29570000

eur

CY2022Q4

adse

Profit Loss1

ProfitLoss1

-18906000

eur

CY2021Q4

adse

Profit Loss1

ProfitLoss1

-87640000

eur

CY2022Q4

ifrs-full

Equity Attributable To Owners Of Parent

EquityAttributableToOwnersOfParent

80747000

eur

CY2021Q4

ifrs-full

Equity Attributable To Owners Of Parent

EquityAttributableToOwnersOfParent

96892000

eur

CY2022Q4

ifrs-full

Equity

80747000

eur

CY2021Q4

ifrs-full

Equity

96892000

eur

CY2022Q4

ifrs-full

Noncurrent Lease Liabilities

NoncurrentLeaseLiabilities

2635000

eur

CY2021Q4

ifrs-full

Noncurrent Lease Liabilities

NoncurrentLeaseLiabilities

1537000

eur

CY2022Q4

ifrs-full

Noncurrent Warrant Liability

NoncurrentWarrantLiability

2439000

eur

CY2021Q4

ifrs-full

Noncurrent Warrant Liability

NoncurrentWarrantLiability

12767000

eur

CY2022Q4

ifrs-full

Noncurrent Payables

NoncurrentPayables

150000

eur

CY2021Q4

ifrs-full

Noncurrent Payables

NoncurrentPayables

158000

eur

CY2022Q4

ifrs-full

Noncurrent Contract Liabilities

NoncurrentContractLiabilities

138000

eur

CY2021Q4

ifrs-full

Noncurrent Contract Liabilities

NoncurrentContractLiabilities

132000

eur

CY2022Q4

ifrs-full

Other Longterm Provisions

OtherLongtermProvisions

6719000

eur

CY2021Q4

ifrs-full

Other Longterm Provisions

OtherLongtermProvisions

7438000

eur

CY2022Q4

ifrs-full

Deferred Tax Liabilities

DeferredTaxLiabilities

4241000

eur

CY2021Q4

ifrs-full

Deferred Tax Liabilities

DeferredTaxLiabilities

1859000

eur

CY2022Q4

ifrs-full

Noncurrent Liabilities

NoncurrentLiabilities

16322000

eur

CY2021Q4

ifrs-full

Noncurrent Liabilities

NoncurrentLiabilities

23892000

eur

CY2022Q4

ifrs-full

Current Lease Liabilities

CurrentLeaseLiabilities

842000

eur

CY2021Q4

ifrs-full

Current Lease Liabilities

CurrentLeaseLiabilities

528000

eur

CY2021Q4

ifrs-full

Current Portion Of Longterm Borrowings

CurrentPortionOfLongtermBorrowings

7522000

eur

CY2022Q4

ifrs-full

Trade And Other Current Payables

TradeAndOtherCurrentPayables

15702000

eur

CY2021Q4

ifrs-full

Trade And Other Current Payables

TradeAndOtherCurrentPayables

14000000

eur

CY2022Q4

ifrs-full

Current Contract Liabilities

CurrentContractLiabilities

23583000

eur

CY2021Q4

ifrs-full

Current Contract Liabilities

CurrentContractLiabilities

6208000

eur

CY2022Q4

ifrs-full

Current Tax Liabilities

CurrentTaxLiabilities

189000

eur

CY2022Q4

ifrs-full

Other Shortterm Provisions

OtherShorttermProvisions

2056000

eur

CY2021Q4

ifrs-full

Other Shortterm Provisions

OtherShorttermProvisions

2182000

eur

CY2022Q4

ifrs-full

Current Liabilities

CurrentLiabilities

42373000

eur

CY2021Q4

ifrs-full

Current Liabilities

CurrentLiabilities

30440000

eur

CY2022Q4

ifrs-full

Liabilities

58695000

eur

CY2021Q4

ifrs-full

Liabilities

54332000

eur

CY2022Q4

ifrs-full

Equity And Liabilities

EquityAndLiabilities

139442000

eur

CY2021Q4

ifrs-full

Equity And Liabilities

EquityAndLiabilities

151224000

eur

CY2021

ifrs-full

Adjustments For Depreciation And Amortisation Expense

AdjustmentsForDepreciationAndAmortisationExpense

3485000

eur

CY2020

ifrs-full

Adjustments For Depreciation And Amortisation Expense

AdjustmentsForDepreciationAndAmortisationExpense

1641000

eur

CY2022

ifrs-full

Adjustments For Finance Income Cost

AdjustmentsForFinanceIncomeCost

-10587000

eur

CY2021

ifrs-full

Adjustments For Finance Income Cost

AdjustmentsForFinanceIncomeCost

-47000

eur

CY2022

ifrs-full

Adjustments For Finance Costs

AdjustmentsForFinanceCosts

427000

eur

CY2021

ifrs-full

Adjustments For Finance Costs

AdjustmentsForFinanceCosts

2835000

eur

CY2020

ifrs-full

Adjustments For Finance Costs

AdjustmentsForFinanceCosts

2135000

eur

CY2021

adse

Other Adjustments Forsharelistingexpense

OtherAdjustmentsForsharelistingexpense

58523000

eur

CY2022

ifrs-full

Other Adjustments For Noncash Items

OtherAdjustmentsForNoncashItems

-9928000

eur

CY2022

ifrs-full

Adjustments For Sharebased Payments

AdjustmentsForSharebasedPayments

2767000

eur

CY2022

ifrs-full

Adjustments For Gain Loss On Disposals Property Plant And Equipment

AdjustmentsForGainLossOnDisposalsPropertyPlantAndEquipment

21000

eur

CY2021

ifrs-full

Adjustments For Gain Loss On Disposals Property Plant And Equipment

AdjustmentsForGainLossOnDisposalsPropertyPlantAndEquipment

55000

eur

CY2020

ifrs-full

Adjustments For Gain Loss On Disposals Property Plant And Equipment

AdjustmentsForGainLossOnDisposalsPropertyPlantAndEquipment

70000

eur

CY2022

ifrs-full

Adjustments For Decrease Increase In Trade And Other Receivables

AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables

-6716000

eur

CY2021

ifrs-full

Adjustments For Decrease Increase In Trade And Other Receivables

AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables

-10540000

eur

CY2020

ifrs-full

Adjustments For Decrease Increase In Trade And Other Receivables

AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables

1380000

eur

CY2022

ifrs-full

Adjustments For Decrease Increase In Inventories

AdjustmentsForDecreaseIncreaseInInventories

-40195000

eur

CY2021

ifrs-full

Adjustments For Decrease Increase In Inventories

AdjustmentsForDecreaseIncreaseInInventories

8572000

eur

CY2020

ifrs-full

Adjustments For Decrease Increase In Inventories

AdjustmentsForDecreaseIncreaseInInventories

13887000

eur

CY2022

ifrs-full

Adjustments For Increase Decrease In Trade Account Payable

AdjustmentsForIncreaseDecreaseInTradeAccountPayable

3689000

eur

CY2021

ifrs-full

Adjustments For Increase Decrease In Trade Account Payable

AdjustmentsForIncreaseDecreaseInTradeAccountPayable

785000

eur

CY2020

ifrs-full

Adjustments For Increase Decrease In Trade Account Payable

AdjustmentsForIncreaseDecreaseInTradeAccountPayable

5936000

eur

CY2022

ifrs-full

Adjustments For Decrease Increase In Contract Assets

AdjustmentsForDecreaseIncreaseInContractAssets

967000

eur

CY2021

ifrs-full

Adjustments For Decrease Increase In Contract Assets

AdjustmentsForDecreaseIncreaseInContractAssets

654000

eur

CY2020

ifrs-full

Adjustments For Decrease Increase In Contract Assets

AdjustmentsForDecreaseIncreaseInContractAssets

-565000

eur

CY2022

ifrs-full

Adjustments For Increase Decrease In Contract Liabilities

AdjustmentsForIncreaseDecreaseInContractLiabilities

17387000

eur

CY2021

ifrs-full

Adjustments For Increase Decrease In Contract Liabilities

AdjustmentsForIncreaseDecreaseInContractLiabilities

-1802000

eur

CY2020

ifrs-full

Adjustments For Increase Decrease In Contract Liabilities

AdjustmentsForIncreaseDecreaseInContractLiabilities

-29686000

eur

CY2022

ifrs-full

Adjustments For Increase Decrease In Insurance Reinsurance And Investment Contract Liabilities

AdjustmentsForIncreaseDecreaseInInsuranceReinsuranceAndInvestmentContractLiabilities

-872000

eur

CY2021

ifrs-full

Adjustments For Increase Decrease In Insurance Reinsurance And Investment Contract Liabilities

AdjustmentsForIncreaseDecreaseInInsuranceReinsuranceAndInvestmentContractLiabilities

-2577000

eur

CY2020

ifrs-full

Adjustments For Increase Decrease In Insurance Reinsurance And Investment Contract Liabilities

AdjustmentsForIncreaseDecreaseInInsuranceReinsuranceAndInvestmentContractLiabilities

-140000

eur

CY2022

ifrs-full

Adjustments For Provisions

AdjustmentsForProvisions

-845000

eur

CY2021

ifrs-full

Adjustments For Provisions

AdjustmentsForProvisions

6112000

eur

CY2020

ifrs-full

Adjustments For Provisions

AdjustmentsForProvisions

3082000

eur

CY2022

ifrs-full

Adjustments For Increase Decrease In Other Current Liabilities

AdjustmentsForIncreaseDecreaseInOtherCurrentLiabilities

651000

eur

CY2021

ifrs-full

Adjustments For Increase Decrease In Other Current Liabilities

AdjustmentsForIncreaseDecreaseInOtherCurrentLiabilities

3283000

eur

CY2020

ifrs-full

Adjustments For Increase Decrease In Other Current Liabilities

AdjustmentsForIncreaseDecreaseInOtherCurrentLiabilities

-45000

eur

CY2022

ifrs-full

Cash Flows From Used In Operating Activities

CashFlowsFromUsedInOperatingActivities

-57805000

eur

CY2021

ifrs-full

Cash Flows From Used In Operating Activities

CashFlowsFromUsedInOperatingActivities

-18304000

eur

CY2020

ifrs-full

Cash Flows From Used In Operating Activities

CashFlowsFromUsedInOperatingActivities

-12584000

eur

CY2022

ifrs-full

Purchase Of Property Plant And Equipment Classified As Investing Activities

PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities

3484000

eur

CY2021

ifrs-full

Purchase Of Property Plant And Equipment Classified As Investing Activities

PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities

1576000

eur

CY2020

ifrs-full

Purchase Of Property Plant And Equipment Classified As Investing Activities

PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities

1059000

eur

CY2022

ifrs-full

Purchase Of Intangible Assets Classified As Investing Activities

PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities

7586000

eur

CY2021

ifrs-full

Purchase Of Intangible Assets Classified As Investing Activities

PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities

4009000

eur

CY2020

ifrs-full

Purchase Of Intangible Assets Classified As Investing Activities

PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities

5564000

eur

CY2022

ifrs-full

Interest Received Classified As Investing Activities

InterestReceivedClassifiedAsInvestingActivities

196000

eur

CY2022

ifrs-full

Cash Flows From Used In Investing Activities

CashFlowsFromUsedInInvestingActivities

-10874000

eur

CY2021

ifrs-full

Cash Flows From Used In Investing Activities

CashFlowsFromUsedInInvestingActivities

-5585000

eur

CY2020

ifrs-full

Cash Flows From Used In Investing Activities

CashFlowsFromUsedInInvestingActivities

-6623000

eur

CY2021

ifrs-full

Proceeds From Borrowings Classified As Financing Activities

ProceedsFromBorrowingsClassifiedAsFinancingActivities

26409000

eur

CY2021Q4

ifrs-full

Equity

96892000

eur

CY2020

ifrs-full

Proceeds From Borrowings Classified As Financing Activities

ProceedsFromBorrowingsClassifiedAsFinancingActivities

10354000

eur

CY2022

ifrs-full

Repayments Of Borrowings Classified As Financing Activities

RepaymentsOfBorrowingsClassifiedAsFinancingActivities

7522000

eur

CY2021

ifrs-full

Repayments Of Borrowings Classified As Financing Activities

RepaymentsOfBorrowingsClassifiedAsFinancingActivities

354000

eur

CY2021

ifrs-full

Proceeds From Issuing Shares

ProceedsFromIssuingShares

265372000

eur

CY2021

adse

Proceeds From Cash Election By Shareholders In Lieu Of Shares

ProceedsFromCashElectionByShareholdersInLieuOfShares

84112000

eur

CY2021

adse

Proceeds From Transaction Cost Deducted From Equity

ProceedsFromTransactionCostDeductedFromEquity

14991000

eur

CY2021

adse

Repayment Of Shareholder Loans

RepaymentOfShareholderLoans

43257000

eur

CY2021

adse

Proceeds From Redemption Of Equity

ProceedsFromRedemptionOfEquity

19976000

eur

CY2022

ifrs-full

Payments Of Lease Liabilities Classified As Financing Activities

PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities

706000

eur

CY2021

ifrs-full

Payments Of Lease Liabilities Classified As Financing Activities

PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities

569000

eur

CY2020

ifrs-full

Payments Of Lease Liabilities Classified As Financing Activities

PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities

454000

eur

CY2022

ifrs-full

Interest Paid Classified As Financing Activities

InterestPaidClassifiedAsFinancingActivities

427000

eur

CY2021

ifrs-full

Interest Paid Classified As Financing Activities

InterestPaidClassifiedAsFinancingActivities

2571000

eur

CY2022

ifrs-full

Cash Flows From Used In Financing Activities

CashFlowsFromUsedInFinancingActivities

-8655000

eur

CY2021

ifrs-full

Cash Flows From Used In Financing Activities

CashFlowsFromUsedInFinancingActivities

125950000

eur

CY2020

ifrs-full

Cash Flows From Used In Financing Activities

CashFlowsFromUsedInFinancingActivities

9900000

eur

CY2022

ifrs-full

Increase Decrease In Cash And Cash Equivalents Before Effect Of Exchange Rate Changes

IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges

-77334000

eur

CY2021

ifrs-full

Increase Decrease In Cash And Cash Equivalents Before Effect Of Exchange Rate Changes

IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges

102062000

eur

CY2020

ifrs-full

Increase Decrease In Cash And Cash Equivalents Before Effect Of Exchange Rate Changes

IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges

-9307000

eur

CY2021Q4

ifrs-full

Cash And Cash Equivalents

CashAndCashEquivalents

101813000

eur

CY2020Q4

ifrs-full

Cash And Cash Equivalents

CashAndCashEquivalents

18000

eur

CY2019Q4

ifrs-full

Cash And Cash Equivalents

CashAndCashEquivalents

9325000

eur

CY2022

ifrs-full

Effect Of Exchange Rate Changes On Cash And Cash Equivalents

EffectOfExchangeRateChangesOnCashAndCashEquivalents

9962000

eur

CY2021

ifrs-full

Effect Of Exchange Rate Changes On Cash And Cash Equivalents

EffectOfExchangeRateChangesOnCashAndCashEquivalents

-267000

eur

CY2022Q4

ifrs-full

Cash And Cash Equivalents

CashAndCashEquivalents

34441000

eur

CY2021Q4

ifrs-full

Cash And Cash Equivalents

CashAndCashEquivalents

101813000

eur

CY2020Q4

ifrs-full

Cash And Cash Equivalents

CashAndCashEquivalents

18000

eur

CY2021Q4

ifrs-full

Equity

96892000

eur

CY2022

ifrs-full

Profit Loss

ProfitLoss

-18906000

eur

CY2022

ifrs-full

Other Comprehensive Income

OtherComprehensiveIncome

46000

eur

CY2022

adse

Comprehensive Incomes

ComprehensiveIncomes

78031000

eur

CY2022

ifrs-full

Increase Decrease Through Transfers And Other Changes Equity

IncreaseDecreaseThroughTransfersAndOtherChangesEquity

25000

eur

CY2022

adse

Stock Compensation

StockCompensation

2690000

eur

CY2022

adse

Total Contributions And Distributions

TotalContributionsAndDistributions

2715000

eur

CY2022Q4

ifrs-full

Equity

80747000

eur

CY2020Q4

ifrs-full

Equity

-8589000

eur

CY2021

ifrs-full

Other Comprehensive Income

OtherComprehensiveIncome

-2000

eur

CY2021

adse

Comprehensive Incomes

ComprehensiveIncomes

-87642000

eur

CY2021

ifrs-full

Increase Decrease Through Treasury Share Transactions

IncreaseDecreaseThroughTreasuryShareTransactions

137841000

eur

CY2021

adse

Share Issuance In Connection With A Merger

ShareIssuanceInConnectionWithAMerger

138041000

eur

CY2021

adse

Capital Contribution

CapitalContribution

1342000

eur

CY2021

adse

Stock Compensation

StockCompensation

10000

eur

CY2021

adse

Cash Election By Shareholders In Lieu Of Shares

CashElectionByShareholdersInLieuOfShares

-84113000

eur

CY2021

adse

Total Contributions And Distributions

TotalContributionsAndDistributions

193121000

eur

CY2019Q4

ifrs-full

Equity

1691000

eur

CY2020

ifrs-full

Profit Loss

ProfitLoss

-10280000

eur

CY2020

adse

Comprehensive Incomes

ComprehensiveIncomes

-10280000

eur

CY2020Q4

ifrs-full

Equity

-8589000

eur

CY2022

adse

Ordinary Share

OrdinaryShare

48904771

shares

CY2022

adse

Ordinary Shares Percentage

OrdinarySharesPercentage

1

pure

CY2022Q4

ifrs-full

Percentage Of Voting Equity Interests Acquired

PercentageOfVotingEquityInterestsAcquired

0.3603

pure

CY2021Q4

ifrs-full

Percentage Of Voting Equity Interests Acquired

PercentageOfVotingEquityInterestsAcquired

0.361

pure

CY2021Q1

adse

Initial Public Offering Units

InitialPublicOfferingUnits

12500000

shares

CY2021Q1

ifrs-full

Par Value Per Share

ParValuePerShare

0.0001

CY2021Q1

adse

Holder Purchase One Class A Ordinary Per Share

HolderPurchaseOneClassAOrdinaryPerShare

11.5

CY2021Q1

adse

Units Sold Price

UnitsSoldPrice

10

CY2021Q1

adse

Generating Gross Proceeds

GeneratingGrossProceeds

143750000

usd

CY2021Q1

adse

Aggregate Warrant Shares

AggregateWarrantShares

4375000

shares

CY2021Q1

us-gaap

Sale Of Stock Price Per Share

SaleOfStockPricePerShare

1

CY2021Q4

ifrs-full

Cash And Cash Equivalents Amount Contributed To Fair Value Of Plan Assets

CashAndCashEquivalentsAmountContributedToFairValueOfPlanAssets

15200000

usd

CY2021Q4

adse

Investor Subscribed Additional Shares

InvestorSubscribedAdditionalShares

400000

shares

CY2021Q4

adse

Additional Paid Amount

AdditionalPaidAmount

4000000

usd

CY2022

ifrs-full

Profit Loss

ProfitLoss

-18906000

eur

CY2021

us-gaap

Profit Loss

ProfitLoss

87640000

eur

CY2021Q4

ifrs-full

Inventories Total

InventoriesTotal

13063000

eur

CY2022Q4

ifrs-full

Inventories Total

InventoriesTotal

53137000

eur

CY2022

adse

Further Purchase Amount

FurtherPurchaseAmount

106100000

eur

CY2022Q4

adse

Working Capital

WorkingCapital

89000000

eur

CY2022

ifrs-full

Disclosure Of Accounting Judgements And Estimates Explanatory

DisclosureOfAccountingJudgementsAndEstimatesExplanatory

<table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">2.</td><td style="text-align: justify">Accounting estimates and management judgements</td></tr></table><p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ADSE makes certain estimates and assumptions regarding the future. Estimates and judgements are continually evaluated based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. In the future, actual experience may differ from these estimates and assumptions. Revisions of estimates are reported prospectively. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Information about estimates and assumptions that may have a material effect on recognition and measurement of assets, liabilities, income, and expenses are provided below:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Revenue from contracts with customers (note 4.1.1)</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Contracts where ADSE provides services to customers, and which are realized over time usually require an estimate regarding future costs to be incurred until completion of the contract. The resulting margin is thus estimated by management based on historical data and current forecasting and reviewed at least annually.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Useful lives of depreciable assets (note 4.2.1, 4.2.2 and 4.2.3)</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The expected useful lives for intangible assets, right-of-use assets, and items of property, plant, and equipment and the associated amortization or depreciation expenses are determined based on the expectations and assessments of management. If the actual useful life is less than the expected useful life, the amount of depreciation or amortization is adjusted accordingly. As part of the determination of impairment losses on fixed assets, estimates relating to the reason, timing and amount of the impairments are also made. Useful lives are reassessed on a regular basis. Uncertainties in these estimates relate to technological obsolescence that may change the utility of certain software and IT equipment.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Impairment of non-financial assets (note 4.2.1, 4.2.2 and 4.2.3)</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ADSE assesses whether there are any indicators of impairment for all non-financial assets at each reporting date. Other non-financial assets are tested for impairment when there are indications that the carrying amounts may not be recoverable.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Inventories (note 4.2.5)</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Management estimates the net realizable values of inventories, considering the most reliable evidence available at the reporting date.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Allowances for expected credit losses (ECL) of trade receivables and contract assets (note 4.1.1 and 4.2.6)</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Management determines the expected credit losses (ECL) as a probability-weighted estimate of credit losses over the expected life of the trade receivables and contract assets (simplified approach). The most common-used calculation formula for ECL according to IFRS 9 which is applied in accordance with our accounting policy is:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ECL = EAD * PD * LGD</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">[Expected Credit Losses = Exposure at Default (gross value) * Probability of Default * Loss Given Default]</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Exposure at Default is the amount outstanding. Probability of default (PD) rates are determined by an external service provider, which is a credit insurance group.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Management estimates loss given default (LGD) rates. ADSE uses a LGD rate of 40% as a management evaluation.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Provisions (note 4.2.12)</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Provisions are recognized for various circumstances as part of ordinary operating activities. The amount of the anticipated cash outflows is determined based on assumptions and estimates for each specific circumstance and reflects the most probable settlement amount of the present obligation at the reporting date. These assumptions may be subject to changes, which lead to a deviation in future periods.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Recoverability of deferred tax assets (note 4.1.7)</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Deferred tax assets are recognized only to the extent that it is probable that taxable profit will be available against which the deductible temporary differences, tax loss carryforwards and tax credits can be utilized. Significant management judgement is required to determine the amount of deferred tax assets that can be recognized, based upon the likely timing and the level of future taxable profits, together with future tax planning opportunities.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ADSE assesses the recoverability of deferred tax assets at each balance sheet date based on planned taxable income in future fiscal years; if it is assumed that future tax benefits cannot be utilized, a valuation allowance is made on the deferred tax assets.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Uncertain tax positions (note 4.1.7)</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In cases for which it is probable that amounts declared as expenses in the tax returns might not be recognized (uncertain tax positions), a liability for income taxes is recognized. The amount is based on the best estimate of the expected tax payment (expected value or most likely amount). Tax refund claims from uncertain tax positions are recognized when it is probable that they can be realized. In the case of tax loss, no liability for taxes or tax claim is recognized for these uncertain tax positions. Instead, the deferred tax assets for the unused tax loss carryforwards or tax credits are to be adjusted.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Share-based payments (note 4.3)</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Estimating fair value for share-based payment transactions requires determination of the most appropriate valuation model, which depends on the terms and conditions of the grant. This estimate also requires determination of the most appropriate inputs to the valuation model including the expected life of the share option or appreciation right, volatility and dividend yield and making assumptions about them. Management has grouped the beneficiaries into homogeneous groups based on their level of hierarchy to derive exit rates based on past and expected future fluctuations resulting in expected exit rates of 0-5% for all periods presented. The assumptions and models used for estimating the fair value of equity settled share-based payments are disclosed in note 4.3. </p>

CY2022

adse

Rate Of Management Evaluation

RateOfManagementEvaluation

0.40

pure

CY2022

ifrs-full

Disclosure Of Summary Of Significant Accounting Policies Explanatory

DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory

<table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.</td><td style="text-align: justify">Accounting policies</td></tr></table><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34pt; text-align: justify; text-indent: -34pt"> </p><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.1</td><td style="text-align: justify">Basis of preparation</td></tr></table><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Applied IFRS</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The consolidated financial statements of ADSE have been prepared in accordance and in conformity with the International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB). The term IFRS also includes all valid International Accounting Standards (IAS) as well as the interpretations of the International Financial Reporting Interpretation Committee (IFRIC). These consolidated financial statements cover the financial year from January 01, 2022 to December 31, 2022 (comparison period: financial year January 01, 2021, to December 31, 2021, and financial year January 01, 2020 to December 31, 2020). Comparable information in the financial statements for the comparison period from January 01, 2021, to December 31, 2021, is represented by the consolidated financial statements of ADSE Holdco. Comparable information in the financial statements for the comparison period from January 01, 2020, to December 31, 2020, is represented by the annual financial statements of ADSE GM. The accounting policies applied in these consolidated financial statements are the same as those applied in the comparison period as at and for the year ended December 31, 2021. Other accounting standards issued by the IASB that are not yet applied or that become effective in the future are not expected to have any material impact on the consolidated financial statements.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Principles of presentation</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The reporting period corresponds to the calendar year. The consolidated financial statements are presented in Euro, which is ADSE’s functional currency. All amounts have been rounded to the nearest thousand, unless otherwise indicated. In some cases, rounding could mean that values in this report do not add up to the exact sum given or percentages do not equal the values presented.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Presentation in the consolidated financial statements differentiate between current and non-current assets and liabilities. Assets and liabilities are generally classified as current if they are expected to be realized or settled within one year. Deferred tax assets and liabilities are generally presented as non-current items. The consolidated statement of comprehensive income is presented using the cost-of-sales method.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ADSE has prepared the consolidated financial statements on a going concern basis, which assumes that ADSE will be able to discharge its liabilities. Management has a reasonable expectation that ADSE has and will have adequate resources to continue in operational existence for the foreseeable future. For further information also refer to note 1.4.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ADSE operates its business based on its two operating segments (Europe and North America) which also form the basis for segment reporting (see note 5).</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The consolidated financial statements were authorized by management on May 10, 2023.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Principles of measurement</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The consolidated financial statements have been prepared on the historical-cost basis unless otherwise indicated. A corresponding explanation is provided in the context of the respective accounting policies.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Principles of consolidation</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The consolidated financial statements comprise the statement of ADSE Holdco, its subsidiaries and associates as at December 31, 2022. Subsidiaries are entities controlled by ADSE Holdco. An entity is controlled if ADSE Holdco is exposed to variable returns from its involvement within the entity and has entitlements to these. Control also exists if the parent company has the ability to affect the returns through its power over the entity. In assessing control, potential voting rights that currently are exercisable are considered. The annual financial statements of subsidiaries and associates are included in the consolidated financial statements from the date that control commences until the date that control ceases. The accounting policies of subsidiaries and associates have been changed when necessary to align them with the policies adopted by ADSE. Internal Group profits and losses, expenses, and revenues as well as receivables and liabilities are eliminated.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34pt; text-align: justify; text-indent: -34pt"> </p><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.2</td><td style="text-align: justify">New accounting standards and interpretations</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ADSE applied all the effective standards and interpretations issued by the IASB and the IFRIC for preparation of the consolidated financial statements if their application was required for annual periods beginning on or after January 01, 2022. However, none of the new accounting standards are expected to impact ADSE as they are either not relevant to ADSE’s activities or require accounting which is inconsistent with ADSE’s current accounting policies.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">New accounting standards and amendments to standards or interpretations effective as of January 01, 2022:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="padding-left: 0.125in; text-indent: -0.125in; border-bottom: Black 1.5pt solid; vertical-align: bottom; text-align: left; width: 20%"><p style="margin-left: 0.25in; text-indent: -0.25in; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"/><p style="margin-left: 0.25in; text-indent: -0.25in; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><b>Standard</b></p></td><td style="vertical-align: top; text-align: center; width: 1%; font-weight: bold"> </td> <td style="border-bottom: Black 1.5pt solid; vertical-align: bottom; text-align: center; width: 63%; font-weight: bold">Name</td><td style="vertical-align: top; text-align: center; width: 1%; font-weight: bold"> </td> <td style="border-bottom: Black 1.5pt solid; vertical-align: top; width: 15%; font-weight: bold; text-align: center">Effective date</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; vertical-align: top">IAS 16</td><td style="text-align: left; vertical-align: top"> </td> <td style="vertical-align: top; text-align: left">Property, plant and equipment: Proceeds before in-tended use - Amendments to IAS 16</td><td style="text-align: left; vertical-align: top"> </td> <td style="vertical-align: top; text-align: center">Jan. 01, 2022</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; vertical-align: top">IAS 37</td><td style="text-align: left; vertical-align: top"> </td> <td style="vertical-align: top; text-align: left">Amendments to IAS 37: Onerous contracts - cost of fulfilling a contract</td><td style="text-align: left; vertical-align: top"> </td> <td style="vertical-align: top; text-align: center">Jan. 01, 2022</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in; vertical-align: top; text-align: left">IAS 41, IFRS 1, IFRS 9, IFRS 16<br/> Annual improvements<br/> 2018 - 2020</td><td style="text-align: left; vertical-align: top"> </td> <td style="vertical-align: top; text-align: left">Annual improvements to IAS 41 - Agriculture, IFRS 1 - First-time adoption of IFRS, IFRS 9 - Financial instruments, IFRS 16 - Leases</td><td style="text-align: left; vertical-align: top"> </td> <td style="vertical-align: top; text-align: center">Jan. 01, 2022</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; vertical-align: top">IFRS 3</td><td style="text-align: left; vertical-align: top"> </td> <td style="vertical-align: top; text-align: left">Amendments to IFRS 3: Reference to the conceptual framework</td><td style="text-align: left; vertical-align: top"> </td> <td style="vertical-align: top; text-align: center">Jan. 01, 2022</td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The standards and amendments to standards and interpretations below have been published by the IASB but are not mandatorily effective for annual periods beginning on or after January 01, 2022 and therefore have not been early adopted in these consolidated financial statements by ADSE.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom; "> <td style="border-bottom: Black 1.5pt solid; padding-bottom: 1.5pt; width: 20%"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Standard</b></p></td><td style="padding-bottom: 1.5pt; width: 1%; font-weight: bold"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: center; width: 63%; font-weight: bold">Name</td><td style="padding-bottom: 1.5pt; width: 1%; font-weight: bold"> </td> <td style="border-bottom: Black 1.5pt solid; vertical-align: top; width: 15%; font-weight: bold; text-align: center">Effective date</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; vertical-align: top">IFRS 17</td><td style="text-align: left; vertical-align: top"> </td> <td style="vertical-align: top; text-align: left">Insurance contracts</td><td style="text-align: left; vertical-align: top"> </td> <td style="vertical-align: top; text-align: center">Jan. 01, 2023</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; vertical-align: top">IAS 8</td><td style="text-align: left; vertical-align: top"> </td> <td style="vertical-align: top; text-align: left">Amendments to IAS 8 – Accounting policies, changes in accounting estimates and errors: Definition of accounting estimates</td><td style="text-align: left; vertical-align: top"> </td> <td style="vertical-align: top; text-align: center">Jan. 01, 2023</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; vertical-align: top">IAS 12</td><td style="text-align: left; vertical-align: top"> </td> <td style="vertical-align: top; text-align: left">Amendments to IAS 12: Income Taxes: Deferred tax related to assets and liabilities arising from a single transaction</td><td style="text-align: left; vertical-align: top"> </td> <td style="vertical-align: top; text-align: center">Jan. 01, 2023</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; vertical-align: top">IFRS 16</td><td style="text-align: left; vertical-align: top"> </td> <td style="vertical-align: top; text-align: left">Amendments to IFRS 16 – Leases: Liability in a sale and leaseback</td><td style="text-align: left; vertical-align: top"> </td> <td style="vertical-align: top; text-align: center">Jan. 01, 2024</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; vertical-align: top">IAS 1</td><td style="text-align: left; vertical-align: top"> </td> <td style="vertical-align: top; text-align: left">Amendments to IAS 1: Presentation of financial statements: Classification of liabilities as current or non-current</td><td style="text-align: left; vertical-align: top"> </td> <td style="vertical-align: top; text-align: center">Jan. 01, 2024</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; vertical-align: top">IAS 1</td><td style="text-align: left; vertical-align: top"> </td> <td style="vertical-align: top; text-align: left">Amendments to IAS 1: Presentation of financial statements: Non-current liabilities with covenants</td><td style="text-align: left; vertical-align: top"> </td> <td style="vertical-align: top; text-align: center">Jan. 01, 2024</td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3</td><td style="text-align: justify">Significant accounting policies</td></tr></table><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34pt; text-indent: -34pt"> </p><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.1</td><td>Revenue from contracts with customers</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ADSE develops, produces, and distributes battery storage and charging solutions for different areas of applications. ADSE is already generating revenues from its products in the field of highly efficient battery storage solutions and ultra-high power rapid charging systems. The product portfolio ranges from the field “residential” which includes small storage solutions, to the field “industrial” including power ranges up to multiple MW/MWh, as well as to the field “charging” which provides charging solutions for the expansion of the eMobility infrastructure at power-limited network points. Additionally, ADSE provides its customers with software solutions regarding intelligent controlling and monitoring of battery storage solutions. Other revenues include for example separately acquirable service contracts or maintenance services.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Revenue is measured based on the consideration to which ADSE expects to be entitled in a contract with a customer and excludes amounts collected on behalf of third parties. If a contract with a customer contains more than one performance obligation the transaction price is allocated to each performance obligation on a relative-stand-alone selling price basis. ADSE has generally concluded that it acts as the principal in its revenue arrangements because it typically controls the goods or services before transferring them to the customer.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In the contracts with customers, ADSE usually promises to fulfill one performance obligation, the delivery of a promised good. In some cases, there can also be contracts with either a series of separate performance obligations (serial delivery of products) or two promises in a contract (development services and delivery of products) that are combined into one performance obligation.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">According to IFRS 15, ADSE recognizes revenue when it transfers the control of a good or service to a customer. The decision if control is transferred at a point in time or over a period of time requires discretionary decisions. Revenue from the delivery of products is recognized at a point in time. Revenue from development activities in combination with the delivery of products is recognized over time over the term of the contract.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Most of revenue from contracts with customers recognized by ADSE is made within the revenue stream “Charging” (see Note 4.1.1 for more information). This revenue stream mainly includes the production and delivery of ChargeBox (CBX) and ChargePost (CPT). Revenue for the CBX and CPT is recognized once the product is transferred to the customer. For the years ended December 31, 2021, and December 31, 2020, revenue for the CBX also includes development cost contributions made by the customer. These cost contributions are also recognized in accordance with the delivery of the CBX. Additionally, for the year ended December 31, 2020, the revenue stream “Charging” includes the delivery of a Chargetrailer system in the form of a truck trailer. The revenue for the truck trailer is recognized over time. The stage of completion for each contract is determined by the ratio of costs incurred to expected total costs (cost-to-cost method).</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Further information on the nature and timing of the settlement of performance obligations arising from contracts with customers, including significant terms and conditions of payment, and the related revenue recognition principles are described in note 4.1.1.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A significant number of contracts are negotiated on a bill and hold basis. In such arrangements revenue is recognized even though ADSE still has physical possession only if:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">the arrangement is substantive (i.e. requested by the customer),</td></tr><tr style="vertical-align: top"> <td> </td><td> </td><td style="text-align: justify"> </td></tr> </table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">the finished goods have been identified separately as belonging to the customer,</td></tr><tr style="vertical-align: top"> <td> </td><td> </td><td style="text-align: justify"> </td></tr> </table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">the product is ready for physical transfer to the customer, and</td></tr><tr style="vertical-align: top"> <td> </td><td> </td><td style="text-align: justify"> </td></tr> </table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">ADSE does not have the ability to use the product to direct it to another customer.</td></tr></table><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34pt; text-indent: -34pt"> </p><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.2</td><td>Financial expenses</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Finance cost of ADSE includes interest expense from loans and borrowings. Interest expense is recognized in the financial statement of the period in which it is incurred.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.3</td><td>Intangible assets</td></tr></table><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Separately acquired intangible Assets</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Intangible assets with finite useful lives that are acquired separately are carried at cost less accumulated amortization and accumulated impairment losses. Amortization is recognized on a straight-line basis over their estimated useful lives. The estimated useful life and amortization method are reviewed at the end of each reporting period, with the effect of any changes in estimate being accounted for on a prospective basis. Intangible assets with indefinite useful lives that are acquired separately are carried at cost less accumulated impairment losses.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">An intangible asset shall be derecognized on disposal or when no further economic benefits are expected from its use or disposal. The gain or loss arising from derecognition of an intangible asset, measured as the difference between the net disposal proceeds and the carrying amount of the asset, are recognized in the income statement when the asset is derecognized. This is recognized under other income or other expenses.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Subsequent expenditure is capitalized only when it increases the future economic benefits embodied in the specific asset to which it relates. All other expenditure, including expenditure on internally generated goodwill and brands, is recognized in profit or loss as incurred.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Internally generated intangible assets</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In developing highly efficient battery storage solutions and high-power-charging systems for electric vehicles, ADSE is incurring significant research and development costs.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Expenditure on research activities is recognized in profit or loss as incurred.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">An internally generated intangible asset arising from development (this is essentially the case for software applications) is recognized if, and only if, all of the following conditions have been demonstrated:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"/><td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify">the technical feasibility of completing the intangible asset so that it will be available for use or sale;</td> </tr><tr style="vertical-align: top; text-align: justify"> <td> </td><td style="text-align: left"> </td><td style="text-align: justify"> </td></tr> </table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"/><td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify">the intention to complete the intangible asset and use or sell it;</td> </tr><tr style="vertical-align: top; text-align: justify"> <td> </td><td style="text-align: left"> </td><td style="text-align: justify"> </td></tr> </table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"/><td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify">the ability to use or sell the intangible asset;</td> </tr><tr style="vertical-align: top; text-align: justify"> <td> </td><td style="text-align: left"> </td><td style="text-align: justify"> </td></tr> </table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"/><td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify">how the intangible asset will generate probable future economic benefits;</td> </tr><tr style="vertical-align: top; text-align: justify"> <td> </td><td style="text-align: left"> </td><td style="text-align: justify"> </td></tr> </table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">the availability of adequate technical, financial and other resources to complete the development and to use or sell the intangible asset; and</td></tr><tr style="vertical-align: top"> <td> </td><td> </td><td style="text-align: justify"> </td></tr> </table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">the ability to measure reliably the expenditure attributable to the intangible asset during its development.</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The amount initially recognized for internally generated intangible assets is the sum of the expenditure incurred from the date when the intangible asset first meets the recognition criteria listed above. Where no internally generated intangible asset can be recognized, development expenditure is recognized in profit or loss in the period in which it is incurred.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Subsequent to initial recognition, internally generated intangible assets are reported at cost less accumulated amortization and accumulated impairment losses, on the same basis as intangible assets that are acquired separately.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">An intangible asset is derecognized on disposal, or when no future economic benefits are expected from use or disposal. Gains or losses arising from derecognition of an intangible asset, measured as the difference between the net disposal proceeds and the carrying amount of the asset and are recognized in profit or loss when the asset is derecognized. This is recognized under other income or other expenses.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ADSE has already carried out successful research and development projects from which a work result in the form of a tangible or intangible asset has arisen. The management of ADSE recognizes an interest for the supply of ultra-high charging stations in limited-power distribution grids. The self-developed technology for ultra-high charging has already reached market maturity and is actively marketed. Consequently, ADSE has capitalized development costs regarding the technology in its CBX. The product resulting from the development performance is considerably more space-saving compared to conventional products of this type and is future-proof in the field of electromobility due to its compatibility with high-voltage areas.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ADSE developed the product ChargeTrailer, a powerful mobile ultra-high-power charging system in the form of a truck trailer. The product resulting from the development performance has a much higher charging power compared to conventional products of this type and is also future-proof due to the variable current and voltage ranges. ADSE has not capitalized development costs as the product was specifically designed for one customer.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In addition, ADSE has capitalized development costs regarding the self-developed technology for ultra-high charging in its CPT. The product is a battery-buffered ultra-fast charging station and is able to offer ultra-high charging capacity even if the power grid does not provide the desired power. CPT enables off-grid charging and takes ultra-fast charging to a higher level.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ADSE continues to pursue the consistent development of products in the field of highly efficient battery storage solutions and ultra-high power rapid charging systems. ADSE aims to be a pioneer in its business field through the research and development activities. The costs for the development of specific products will be capitalized when the criteria for the recognition as an intangible asset are fulfilled.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The estimated useful lives for current and comparative periods are as follows:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; white-space: nowrap; font-weight: bold; text-align: center">Useful life <br/> in years</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 88%; padding-bottom: 1.5pt">Software</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: center">3</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">ChargeBox (CBX)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: center">7</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">ChargePost (CPT)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: center">7</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.4</td><td>Leases</td></tr></table><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ADSE as a lessee</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">At inception of a contract, ADSE assesses whether a contract is, or contains, a lease. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ADSE recognizes a right-of-use asset and a lease liability at the lease commencement date. None of the leasing contracts started before the date of transition. The right-of-use asset is initially measured at cost, which comprises the initial amount of the lease liability adjusted for any lease payments made at or before the commencement date, plus, if applicable, any initial direct costs incurred and an estimate of costs to dismantle and remove the underlying asset or to restore the underlying asset or the site on which it is located, less any lease incentives received.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The right-of-use asset is subsequently depreciated using the straight-line method from the commencement date to the end of the lease term unless the lease transfers ownership of the underlying asset to ADSE by the end of the lease term or the cost of the right-of-use asset reflects that ADSE will exercise a purchase option. In that case the right-of-use asset will be depreciated over the useful life of the underlying asset, which is determined on the same basis as those of property and equipment. In addition, the right-of-use asset is periodically reduced by impairment losses, if any, and adjusted for certain remeasurements of the lease liability.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, ADSE’s incremental borrowing rate.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ADSE determines its incremental borrowing rate by obtaining interest rates from external financing sources and makes certain adjustments to reflect the terms of the lease and type of the asset leased.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Lease payments included in the measurement of the lease liability comprise the following:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">fixed payments, including in-substance fixed payments;</td></tr><tr style="vertical-align: top"> <td> </td><td> </td><td style="text-align: justify"> </td></tr> </table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">variable lease payments that depend on an index or a rate, initially measured using the index or rate as at the commencement date;</td></tr><tr style="vertical-align: top"> <td> </td><td> </td><td style="text-align: justify"> </td></tr> </table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">amounts expected to be payable under a residual value guarantee; and</td></tr><tr style="vertical-align: top"> <td> </td><td> </td><td style="text-align: justify"> </td></tr> </table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 17.85pt"/><td style="width: 17.85pt">●</td><td style="text-align: justify">the exercise price under a purchase option that ADSE is reasonably certain to exercise, lease payments in an optional renewal period if ADSE Energy is reasonably certain to exercise an extension option, and penalties for early termination of a lease unless ADSE is reasonably certain not to terminate early.</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The lease liability is measured at amortized cost using the effective interest method. It is remeasured when there is a change in future lease payments arising from a change in an index or rate, if there is a change in ADSE’s estimate of the amount expected to be payable under a residual value guarantee, if ADSE changes its assessment of whether it will exercise a purchase, extension, or termination option or if there is a revised in-substance fixed lease payment.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">When the lease liability is remeasured in this way, a corresponding adjustment is made to the carrying amount of the right-of-use asset or is recorded in profit or loss if the carrying amount of the right-of-use asset has been reduced to zero.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ADSE has elected not to recognize right-of-use assets and lease liabilities for leases of low-value assets and short-term leases. ADSE recognizes the lease payments associated with these leases as an expense on a straight-line basis over the lease term.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The estimated useful lives of right-of-use assets for property and vehicles for current and comparative periods are as follows:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b> </b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b> </b></p></td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 1.5pt solid; white-space: nowrap; font-weight: bold; text-align: center">Useful life <br/> in years</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 50%; text-align: left">Property (Right-of-use assets)</td><td style="width: 1%"> </td> <td style="width: 9%; text-align: center">1-10</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Vehicles (Right-of-use assets)</td><td> </td> <td style="text-align: center">1-4</td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.5</td><td>Property, plant, and equipment</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Items of property, plant, and equipment are measured at cost less accumulated depreciation and any accumulated impairment losses.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If significant parts of an item of property, plant and equipment have different useful lives, then they are accounted for as separate items (major components) of property, plant, and equipment.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Any gain or loss on disposal of an item of property, plant and equipment is recognized in profit or loss.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Subsequent expenditure is capitalized only if it is probable that the future economic benefits associated with the expenditure will flow to ADSE. All other expenditure for property, plant and equipment is recognized immediately as an expense.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Depreciation is calculated to write off the cost of items of property, plant, and equipment less their estimated residual values using the straight-line method over their estimated useful lives and is generally recognized in profit or loss.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The estimated useful lives of property, plant, and equipment for current and comparative periods are as follows:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; white-space: nowrap; font-weight: bold; text-align: center">Useful life <br/> in years</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 88%">Vehicles</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: center">6</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Other equipment, operating and office equipment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: center"><span style="font-size: 10pt">3-14</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Technical equipment and machinery</td><td> </td> <td style="text-align: left"> </td><td style="text-align: center">20</td><td style="text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Depreciation methods, useful lives and residual values are reviewed at each reporting date and adjusted if appropriate.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Property, plant, and equipment is derecognized upon disposal or when no future economic benefits are expected from the continued use of the asset. The gain or loss arising from the sale or retirement of a property, plant and equipment is determined as the difference between the proceeds from the sale and the carrying amount of the asset and is recognized in profit or loss under the other income or other expenses.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34pt; text-indent: -34pt"> </p><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.6</td><td>Inventories</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Inventories are measured at the lower of cost and net realizable value. The cost of inventories is based on the weighted average cost principle. In the case of manufactured inventories, cost includes an appropriate share of production overheads based on normal operating capacity.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The subsequent valuation of cost of raw materials and supplies, work in progress and finished goods within ADSE is assigned using the weighted average cost method. In order to ensure an appropriate measurement of inventories, ADSE performs a continuous evaluation of the lifecycle of inventories, i.e. whether inventories have not been sold or used for a long period of time and are not be expected to be sold in the future. For the determination of the net realizable value of inventories, we determine a write-off percentage based on historical and forecasted usage and sales. Based on our continuous observation of inventory trends, a write-off for obsolete inventory is applied.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34pt; text-indent: -34pt"> </p><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.7</td><td>Contract assets and contract liabilities</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A contract asset represents the right to compensation in return for goods or development services that ADSE has transferred to a customer. In addition, this right depends on something other than the expiry of a certain period. If the right to remuneration is unconditional, a receivable is recognized. A contract asset occurs, for example, if ADSE has already incurred an expense for development for a customer within the development and production of goods, but the customer's payment plan has not yet covered this expense.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The contract balance may change during the contract term between contract asset and contract liability depending on whether ADSE or the customer is behind with performance.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Due to the fact that ADSE develops and produces goods for its customers it is possible that either a contract asset, a receivable or a contract liability arises, depending on whether ADSE has an obligation to provide services to a customer for which it has already received payments or for which payment is due or vice versa. A contractual liability represents the obligation to provide development and production of goods to a customer for which ADSE has already received remuneration or for which payment is due according to the agreed payment plan. Also included in contract liabilities are performance obligations regarding extended warranties.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34pt; text-indent: -34pt"> </p><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.8</td><td>Cash and cash equivalents</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Cash and bank balances in the statement of financial position comprises cash on hand and cash at banks including restricted cash.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.9</td><td>Financial instruments</td></tr></table><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34pt; text-indent: -34pt"> </p><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.9.1</td><td>Financial assets</td></tr></table><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Recognition and initial measurement</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Trade receivables are initially recognized when they are originated. Financial assets and financial liabilities are initially recognized when ADSE becomes a party to the contractual provisions of the instrument.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A financial asset (unless it is a trade receivable without a significant financing component) or financial liability is initially measured at fair value plus or minus, for an item not at fair value through profit or loss (FVTPL), transaction costs that are directly attributable to its acquisition or issue. A trade receivable without a significant financing component is initially measured at the transaction price.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Classification, subsequent measurement, impairment and derecognition</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On initial recognition, a financial asset is classified as measured at: amortized cost (FAAC); at fair value through other comprehensive income (FVOCI – debt investment or FVOCI – equity investment); or at fair value through profit or loss (FVTPL).</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Financial assets are not reclassified subsequent to their initial recognition unless ADSE changes its business model for managing financial assets, in which case all affected financial assets are reclassified on the first day of the first reporting period following the change in the business model.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Financial assets at amortized cost are subsequently measured using the effective interest rate method. The amortized cost is reduced by impairment losses. Interest income, foreign exchange gains and losses and impairment are recognized in profit or loss. Any gain or loss on derecognition is recognized in profit or loss.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ADSE derecognizes a financial asset when the contractual rights to the cash flows from the financial asset expire, or it transfers the rights to receive the contractual cash flows in a transaction in which substantially all of the risks and rewards of ownership of the financial asset are transferred or in which ADSE neither transfers nor retains substantially all of the risks and rewards of ownership and it does not retain control of the financial asset.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ADSE recognizes loss allowances for expected credit losses (ECLs) on:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">financial assets measured at amortized cost, and</td></tr><tr style="vertical-align: top"> <td> </td><td> </td><td style="text-align: justify"> </td></tr> </table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 17.85pt"/><td style="width: 17.85pt">●</td><td style="text-align: justify">contract assets.</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ADSE measures loss allowances at an amount equal to lifetime ECLs (simplified approach).</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">When determining whether the credit risk of a financial asset has increased significantly since initial recognition and when estimating ECLs, ADSE considers reasonable and supportable information that is relevant and available without undue cost or effort, this includes both quantitative and qualitative information and analysis.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Impairment losses for financial assets measured at amortized cost are recognized in an impairment account (loss allowance). Loss allowances are deducted from the gross carrying amount of the assets. Changes in the carrying amount of the loss allowance are recognized in profit or loss.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34pt; text-indent: -34pt"> </p><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.9.2</td><td>Financial liabilities</td></tr></table><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Recognition and initial measurement</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Financial liabilities not at fair value through profit or loss (FVTPL) are initially measured at fair value plus or minus transaction costs that are directly attributable to its acquisition or issue.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Classification, subsequent measurement, and derecognition</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Financial liabilities are classified as measured at amortized cost (FLAC) or FVTPL. A financial liability is classified as at FVTPL if it is classified as held-for-trading, it is a derivative or it is designated as such on initial recognition. Financial liabilities at FVTPL are measured at fair value and net gains and losses, including any interest expense, are recognized in profit or loss. They are subsequently measured at amortized cost using the effective interest method. Interest expense and foreign exchange gains and losses are recognized in profit or loss. Any gain or loss on derecognition is also recognized in profit or loss.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ADSE derecognizes a financial liability when its contractual obligations are discharged or cancelled or expire. ADSE also derecognizes a financial liability when its terms are modified and the cash flows of the modified liability are substantially different, in which case a new financial liability based on the modified terms is recognized at fair value.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Financial assets and financial liabilities are offset, and the net amount presented in the statement of financial position when, and only when, ADSE currently has a legally enforceable right to set off the amounts and it intends either to settle them on a net basis or to realize the asset and settle the liability simultaneously.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34pt; text-indent: -34pt"> </p><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.10</td><td>Taxes</td></tr></table><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34pt; text-indent: -34pt"> </p><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.10.1</td><td>Income taxes</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Income taxes are comprised of current and deferred tax based on the appropriate tax rates. Current and deferred taxes are recognized in profit or loss except to the extent that they directly relate to items recorded in equity or other comprehensive income. Income tax receivables and payables recorded comprise the status of amounts to be received, respectively to be paid in the future</span>.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34pt; text-indent: -34pt"> </p><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.10.2</td><td>Current tax</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Current tax comprises the expected tax payables or receivables on the taxable income for the year and any adjustment to the tax payables or receivables in respect of previous years. The amount of current tax payables or receivables is the best estimate of the tax amount expected to be paid or received that reflects uncertainty related to income taxes, if any. It is measured using tax rates enacted or substantively enacted at the reporting date in the countries where the Company and its subsidiaries operate and generate taxable income. During the ordinary course of the business, there are transactions and calculations for which the ultimate tax determination is uncertain. Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation and considers whether it is probable that a taxation authority will accept an uncertain tax treatment. This assessment relies on estimated and assumptions and may involve a series of complex judgments about future events. To the extent that the final tax outcome of these matters is different that the amounts recorded, such differences will impact income tax expense in the period in which such determination is made.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Current tax assets and liabilities are offset only if certain criteria are met.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34pt; text-indent: -34pt"> </p><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.10.3</td><td>Deferred taxes</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Deferred taxes are recognized in respect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Deferred taxes are not recognized for:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">temporary differences on the initial recognition of assets or liabilities in a transaction that is not a business combination and that affects neither accounting nor taxable profit or loss;</td></tr><tr style="vertical-align: top"> <td> </td><td> </td><td style="text-align: justify"> </td></tr> </table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 17.85pt"/><td style="width: 17.85pt">●</td><td style="text-align: justify">temporary differences related to investments in subsidiaries, associates, and joint arrangements to the extent that the entity is able to control the timing of the reversal of the temporary differences and it is probable that they will not reverse in the foreseeable future.</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Deferred tax assets are recognized for unused tax losses and deductible temporary differences to the extent that it is probable that future taxable profits will be available against which they can be utilized. Future taxable profits are determined based on the reversal of relevant taxable temporary differences. If the amount of taxable temporary differences is insufficient to recognize a deferred tax asset in full, future taxable profits are considered, based on the business plans the entity.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Deferred tax assets are reviewed at each reporting date and are reduced if it is no longer probable that the related tax benefit will be realized. Unrecognized deferred tax assets are reassessed at each reporting date and recognized to the extent that it has become probable that future taxable profits will be available against which they can be utilized.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Deferred taxes are measured at the tax rates that are expected to be applied to temporary differences when they reverse, using tax rates enacted or substantively enacted at the reporting date, and reflects uncertainty related to income taxes, if any.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Deferred tax assets and liabilities are offset if certain criteria are met.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34pt; text-indent: -34pt"> </p><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.11</td><td>Share-based payments</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ADSE’s management, members of the board of directors, employees and others providing similar services to ADSE receive remuneration in the form of share-based payments, which are equity-settled transactions. ADSE’s equity-settled option plans are described in detail in note 4.3 and include restricted stock units (RSU) and non-qualified stock options (NQSO).</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The costs of equity-settled transactions are determined by the fair value at grant date, using an appropriate valuation model. Share-based expenses for the respective vesting periods are recognized in general and administrative expenses, reflecting a corresponding increase in equity.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34pt; text-indent: -34pt"> </p><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.12</td><td>Provisions</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A provision is a liability of uncertain timing or amount. Provisions are recognized if ADSE has a present obligation to a third party based on a past event, an outflow of resources to settle the obligation is probable and the amount of the obligation can be reliably estimated. Provisions are discounted if the effect is material.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Provisions where the outflow of resources is likely to occur within the next year are classified as current, and all other provisions as non-current.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the liability. The unwinding of the discount is recognized as finance cost.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A provision for warranties is recognized when the underlying products or services are sold, based on historical warranty data and a weighting of possible outcomes against their associated probabilities.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34pt; text-indent: -34pt"> </p><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.13</td><td>Impairment of non-financial assets</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">At each reporting date, ADSE reviews the carrying amounts of its non-financial assets (other than inventories, contract assets and deferred tax assets) to determine whether there is any indication of impairment. If any such indication exists, then the asset’s recoverable amount is estimated.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For impairment testing, assets are grouped together into the smallest group of assets that generates cash inflows from continuing use that are largely independent of the cash inflows of other assets or cash generating units (CGU).</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Typically, the CGUs are represented by the segments and the impairment test is performed at the level of this CGU. ADSE manages its operations based on two operating segments which also form the CGUs of the Company.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The recoverable amount of an asset or CGU is the greater of its value in use and its fair value less costs to sell. Value in use is based on the estimated future cash flows, discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset or CGU.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">An impairment loss is recognized if the carrying amount of an asset or CGU exceeds its recoverable amount.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Impairment losses are recognized in profit or loss. They are allocated first to reduce the carrying amount of any goodwill allocated to the CGU, and then to reduce the carrying amounts of the other assets in the CGU on a pro rata basis.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">An impairment loss in respect of goodwill is not reversed. For other assets, an impairment loss is reversed only to the extent that the asset’s carrying amount does not exceed the carrying amount that would have been determined, net of depreciation or amortization, if no impairment loss had been recognized.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Impairments and any triggering events did not occur in the reporting period.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34pt; text-indent: -34pt"> </p><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.14</td><td>Foreign currency transactions</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The consolidated financial statements are presented in Euro, which is the functional and presentation currency of ADSE Holdco. Assets and liabilities of foreign operations are translated into Euro at the rate of exchange prevailing at the reporting date. The consolidated statement of comprehensive income is translated at average exchange rates. The currency translation differences are recognized in other comprehensive income or loss. Transactions in foreign currencies are initially recorded by ADSE‘s entities at their respective functional currency spot rates, at the date the transaction first qualifies for recognition. ADSE used the following exchange rates to convert the financial statements of ADSE US:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31, 2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Spot rate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Average<br/> rate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left; padding-left: 2.85pt">Euro per U.S. Dollar</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1.0666</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1.0530</td><td style="width: 1%; text-align: left"> </td></tr> </table><p style="margin: 0"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31, 2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Spot rate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Average<br/> rate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Euro per U.S. Dollar</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1.1326</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1.1827</td><td style="width: 1%; text-align: left"> </td></tr> </table><p style="margin: 0"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 22, 2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Spot rate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Average <br/> rate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Euro per U.S. Dollar</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1.1301</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-104">-</div></td><td style="width: 1%; text-align: left"> </td></tr> </table><p style="margin: 0"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Sep. 15 - Dec. 31, 2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Spot rate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Average<br/> rate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Euro per U.S. Dollar</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-105">-</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1.1478</td><td style="width: 1%; text-align: left"> </td></tr> </table><p style="margin: 0"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Dec. 23-31, 2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Spot rate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Average<br/> rate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Euro per U.S. Dollar</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-106">-</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1.1319</td><td style="width: 1%; text-align: left"> </td></tr> </table><p style="margin: 0"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Nov. 1 - Dec. 31, 2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Spot rate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Average<br/> rate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Euro per U.S. Dollar</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-107">-</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1.1358</td><td style="width: 1%; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Spot rate as of December 31, 2022, is used to translate the balance sheet of ADSE US.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Average rate September 15, - December 31, 2021, which corresponds to the incorporation period, is used to translate the expenses incurred by ADSE US.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Spot rate as of December 22, 2021, is used to translate the balance sheet of EUSG (USA) on the date of the merger with ADSE Holdco.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Average rate November 1 – December 31, 2021, is used to translate the USD expenses incurred by EUSG in the corresponding period.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Average rate December 23 - 31, 2021, is used to convert the USD expenses incurred by the Company in the corresponding period.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34pt; text-indent: -34pt"> </p><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.15</td><td>Earnings per share</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Basic earnings per share (EPS) is calculated by dividing the profit for the year attributable to ordinary equity holders of the ADSE Holdco by the weighted average number of ordinary shares outstanding during the reporting period.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Restricted stock units and non-qualified stock options have been included in the calculation of diluted weighted average number of shares outstanding. These restricted stock units and non-qualified stock options could potentially dilute basic earnings per share in the future.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Also refer to section 4.1.8 for further information on the calculation of basic and diluted earnings per share.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34pt; text-indent: -34pt"> </p><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.16</td><td>Fair value measurement</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value measurement is based on the presumption that the transaction to sell the asset or transfer the liability takes place either:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">in the principal market for the asset or liability; or</td></tr><tr style="vertical-align: top"> <td> </td><td> </td><td style="text-align: justify"> </td></tr> </table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 17.85pt"/><td style="width: 17.85pt">●</td><td style="text-align: justify">in the absence of a principal market, in the most advantageous market for the asset or liability</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The principal or the most advantageous market must be accessible by ADSE. The fair value of a liability reflects its non-performance risk.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The fair value of an asset or a liability is measured using the assumptions that market participants would use when pricing the asset or liability, assuming that market participants act in their economic best interest.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A fair value measurement of a non-financial asset considers a market participant's ability to generate economic benefits by using the asset in its highest and best use or by selling it to another market participant that would use the asset in its highest and best use.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ADSE uses valuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure fair value, maximizing the use of relevant observable inputs and minimizing the use of unobservable inputs.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorized within the fair value hierarchy, described as follows, based on the lowest level input that is significant to the fair value measurement as a whole:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">Level 1 - Quoted (unadjusted) market prices in active markets for identical assets or liabilities,</td></tr><tr style="vertical-align: top"> <td> </td><td> </td><td style="text-align: justify"> </td></tr> </table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">Level 2 - Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indirectly observable, and</td></tr><tr style="vertical-align: top"> <td> </td><td> </td><td style="text-align: justify"> </td></tr> </table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 17.85pt"/><td style="width: 17.85pt">●</td><td style="text-align: justify">Level 3 - Valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable.</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For assets and liabilities that are recognized in the financial statements at fair value on a recurring basis, ADSE determines whether transfers have occurred between levels in the hierarchy by re-assessing categorization (based on the lowest level input that is significant to the fair value measurement as a whole) at the end of each reporting period.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For the purpose of fair value disclosures, ADSE has determined classes of assets and liabilities on the basis of the nature, characteristics and risks of the asset or liability and the level of the fair value hierarchy, as explained above.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34pt; text-indent: -34pt"> </p><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.17</td><td>Government grants</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Government grants related to assets are deducted from the carrying amount of the asset and are recognized in earnings over the life of a depreciable asset as a reduced depreciation expense. Government grants which compensate ADSE for expenses are recognized as other operating income in the same period as the expenses themselves.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34pt; text-indent: -34pt"> </p><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.18</td><td>Reclassifications</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Certain prior period amounts have been reclassified to conform to current year financial statement presentation. These reclassifications had no effect on reported income (loss), comprehensive income (loss), cash flows, or shareholders’ equity as previously reported.</p>

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Description Of Accounting Policy For Recognition Of Revenue

DescriptionOfAccountingPolicyForRecognitionOfRevenue

<table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.1</td><td>Revenue from contracts with customers</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ADSE develops, produces, and distributes battery storage and charging solutions for different areas of applications. ADSE is already generating revenues from its products in the field of highly efficient battery storage solutions and ultra-high power rapid charging systems. The product portfolio ranges from the field “residential” which includes small storage solutions, to the field “industrial” including power ranges up to multiple MW/MWh, as well as to the field “charging” which provides charging solutions for the expansion of the eMobility infrastructure at power-limited network points. Additionally, ADSE provides its customers with software solutions regarding intelligent controlling and monitoring of battery storage solutions. Other revenues include for example separately acquirable service contracts or maintenance services.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Revenue is measured based on the consideration to which ADSE expects to be entitled in a contract with a customer and excludes amounts collected on behalf of third parties. If a contract with a customer contains more than one performance obligation the transaction price is allocated to each performance obligation on a relative-stand-alone selling price basis. ADSE has generally concluded that it acts as the principal in its revenue arrangements because it typically controls the goods or services before transferring them to the customer.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In the contracts with customers, ADSE usually promises to fulfill one performance obligation, the delivery of a promised good. In some cases, there can also be contracts with either a series of separate performance obligations (serial delivery of products) or two promises in a contract (development services and delivery of products) that are combined into one performance obligation.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">According to IFRS 15, ADSE recognizes revenue when it transfers the control of a good or service to a customer. The decision if control is transferred at a point in time or over a period of time requires discretionary decisions. Revenue from the delivery of products is recognized at a point in time. Revenue from development activities in combination with the delivery of products is recognized over time over the term of the contract.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Most of revenue from contracts with customers recognized by ADSE is made within the revenue stream “Charging” (see Note 4.1.1 for more information). This revenue stream mainly includes the production and delivery of ChargeBox (CBX) and ChargePost (CPT). Revenue for the CBX and CPT is recognized once the product is transferred to the customer. For the years ended December 31, 2021, and December 31, 2020, revenue for the CBX also includes development cost contributions made by the customer. These cost contributions are also recognized in accordance with the delivery of the CBX. Additionally, for the year ended December 31, 2020, the revenue stream “Charging” includes the delivery of a Chargetrailer system in the form of a truck trailer. The revenue for the truck trailer is recognized over time. The stage of completion for each contract is determined by the ratio of costs incurred to expected total costs (cost-to-cost method).</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Further information on the nature and timing of the settlement of performance obligations arising from contracts with customers, including significant terms and conditions of payment, and the related revenue recognition principles are described in note 4.1.1.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A significant number of contracts are negotiated on a bill and hold basis. In such arrangements revenue is recognized even though ADSE still has physical possession only if:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">the arrangement is substantive (i.e. requested by the customer),</td></tr><tr style="vertical-align: top"> <td> </td><td> </td><td style="text-align: justify"> </td></tr> </table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">the finished goods have been identified separately as belonging to the customer,</td></tr><tr style="vertical-align: top"> <td> </td><td> </td><td style="text-align: justify"> </td></tr> </table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">the product is ready for physical transfer to the customer, and</td></tr><tr style="vertical-align: top"> <td> </td><td> </td><td style="text-align: justify"> </td></tr> </table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">ADSE does not have the ability to use the product to direct it to another customer.</td></tr></table><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34pt; text-indent: -34pt"> </p>

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Description Of Accounting Policy For Financial Instruments Explanatory

DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory

<table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.2</td><td>Financial expenses</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Finance cost of ADSE includes interest expense from loans and borrowings. Interest expense is recognized in the financial statement of the period in which it is incurred.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>

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Disclosure Of Intangible Assets Explanatory

DisclosureOfIntangibleAssetsExplanatory

<table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.3</td><td>Intangible assets</td></tr></table><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Separately acquired intangible Assets</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Intangible assets with finite useful lives that are acquired separately are carried at cost less accumulated amortization and accumulated impairment losses. Amortization is recognized on a straight-line basis over their estimated useful lives. The estimated useful life and amortization method are reviewed at the end of each reporting period, with the effect of any changes in estimate being accounted for on a prospective basis. Intangible assets with indefinite useful lives that are acquired separately are carried at cost less accumulated impairment losses.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">An intangible asset shall be derecognized on disposal or when no further economic benefits are expected from its use or disposal. The gain or loss arising from derecognition of an intangible asset, measured as the difference between the net disposal proceeds and the carrying amount of the asset, are recognized in the income statement when the asset is derecognized. This is recognized under other income or other expenses.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Subsequent expenditure is capitalized only when it increases the future economic benefits embodied in the specific asset to which it relates. All other expenditure, including expenditure on internally generated goodwill and brands, is recognized in profit or loss as incurred.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Internally generated intangible assets</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In developing highly efficient battery storage solutions and high-power-charging systems for electric vehicles, ADSE is incurring significant research and development costs.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Expenditure on research activities is recognized in profit or loss as incurred.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">An internally generated intangible asset arising from development (this is essentially the case for software applications) is recognized if, and only if, all of the following conditions have been demonstrated:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"/><td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify">the technical feasibility of completing the intangible asset so that it will be available for use or sale;</td> </tr><tr style="vertical-align: top; text-align: justify"> <td> </td><td style="text-align: left"> </td><td style="text-align: justify"> </td></tr> </table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"/><td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify">the intention to complete the intangible asset and use or sell it;</td> </tr><tr style="vertical-align: top; text-align: justify"> <td> </td><td style="text-align: left"> </td><td style="text-align: justify"> </td></tr> </table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"/><td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify">the ability to use or sell the intangible asset;</td> </tr><tr style="vertical-align: top; text-align: justify"> <td> </td><td style="text-align: left"> </td><td style="text-align: justify"> </td></tr> </table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"/><td style="width: 0.25in; text-align: left">●</td><td style="text-align: justify">how the intangible asset will generate probable future economic benefits;</td> </tr><tr style="vertical-align: top; text-align: justify"> <td> </td><td style="text-align: left"> </td><td style="text-align: justify"> </td></tr> </table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">the availability of adequate technical, financial and other resources to complete the development and to use or sell the intangible asset; and</td></tr><tr style="vertical-align: top"> <td> </td><td> </td><td style="text-align: justify"> </td></tr> </table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">the ability to measure reliably the expenditure attributable to the intangible asset during its development.</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The amount initially recognized for internally generated intangible assets is the sum of the expenditure incurred from the date when the intangible asset first meets the recognition criteria listed above. Where no internally generated intangible asset can be recognized, development expenditure is recognized in profit or loss in the period in which it is incurred.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Subsequent to initial recognition, internally generated intangible assets are reported at cost less accumulated amortization and accumulated impairment losses, on the same basis as intangible assets that are acquired separately.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">An intangible asset is derecognized on disposal, or when no future economic benefits are expected from use or disposal. Gains or losses arising from derecognition of an intangible asset, measured as the difference between the net disposal proceeds and the carrying amount of the asset and are recognized in profit or loss when the asset is derecognized. This is recognized under other income or other expenses.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ADSE has already carried out successful research and development projects from which a work result in the form of a tangible or intangible asset has arisen. The management of ADSE recognizes an interest for the supply of ultra-high charging stations in limited-power distribution grids. The self-developed technology for ultra-high charging has already reached market maturity and is actively marketed. Consequently, ADSE has capitalized development costs regarding the technology in its CBX. The product resulting from the development performance is considerably more space-saving compared to conventional products of this type and is future-proof in the field of electromobility due to its compatibility with high-voltage areas.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ADSE developed the product ChargeTrailer, a powerful mobile ultra-high-power charging system in the form of a truck trailer. The product resulting from the development performance has a much higher charging power compared to conventional products of this type and is also future-proof due to the variable current and voltage ranges. ADSE has not capitalized development costs as the product was specifically designed for one customer.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In addition, ADSE has capitalized development costs regarding the self-developed technology for ultra-high charging in its CPT. The product is a battery-buffered ultra-fast charging station and is able to offer ultra-high charging capacity even if the power grid does not provide the desired power. CPT enables off-grid charging and takes ultra-fast charging to a higher level.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ADSE continues to pursue the consistent development of products in the field of highly efficient battery storage solutions and ultra-high power rapid charging systems. ADSE aims to be a pioneer in its business field through the research and development activities. The costs for the development of specific products will be capitalized when the criteria for the recognition as an intangible asset are fulfilled.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The estimated useful lives for current and comparative periods are as follows:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; white-space: nowrap; font-weight: bold; text-align: center">Useful life <br/> in years</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 88%; padding-bottom: 1.5pt">Software</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: center">3</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">ChargeBox (CBX)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: center">7</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">ChargePost (CPT)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: center">7</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>

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Disclosure Of Detailed Information About Intangible Assets Explanatory

DisclosureOfDetailedInformationAboutIntangibleAssetsExplanatory

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; white-space: nowrap; font-weight: bold; text-align: center">Useful life <br/> in years</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 88%; padding-bottom: 1.5pt">Software</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: center">3</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">ChargeBox (CBX)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: center">7</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">ChargePost (CPT)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: center">7</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>

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Useful Life Measured As Period Of Time Property Plant And Equipment

UsefulLifeMeasuredAsPeriodOfTimePropertyPlantAndEquipment

P7Y

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Disclosure Of Lease Prepayments Explanatory

DisclosureOfLeasePrepaymentsExplanatory

<table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.4</td><td>Leases</td></tr></table><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ADSE as a lessee</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">At inception of a contract, ADSE assesses whether a contract is, or contains, a lease. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ADSE recognizes a right-of-use asset and a lease liability at the lease commencement date. None of the leasing contracts started before the date of transition. The right-of-use asset is initially measured at cost, which comprises the initial amount of the lease liability adjusted for any lease payments made at or before the commencement date, plus, if applicable, any initial direct costs incurred and an estimate of costs to dismantle and remove the underlying asset or to restore the underlying asset or the site on which it is located, less any lease incentives received.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The right-of-use asset is subsequently depreciated using the straight-line method from the commencement date to the end of the lease term unless the lease transfers ownership of the underlying asset to ADSE by the end of the lease term or the cost of the right-of-use asset reflects that ADSE will exercise a purchase option. In that case the right-of-use asset will be depreciated over the useful life of the underlying asset, which is determined on the same basis as those of property and equipment. In addition, the right-of-use asset is periodically reduced by impairment losses, if any, and adjusted for certain remeasurements of the lease liability.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, ADSE’s incremental borrowing rate.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ADSE determines its incremental borrowing rate by obtaining interest rates from external financing sources and makes certain adjustments to reflect the terms of the lease and type of the asset leased.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Lease payments included in the measurement of the lease liability comprise the following:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">fixed payments, including in-substance fixed payments;</td></tr><tr style="vertical-align: top"> <td> </td><td> </td><td style="text-align: justify"> </td></tr> </table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">variable lease payments that depend on an index or a rate, initially measured using the index or rate as at the commencement date;</td></tr><tr style="vertical-align: top"> <td> </td><td> </td><td style="text-align: justify"> </td></tr> </table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">amounts expected to be payable under a residual value guarantee; and</td></tr><tr style="vertical-align: top"> <td> </td><td> </td><td style="text-align: justify"> </td></tr> </table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 17.85pt"/><td style="width: 17.85pt">●</td><td style="text-align: justify">the exercise price under a purchase option that ADSE is reasonably certain to exercise, lease payments in an optional renewal period if ADSE Energy is reasonably certain to exercise an extension option, and penalties for early termination of a lease unless ADSE is reasonably certain not to terminate early.</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The lease liability is measured at amortized cost using the effective interest method. It is remeasured when there is a change in future lease payments arising from a change in an index or rate, if there is a change in ADSE’s estimate of the amount expected to be payable under a residual value guarantee, if ADSE changes its assessment of whether it will exercise a purchase, extension, or termination option or if there is a revised in-substance fixed lease payment.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">When the lease liability is remeasured in this way, a corresponding adjustment is made to the carrying amount of the right-of-use asset or is recorded in profit or loss if the carrying amount of the right-of-use asset has been reduced to zero.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ADSE has elected not to recognize right-of-use assets and lease liabilities for leases of low-value assets and short-term leases. ADSE recognizes the lease payments associated with these leases as an expense on a straight-line basis over the lease term.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The estimated useful lives of right-of-use assets for property and vehicles for current and comparative periods are as follows:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b> </b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b> </b></p></td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 1.5pt solid; white-space: nowrap; font-weight: bold; text-align: center">Useful life <br/> in years</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 50%; text-align: left">Property (Right-of-use assets)</td><td style="width: 1%"> </td> <td style="width: 9%; text-align: center">1-10</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Vehicles (Right-of-use assets)</td><td> </td> <td style="text-align: center">1-4</td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>

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Disclosure Of Detailed Information About Property Plant And Equipment Explanatory

DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b> </b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b> </b></p></td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 1.5pt solid; white-space: nowrap; font-weight: bold; text-align: center">Useful life <br/> in years</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 50%; text-align: left">Property (Right-of-use assets)</td><td style="width: 1%"> </td> <td style="width: 9%; text-align: center">1-10</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Vehicles (Right-of-use assets)</td><td> </td> <td style="text-align: center">1-4</td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; white-space: nowrap; font-weight: bold; text-align: center">Useful life <br/> in years</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 88%">Vehicles</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: center">6</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Other equipment, operating and office equipment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: center"><span style="font-size: 10pt">3-14</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Technical equipment and machinery</td><td> </td> <td style="text-align: left"> </td><td style="text-align: center">20</td><td style="text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>

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Description Of Accounting Policy For Property Plant And Equipment Explanatory

DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory

<table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.5</td><td>Property, plant, and equipment</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Items of property, plant, and equipment are measured at cost less accumulated depreciation and any accumulated impairment losses.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If significant parts of an item of property, plant and equipment have different useful lives, then they are accounted for as separate items (major components) of property, plant, and equipment.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Any gain or loss on disposal of an item of property, plant and equipment is recognized in profit or loss.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Subsequent expenditure is capitalized only if it is probable that the future economic benefits associated with the expenditure will flow to ADSE. All other expenditure for property, plant and equipment is recognized immediately as an expense.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Depreciation is calculated to write off the cost of items of property, plant, and equipment less their estimated residual values using the straight-line method over their estimated useful lives and is generally recognized in profit or loss.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The estimated useful lives of property, plant, and equipment for current and comparative periods are as follows:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; white-space: nowrap; font-weight: bold; text-align: center">Useful life <br/> in years</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 88%">Vehicles</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: center">6</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Other equipment, operating and office equipment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: center"><span style="font-size: 10pt">3-14</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Technical equipment and machinery</td><td> </td> <td style="text-align: left"> </td><td style="text-align: center">20</td><td style="text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Depreciation methods, useful lives and residual values are reviewed at each reporting date and adjusted if appropriate.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Property, plant, and equipment is derecognized upon disposal or when no future economic benefits are expected from the continued use of the asset. The gain or loss arising from the sale or retirement of a property, plant and equipment is determined as the difference between the proceeds from the sale and the carrying amount of the asset and is recognized in profit or loss under the other income or other expenses.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34pt; text-indent: -34pt"> </p>

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Description Of Accounting Policy For Measuring Inventories

DescriptionOfAccountingPolicyForMeasuringInventories

<table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.6</td><td>Inventories</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Inventories are measured at the lower of cost and net realizable value. The cost of inventories is based on the weighted average cost principle. In the case of manufactured inventories, cost includes an appropriate share of production overheads based on normal operating capacity.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The subsequent valuation of cost of raw materials and supplies, work in progress and finished goods within ADSE is assigned using the weighted average cost method. In order to ensure an appropriate measurement of inventories, ADSE performs a continuous evaluation of the lifecycle of inventories, i.e. whether inventories have not been sold or used for a long period of time and are not be expected to be sold in the future. For the determination of the net realizable value of inventories, we determine a write-off percentage based on historical and forecasted usage and sales. Based on our continuous observation of inventory trends, a write-off for obsolete inventory is applied.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34pt; text-indent: -34pt"> </p>

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Explanation Of Significant Changes In Contract Assets And Contract Liabilities Explanatory

ExplanationOfSignificantChangesInContractAssetsAndContractLiabilitiesExplanatory

<table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.7</td><td>Contract assets and contract liabilities</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A contract asset represents the right to compensation in return for goods or development services that ADSE has transferred to a customer. In addition, this right depends on something other than the expiry of a certain period. If the right to remuneration is unconditional, a receivable is recognized. A contract asset occurs, for example, if ADSE has already incurred an expense for development for a customer within the development and production of goods, but the customer's payment plan has not yet covered this expense.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The contract balance may change during the contract term between contract asset and contract liability depending on whether ADSE or the customer is behind with performance.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Due to the fact that ADSE develops and produces goods for its customers it is possible that either a contract asset, a receivable or a contract liability arises, depending on whether ADSE has an obligation to provide services to a customer for which it has already received payments or for which payment is due or vice versa. A contractual liability represents the obligation to provide development and production of goods to a customer for which ADSE has already received remuneration or for which payment is due according to the agreed payment plan. Also included in contract liabilities are performance obligations regarding extended warranties.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34pt; text-indent: -34pt"> </p>

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Description Of Accounting Policy For Restricted Cash And Cash Equivalents Explanatory

DescriptionOfAccountingPolicyForRestrictedCashAndCashEquivalentsExplanatory

<table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.8</td><td>Cash and cash equivalents</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Cash and bank balances in the statement of financial position comprises cash on hand and cash at banks including restricted cash.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>

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Disclosure Of Financial Instruments Explanatory

DisclosureOfFinancialInstrumentsExplanatory

<table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.9</td><td>Financial instruments</td></tr></table><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34pt; text-indent: -34pt"> </p><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.9.1</td><td>Financial assets</td></tr></table><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Recognition and initial measurement</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Trade receivables are initially recognized when they are originated. Financial assets and financial liabilities are initially recognized when ADSE becomes a party to the contractual provisions of the instrument.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A financial asset (unless it is a trade receivable without a significant financing component) or financial liability is initially measured at fair value plus or minus, for an item not at fair value through profit or loss (FVTPL), transaction costs that are directly attributable to its acquisition or issue. A trade receivable without a significant financing component is initially measured at the transaction price.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Classification, subsequent measurement, impairment and derecognition</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On initial recognition, a financial asset is classified as measured at: amortized cost (FAAC); at fair value through other comprehensive income (FVOCI – debt investment or FVOCI – equity investment); or at fair value through profit or loss (FVTPL).</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Financial assets are not reclassified subsequent to their initial recognition unless ADSE changes its business model for managing financial assets, in which case all affected financial assets are reclassified on the first day of the first reporting period following the change in the business model.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Financial assets at amortized cost are subsequently measured using the effective interest rate method. The amortized cost is reduced by impairment losses. Interest income, foreign exchange gains and losses and impairment are recognized in profit or loss. Any gain or loss on derecognition is recognized in profit or loss.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ADSE derecognizes a financial asset when the contractual rights to the cash flows from the financial asset expire, or it transfers the rights to receive the contractual cash flows in a transaction in which substantially all of the risks and rewards of ownership of the financial asset are transferred or in which ADSE neither transfers nor retains substantially all of the risks and rewards of ownership and it does not retain control of the financial asset.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ADSE recognizes loss allowances for expected credit losses (ECLs) on:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">financial assets measured at amortized cost, and</td></tr><tr style="vertical-align: top"> <td> </td><td> </td><td style="text-align: justify"> </td></tr> </table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 17.85pt"/><td style="width: 17.85pt">●</td><td style="text-align: justify">contract assets.</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ADSE measures loss allowances at an amount equal to lifetime ECLs (simplified approach).</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">When determining whether the credit risk of a financial asset has increased significantly since initial recognition and when estimating ECLs, ADSE considers reasonable and supportable information that is relevant and available without undue cost or effort, this includes both quantitative and qualitative information and analysis.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Impairment losses for financial assets measured at amortized cost are recognized in an impairment account (loss allowance). Loss allowances are deducted from the gross carrying amount of the assets. Changes in the carrying amount of the loss allowance are recognized in profit or loss.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34pt; text-indent: -34pt"> </p><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.9.2</td><td>Financial liabilities</td></tr></table><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Recognition and initial measurement</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Financial liabilities not at fair value through profit or loss (FVTPL) are initially measured at fair value plus or minus transaction costs that are directly attributable to its acquisition or issue.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Classification, subsequent measurement, and derecognition</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Financial liabilities are classified as measured at amortized cost (FLAC) or FVTPL. A financial liability is classified as at FVTPL if it is classified as held-for-trading, it is a derivative or it is designated as such on initial recognition. Financial liabilities at FVTPL are measured at fair value and net gains and losses, including any interest expense, are recognized in profit or loss. They are subsequently measured at amortized cost using the effective interest method. Interest expense and foreign exchange gains and losses are recognized in profit or loss. Any gain or loss on derecognition is also recognized in profit or loss.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ADSE derecognizes a financial liability when its contractual obligations are discharged or cancelled or expire. ADSE also derecognizes a financial liability when its terms are modified and the cash flows of the modified liability are substantially different, in which case a new financial liability based on the modified terms is recognized at fair value.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Financial assets and financial liabilities are offset, and the net amount presented in the statement of financial position when, and only when, ADSE currently has a legally enforceable right to set off the amounts and it intends either to settle them on a net basis or to realize the asset and settle the liability simultaneously.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34pt; text-indent: -34pt"> </p>

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Description Of Accounting Policy For Taxes Other Than Income Tax Explanatory

DescriptionOfAccountingPolicyForTaxesOtherThanIncomeTaxExplanatory

<table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.10</td><td>Taxes</td></tr></table><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34pt; text-indent: -34pt"> </p><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.10.1</td><td>Income taxes</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Income taxes are comprised of current and deferred tax based on the appropriate tax rates. Current and deferred taxes are recognized in profit or loss except to the extent that they directly relate to items recorded in equity or other comprehensive income. Income tax receivables and payables recorded comprise the status of amounts to be received, respectively to be paid in the future</span>.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34pt; text-indent: -34pt"> </p><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.10.2</td><td>Current tax</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Current tax comprises the expected tax payables or receivables on the taxable income for the year and any adjustment to the tax payables or receivables in respect of previous years. The amount of current tax payables or receivables is the best estimate of the tax amount expected to be paid or received that reflects uncertainty related to income taxes, if any. It is measured using tax rates enacted or substantively enacted at the reporting date in the countries where the Company and its subsidiaries operate and generate taxable income. During the ordinary course of the business, there are transactions and calculations for which the ultimate tax determination is uncertain. Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation and considers whether it is probable that a taxation authority will accept an uncertain tax treatment. This assessment relies on estimated and assumptions and may involve a series of complex judgments about future events. To the extent that the final tax outcome of these matters is different that the amounts recorded, such differences will impact income tax expense in the period in which such determination is made.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Current tax assets and liabilities are offset only if certain criteria are met.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34pt; text-indent: -34pt"> </p><table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.10.3</td><td>Deferred taxes</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Deferred taxes are recognized in respect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Deferred taxes are not recognized for:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">temporary differences on the initial recognition of assets or liabilities in a transaction that is not a business combination and that affects neither accounting nor taxable profit or loss;</td></tr><tr style="vertical-align: top"> <td> </td><td> </td><td style="text-align: justify"> </td></tr> </table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 17.85pt"/><td style="width: 17.85pt">●</td><td style="text-align: justify">temporary differences related to investments in subsidiaries, associates, and joint arrangements to the extent that the entity is able to control the timing of the reversal of the temporary differences and it is probable that they will not reverse in the foreseeable future.</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Deferred tax assets are recognized for unused tax losses and deductible temporary differences to the extent that it is probable that future taxable profits will be available against which they can be utilized. Future taxable profits are determined based on the reversal of relevant taxable temporary differences. If the amount of taxable temporary differences is insufficient to recognize a deferred tax asset in full, future taxable profits are considered, based on the business plans the entity.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Deferred tax assets are reviewed at each reporting date and are reduced if it is no longer probable that the related tax benefit will be realized. Unrecognized deferred tax assets are reassessed at each reporting date and recognized to the extent that it has become probable that future taxable profits will be available against which they can be utilized.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Deferred taxes are measured at the tax rates that are expected to be applied to temporary differences when they reverse, using tax rates enacted or substantively enacted at the reporting date, and reflects uncertainty related to income taxes, if any.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Deferred tax assets and liabilities are offset if certain criteria are met.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34pt; text-indent: -34pt"> </p>

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Disclosure Of Sharebased Payment Arrangements Explanatory

DisclosureOfSharebasedPaymentArrangementsExplanatory

<table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.11</td><td>Share-based payments</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ADSE’s management, members of the board of directors, employees and others providing similar services to ADSE receive remuneration in the form of share-based payments, which are equity-settled transactions. ADSE’s equity-settled option plans are described in detail in note 4.3 and include restricted stock units (RSU) and non-qualified stock options (NQSO).</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The costs of equity-settled transactions are determined by the fair value at grant date, using an appropriate valuation model. Share-based expenses for the respective vesting periods are recognized in general and administrative expenses, reflecting a corresponding increase in equity.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34pt; text-indent: -34pt"> </p>

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Disclosure Of Provisions Explanatory

DisclosureOfProvisionsExplanatory

<table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.12</td><td>Provisions</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A provision is a liability of uncertain timing or amount. Provisions are recognized if ADSE has a present obligation to a third party based on a past event, an outflow of resources to settle the obligation is probable and the amount of the obligation can be reliably estimated. Provisions are discounted if the effect is material.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Provisions where the outflow of resources is likely to occur within the next year are classified as current, and all other provisions as non-current.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the liability. The unwinding of the discount is recognized as finance cost.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A provision for warranties is recognized when the underlying products or services are sold, based on historical warranty data and a weighting of possible outcomes against their associated probabilities.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34pt; text-indent: -34pt"> </p>

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Description Of Accounting Policy For Impairment Of Nonfinancial Assets Explanatory

DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory

<table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.13</td><td>Impairment of non-financial assets</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">At each reporting date, ADSE reviews the carrying amounts of its non-financial assets (other than inventories, contract assets and deferred tax assets) to determine whether there is any indication of impairment. If any such indication exists, then the asset’s recoverable amount is estimated.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For impairment testing, assets are grouped together into the smallest group of assets that generates cash inflows from continuing use that are largely independent of the cash inflows of other assets or cash generating units (CGU).</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Typically, the CGUs are represented by the segments and the impairment test is performed at the level of this CGU. ADSE manages its operations based on two operating segments which also form the CGUs of the Company.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The recoverable amount of an asset or CGU is the greater of its value in use and its fair value less costs to sell. Value in use is based on the estimated future cash flows, discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset or CGU.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">An impairment loss is recognized if the carrying amount of an asset or CGU exceeds its recoverable amount.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Impairment losses are recognized in profit or loss. They are allocated first to reduce the carrying amount of any goodwill allocated to the CGU, and then to reduce the carrying amounts of the other assets in the CGU on a pro rata basis.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">An impairment loss in respect of goodwill is not reversed. For other assets, an impairment loss is reversed only to the extent that the asset’s carrying amount does not exceed the carrying amount that would have been determined, net of depreciation or amortization, if no impairment loss had been recognized.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Impairments and any triggering events did not occur in the reporting period.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34pt; text-indent: -34pt"> </p>

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Description Of Accounting Policy For Foreign Currency Translation Explanatory

DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory

<table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.14</td><td>Foreign currency transactions</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The consolidated financial statements are presented in Euro, which is the functional and presentation currency of ADSE Holdco. Assets and liabilities of foreign operations are translated into Euro at the rate of exchange prevailing at the reporting date. The consolidated statement of comprehensive income is translated at average exchange rates. The currency translation differences are recognized in other comprehensive income or loss. Transactions in foreign currencies are initially recorded by ADSE‘s entities at their respective functional currency spot rates, at the date the transaction first qualifies for recognition. ADSE used the following exchange rates to convert the financial statements of ADSE US:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31, 2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Spot rate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Average<br/> rate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left; padding-left: 2.85pt">Euro per U.S. Dollar</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1.0666</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1.0530</td><td style="width: 1%; text-align: left"> </td></tr> </table><p style="margin: 0"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31, 2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Spot rate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Average<br/> rate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Euro per U.S. Dollar</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1.1326</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1.1827</td><td style="width: 1%; text-align: left"> </td></tr> </table><p style="margin: 0"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 22, 2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Spot rate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Average <br/> rate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Euro per U.S. Dollar</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1.1301</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-104">-</div></td><td style="width: 1%; text-align: left"> </td></tr> </table><p style="margin: 0"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Sep. 15 - Dec. 31, 2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Spot rate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Average<br/> rate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Euro per U.S. Dollar</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-105">-</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1.1478</td><td style="width: 1%; text-align: left"> </td></tr> </table><p style="margin: 0"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Dec. 23-31, 2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Spot rate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Average<br/> rate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Euro per U.S. Dollar</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-106">-</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1.1319</td><td style="width: 1%; text-align: left"> </td></tr> </table><p style="margin: 0"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Nov. 1 - Dec. 31, 2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Spot rate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Average<br/> rate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Euro per U.S. Dollar</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-107">-</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1.1358</td><td style="width: 1%; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Spot rate as of December 31, 2022, is used to translate the balance sheet of ADSE US.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Average rate September 15, - December 31, 2021, which corresponds to the incorporation period, is used to translate the expenses incurred by ADSE US.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Spot rate as of December 22, 2021, is used to translate the balance sheet of EUSG (USA) on the date of the merger with ADSE Holdco.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Average rate November 1 – December 31, 2021, is used to translate the USD expenses incurred by EUSG in the corresponding period.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Average rate December 23 - 31, 2021, is used to convert the USD expenses incurred by the Company in the corresponding period.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34pt; text-indent: -34pt"> </p>

CY2022

ifrs-full

Disclosure Of Effect Of Changes In Foreign Exchange Rates Explanatory

DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31, 2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Spot rate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Average<br/> rate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left; padding-left: 2.85pt">Euro per U.S. Dollar</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1.0666</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1.0530</td><td style="width: 1%; text-align: left"> </td></tr> </table><p style="margin: 0"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31, 2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Spot rate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Average<br/> rate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Euro per U.S. Dollar</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1.1326</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1.1827</td><td style="width: 1%; text-align: left"> </td></tr> </table><p style="margin: 0"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 22, 2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Spot rate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Average <br/> rate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Euro per U.S. Dollar</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1.1301</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-104">-</div></td><td style="width: 1%; text-align: left"> </td></tr> </table><p style="margin: 0"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Sep. 15 - Dec. 31, 2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Spot rate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Average<br/> rate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Euro per U.S. Dollar</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-105">-</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1.1478</td><td style="width: 1%; text-align: left"> </td></tr> </table><p style="margin: 0"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Dec. 23-31, 2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Spot rate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Average<br/> rate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Euro per U.S. Dollar</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-106">-</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1.1319</td><td style="width: 1%; text-align: left"> </td></tr> </table><p style="margin: 0"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Nov. 1 - Dec. 31, 2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Spot rate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Average<br/> rate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Euro per U.S. Dollar</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-107">-</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1.1358</td><td style="width: 1%; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>

CY2022

adse

Spot Rate

SpotRate

1.0666

pure

CY2022

ifrs-full

Average Foreign Exchange Rate

AverageForeignExchangeRate

1.053

pure

CY2021

adse

Spot Rate

SpotRate

1.1326

pure

CY2021

ifrs-full

Average Foreign Exchange Rate

AverageForeignExchangeRate

1.1827

pure

adse

Spot Rate

SpotRate

1.1301

pure

ifrs-full

Average Foreign Exchange Rate

AverageForeignExchangeRate

1.1478

pure

CY2021Q4

ifrs-full

Average Foreign Exchange Rate

AverageForeignExchangeRate

1.1319

pure

CY2021Q4

ifrs-full

Average Foreign Exchange Rate

AverageForeignExchangeRate

1.1358

pure

CY2022

ifrs-full

Disclosure Of Earnings Per Share Explanatory

DisclosureOfEarningsPerShareExplanatory

<table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.15</td><td>Earnings per share</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Basic earnings per share (EPS) is calculated by dividing the profit for the year attributable to ordinary equity holders of the ADSE Holdco by the weighted average number of ordinary shares outstanding during the reporting period.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Restricted stock units and non-qualified stock options have been included in the calculation of diluted weighted average number of shares outstanding. These restricted stock units and non-qualified stock options could potentially dilute basic earnings per share in the future.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Also refer to section 4.1.8 for further information on the calculation of basic and diluted earnings per share.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34pt; text-indent: -34pt"> </p>

CY2022

ifrs-full

Disclosure Of Fair Value Measurement Explanatory

DisclosureOfFairValueMeasurementExplanatory

<table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.16</td><td>Fair value measurement</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value measurement is based on the presumption that the transaction to sell the asset or transfer the liability takes place either:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">in the principal market for the asset or liability; or</td></tr><tr style="vertical-align: top"> <td> </td><td> </td><td style="text-align: justify"> </td></tr> </table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 17.85pt"/><td style="width: 17.85pt">●</td><td style="text-align: justify">in the absence of a principal market, in the most advantageous market for the asset or liability</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The principal or the most advantageous market must be accessible by ADSE. The fair value of a liability reflects its non-performance risk.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The fair value of an asset or a liability is measured using the assumptions that market participants would use when pricing the asset or liability, assuming that market participants act in their economic best interest.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A fair value measurement of a non-financial asset considers a market participant's ability to generate economic benefits by using the asset in its highest and best use or by selling it to another market participant that would use the asset in its highest and best use.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ADSE uses valuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure fair value, maximizing the use of relevant observable inputs and minimizing the use of unobservable inputs.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorized within the fair value hierarchy, described as follows, based on the lowest level input that is significant to the fair value measurement as a whole:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">Level 1 - Quoted (unadjusted) market prices in active markets for identical assets or liabilities,</td></tr><tr style="vertical-align: top"> <td> </td><td> </td><td style="text-align: justify"> </td></tr> </table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">Level 2 - Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indirectly observable, and</td></tr><tr style="vertical-align: top"> <td> </td><td> </td><td style="text-align: justify"> </td></tr> </table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 17.85pt"/><td style="width: 17.85pt">●</td><td style="text-align: justify">Level 3 - Valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable.</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For assets and liabilities that are recognized in the financial statements at fair value on a recurring basis, ADSE determines whether transfers have occurred between levels in the hierarchy by re-assessing categorization (based on the lowest level input that is significant to the fair value measurement as a whole) at the end of each reporting period.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For the purpose of fair value disclosures, ADSE has determined classes of assets and liabilities on the basis of the nature, characteristics and risks of the asset or liability and the level of the fair value hierarchy, as explained above.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34pt; text-indent: -34pt"> </p>

CY2022

ifrs-full

Disclosure Of Government Grants Explanatory

DisclosureOfGovernmentGrantsExplanatory

<table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.17</td><td>Government grants</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Government grants related to assets are deducted from the carrying amount of the asset and are recognized in earnings over the life of a depreciable asset as a reduced depreciation expense. Government grants which compensate ADSE for expenses are recognized as other operating income in the same period as the expenses themselves.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34pt; text-indent: -34pt"> </p>

CY2022

ifrs-full

Disclosure Of Reclassifications Or Changes In Presentation Explanatory

DisclosureOfReclassificationsOrChangesInPresentationExplanatory

<table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">3.3.18</td><td>Reclassifications</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Certain prior period amounts have been reclassified to conform to current year financial statement presentation. These reclassifications had no effect on reported income (loss), comprehensive income (loss), cash flows, or shareholders’ equity as previously reported.</p>

CY2022

adse

Revenues Generated

RevenuesGenerated

0.739

pure

CY2021

adse

Percentage Of Geographical Region

PercentageOfGeographicalRegion

0.721

pure

CY2020

adse

Percentage Of Geographical Region

PercentageOfGeographicalRegion

0.992

pure

CY2022

ifrs-full

Disclosure Of Operating Segments Explanatory

DisclosureOfOperatingSegmentsExplanatory

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"><b>Revenue by region</b></td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>kEUR</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"/></td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">2020</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%">Germany</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">19,538</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">23,809</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">46,979</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td>Switzerland</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,628</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,186</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">222</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Ireland</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,223</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,944</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td>Spain</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,071</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,371</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">17</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Netherlands</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">872</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">491</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td>Austria</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">750</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">United States of America</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">731</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">29</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt; text-align: left">Other European countries</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,367</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,482</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">118</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt; font-weight: bold">Total</td><td style="padding-bottom: 4pt; font-weight: bold"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">26,430</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 4pt; font-weight: bold"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">33,035</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 4pt; font-weight: bold"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">47,370</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>

CY2022

ifrs-full

Other Revenue

OtherRevenue

26430000

eur

CY2021

ifrs-full

Other Revenue

OtherRevenue

33035000

eur

CY2020

ifrs-full

Other Revenue

OtherRevenue

47370000

eur

CY2022

ifrs-full

Disclosure Of Financial Liabilities Explanatory

DisclosureOfFinancialLiabilitiesExplanatory

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-align: left"><b>Major products</b></td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"/><p style="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><b>kEUR</b></p></td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2021</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2020</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%">Charging</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">19,506</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">23,721</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">40,514</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Commercial and industrial</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,463</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,334</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,472</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Service</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,774</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,235</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,231</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td>Residential</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">287</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">479</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">153</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Other</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">400</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">267</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-108">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 4pt; font-weight: bold">Total</td><td style="padding-bottom: 4pt; font-weight: bold"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">26,430</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 4pt; font-weight: bold"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">33,035</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 4pt; font-weight: bold"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">47,370</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>

CY2022

ifrs-full

Revenue From Contracts With Customers

RevenueFromContractsWithCustomers

26430000

eur

CY2021

ifrs-full

Revenue From Contracts With Customers

RevenueFromContractsWithCustomers

33035000

eur

CY2020

ifrs-full

Revenue From Contracts With Customers

RevenueFromContractsWithCustomers

47370000

eur

CY2022Q4

ifrs-full

Current Receivables From Contracts With Customers

CurrentReceivablesFromContractsWithCustomers

13897000

eur

CY2021Q4

ifrs-full

Current Receivables From Contracts With Customers

CurrentReceivablesFromContractsWithCustomers

7424000

eur

CY2022Q4

ifrs-full

Contract Assets

ContractAssets

6000

eur

CY2021Q4

ifrs-full

Contract Assets

ContractAssets

973000

eur

CY2022Q4

ifrs-full

Contract Liabilities

ContractLiabilities

23721000

eur

CY2021Q4

ifrs-full

Contract Liabilities

ContractLiabilities

6340000

eur

CY2022

ifrs-full

Disclosure Of Credit Risk Exposure Explanatory

DisclosureOfCreditRiskExposureExplanatory

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>kEUR</b></p></td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Dec. 31,<br/> 2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Dec. 31,<br/> 2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; font-weight: bold; text-align: left">Contract liabilities</td><td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 9%; font-weight: bold; text-align: right">23,721</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 9%; font-weight: bold; text-align: right">6,340</td><td style="width: 1%; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Revenue recognized that was included in the contract liability balance at the beginning of the period</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">465</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,616</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Increases due to cash received, excluding amounts recognized at the beginning of the period</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">17,846</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">224</td><td style="text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>

CY2022

ifrs-full

Raw Materials And Consumables Used

RawMaterialsAndConsumablesUsed

23554000

eur

CY2021

ifrs-full

Raw Materials And Consumables Used

RawMaterialsAndConsumablesUsed

26433000

eur

CY2020

ifrs-full

Raw Materials And Consumables Used

RawMaterialsAndConsumablesUsed

38100000

eur

CY2022

ifrs-full

Employee Benefits Expense

EmployeeBenefitsExpense

3388000

eur

CY2021

ifrs-full

Employee Benefits Expense

EmployeeBenefitsExpense

3097000

eur

CY2020

ifrs-full

Employee Benefits Expense

EmployeeBenefitsExpense

2819000

eur

CY2022

ifrs-full

Depreciation And Amortisation Expense

DepreciationAndAmortisationExpense

3517000

eur

CY2021

ifrs-full

Depreciation And Amortisation Expense

DepreciationAndAmortisationExpense

3103000

eur

CY2020

ifrs-full

Depreciation And Amortisation Expense

DepreciationAndAmortisationExpense

1515000

eur

CY2022

ifrs-full

Other Expense By Nature

OtherExpenseByNature

445000

eur

CY2021

ifrs-full

Other Expense By Nature

OtherExpenseByNature

2677000

eur

CY2020

ifrs-full

Other Expense By Nature

OtherExpenseByNature

3114000

eur

CY2022

ifrs-full

Other Gains Losses

OtherGainsLosses

30904000

eur

CY2021

ifrs-full

Other Gains Losses

OtherGainsLosses

35310000

eur

CY2020

ifrs-full

Other Gains Losses

OtherGainsLosses

45548000

eur

CY2022

ifrs-full

Disclosure Of General And Administrative Expense Explanatory

DisclosureOfGeneralAndAdministrativeExpenseExplanatory

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>kEUR</b></p></td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2020</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Legal and consulting fees</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">3,779</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">4,450</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">767</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Personnel expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">14,359</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,911</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,927</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Administration fee</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,412</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,963</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,474</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Marketing costs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,925</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">476</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">133</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Depreciation and amortization</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">631</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">227</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">44</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Insurance expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,365</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">26</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">27</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt; text-align: left">Other expenses</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">4,847</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,268</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,198</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 4pt; font-weight: bold">Total</td><td style="padding-bottom: 4pt; font-weight: bold"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">31,319</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 4pt; font-weight: bold"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">13,321</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 4pt; font-weight: bold"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">7,570</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>

CY2022

ifrs-full

Benefits Paid Or Payable

BenefitsPaidOrPayable

3779000

eur

CY2021

ifrs-full

Benefits Paid Or Payable

BenefitsPaidOrPayable

4450000

eur

CY2020

ifrs-full

Benefits Paid Or Payable

BenefitsPaidOrPayable

767000

eur

CY2022

ifrs-full

Other Employee Expense

OtherEmployeeExpense

14359000

eur

CY2021

ifrs-full

Other Employee Expense

OtherEmployeeExpense

3911000

eur

CY2020

ifrs-full

Other Employee Expense

OtherEmployeeExpense

2927000

eur

CY2022

ifrs-full

Professional Fees Expense

ProfessionalFeesExpense

3412000

eur

CY2021

ifrs-full

Professional Fees Expense

ProfessionalFeesExpense

2963000

eur

CY2020

ifrs-full

Professional Fees Expense

ProfessionalFeesExpense

2474000

eur

CY2022

ifrs-full

Sales And Marketing Expense

SalesAndMarketingExpense

1925000

eur

CY2021

ifrs-full

Sales And Marketing Expense

SalesAndMarketingExpense

476000

eur

CY2020

ifrs-full

Sales And Marketing Expense

SalesAndMarketingExpense

133000

eur

CY2022

adse

Depreciation And Amortizations

DepreciationAndAmortizations

631000

eur

CY2021

adse

Depreciation And Amortizations

DepreciationAndAmortizations

227000

eur

CY2020

adse

Depreciation And Amortizations

DepreciationAndAmortizations

44000

eur

CY2022

ifrs-full

Insurance Finance Income Expenses

InsuranceFinanceIncomeExpenses

2365000

eur

CY2021

ifrs-full

Insurance Finance Income Expenses

InsuranceFinanceIncomeExpenses

26000

eur

CY2020

ifrs-full

Insurance Finance Income Expenses

InsuranceFinanceIncomeExpenses

27000

eur

CY2022

adse

Other Expenses1

OtherExpenses1

4847000

eur

CY2021

adse

Other Expenses1

OtherExpenses1

1268000

eur

CY2020

adse

Other Expenses1

OtherExpenses1

1198000

eur

CY2022

ifrs-full

Consideration Paid Received

ConsiderationPaidReceived

31319000

eur

CY2021

ifrs-full

Consideration Paid Received

ConsiderationPaidReceived

13321000

eur

CY2020

ifrs-full

Consideration Paid Received

ConsiderationPaidReceived

7570000

eur

CY2022

ifrs-full

Research And Development Expense

ResearchAndDevelopmentExpense

1701000

eur

CY2021

ifrs-full

Research And Development Expense

ResearchAndDevelopmentExpense

2012000

eur

CY2020

ifrs-full

Research And Development Expense

ResearchAndDevelopmentExpense

749000

eur

CY2022

adse

Capitalized Development Cost

CapitalizedDevelopmentCost

7406000

eur

CY2021

adse

Capitalized Development Cost

CapitalizedDevelopmentCost

3904000

eur

CY2020

adse

Capitalized Development Cost

CapitalizedDevelopmentCost

5470000

eur

CY2022

adse

Amortization Development Cost

AmortizationDevelopmentCost

2458000

eur

CY2021

adse

Amortization Development Cost

AmortizationDevelopmentCost

2249000

eur

CY2020

adse

Amortization Development Cost

AmortizationDevelopmentCost

647000

eur

CY2021

adse

Other Operating Cost Refunds

OtherOperatingCostRefunds

174000

eur

CY2020

adse

Other Operating Cost Refunds

OtherOperatingCostRefunds

119000

eur

CY2022

adse

Other Operating Cost Refunds

OtherOperatingCostRefunds

492000

eur

CY2022Q4

ifrs-full

Government Grants

GovernmentGrants

4615000

usd

CY2021Q4

ifrs-full

Government Grants

GovernmentGrants

4381000

eur

CY2020Q4

ifrs-full

Government Grants

GovernmentGrants

4282000

eur

CY2022

adse

Government Grants Not Yet Paid

GovernmentGrantsNotYetPaid

354000

eur

CY2021

adse

Government Grants Not Yet Paid

GovernmentGrantsNotYetPaid

96000

eur

CY2020

adse

Government Grants Not Yet Paid

GovernmentGrantsNotYetPaid

13000

eur

CY2020

ifrs-full

Key Management Personnel Compensation

KeyManagementPersonnelCompensation

105000

eur

CY2022

adse

Other Operating Income Expenses

OtherOperatingIncomeExpenses

1084000

eur

CY2021

adse

Other Operating Income Expenses

OtherOperatingIncomeExpenses

5402000

eur

CY2020

adse

Other Operating Income Expenses

OtherOperatingIncomeExpenses

2224000

eur

CY2022

adse

Other Operating Incomefrom Subsequent Payments

OtherOperatingIncomefromSubsequentPayments

408000

eur

CY2021

adse

Other Operating Incomefrom Subsequent Payments

OtherOperatingIncomefromSubsequentPayments

75000

eur

CY2020

adse

Other Operating Incomefrom Subsequent Payments

OtherOperatingIncomefromSubsequentPayments

44000

eur

CY2020

adse

Other Operating Incomefrom Utilization Of Provisions

OtherOperatingIncomefromUtilizationOfProvisions

58000

eur

CY2022

adse

Other Operating Income From Reversal Of Provisions

OtherOperatingIncomeFromReversalOfProvisions

913000

eur

CY2021

adse

Other Operating Income From Reversal Of Provisions

OtherOperatingIncomeFromReversalOfProvisions

1517000

eur

CY2020

adse

Other Operating Income From Reversal Of Provisions

OtherOperatingIncomeFromReversalOfProvisions

233000

eur

CY2021

adse

Other Operating Cost Refunds

OtherOperatingCostRefunds

174000

eur

CY2020

adse

Other Operating Cost Refunds

OtherOperatingCostRefunds

119000

eur

CY2022

adse

Other Operating Incomefrom Compensation

OtherOperatingIncomefromCompensation

1016000

eur

CY2021

adse

Other Operating Incomefrom Compensation

OtherOperatingIncomefromCompensation

2537000

eur

CY2020

adse

Other Operating Incomefrom Compensation

OtherOperatingIncomefromCompensation

61000

eur

CY2020

adse

Sales To Employees

SalesToEmployees

17000

eur

CY2022

adse

Others Operating Income

OthersOperatingIncome

47000

eur

CY2021

adse

Others Operating Income

OthersOperatingIncome

233000

eur

CY2020

adse

Others Operating Income

OthersOperatingIncome

8000

eur

CY2022

adse

Other Income Total

OtherIncomeTotal

2383000

eur

CY2021

adse

Other Income Total

OtherIncomeTotal

4538000

eur

CY2020

adse

Other Income Total

OtherIncomeTotal

541000

eur

CY2021

adse

Warranties

5253000

eur

CY2020

adse

Warranties

1976000

eur

CY2022

ifrs-full

Expense Relating To Leases Of Lowvalue Assets For Which Recognition Exemption Has Been Used

ExpenseRelatingToLeasesOfLowvalueAssetsForWhichRecognitionExemptionHasBeenUsed

1000

eur

CY2021

ifrs-full

Expense Relating To Leases Of Lowvalue Assets For Which Recognition Exemption Has Been Used

ExpenseRelatingToLeasesOfLowvalueAssetsForWhichRecognitionExemptionHasBeenUsed

36000

eur

CY2020

ifrs-full

Expense Relating To Leases Of Lowvalue Assets For Which Recognition Exemption Has Been Used

ExpenseRelatingToLeasesOfLowvalueAssetsForWhichRecognitionExemptionHasBeenUsed

70000

eur

CY2022

ifrs-full

Expense Relating To Variable Lease Payments Not Included In Measurement Of Lease Liabilities

ExpenseRelatingToVariableLeasePaymentsNotIncludedInMeasurementOfLeaseLiabilities

11000

eur

CY2021

ifrs-full

Expense Relating To Variable Lease Payments Not Included In Measurement Of Lease Liabilities

ExpenseRelatingToVariableLeasePaymentsNotIncludedInMeasurementOfLeaseLiabilities

5000

eur

CY2020

ifrs-full

Expense Relating To Variable Lease Payments Not Included In Measurement Of Lease Liabilities

ExpenseRelatingToVariableLeasePaymentsNotIncludedInMeasurementOfLeaseLiabilities

27000

eur

CY2022

adse

Exchange Rate Losses

ExchangeRateLosses

1007000

eur

CY2022

ifrs-full

Services Expense

ServicesExpense

64000

eur

CY2021

ifrs-full

Services Expense

ServicesExpense

66000

eur

CY2020

ifrs-full

Services Expense

ServicesExpense

46000

eur

CY2021

ifrs-full

Key Management Personnel Compensation

KeyManagementPersonnelCompensation

42000

eur

CY2022

adse

Finance Income From Remeasurement Of Warrant Liabilities

FinanceIncomeFromRemeasurementOfWarrantLiabilities

10329000

eur

CY2022

ifrs-full

Net Foreign Exchange Gain

NetForeignExchangeGain

9928000

eur

CY2022

ifrs-full

Revenue From Interest

RevenueFromInterest

259000

eur

CY2021

ifrs-full

Revenue From Interest

RevenueFromInterest

47000

eur

CY2022

ifrs-full

Other Finance Income

OtherFinanceIncome

20515000

eur

CY2021

ifrs-full

Other Finance Income

OtherFinanceIncome

47000

eur

CY2022

adse

Interest Expense From Bank Loans

InterestExpenseFromBankLoans

-17000

eur

CY2021

adse

Interest Expense From Bank Loans

InterestExpenseFromBankLoans

-296000

eur

CY2020

adse

Interest Expense From Bank Loans

InterestExpenseFromBankLoans

-1621000

eur

CY2021

ifrs-full

Gains Losses On Exchange Differences On Translation Recognised In Profit Or Loss

GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss

-264000

eur

CY2022

adse

Interest Expense From Related Party Loans

InterestExpenseFromRelatedPartyLoans

-2000

eur

CY2021

adse

Interest Expense From Related Party Loans

InterestExpenseFromRelatedPartyLoans

-1995000

eur

CY2020

adse

Interest Expense From Related Party Loans

InterestExpenseFromRelatedPartyLoans

-261000

eur

CY2022

ifrs-full

Interest Expense On Lease Liabilities

InterestExpenseOnLeaseLiabilities

122000

eur

CY2021

ifrs-full

Interest Expense On Lease Liabilities

InterestExpenseOnLeaseLiabilities

89000

eur

CY2020

ifrs-full

Interest Expense On Lease Liabilities

InterestExpenseOnLeaseLiabilities

78000

eur

CY2022

adse

Interest From Provisions

InterestFromProvisions

246000

eur

CY2021

adse

Interest From Provisions

InterestFromProvisions

177000

eur

CY2020

adse

Interest From Provisions

InterestFromProvisions

37000

eur

CY2022

ifrs-full

Interest Expense On Other Financial Liabilities

InterestExpenseOnOtherFinancialLiabilities

40000

eur

CY2021

ifrs-full

Interest Expense On Other Financial Liabilities

InterestExpenseOnOtherFinancialLiabilities

13000

eur

CY2020

ifrs-full

Interest Expense On Other Financial Liabilities

InterestExpenseOnOtherFinancialLiabilities

137000

eur

CY2022

ifrs-full

Other Finance Cost

OtherFinanceCost

427000

eur

CY2021

ifrs-full

Other Finance Cost

OtherFinanceCost

2835000

eur

CY2020

ifrs-full

Other Finance Cost

OtherFinanceCost

2135000

eur

CY2021

adse

Share Listing Expense

ShareListingExpense

-65796000

eur

CY2022

adse

Net Finance Costs

NetFinanceCosts

20089000

eur

CY2021

adse

Net Finance Costs

NetFinanceCosts

-68583000

eur

CY2020

adse

Net Finance Costs

NetFinanceCosts

-2135000

eur

CY2022

adse

Public And Private Warrant Liabilities

PublicAndPrivateWarrantLiabilities

10329000

usd

CY2021

adse

Public And Private Warrant Liabilities

PublicAndPrivateWarrantLiabilities

0

eur

CY2020

adse

Public And Private Warrant Liabilities

PublicAndPrivateWarrantLiabilities

0

eur

CY2020

ifrs-full

Gains Losses On Change In Value Of Foreign Currency Basis Spreads Net Of Tax

GainsLossesOnChangeInValueOfForeignCurrencyBasisSpreadsNetOfTax

9928000

eur

CY2021Q4

ifrs-full

Par Value Per Share

ParValuePerShare

9.77

CY2022

ifrs-full

Disclosure Of Fair Value Measurement Of Assets Explanatory

DisclosureOfFairValueMeasurementOfAssetsExplanatory

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>kEUR</b></p></td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="padding-bottom: 1.5pt; text-align: right"> </td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 88%">Fair value of 8,524,565 ordinary shares (including 3,593,750 founder shares) at €8.64 per share</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">73,697</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Fair value of 4,375,000 private warrants at EUR 1.17 per warrant</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,110</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Fair value of 7,187,500 public warrants at EUR 1.05 per warrant</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,568</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Net liability of EUSG at business combination</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">423</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt; font-weight: bold">Total value of consideration</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">86,799</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Proceeds received post business combination EUSG assets (cash)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-43,107</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt; text-align: left">Listing expenses total (cash)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">22,105</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 4pt; font-weight: bold; text-align: left">Total share listing expense</td><td style="padding-bottom: 4pt; font-weight: bold"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">65,796</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>

CY2022

adse

Fair Value Of Ordinary Shares

FairValueOfOrdinaryShares

8524565

shares

CY2022

adse

Fair Value Of Ordinary Shares Including Founder Shares

FairValueOfOrdinarySharesIncludingFounderShares

3593750

shares

CY2022

adse

Fair Value Of Per Share

FairValueOfPerShare

8.64

CY2022

adse

Fair Valueof Ordinary Share Amount

FairValueofOrdinaryShareAmount

73697000

eur

CY2022

adse

Fair Value Of Private Warrants

FairValueOfPrivateWarrants

4375000

shares

CY2022

adse

Fair Value Of Per Warrant

FairValueOfPerWarrant

1.17

CY2022

adse

Fair Value Of4375000 Private Warrants At117 Per Warrantin Shares

FairValueOf4375000PrivateWarrantsAt117PerWarrantinShares

5110000

eur

CY2022

adse

Fair Value Of Public Warrants

FairValueOfPublicWarrants

7187500

shares

CY2022

adse

Fair Value Of Public Warrant Per Share

FairValueOfPublicWarrantPerShare

1.05

CY2022

adse

Fair Valueof Public Warrants

FairValueofPublicWarrants

7568000

eur

CY2022Q4

ifrs-full

Contingent Liabilities Recognised In Business Combination

ContingentLiabilitiesRecognisedInBusinessCombination

423000

eur

CY2022Q4

ifrs-full

Acquisitiondate Fair Value Of Total Consideration Transferred

AcquisitiondateFairValueOfTotalConsiderationTransferred

86799000

eur

CY2022Q4

ifrs-full

Cash And Cash Equivalents Recognised As Of Acquisition Date

CashAndCashEquivalentsRecognisedAsOfAcquisitionDate

43107000

eur

CY2022

adse

Listing Expenses Total Cash

ListingExpensesTotalCash

22105000

eur

CY2022

ifrs-full

Expense By Nature

ExpenseByNature

65796000

eur

CY2022

ifrs-full

Current Tax Expense Income And Adjustments For Current Tax Of Prior Periods

CurrentTaxExpenseIncomeAndAdjustmentsForCurrentTaxOfPriorPeriods

-190000

eur

CY2022

ifrs-full

Current Tax Expense Income

CurrentTaxExpenseIncome

-190000

eur

CY2022

ifrs-full

Deferred Tax Expense Income Relating To Origination And Reversal Of Temporary Differences

DeferredTaxExpenseIncomeRelatingToOriginationAndReversalOfTemporaryDifferences

-3453000

eur

CY2021

ifrs-full

Deferred Tax Expense Income Relating To Origination And Reversal Of Temporary Differences

DeferredTaxExpenseIncomeRelatingToOriginationAndReversalOfTemporaryDifferences

-1033000

eur

CY2020

ifrs-full

Deferred Tax Expense Income Relating To Origination And Reversal Of Temporary Differences

DeferredTaxExpenseIncomeRelatingToOriginationAndReversalOfTemporaryDifferences

112000

eur

CY2022

adse

Recognition Of Previously Unrecognisedderecognition Of Previously Recognised Tax Losses

RecognitionOfPreviouslyUnrecognisedderecognitionOfPreviouslyRecognisedTaxLosses

1071000

eur

CY2021

adse

Recognition Of Previously Unrecognisedderecognition Of Previously Recognised Tax Losses

RecognitionOfPreviouslyUnrecognisedderecognitionOfPreviouslyRecognisedTaxLosses

620000

eur

CY2020

adse

Recognition Of Previously Unrecognisedderecognition Of Previously Recognised Tax Losses

RecognitionOfPreviouslyUnrecognisedderecognitionOfPreviouslyRecognisedTaxLosses

-67000

eur

CY2022

ifrs-full

Deferred Tax Expense Income

DeferredTaxExpenseIncome

-2382000

eur

CY2021

ifrs-full

Deferred Tax Expense Income

DeferredTaxExpenseIncome

-413000

eur

CY2020

ifrs-full

Deferred Tax Expense Income

DeferredTaxExpenseIncome

45000

eur

CY2022

ifrs-full

Deferred Tax Expense Income Recognised In Profit Or Loss

DeferredTaxExpenseIncomeRecognisedInProfitOrLoss

-2572000

eur

CY2021

ifrs-full

Deferred Tax Expense Income Recognised In Profit Or Loss

DeferredTaxExpenseIncomeRecognisedInProfitOrLoss

-413000

eur

CY2020

ifrs-full

Deferred Tax Expense Income Recognised In Profit Or Loss

DeferredTaxExpenseIncomeRecognisedInProfitOrLoss

45000

eur

CY2022

adse

Description Of Reconciliation Of The Effective Tax Rate

DescriptionOfReconciliationOfTheEffectiveTaxRate

The entity’s tax rate of 29,48% combines a corporate tax rate of 15%, a solidarity surcharge thereon of 5.5% and a trade tax rate of 13,65%.

CY2022

ifrs-full

Profit Loss Before Tax

ProfitLossBeforeTax

-16335000

eur

CY2021

ifrs-full

Profit Loss Before Tax

ProfitLossBeforeTax

-87227000

eur

CY2020

ifrs-full

Profit Loss Before Tax

ProfitLossBeforeTax

-10325000

eur

CY2022

adse

Tax Using The Companys Domestic Tax Rate

TaxUsingTheCompanysDomesticTaxRate

4815000

eur

CY2021

adse

Tax Using The Companys Domestic Tax Rate

TaxUsingTheCompanysDomesticTaxRate

25710000

eur

CY2020

adse

Tax Using The Companys Domestic Tax Rate

TaxUsingTheCompanysDomesticTaxRate

3043000

eur

CY2022

ifrs-full

Tax Benefit Arising From Previously Unrecognised Tax Loss Tax Credit Or Temporary Difference Of Prior Period Used To Reduce Current Tax Expense

TaxBenefitArisingFromPreviouslyUnrecognisedTaxLossTaxCreditOrTemporaryDifferenceOfPriorPeriodUsedToReduceCurrentTaxExpense

525000

eur

CY2021

ifrs-full

Tax Benefit Arising From Previously Unrecognised Tax Loss Tax Credit Or Temporary Difference Of Prior Period Used To Reduce Current Tax Expense

TaxBenefitArisingFromPreviouslyUnrecognisedTaxLossTaxCreditOrTemporaryDifferenceOfPriorPeriodUsedToReduceCurrentTaxExpense

10516000

eur

CY2022

adse

Nodeductible Expenses

NodeductibleExpenses

-130000

eur

CY2021

adse

Nodeductible Expenses

NodeductibleExpenses

-582000

eur

CY2020

adse

Nodeductible Expenses

NodeductibleExpenses

-30000

eur

CY2022

adse

Nontaxable Income

NontaxableIncome

344000

eur

CY2022

adse

Additions For Tax Purposes

AdditionsForTaxPurposes

-84000

eur

CY2022

adse

Nonrecognition Of Deferred Taxes On Losses

NonrecognitionOfDeferredTaxesOnLosses

-6738000

eur

CY2021

adse

Nonrecognition Of Deferred Taxes On Losses

NonrecognitionOfDeferredTaxesOnLosses

-7319000

eur

CY2020

adse

Nonrecognition Of Deferred Taxes On Losses

NonrecognitionOfDeferredTaxesOnLosses

-2968000

eur

CY2022

adse

True Up On Deferred Taxes From Prior Year

TrueUpOnDeferredTaxesFromPriorYear

527000

eur

CY2022

adse

Permanent Differences

PermanentDifferences

-795000

eur

CY2021

adse

Permanent Differences

PermanentDifferences

-7736000

eur

CY2022

ifrs-full

Adjustments For Reconcile Profit Loss

AdjustmentsForReconcileProfitLoss

14000

eur

CY2021

ifrs-full

Adjustments For Reconcile Profit Loss

AdjustmentsForReconcileProfitLoss

30000

eur

CY2022

adse

Taxes On Income

TaxesOnIncome

-2572000

eur

CY2021

adse

Taxes On Income

TaxesOnIncome

-413000

eur

CY2020

adse

Taxes On Income

TaxesOnIncome

45000

eur

CY2022

adse

Tax Loss Carryforwards

TaxLossCarryforwards

82796000

eur

CY2021

adse

Tax Loss Carryforwards

TaxLossCarryforwards

55352000

eur

CY2020

adse

Tax Loss Carryforwards

TaxLossCarryforwards

32936000

eur

CY2022Q4

adse

Intangible Assets

IntangibleAssets

-5994000

eur

CY2021Q4

adse

Intangible Assets

IntangibleAssets

-4536000

eur

CY2022Q4

adse

Property Plant And Equipment Amount

PropertyPlantAndEquipmentAmount

-955000

eur

CY2021Q4

adse

Property Plant And Equipment Amount

PropertyPlantAndEquipmentAmount

-586000

eur

CY2022Q4

adse

Inventories Amount

InventoriesAmount

-2011000

eur

CY2021Q4

adse

Inventories Amount

InventoriesAmount

-1199000

eur

CY2022Q4

adse

Contract Asset

ContractAsset

47000

eur

CY2021Q4

adse

Contract Asset

ContractAsset

287000

eur

CY2022Q4

adse

Trade And Other Receivable

TradeAndOtherReceivable

-362000

eur

CY2021Q4

adse

Trade And Other Receivable

TradeAndOtherReceivable

-72000

eur

CY2022Q4

adse

Other Asset

OtherAsset

-150000

eur

CY2022Q4

ifrs-full

Lease Liabilities

LeaseLiabilities

988000

eur

CY2021Q4

ifrs-full

Lease Liabilities

LeaseLiabilities

609000

eur

CY2022

adse

Trade Payables1

TradePayables1

-408000

eur

CY2021

adse

Trade Payables1

TradePayables1

-303000

eur

CY2022Q4

adse

Contract Liability

ContractLiability

3627000

eur

CY2021Q4

adse

Contract Liability

ContractLiability

1807000

eur

CY2022Q4

adse

Other Provisions Amount

OtherProvisionsAmount

-206000

eur

CY2021Q4

adse

Other Provisions Amount

OtherProvisionsAmount

-80000

eur

CY2022

adse

Warrant Liabilities

WarrantLiabilities

-2582000

eur

CY2022Q4

adse

Tax Loss Carryforward

TaxLossCarryforward

3859000

eur

CY2021Q4

adse

Tax Loss Carryforward

TaxLossCarryforward

2788000

eur

CY2022Q4

ifrs-full

Deferred Tax Liability Asset

DeferredTaxLiabilityAsset

-4241000

eur

CY2021Q4

ifrs-full

Deferred Tax Liability Asset

DeferredTaxLiabilityAsset

-1859000

eur

CY2022

ifrs-full

Profit Loss From Continuing Operations Attributable To Ordinary Equity Holders Of Parent Entity

ProfitLossFromContinuingOperationsAttributableToOrdinaryEquityHoldersOfParentEntity

18906000

eur

CY2021

ifrs-full

Profit Loss From Continuing Operations Attributable To Ordinary Equity Holders Of Parent Entity

ProfitLossFromContinuingOperationsAttributableToOrdinaryEquityHoldersOfParentEntity

87640000

eur

CY2020

ifrs-full

Profit Loss From Continuing Operations Attributable To Ordinary Equity Holders Of Parent Entity

ProfitLossFromContinuingOperationsAttributableToOrdinaryEquityHoldersOfParentEntity

10280000

eur

CY2022

ifrs-full

Weighted Average Shares

WeightedAverageShares

49005000

shares

CY2021

ifrs-full

Weighted Average Shares

WeightedAverageShares

25344000

shares

CY2020

ifrs-full

Weighted Average Shares

WeightedAverageShares

32000

shares

CY2022

ifrs-full

Earnings Per Share Explanatory

EarningsPerShareExplanatory

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Earnings per share</b></p></td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2020</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Profit/loss for the period (attributable to shareholders of the parent) (kEUR)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">-18,906</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">-87,640</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">-10,280</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Weighted average number of ordinary shares outstanding (in k units) (basic)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">48,809</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">25,344</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">32</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Weighted average number of ordinary shares outstanding (in k units) (diluted)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">49,005</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">25,344</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">32</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt; font-weight: bold">Basic loss per share (€)</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">-0.39</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">-3.46</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">-320.86</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt; font-weight: bold">Diluted loss per share (€)</td><td style="padding-bottom: 4pt; font-weight: bold"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-0.39</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 4pt; font-weight: bold"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-3.46</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 4pt; font-weight: bold"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-320.86</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>

CY2022

ifrs-full

Profit Loss Attributable To Ordinary Equity Holders Of Parent Entity Including Dilutive Effects

ProfitLossAttributableToOrdinaryEquityHoldersOfParentEntityIncludingDilutiveEffects

-18906000

eur

CY2021

ifrs-full

Profit Loss Attributable To Ordinary Equity Holders Of Parent Entity Including Dilutive Effects

ProfitLossAttributableToOrdinaryEquityHoldersOfParentEntityIncludingDilutiveEffects

-87640000

eur

CY2020

ifrs-full

Profit Loss Attributable To Ordinary Equity Holders Of Parent Entity Including Dilutive Effects

ProfitLossAttributableToOrdinaryEquityHoldersOfParentEntityIncludingDilutiveEffects

-10280000

eur

CY2022

adse

Weighted Average Number Of Ordinary Shares Outstanding Basic

WeightedAverageNumberOfOrdinarySharesOutstandingBasic

48809

shares

CY2021

adse

Weighted Average Number Of Ordinary Shares Outstanding Basic

WeightedAverageNumberOfOrdinarySharesOutstandingBasic

25344

shares

CY2020

adse

Weighted Average Number Of Ordinary Shares Outstanding Basic

WeightedAverageNumberOfOrdinarySharesOutstandingBasic

32

shares

CY2022

adse

Weighted Average Number Of Ordinary Shares Outstanding Diluted

WeightedAverageNumberOfOrdinarySharesOutstandingDiluted

49005

shares

CY2021

adse

Weighted Average Number Of Ordinary Shares Outstanding Diluted

WeightedAverageNumberOfOrdinarySharesOutstandingDiluted

25344

shares

CY2020

adse

Weighted Average Number Of Ordinary Shares Outstanding Diluted

WeightedAverageNumberOfOrdinarySharesOutstandingDiluted

32

shares

CY2022

ifrs-full

Basic Earnings Loss Per Share

BasicEarningsLossPerShare

-0.39

CY2021

ifrs-full

Basic Earnings Loss Per Share

BasicEarningsLossPerShare

-3.46

CY2020

ifrs-full

Basic Earnings Loss Per Share

BasicEarningsLossPerShare

-320.86

CY2022

ifrs-full

Diluted Earnings Loss Per Share

DilutedEarningsLossPerShare

-0.39

CY2021

ifrs-full

Diluted Earnings Loss Per Share

DilutedEarningsLossPerShare

-3.46

CY2020

ifrs-full

Diluted Earnings Loss Per Share

DilutedEarningsLossPerShare

-320.86

CY2021Q1

ifrs-full

Dilutive Effect Of Share Options On Number Of Ordinary Shares

DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares

32039000

shares

CY2022

adse

Intangible Asset Useful Life

IntangibleAssetUsefulLife

P5Y

CY2022Q4

ifrs-full

Amount By Which Units Recoverable Amount Exceeds Its Carrying Amount

AmountByWhichUnitsRecoverableAmountExceedsItsCarryingAmount

4580000

eur

CY2021Q4

ifrs-full

Amount By Which Units Recoverable Amount Exceeds Its Carrying Amount

AmountByWhichUnitsRecoverableAmountExceedsItsCarryingAmount

5552000

eur

CY2022

ifrs-full

Disclosure Of Quantitative Information About Rightofuse Assets Explanatory

DisclosureOfQuantitativeInformationAboutRightofuseAssetsExplanatory

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold">kEUR</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Property</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Vehicles</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold">Right-of-use assets</td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; font-weight: bold; padding-bottom: 1.5pt">As of Jan. 01, 2021</td><td style="width: 1%; font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; width: 9%; font-weight: bold; text-align: right">2,346</td><td style="width: 1%; padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="width: 1%; font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; width: 9%; font-weight: bold; text-align: right">158</td><td style="width: 1%; padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="width: 1%; font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; width: 9%; font-weight: bold; text-align: right">2,503</td><td style="width: 1%; padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Depreciation charge for the year</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">501</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">93</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">595</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Additions to right-of-use assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">79</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">79</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; padding-bottom: 1.5pt">As of Dec. 31, 2021</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">1,844</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">143</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">1,988</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Depreciation charge for the year</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">622</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">116</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">739</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt; text-align: left">Additions to right-of-use assets</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,912</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">205</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,117</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 4pt">As of Dec. 31, 2022</td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">3,134</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">232</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">3,366</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>

CY2020Q4

ifrs-full

Rightofuse Assets

RightofuseAssets

2503000

eur

CY2021

ifrs-full

Depreciation Expense

DepreciationExpense

595000

eur

CY2021

ifrs-full

Additions To Rightofuse Assets

AdditionsToRightofuseAssets

79000

eur

CY2021Q4

ifrs-full

Rightofuse Assets

RightofuseAssets

1988000

eur

CY2022

ifrs-full

Depreciation Expense

DepreciationExpense

739000

eur

CY2022

ifrs-full

Additions To Rightofuse Assets

AdditionsToRightofuseAssets

2117000

eur

CY2022Q4

ifrs-full

Rightofuse Assets

RightofuseAssets

3366000

eur

CY2022

ifrs-full

Cash Outflow For Leases

CashOutflowForLeases

828000

eur

CY2021

ifrs-full

Cash Outflow For Leases

CashOutflowForLeases

569000

eur

CY2020

ifrs-full

Cash Outflow For Leases

CashOutflowForLeases

454000

eur

CY2022

adse

Interest On Lease Liabilities

InterestOnLeaseLiabilities

122000

eur

CY2021

adse

Interest On Lease Liabilities

InterestOnLeaseLiabilities

89000

eur

CY2020

adse

Interest On Lease Liabilities

InterestOnLeaseLiabilities

78000

eur

CY2022

adse

Expenses Relating To Shortterm Leases

ExpensesRelatingToShorttermLeases

50000

eur

CY2021

adse

Expenses Relating To Shortterm Leases

ExpensesRelatingToShorttermLeases

2000

eur

CY2020

adse

Expenses Relating To Shortterm Leases

ExpensesRelatingToShorttermLeases

10000

eur

CY2022

adse

Expenses Relating To Leases Of Lowvalue Assets Excluding Shortterm Leases Of Low Value Assets

ExpensesRelatingToLeasesOfLowvalueAssetsExcludingShorttermLeasesOfLowValueAssets

13000

eur

CY2021

adse

Expenses Relating To Leases Of Lowvalue Assets Excluding Shortterm Leases Of Low Value Assets

ExpensesRelatingToLeasesOfLowvalueAssetsExcludingShorttermLeasesOfLowValueAssets

7000

eur

CY2022

adse

Total Cash Outflow Of Leases

TotalCashOutflowOfLeases

828000

eur

CY2021

adse

Total Cash Outflow Of Leases

TotalCashOutflowOfLeases

569000

eur

CY2020

adse

Total Cash Outflow Of Leases

TotalCashOutflowOfLeases

454000

eur

CY2022Q4

ifrs-full

Other Current Financial Liabilities

OtherCurrentFinancialLiabilities

3199000

eur

CY2021Q4

ifrs-full

Other Current Financial Liabilities

OtherCurrentFinancialLiabilities

1944000

eur

CY2022Q4

ifrs-full

Other Current Financial Assets

OtherCurrentFinancialAssets

174000

eur

CY2021Q4

ifrs-full

Other Current Financial Assets

OtherCurrentFinancialAssets

140000

eur

CY2022

adse

Other Investmentsandotherassets Total

OtherInvestmentsandotherassetsTotal

3373000

eur

CY2021

adse

Other Investmentsandotherassets Total

OtherInvestmentsandotherassetsTotal

2084000

eur

CY2022Q2

adse

Convertible Loan Granted

ConvertibleLoanGranted

5000000

eur

CY2022Q4

ifrs-full

Borrowings Interest Rate

BorrowingsInterestRate

0.06

pure

CY2022

adse

Due Date

DueDate

2027-03-31

CY2022

adse

Loan Balance

LoanBalance

3221000

eur

CY2021

adse

Loan Balance

LoanBalance

1944000

eur

CY2022

ifrs-full

Interest Income On Impaired Financial Assets Accrued

InterestIncomeOnImpairedFinancialAssetsAccrued

63000

eur

CY2021

ifrs-full

Interest Income On Impaired Financial Assets Accrued

InterestIncomeOnImpairedFinancialAssetsAccrued

0

eur

CY2022Q4

ifrs-full

Financial Assets With Modified Contractual Cash Flows While Loss Allowance Measured At Lifetime Expected Credit Losses For Which Loss Allowance Changed During Reporting Period To12month Expected Credit Losses Gross Carrying Amount

FinancialAssetsWithModifiedContractualCashFlowsWhileLossAllowanceMeasuredAtLifetimeExpectedCreditLossesForWhichLossAllowanceChangedDuringReportingPeriodTo12monthExpectedCreditLossesGrossCarryingAmount

85000

eur

CY2021Q4

ifrs-full

Financial Assets With Modified Contractual Cash Flows While Loss Allowance Measured At Lifetime Expected Credit Losses For Which Loss Allowance Changed During Reporting Period To12month Expected Credit Losses Gross Carrying Amount

FinancialAssetsWithModifiedContractualCashFlowsWhileLossAllowanceMeasuredAtLifetimeExpectedCreditLossesForWhichLossAllowanceChangedDuringReportingPeriodTo12monthExpectedCreditLossesGrossCarryingAmount

0

eur

CY2022

adse

Rental Expenses

RentalExpenses

137000

eur

CY2021

adse

Rental Expenses

RentalExpenses

102000

eur

CY2021

adse

Capital Reorganization Description

CapitalReorganizationDescription

Following the merger with ADSE GM in 2021, which is accounted for as a capital reorganization, the subscribed capital of ADSE GM amounting to EUR 32,039 was reclassified to capital reserves. As part of the capital reorganization, accumulated losses and public warrant liability of EUSG amounting to EUR 16.8 million were deducted from capital reserves. Furthermore, capital reserves include EUR 43.1 million additional paid-in capital for the remaining 4,870,815 EUSG shares after redemptions and the excess of fair value of issued shares over net assets assumed as part of the merger amounting to EUR 58.5 million. Capital reserves are reduced by transaction costs amounting to EUR 11.0 million and payments for acquisition of a shareholding of an existing ADSE GM shareholder amounting to EUR 20 million. Moreover, the difference between the cash received and the nominal value of 15.6 million shares issued to the PIPE investors amounting to EUR 138.0 million is recorded within capital reserves.

CY2022Q4

ifrs-full

Finished Goods

FinishedGoods

16804000

eur

CY2021Q4

ifrs-full

Finished Goods

FinishedGoods

5074000

eur

CY2022Q4

ifrs-full

Trade And Other Payables To Trade Suppliers

TradeAndOtherPayablesToTradeSuppliers

1474000

eur

CY2021Q4

ifrs-full

Trade And Other Payables To Trade Suppliers

TradeAndOtherPayablesToTradeSuppliers

257000

eur

CY2022Q4

ifrs-full

Work In Progress

WorkInProgress

3912000

eur

CY2021Q4

ifrs-full

Work In Progress

WorkInProgress

2117000

eur

CY2022Q4

ifrs-full

Raw Materials

RawMaterials

36766000

eur

CY2021Q4

ifrs-full

Raw Materials

RawMaterials

11511000

eur

CY2022Q4

ifrs-full

Other Inventories

OtherInventories

58956000

eur

CY2021Q4

ifrs-full

Other Inventories

OtherInventories

18959000

eur

CY2022Q4

ifrs-full

Trade Receivables

TradeReceivables

13897000

eur

CY2021Q4

ifrs-full

Trade Receivables

TradeReceivables

7424000

eur

CY2022

adse

Other Receivables Financial

OtherReceivablesFinancial

925000

eur

CY2021

adse

Other Receivables Financial

OtherReceivablesFinancial

141000

eur

CY2022Q4

adse

Other Receivables Nonfinancial

OtherReceivablesNonfinancial

2169000

eur

CY2021Q4

adse

Other Receivables Nonfinancial

OtherReceivablesNonfinancial

2825000

eur

CY2022Q4

adse

Deferred Expenses And Accrued Income

DeferredExpensesAndAccruedIncome

678000

eur

CY2021Q4

adse

Deferred Expenses And Accrued Income

DeferredExpensesAndAccruedIncome

917000

eur

CY2022

adse

Total Receivable

TotalReceivable

17670000

eur

CY2021

adse

Total Receivable

TotalReceivable

11308000

eur

CY2022Q4

ifrs-full

Other Noncurrent Receivables

OtherNoncurrentReceivables

2113000

eur

CY2021Q4

ifrs-full

Other Noncurrent Receivables

OtherNoncurrentReceivables

656000

eur

CY2022

ifrs-full

Disclosure Of Cash Flow Statement Explanatory

DisclosureOfCashFlowStatementExplanatory

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold">kEUR</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Dec. 31,<br/> 2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Dec. 31,<br/> 2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%">Cash</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">Cash at banks</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">34,440</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">101,812</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 4pt">Total</td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">34,441</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">101,813</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>

CY2022Q4

ifrs-full

Cash

1000

eur

CY2021Q4

ifrs-full

Cash

1000

eur

CY2022Q4

ifrs-full

Balances With Banks

BalancesWithBanks

34440000

eur

CY2021Q4

ifrs-full

Balances With Banks

BalancesWithBanks

101812000

eur

CY2022Q4

ifrs-full

Other Cash And Cash Equivalents

OtherCashAndCashEquivalents

34441000

eur

CY2021Q4

ifrs-full

Other Cash And Cash Equivalents

OtherCashAndCashEquivalents

101813000

eur

CY2022Q4

ifrs-full

Restricted Cash And Cash Equivalents

RestrictedCashAndCashEquivalents

12042000

eur

CY2021Q4

ifrs-full

Restricted Cash And Cash Equivalents

RestrictedCashAndCashEquivalents

0

eur

CY2022

adse

Description Of Shareholders

DescriptionOfShareholders

The shareholders of EUSG II (formerly EUSG), who decided not to redeem their shares, received 4,870,815 shares in ADSE Holdco with a nominal value of USD 0.0001 resulting in share capital of EUR 431. To effectuate the merger of ADSE Holdco with ADSE GM additional 24,683,333 were issued to the equity holders of ADSE GM with a nominal value of USD 0.0001 resulting in an increase of share capital by EUR 2,184. As part of the PIPE investment additional 15.6 million shares with a nominal value of USD 0.0001 were issued resulting in an increase in share capital by EUR 1,380. As of December 31, 2021, following the merger and capital reorganization ADSE Holdco had 48,807,898 shares in issue.

CY2021

adse

Share Exchange Price

ShareExchangePrice

32039

shares

CY2021

adse

Ordinary Shares

OrdinaryShares

24683333

shares

CY2021Q4

adse

Numberofsharesoutstanding

48808000

eur

CY2020Q4

adse

Numberofsharesoutstanding

32000

eur

CY2019Q4

adse

Numberofsharesoutstanding

32000

eur

CY2021

adse

Share For Share Exchange

ShareForShareExchange

24651000

eur

CY2021

adse

Business Combination

BusinessCombination

24125000

eur

CY2022

adse

Stock Compensations

StockCompensations

69000

eur

CY2022Q4

adse

Numberofsharesoutstanding

48877000

eur

CY2021Q4

adse

Numberofsharesoutstanding

48808000

eur

CY2020Q4

adse

Numberofsharesoutstanding

32000

eur

CY2022Q4

ifrs-full

Treasury Shares

TreasuryShares

28000

eur

CY2022

adse

In Issue And Outstanding

InIssueAndOutstanding

48905000

eur

CY2021

adse

In Issue And Outstanding

InIssueAndOutstanding

48808000

eur

CY2020

adse

In Issue And Outstanding

InIssueAndOutstanding

32000

eur

CY2022Q4

adse

Share Capital Amounts

ShareCapitalAmounts

4000

eur

CY2021Q4

adse

Share Capital Amounts

ShareCapitalAmounts

4000

eur

CY2020Q4

adse

Share Capital Amounts

ShareCapitalAmounts

32000

eur

CY2022Q4

adse

Share Capital

ShareCapital

4000

eur

CY2021Q4

adse

Share Capital

ShareCapital

4000

eur

CY2020Q4

adse

Share Capital

ShareCapital

32000

eur

CY2022Q4

adse

Capital Reserves

CapitalReserves

216815000

eur

CY2021Q4

adse

Capital Reserves

CapitalReserves

214100000

eur

CY2020Q4

adse

Capital Reserves

CapitalReserves

20950000

eur

CY2022Q4

adse

Other Equity

OtherEquity

45000

eur

CY2021Q4

adse

Other Equity

OtherEquity

-2000

eur

CY2022Q4

adse

Retained Earning

RetainedEarning

-117211000

eur

CY2021Q4

adse

Retained Earning

RetainedEarning

-29570000

eur

CY2020Q4

adse

Retained Earning

RetainedEarning

-19291000

eur

CY2022

adse

Profit Loss Amount

ProfitLossAmount

-18906000

eur

CY2021

adse

Profit Loss Amount

ProfitLossAmount

-87640000

eur

CY2020

adse

Profit Loss Amount

ProfitLossAmount

-10280000

eur

CY2022Q4

ifrs-full

Equity Attributable To Owners Of Parent

EquityAttributableToOwnersOfParent

80747000

eur

CY2021Q4

ifrs-full

Equity Attributable To Owners Of Parent

EquityAttributableToOwnersOfParent

96892000

eur

CY2020Q4

ifrs-full

Equity Attributable To Owners Of Parent

EquityAttributableToOwnersOfParent

-8589000

eur

CY2022

ifrs-full

Other Adjustments To Reconcile Profit Loss

OtherAdjustmentsToReconcileProfitLoss

80747000

eur

CY2021

ifrs-full

Other Adjustments To Reconcile Profit Loss

OtherAdjustmentsToReconcileProfitLoss

96892000

eur

CY2020

ifrs-full

Other Adjustments To Reconcile Profit Loss

OtherAdjustmentsToReconcileProfitLoss

-8589000

eur

CY2022Q4

ifrs-full

Current Warrant Liability

CurrentWarrantLiability

2439000

eur

CY2021Q4

ifrs-full

Current Warrant Liability

CurrentWarrantLiability

12767000

usd

CY2022

adse

Public Warrants

PublicWarrants

7187500

shares

CY2022

adse

Private Warrants

PrivateWarrants

4375000

shares

CY2021

adse

Lender Warrants In Issue

LenderWarrantsInIssue

100000

shares

CY2021

ifrs-full

Weighted Average Share Price2019

WeightedAverageSharePrice2019

11.5

CY2021

adse

Exceeds Share Price

ExceedsSharePrice

18

CY2021

adse

Fair Value Of Public Warrants Per Share

FairValueOfPublicWarrantsPerShare

0.01

CY2022

adse

Expected Termyears

ExpectedTermyears

P3Y11M23D

CY2021

adse

Expected Termyears

ExpectedTermyears

P4Y11M23D

CY2022

ifrs-full

Description Of Risk Free Interest Rate Share Options Granted

DescriptionOfRiskFreeInterestRateShareOptionsGranted

0.0411

pure

CY2021

ifrs-full

Description Of Risk Free Interest Rate Share Options Granted

DescriptionOfRiskFreeInterestRateShareOptionsGranted

0.0126

pure

CY2022

ifrs-full

Expected Dividend As Percentage Share Options Granted

ExpectedDividendAsPercentageShareOptionsGranted

0

pure

CY2021

ifrs-full

Expected Dividend As Percentage Share Options Granted

ExpectedDividendAsPercentageShareOptionsGranted

0

pure

CY2022

ifrs-full

Description Of Expected Volatility Share Options Granted

DescriptionOfExpectedVolatilityShareOptionsGranted

0.4694

pure

CY2021

ifrs-full

Description Of Expected Volatility Share Options Granted

DescriptionOfExpectedVolatilityShareOptionsGranted

0.234

pure

CY2022

adse

Dividend Yields Percentage

DividendYieldsPercentage

0

pure

CY2022Q4

adse

Trade Payables

TradePayables

10012000

eur

CY2021Q4

adse

Trade Payables

TradePayables

6643000

eur

CY2022Q4

ifrs-full

Trade And Other Current Payables To Related Parties

TradeAndOtherCurrentPayablesToRelatedParties

1821000

eur

CY2021Q4

ifrs-full

Trade And Other Current Payables To Related Parties

TradeAndOtherCurrentPayablesToRelatedParties

2980000

eur

CY2022Q4

ifrs-full

Current Accrued Expenses And Other Current Liabilities

CurrentAccruedExpensesAndOtherCurrentLiabilities

1898000

eur

CY2021Q4

ifrs-full

Current Accrued Expenses And Other Current Liabilities

CurrentAccruedExpensesAndOtherCurrentLiabilities

1194000

eur

CY2022Q4

adse

Other Payables Financial

OtherPayablesFinancial

153000

eur

CY2021Q4

adse

Other Payables Financial

OtherPayablesFinancial

476000

eur

CY2022Q4

ifrs-full

Other Noncurrent Nonfinancial Liabilities

OtherNoncurrentNonfinancialLiabilities

1967000

eur

CY2021Q4

ifrs-full

Other Noncurrent Nonfinancial Liabilities

OtherNoncurrentNonfinancialLiabilities

2865000

eur

CY2022Q4

ifrs-full

Trade And Other Payables

TradeAndOtherPayables

15852000

eur

CY2021Q4

ifrs-full

Trade And Other Payables

TradeAndOtherPayables

14159000

eur

CY2020Q4

adse

Other Provision Amount

OtherProvisionAmount

3508000

eur

CY2021

ifrs-full

Additional Provisions Other Provisions

AdditionalProvisionsOtherProvisions

8354000

eur

CY2021

adse

Utilized Provisions

UtilizedProvisions

752000

eur

CY2021

adse

Reversal

1490000

eur

CY2021Q4

adse

Other Provision Amount

OtherProvisionAmount

9620000

eur

CY2021Q4

ifrs-full

Current Provisions

CurrentProvisions

2182000

eur

CY2021Q4

ifrs-full

Noncurrent Provisions

NoncurrentProvisions

7438000

eur

CY2021Q4

ifrs-full

Provisions

9620000

eur

CY2021Q4

adse

Other Provision Amount

OtherProvisionAmount

9620000

eur

CY2022

ifrs-full

Additional Provisions Other Provisions

AdditionalProvisionsOtherProvisions

1729000

eur

CY2022

adse

Utilized Provisions

UtilizedProvisions

-2057000

eur

CY2022

adse

Reversal

-517000

eur

CY2022Q4

adse

Other Provision Amount

OtherProvisionAmount

8775000

eur

CY2022Q4

ifrs-full

Current Provisions

CurrentProvisions

2056000

eur

CY2022Q4

ifrs-full

Noncurrent Provisions

NoncurrentProvisions

6719000

eur

CY2022Q4

ifrs-full

Provisions

8775000

eur

CY2022Q4

ifrs-full

Other Borrowings

OtherBorrowings

0

eur

CY2021

adse

Total Contribution

TotalContribution

7522000

eur

CY2021

adse

Subscribed Capital

SubscribedCapital

7522000

eur

CY2022

adse

Interest Rate Percentage

InterestRatePercentage

0.0596

pure

CY2021Q4

adse

Equity Holders Bosch

EquityHoldersBosch

25300000

eur

CY2022

adse

Book Value Assets

BookValueAssets

52462000

usd

CY2022

adse

Fair Value Assets

FairValueAssets

52462000

usd

CY2021

adse

Book Value Assets

BookValueAssets

111326000

usd

CY2021

adse

Fair Value Assets

FairValueAssets

111326000

usd

CY2022

adse

Book Value Liabilites

BookValueLiabilites

17902000

usd

CY2022

adse

Fair Value Liabilites

FairValueLiabilites

14425000

usd

CY2021

adse

Book Value Liabilites

BookValueLiabilites

32076000

usd

CY2021

adse

Fair Value Liabilites

FairValueLiabilites

30010000

usd

CY2022

ifrs-full

Description Of Reasons For Fair Value Measurement Assets

DescriptionOfReasonsForFairValueMeasurementAssets

For all 331,250 RSUs granted on March 04, 2022, the grant date fair value is USD 8.40. For 11,600 RSUs granted on March 31, 2022, to an external consultant, the grant date fair value is USD 8.62.

CY2022Q4

ifrs-full

Weighted Average Fair Value At Measurement Date Share Options Granted

WeightedAverageFairValueAtMeasurementDateShareOptionsGranted

8410

usd

CY2021

adse

Number Of Awardsin Shares

NumberOfAwardsinShares

187500

shares

CY2021

adse

Maximum Termyears

MaximumTermyears

P4Y

CY2021

adse

Awards Granted In The Reporting Period

AwardsGrantedInTheReportingPeriod

187500

shares

CY2021Q4

ifrs-full

Number Of Shares Outstanding

NumberOfSharesOutstanding

187500

shares

CY2022

adse

Number Of Awardsin Shares

NumberOfAwardsinShares

342850

shares

CY2022

adse

Maximum Termyears

MaximumTermyears

P4Y

CY2021Q4

ifrs-full

Number Of Shares Outstanding

NumberOfSharesOutstanding

187500

shares

CY2022

adse

Awards Granted In The Reporting Period

AwardsGrantedInTheReportingPeriod

155350

shares

CY2022

adse

Awards Forfeited In The Reporting Period

AwardsForfeitedInTheReportingPeriod

-50000

shares

CY2022

adse

Awards Exercised In The Reporting Period

AwardsExercisedInTheReportingPeriod

-96873

shares

CY2022Q4

ifrs-full

Number Of Shares Outstanding

NumberOfSharesOutstanding

195977

shares

CY2021

adse

Remaining Contractual Lifetime

RemainingContractualLifetime

P1Y9M18D

CY2020

adse

Average Expected Percentage

AverageExpectedPercentage

0

pure

CY2022Q4

adse

Increase In Equity

IncreaseInEquity

1370000

eur

CY2021Q4

adse

Increase In Equity

IncreaseInEquity

10000

eur

CY2022

ifrs-full

Tax Effect Of Tax Losses

TaxEffectOfTaxLosses

27609000

usd

CY2021

ifrs-full

Tax Effect Of Tax Losses

TaxEffectOfTaxLosses

0

usd

CY2022

adse

Shareholder Loans

ShareholderLoans

1370000

eur

CY2021

adse

Shareholder Loans

ShareholderLoans

10000

eur

CY2020

adse

Shareholder Loans

ShareholderLoans

0

eur

CY2022

adse

Exercise Price

ExercisePrice

10000

usd

CY2022

adse

Noncurrent Lending

NoncurrentLending

1397000

eur

CY2021

adse

Noncurrent Lending

NoncurrentLending

0

eur

CY2022Q4

adse

Financial Assets Recognized

FinancialAssetsRecognized

171000

eur

CY2021Q4

adse

Financial Assets Recognized

FinancialAssetsRecognized

2020000

eur

CY2020Q4

adse

Financial Assets Recognized

FinancialAssetsRecognized

9000

eur

CY2022Q4

adse

Trade Receivables And Contract Assets Arising From Contracts With Customers

TradeReceivablesAndContractAssetsArisingFromContractsWithCustomers

19847000

eur

CY2021Q4

adse

Trade Receivables And Contract Assets Arising From Contracts With Customers

TradeReceivablesAndContractAssetsArisingFromContractsWithCustomers

13782000

eur

CY2022Q4

adse

Thereof Trade Receivables

thereofTradeReceivables

16557000

eur

CY2021Q4

adse

Thereof Trade Receivables

thereofTradeReceivables

10865000

eur

CY2022Q4

adse

Thereof Contract Assets

thereofContractAssets

6000

eur

CY2021Q4

adse

Thereof Contract Assets

thereofContractAssets

973000

eur

CY2022Q4

adse

Thereof Other Investments

thereofOtherInvestments

3284000

eur

CY2021Q4

adse

Thereof Other Investments

thereofOtherInvestments

1944000

eur

CY2022Q4

adse

Impairment Loss On Trade Receivables And Contract Assets Arising From Contracts With Customers

ImpairmentLossOnTradeReceivablesAndContractAssetsArisingFromContractsWithCustomers

-256000

eur

CY2021Q4

adse

Impairment Loss On Trade Receivables And Contract Assets Arising From Contracts With Customers

ImpairmentLossOnTradeReceivablesAndContractAssetsArisingFromContractsWithCustomers

-163000

eur

CY2022Q4

adse

Total Trade Receivable

TotalTradeReceivable

19591000

eur

CY2021Q4

adse

Total Trade Receivable

TotalTradeReceivable

13619000

eur

CY2022Q4

ifrs-full

Trade And Other Receivables

TradeAndOtherReceivables

16557000

eur

CY2022

ifrs-full

Impairment Loss Recognised In Profit Or Loss Trade Receivables

ImpairmentLossRecognisedInProfitOrLossTradeReceivables

59000

eur

CY2021Q4

ifrs-full

Trade And Other Receivables

TradeAndOtherReceivables

10865000

eur

CY2021

ifrs-full

Impairment Loss Recognised In Profit Or Loss Trade Receivables

ImpairmentLossRecognisedInProfitOrLossTradeReceivables

58000

eur

CY2022

adse

Cash And Cash Equivalents Comprise Cash

CashAndCashEquivalentsCompriseCash

34441000

eur

CY2021

adse

Cash And Cash Equivalents Comprise Cash

CashAndCashEquivalentsCompriseCash

101813000

eur

CY2022Q4

ifrs-full

Balances With Banks

BalancesWithBanks

34440000

eur

CY2020

adse

Currency Risks

CurrencyRisks

10087000

eur

CY2021

adse

Currency Risks

CurrencyRisks

101729

eur

CY2020

adse

Foreign Currencies

ForeignCurrencies

0.87

pure

CY2021

adse

Foreign Currencies

ForeignCurrencies

0.94

pure

CY2019

adse

Foreign Currencies

ForeignCurrencies

0.99

pure

CY2021

adse

Percentage Of Depreciated

PercentageOfDepreciated

0.10

pure

CY2020

adse

Percentage Of Depreciated

PercentageOfDepreciated

0.10

pure

CY2022

adse

Foreign Currency Risk Variances

ForeignCurrencyRiskVariances

+/-10.0%

CY2022

adse

Foreign Currency Risks

ForeignCurrencyRisks

-917/+1,121

CY2021

adse

Foreign Currency Risk Variances

ForeignCurrencyRiskVariances

+/-10.0%

CY2021

adse

Foreign Currency Risks

ForeignCurrencyRisks

-9,200/+41,800

CY2022

ifrs-full

Description Of Accounting Policy For Segment Reporting Explanatory

DescriptionOfAccountingPolicyForSegmentReportingExplanatory

<table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">5.</td><td style="text-align: justify">Segment reporting</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Information reported to ADSE’s chief operating decision maker (CODM) for the purposes of resource allocation and assessment of segment performance is focused on the geographic region of ADSE’s business activities. Therefore, ADSE manages its operations based on two operating segments referring to its business activities in Europe and North America.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Although the segment “North America” does not meet the quantitative thresholds to be reported as a reportable segment, the management has concluded that this segment should nevertheless be reported separately, as it is closely monitored by the CODM as a potential growth segment and is expected to contribute to ADSE’s revenue in future. In consequence, operating segments are reported in a manner consistent with the internal reporting provided to the CODM.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The CODM has been identified as the board of directors of ADSE Holdco. The board of directors regularly reviews operating results and makes decisions about the allocation of ADSE’s resources. ADSE’s focus is on the research, development and manufacturing of products and services in the fields of energy management, energy storage and e-mobility.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ADSE evaluates segmental performance based on segment revenue and segment earnings before interest, taxation, depreciation, and amortization (EBITDA). Inter-segment sales are priced along the same lines as sales to external customers.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; padding-bottom: 1.5pt"><p style="text-indent: -0.25in; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"/><p style="text-indent: -0.25in; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><b>kEUR</b></p></td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="18" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Europe</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">North<br/> America</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Total<br/> reportable<br/> segments</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Eliminations</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Total Group</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 40%; text-align: left">External revenues</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">25,699</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">731</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">26,430</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-244">-</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">26,430</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1.5pt">Inter-segment revenues</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">19,924</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-245">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">19,924</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-19,924</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-246">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left; padding-bottom: 4pt">Total revenue</td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">45,623</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">731</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">46,354</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-19,924</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">26,430</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: right"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left; padding-bottom: 4pt">Earnings before interest taxation depreciation and amortization (EBITDA)</td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-20,711</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-8,219</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-28,931</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-3,156</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-32,086</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1.5pt">Depreciation and amortization</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-4,312</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-25</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-4,337</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-247">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-4,337</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left; padding-bottom: 4pt">Operating result (EBIT)</td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-25,023</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-8,245</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-33,268</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-3,156</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-36,423</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Financial income</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">19,922</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-248">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">19,922</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">593</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">20,515</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; padding-bottom: 1.5pt; text-align: left">Financial costs</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-424</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-3</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-427</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-249">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-427</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left; padding-bottom: 4pt">Financial result</td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">19,498</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-3</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">19,495</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">593</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">20,089</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left; padding-bottom: 4pt">Profit before tax</td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-5,525</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-8,248</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-13,772</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-2,562</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-16,335</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1.5pt">Income tax expenses</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-3,060</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-250">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-3,060</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">488</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-2,572</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left; padding-bottom: 4pt">Profit for the year</td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-8,584</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-8,248</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-16,832</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-2,075</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-18,906</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; padding-bottom: 1.5pt; font-weight: bold">kEUR</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="18" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Europe</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">North<br/> America</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Total<br/> reportable<br/> segments</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Eliminations</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Total Group</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 40%; text-align: left">External revenues</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">33,035</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-251">-</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">33,035</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-252">-</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">33,035</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1.5pt">Inter-segment revenues</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,206</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-253">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,206</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,206</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-254">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left; padding-bottom: 4pt">Total revenue</td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">35,241</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-255">-</div></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">35,241</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">2,206</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">33,035</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: right"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left; padding-bottom: 4pt">Earnings before interest taxation depreciation and amortization (EBITDA)</td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-14,467</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-774</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-15,241</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">82</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-15,159</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1.5pt">Depreciation and amortization</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-3,485</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-256">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-3,485</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-257">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-3,485</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left; padding-bottom: 4pt">Operating result (EBIT)</td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-17,952</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-774</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-18,725</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">82</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-18,643</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Financial income</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">47</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-258">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">47</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-259">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">47</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1.5pt">Financial costs</td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: left"> </td><td style="text-align: right">-2,835</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-260">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: left"> </td><td style="text-align: right">-2,835</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-261">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: left"> </td><td style="text-align: right">-2,835</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Listing fee</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-65,796</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-262">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-65,796</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-263">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-65,796</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left; padding-bottom: 1.5pt">Financial result</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">-68,583</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-264">-</div></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">-68,583</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-265">-</div></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">-68,583</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left; padding-bottom: 4pt">Profit before tax</td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-86,535</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-774</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-87,309</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">82</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-87,227</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1.5pt">Income tax expenses</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-413</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-266">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-413</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-267">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-413</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left; padding-bottom: 4pt">Profit for the year</td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-86,948</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-774</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-87,722</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">82</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-87,640</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; padding-bottom: 1.5pt; font-weight: bold">kEUR</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="18" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2020</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Europe</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">North<br/> America</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Total<br/> reportable<br/> segments</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Eliminations</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Total Group</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 40%; text-align: left">External revenues</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">47,370</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-268"> -</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">47,370</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-269"> -</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">47,370</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1.5pt">Inter-segment revenues</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-270">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-271">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-272">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-273">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-274">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left; padding-bottom: 4pt">Total revenue</td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">47,370</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-275">-</div></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">47,370</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-276">-</div></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">47,370</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: right"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left; padding-bottom: 4pt">Earnings before interest taxation depreciation and amortization (EBITDA)</td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-6,549</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-277">-</div></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-6,549</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-278">-</div></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-6,549</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Depreciation and amortization</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-1,641</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-279">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-1,641</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-280">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-1,641</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left; padding-bottom: 4pt">Operating result (EBIT)</td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-8,190</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-281">-</div></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-8,190</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-282">-</div></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-8,190</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Finance income</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-283">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-284">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-285">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-286">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-287">-</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1.5pt">Finance costs</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-2,135</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-288">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-2,135</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-289">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-2,135</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left; padding-bottom: 1.5pt">Financial result</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">-2,135</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-290">-</div></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">-2,135</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-291">-</div></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">-2,135</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left; padding-bottom: 4pt">Profit before tax</td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-10,325</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-292">-</div></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-10,325</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-293">-</div></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-10,325</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1.5pt">Income tax expenses</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">45</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-294">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">45</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-295">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">45</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left; padding-bottom: 4pt">Profit for the year</td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-10,280</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-296">-</div></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-10,280</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-297">-</div></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-10,280</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Total non-current assets of both reportable segments can be broken down as follows:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold">kEUR</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Dec. 31,<br/> 2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Dec. 31,<br/> 2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Dec. 31,<br/> 2020</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%">Europe</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">40,811</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">24,072</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">20,003</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">North America</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">126</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-298">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-299">-</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Eliminations</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-6,745</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-300">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-301">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; padding-bottom: 4pt">Total non-current assets</td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">34,192</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">24,072</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">20,003</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Total current assets of both reportable segments can be broken down as follows:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold">kEUR</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Dec. 31,<br/> 2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Dec. 31,<br/> 2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Dec. 31,<br/> 2020</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%">Europe</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">108,050</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">126,103</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">25,325</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">North America</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">22,404</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,174</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-302">-</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Eliminations</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-25,204</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-2,124</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-303">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; padding-bottom: 4pt">Total current assets</td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">105,250</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">127,152</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">25,325</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Total liabilities of both reportable segments can be broken down as follows:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold">kEUR</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Dec. 31,<br/> 2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Dec. 31,<br/> 2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Dec. 31,<br/> 2020</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%">Europe</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">57,698</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">54,170</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">53,917</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">North America</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">24,208</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,369</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-304">-</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Eliminations</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-23,211</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-2,206</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-305">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; padding-bottom: 4pt">Total liabilities</td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">58,695</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">54,332</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">53,917</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Total revenues of both reportable segments can be broken down as follows:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold">kEUR</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2020</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%">Europe</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">45,623</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">33,035</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">47,370</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">North America</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">731</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-306">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-307">-</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Eliminations</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-19,924</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-308">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-309">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; padding-bottom: 4pt">Total revenues</td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">26,430</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">33,035</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">47,370</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Revenues from two major customers of ADSE represented kEUR 7,145 and kEUR 8,208 respectively (2021: one customer, kEUR 18,480, 2020: one customer, kEUR 41,041) of ADSE’s total revenues.</p>

CY2022

ifrs-full

Disclosure Of Other Noncurrent Assets Explanatory

DisclosureOfOtherNoncurrentAssetsExplanatory

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold">kEUR</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Dec. 31,<br/> 2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Dec. 31,<br/> 2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Dec. 31,<br/> 2020</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%">Europe</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">40,811</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">24,072</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">20,003</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">North America</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">126</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-298">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-299">-</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Eliminations</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-6,745</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-300">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-301">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; padding-bottom: 4pt">Total non-current assets</td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">34,192</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">24,072</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">20,003</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>

CY2022Q4

ifrs-full

Noncurrent Financial Assets

NoncurrentFinancialAssets

34192000

eur

CY2021Q4

ifrs-full

Noncurrent Financial Assets

NoncurrentFinancialAssets

24072000

eur

CY2020Q4

ifrs-full

Noncurrent Financial Assets

NoncurrentFinancialAssets

20003000

eur

CY2022Q4

ifrs-full

Financial Assets

FinancialAssets

105250000

eur

CY2021Q4

ifrs-full

Financial Assets

FinancialAssets

127152000

eur

CY2020Q4

ifrs-full

Financial Assets

FinancialAssets

25325000

eur

CY2022Q4

ifrs-full

Financial Liabilities

FinancialLiabilities

58695000

eur

CY2021Q4

ifrs-full

Financial Liabilities

FinancialLiabilities

54332000

eur

CY2020Q4

ifrs-full

Financial Liabilities

FinancialLiabilities

53917000

eur

CY2022

ifrs-full

Disclosure Of Geographical Areas Explanatory

DisclosureOfGeographicalAreasExplanatory

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold">kEUR</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2020</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%">Europe</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">45,623</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">33,035</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">47,370</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">North America</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">731</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-306">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-307">-</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Eliminations</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-19,924</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-308">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-309">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; padding-bottom: 4pt">Total revenues</td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">26,430</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">33,035</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">47,370</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>

CY2022

ifrs-full

Other Revenue

OtherRevenue

26430000

eur

CY2021

ifrs-full

Other Revenue

OtherRevenue

33035000

eur

CY2020

ifrs-full

Other Revenue

OtherRevenue

47370000

eur

CY2022

adse

Segment Revenues

SegmentRevenues

8208000

eur

CY2022

ifrs-full

Disclosure Of Related Party Explanatory

DisclosureOfRelatedPartyExplanatory

<table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">6.</td><td style="text-align: justify">Related party transactions</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Related parties are natural persons or companies that can be influenced by the reporting entity, that can exert an influence on the reporting entity or that are under the influence of another related party of the reporting entity. Transactions between related parties mainly include loans, leases, and management services. All business transactions, receivables and liabilities with related parties existing at the reporting date result from ordinary business activities and are conducted at arm’s length.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Note 1 provides information about ADSE’s structure, including details of the shareholders, subsidiaries, and entities with significant influence on ADSE.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table provides the total amount of transactions that have been entered into with related parties for the relevant financial year.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; font-weight: bold">kEUR</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="18" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Sales of<br/> goods and<br/> services</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Purchase of<br/> goods and<br/> services</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Other<br/> income</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Other<br/> expense</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Interest<br/> expense</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Transactions with shareholders*</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">76</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">-151</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">15</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">-80</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">-2</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Transactions with affiliated companies*</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">262</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-4,603</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">35</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-6,027</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-59</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Transactions with associated companies</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">153</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-85</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-310">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-98</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-311">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; padding-bottom: 4pt">Total</td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">491</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-4,839</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">50</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-6,205</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-61</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"/><td style="width: 0.25in; text-align: left">*)</td><td style="text-align: justify">Transactions with shareholders comprise agreements with ADSH, Robert Bosch GmbH and Bosch Thermotechnik GmbH. Transactions with affiliates include transaction with subsidiaries of the shareholders.</td> </tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In the financial year 2021 ADSE acquired several items of property, plant, and equipment from ads-tec Dresden GmbH for a purchase price of kEUR 774. As of December 31, 2021, these items are presented within property, plant, and equipment in the statement of financial position.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; font-weight: bold">kEUR</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="18" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Sales of<br/> goods and<br/> services</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Purchase of<br/> goods and<br/> services</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Other<br/> income</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Other<br/> expense</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Interest<br/> expense</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Transactions with shareholders*</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1,601</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">-26</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-312">-</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">-457</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">-1,995</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Transactions with affiliated companies*</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,253</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-2,073</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">21</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-5,402</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-313">-</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Transactions with associated companies</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-314">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-81</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-315">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-47</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-316">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; padding-bottom: 4pt">Total</td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">3,854</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-2,181</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">21</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-5,906</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-1,995</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"/><td style="width: 0.25in; text-align: left">*)</td><td style="text-align: justify">Transactions with shareholders comprise agreements with ADSH, Robert Bosch GmbH and Bosch Thermotechnik GmbH. Transactions with affiliates include transaction with subsidiaries of the share-holders.</td> </tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; font-weight: bold">kEUR</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="18" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2020</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Sales of <br/> goods and<br/> services</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Purchase of<br/> goods and<br/> services</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Other<br/> income</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Other <br/> expense</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Interest <br/> expense</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Transactions with shareholders*</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-317">-</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">-371</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-318"> -</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">-2,451</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">-1,368</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Transactions with affiliated companies*</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">22</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-4,197</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-319">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-3,195</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-48</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Transactions with associated companies</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-320">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-75</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-321">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-54</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-322">-</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">Transactions with related persons</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-323">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-324">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-325">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-2</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-326">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 4pt">Total</td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">22</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-4,643</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-327">-</div></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-5,702</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-1,416</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"/><td style="width: 0.25in; text-align: left">*)</td><td style="text-align: justify">Transactions with shareholders comprise agreements with ADSH, Robert Bosch GmbH and Bosch Thermotechnik GmbH as well as any subsidiaries of Robert Bosch GmbH. Transactions with affiliates include transaction with subsidiaries of ADSH.</td> </tr></table><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Other expenses</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Other expenses mainly include the administration fees of kEUR 3,412 (2021: 2,963, 2020: kEUR 2,143) paid to ads-tec Administration GmbH, management fees of kEUR 0 (2021: kEUR 450, 2020: kEUR 450) paid to ADSH and development costs of kEUR 1,095 (2021: kEUR 1,479, 2020: kEUR 262) paid to ads-tec Engineering GmbH.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Interest expenses</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Interest expenses mainly include the interest expense of kEUR 0 (2021: kEUR 338, 2020: kEUR 261) on the loan from ADSH, the interest expense of kEUR 0 (2021: kEUR 1,625, 2020: kEUR 1,070) on the loan from the other shareholder.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The table below provides an overview of significant account balances and transactions from such relationships.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Receivables and liabilities to shareholders and affiliated companies</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Liabilities to affiliated companies mainly comprise a liability to ads-tec Industrial IT GmbH in the amount of kEUR 1,167 (2021: kEUR 12), a liability to ads-tec Administration GmbH in the amount of kEUR 476 (2021: kEUR 838) and a liability to ads-tec Dresden GmbH in the amount of kEUR 28 (2021: kEUR 1,199).</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; font-weight: bold">kEUR</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Dec. 31, 2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Dec. 31, 2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Receivables</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Payables</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Receivables</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Payables</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: left">Transactions with shareholders*</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">96</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">216</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">2,108</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">311</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Transactions with affiliated companies*</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">212</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,144</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">25</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,685</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Transactions with associated companies</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-328">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">12</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-329">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">8</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; padding-bottom: 4pt">Total</td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">308</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">2,372</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">2,133</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">3,005</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"/><td style="width: 0.25in; text-align: left">*)</td><td style="text-align: justify">Transactions with shareholders comprise agreements with ADSH, Robert Bosch GmbH and Bosch Thermotechnik GmbH. Transactions with affiliates include transaction with subsidiaries of the shareholders.</td> </tr></table><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Key management personnel compensation</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of the comparison date December 31, 2020, key management personnel comprised the board of directors and authorized representatives of ADSE GM. Key management personnel as of the reporting date and as of December 31, 2021, comprise the board of directors and authorized representatives of ADSE Holdco. As of the reporting date the board of directors is represented by the following people:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom; "> <td style="border-bottom: Black 1.5pt solid; width: 69%; font-weight: bold; text-align: left">Key management personnel</td> <td style="padding-bottom: 1.5pt; width: 1%; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; width: 30%; font-weight: bold; text-align: center">Role</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Joseph Brancato</td> <td style="text-align: left"> </td><td style="text-align: left">Director</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Wolfgang Breme</td> <td style="text-align: left"> </td><td style="text-align: left">Chief Financial Officer</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Bazmi Husain</td> <td style="text-align: left"> </td><td style="text-align: left">Director</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">K.R. Kent</td> <td style="text-align: left"> </td><td style="text-align: left">Director</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Hakan Konyar</td> <td style="text-align: left"> </td><td style="text-align: left">Chief Production Officer</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Kurt Lauk, PhD</td> <td style="text-align: left"> </td><td style="text-align: left">Director (Chairman)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Salina Love</td> <td style="text-align: left"> </td><td style="text-align: left">Director</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">John Neville</td> <td style="text-align: left"> </td><td style="text-align: left">Chief Sales Officer</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Thorsten Ochs</td> <td style="text-align: left"> </td><td style="text-align: left">Chief Technology Officer</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Sebastian Schypulla</td> <td style="text-align: left"> </td><td style="text-align: left">Chief Purchase and Logistics Officer</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Thomas Speidel</td> <td style="text-align: left"> </td><td style="text-align: left">Chief Executive Officer and Director</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Robert Vogt</td> <td style="text-align: left"> </td><td style="text-align: left">Chief Accounting Officer</td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Key management personnel compensation comprised the following:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold">kEUR</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2020</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Short-term employee benefits</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">2,532</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1,196</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">783</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">Share-based payments</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,228</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">10</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-330">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 4pt">Total</td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">4,760</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">1,206</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">783</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Key management personnel compensation for the financial year 2021 solely includes short-term employee benefits for four members of the key management as the rest of the key management was first appointed on December 23, 2021 and did not receive any short-term employee benefits.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Short term employee benefits include salary, company cars, training, and other benefits. Share-based payments include expenses for restricted stock units and non-qualified stock options (see note 4.3).</p>

CY2022

ifrs-full

Disclosure Of Transactions Between Related Parties Explanatory

DisclosureOfTransactionsBetweenRelatedPartiesExplanatory

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; font-weight: bold">kEUR</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="18" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Sales of<br/> goods and<br/> services</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Purchase of<br/> goods and<br/> services</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Other<br/> income</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Other<br/> expense</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Interest<br/> expense</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Transactions with shareholders*</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">76</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">-151</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">15</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">-80</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">-2</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Transactions with affiliated companies*</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">262</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-4,603</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">35</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-6,027</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-59</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Transactions with associated companies</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">153</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-85</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-310">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-98</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-311">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; padding-bottom: 4pt">Total</td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">491</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-4,839</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">50</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-6,205</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-61</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; font-weight: bold">kEUR</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="18" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Sales of<br/> goods and<br/> services</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Purchase of<br/> goods and<br/> services</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Other<br/> income</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Other<br/> expense</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Interest<br/> expense</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Transactions with shareholders*</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1,601</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">-26</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-312">-</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">-457</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">-1,995</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Transactions with affiliated companies*</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,253</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-2,073</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">21</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-5,402</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-313">-</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Transactions with associated companies</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-314">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-81</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-315">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-47</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-316">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; padding-bottom: 4pt">Total</td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">3,854</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-2,181</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">21</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-5,906</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-1,995</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; font-weight: bold">kEUR</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="18" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2020</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Sales of <br/> goods and<br/> services</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Purchase of<br/> goods and<br/> services</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Other<br/> income</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Other <br/> expense</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Interest <br/> expense</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Transactions with shareholders*</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-317">-</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">-371</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-318"> -</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">-2,451</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">-1,368</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Transactions with affiliated companies*</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">22</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-4,197</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-319">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-3,195</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-48</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Transactions with associated companies</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-320">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-75</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-321">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-54</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-322">-</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">Transactions with related persons</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-323">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-324">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-325">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-2</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-326">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 4pt">Total</td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">22</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-4,643</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-327">-</div></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-5,702</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">-1,416</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>

CY2022

ifrs-full

Payments To Suppliers For Goods And Services

PaymentsToSuppliersForGoodsAndServices

491000

eur

CY2022

adse

Purchase Of Goods And Services

PurchaseOfGoodsAndServices

4839000

eur

CY2022

adse

Other Incomes

OtherIncomes

-50000

eur

CY2022

ifrs-full

Other Expense By Function

OtherExpenseByFunction

6205000

eur

CY2022

adse

Interest Expenses

InterestExpenses

61000

eur

CY2021Q4

adse

Property Plant And Equipments

PropertyPlantAndEquipments

774000

eur

CY2021

ifrs-full

Payments To Suppliers For Goods And Services

PaymentsToSuppliersForGoodsAndServices

3854000

eur

CY2021

adse

Purchase Of Goods And Services

PurchaseOfGoodsAndServices

2181000

eur

CY2021

adse

Other Incomes

OtherIncomes

-21000

eur

CY2021

ifrs-full

Other Expense By Function

OtherExpenseByFunction

5906000

eur

CY2021

adse

Interest Expenses

InterestExpenses

1995000

eur

CY2020

ifrs-full

Payments To Suppliers For Goods And Services

PaymentsToSuppliersForGoodsAndServices

22000

eur

CY2020

adse

Purchase Of Goods And Services

PurchaseOfGoodsAndServices

4643000

eur

CY2020

ifrs-full

Other Expense By Function

OtherExpenseByFunction

5702000

eur

CY2020

adse

Interest Expenses

InterestExpenses

1416000

eur

CY2022Q4

ifrs-full

Amounts Payable Related Party Transactions

AmountsPayableRelatedPartyTransactions

3412000

eur

CY2021Q4

ifrs-full

Amounts Payable Related Party Transactions

AmountsPayableRelatedPartyTransactions

2963000

eur

CY2020Q4

ifrs-full

Amounts Payable Related Party Transactions

AmountsPayableRelatedPartyTransactions

2143000

eur

CY2022

adse

Management Fees

ManagementFees

0

eur

CY2021

adse

Management Fees

ManagementFees

450000

eur

CY2020

adse

Management Fees

ManagementFees

450000

eur

CY2022

ifrs-full

Transfers Of Research And Development To Entity Related Party Transactions

TransfersOfResearchAndDevelopmentToEntityRelatedPartyTransactions

1095000

eur

CY2022

ifrs-full

Interest Expense

InterestExpense

0

eur

CY2021

ifrs-full

Interest Expense

InterestExpense

338000

eur

CY2020

ifrs-full

Interest Expense

InterestExpense

261000

eur

CY2022

adse

Interest Loan Expense From Other Shareholder

InterestLoanExpenseFromOtherShareholder

0

eur

CY2021

adse

Interest Loan Expense From Other Shareholder

InterestLoanExpenseFromOtherShareholder

1625000

eur

CY2020

adse

Interest Loan Expense From Other Shareholder

InterestLoanExpenseFromOtherShareholder

1070000

eur

CY2022Q4

ifrs-full

Other Receivables

OtherReceivables

308000

eur

CY2022Q4

ifrs-full

Other Payables

OtherPayables

2372000

eur

CY2021Q4

ifrs-full

Other Receivables

OtherReceivables

2133000

eur

CY2021Q4

ifrs-full

Other Payables

OtherPayables

3005000

eur

CY2022

ifrs-full

Disclosure Of Information About Key Management Personnel Explanatory

DisclosureOfInformationAboutKeyManagementPersonnelExplanatory

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom; "> <td style="border-bottom: Black 1.5pt solid; width: 69%; font-weight: bold; text-align: left">Key management personnel</td> <td style="padding-bottom: 1.5pt; width: 1%; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; width: 30%; font-weight: bold; text-align: center">Role</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Joseph Brancato</td> <td style="text-align: left"> </td><td style="text-align: left">Director</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Wolfgang Breme</td> <td style="text-align: left"> </td><td style="text-align: left">Chief Financial Officer</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Bazmi Husain</td> <td style="text-align: left"> </td><td style="text-align: left">Director</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">K.R. Kent</td> <td style="text-align: left"> </td><td style="text-align: left">Director</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Hakan Konyar</td> <td style="text-align: left"> </td><td style="text-align: left">Chief Production Officer</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Kurt Lauk, PhD</td> <td style="text-align: left"> </td><td style="text-align: left">Director (Chairman)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Salina Love</td> <td style="text-align: left"> </td><td style="text-align: left">Director</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">John Neville</td> <td style="text-align: left"> </td><td style="text-align: left">Chief Sales Officer</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Thorsten Ochs</td> <td style="text-align: left"> </td><td style="text-align: left">Chief Technology Officer</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Sebastian Schypulla</td> <td style="text-align: left"> </td><td style="text-align: left">Chief Purchase and Logistics Officer</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Thomas Speidel</td> <td style="text-align: left"> </td><td style="text-align: left">Chief Executive Officer and Director</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Robert Vogt</td> <td style="text-align: left"> </td><td style="text-align: left">Chief Accounting Officer</td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>

CY2022

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Schedule Of Key Management Personnel Compensation Comprised Text Bock

ScheduleOfKeyManagementPersonnelCompensationComprisedTextBock

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold">kEUR</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2020</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Short-term employee benefits</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">2,532</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1,196</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">783</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">Share-based payments</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,228</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">10</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-330">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 4pt">Total</td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">4,760</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">1,206</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">783</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>

CY2022

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Shortterm Employee Benefits Expense

ShorttermEmployeeBenefitsExpense

2532000

eur

CY2021

ifrs-full

Shortterm Employee Benefits Expense

ShorttermEmployeeBenefitsExpense

1196000

eur

CY2020

ifrs-full

Shortterm Employee Benefits Expense

ShorttermEmployeeBenefitsExpense

783000

eur

CY2022

ifrs-full

Key Management Personnel Compensation Sharebased Payment

KeyManagementPersonnelCompensationSharebasedPayment

2228000

eur

CY2022

adse

Comprehensive Income Attributable To Noncontrolling Interest

ComprehensiveIncomeAttributableToNoncontrollingInterest

eur

CY2021

ifrs-full

Key Management Personnel Compensation Sharebased Payment

KeyManagementPersonnelCompensationSharebasedPayment

10000

eur

CY2022Q4

adse

Trade And Other Payable

TradeAndOtherPayable

4760000

eur

CY2021Q4

adse

Trade And Other Payable

TradeAndOtherPayable

1206000

eur

CY2020Q4

adse

Trade And Other Payable

TradeAndOtherPayable

783000

eur

CY2022

ifrs-full

Interest Income On Other Financial Assets

InterestIncomeOnOtherFinancialAssets

48784000

eur

CY2021

ifrs-full

Interest Income On Other Financial Assets

InterestIncomeOnOtherFinancialAssets

59537000

eur

CY2022

adse

Other Shortterm Financial Obligations

OtherShorttermFinancialObligations

32249000

eur

CY2021

adse

Other Shortterm Financial Obligations

OtherShorttermFinancialObligations

984000

eur

CY2022

adse

Purchase Agreements

PurchaseAgreements

85214000

eur

CY2021

adse

Purchase Agreements

PurchaseAgreements

16412000

eur

CY2022

adse

Short Term Financial Obligations

ShortTermFinancialObligations

73888000

eur

CY2021

adse

Short Term Financial Obligations

ShortTermFinancialObligations

15992000

eur

CY2021

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Longterm Contract

LongtermContract

3452000

eur

CY2020

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Longterm Contract

LongtermContract

4194000

eur

CY2022

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Explanation Of Financial Effect Of Nonadjusting Event After Reporting Period

ExplanationOfFinancialEffectOfNonadjustingEventAfterReportingPeriod

<table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">8.</td><td style="text-align: justify">Events after the reporting period</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On January 19, 2023, ADSE GM completed the foundation of ads-tec Energy Services GmbH, Nürtingen, Germany. ads-tec Energy Services GmbH is completely owned by ADSE GM and is focusing on the global service in connection with products and services in the fields of energy management, energy storage, e-mobility and renewable energies.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In addition, ADSE GM completed the foundation of ads-tec Energy Schweiz GmbH, Zurich, Switzerland on April 25, 2023. The purpose of ads-tec Energy Schweiz GmbH is to provide consulting and other services to ADSE group entities.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In March 2023, a restructuring plan related to ADSE US was executed to support future growth plans as the segment North America did not develop as expected by management.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On May 05, 2023, ADSE entered into unsecured shareholder loans with multiple shareholders amounting to a total of kUSD 12,875, thereof kUSD 7,100 due on June 30, 2024, and kUSD 5,775 due on December 22, 2023. The shareholder loans can be drawn by ADSE as required. The shareholder loans have an interest rate of 10% per annum on the unpaid and actually drawn principal. In addition, the lenders receive redeemable warrants representing the right to purchase 1,716,667 ordinary shares, par value USD 0.0001 per ordinary share, at an exercise price of USD 3.00 per ordinary share.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On May 05, 2023, the convertible loan granted to a customer by ADSE amounting to kEUR 4,520 was completely paid back to ADSE including the principal portion as well as interest accrued (also see note 4.2.4).</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">No further events occurred between December 31, 2022, and May 10, 2023, that would require adjustments to the amounts recognized in these consolidated financial statements or would need to be disclosed under this heading. </p>

CY2022

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Interest Rate Percentages

InterestRatePercentages

0.10

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CY2022Q4

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Ordinary Shares Issued

OrdinarySharesIssued

1716667

shares

CY2022Q4

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Common Stock No Par Value

CommonStockNoParValue

0.0001

CY2022

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Purchase Price Per Share

PurchasePricePerShare

3

CY2022

ifrs-full

Disclosure Of General Information About Financial Statements Explanatory

DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory

<table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 34pt">9.</td><td style="text-align: justify">Approval of the financial statements</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The financial statements were approved by the Board of Directors on May 10, 2023 and approved for publication.</p>

CY2022

dei

Entity Registrant Name

EntityRegistrantName

Ads-Tec Energy Public Ltd Co

CY2022

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Document Accounting Standard

DocumentAccountingStandard

International Financial Reporting Standards

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Share Listing Expenses

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CY2020

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Income Tax Relating To Components Of Other Comprehensive Income That Will Be Reclassified To Profit Or Loss

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Comprehensive Income Attributable To Noncontrolling Interest

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Noncontrolling Interests

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Interest Received Classified As Investing Activities

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Proceeds From Cash Election By Shareholders In Lieu Of Shares

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Repayment Of Shareholder Loans

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Proceeds From Redemption Of Equity

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Interest Paid Classified As Financing Activities

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Effect Of Exchange Rate Changes On Cash And Cash Equivalents

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Capital Reorganization

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Other Comprehensive Income

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CY2020

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Capital Increasedecrease

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Additional Paid Amount

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35000000

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Average Foreign Exchange Rate

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Spot Rate

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Spot Rate

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Spot Rate

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Other Operating Incomefrom Utilization Of Provisions

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Sales To Employees

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Warranties

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Exchange Rate Losses

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Exchange Rate Losses

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Key Management Personnel Compensation

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Finance Income From Remeasurement Of Warrant Liabilities

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Net Foreign Exchange Gain

NetForeignExchangeGain

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Net Foreign Exchange Gain

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Revenue From Interest

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Other Finance Income

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Gains Losses On Exchange Differences On Translation Recognised In Profit Or Loss

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Gains Losses On Exchange Differences On Translation Recognised In Profit Or Loss

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Current Tax Expense Income And Adjustments For Current Tax Of Prior Periods

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Current Tax Expense Income And Adjustments For Current Tax Of Prior Periods

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Recognition Of Previously Unrecognisedderecognition Of Previously Recognised Deductible Tempo

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Recognition Of Previously Unrecognisedderecognition Of Previously Recognised Deductible Tempo

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Recognition Of Previously Unrecognisedderecognition Of Previously Recognised Deductible Tempo

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Tax Benefit Arising From Previously Unrecognised Tax Loss Tax Credit Or Temporary Difference Of Prior Period Used To Reduce Current Tax Expense

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CY2021

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Nontaxable Income

NontaxableIncome

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Nontaxable Income

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Additions For Tax Purposes

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True Up On Deferred Taxes From Prior Year

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Permanent Differences

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Adjustments For Reconcile Profit Loss

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Other Asset

OtherAsset

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Warrant Liabilities

WarrantLiabilities

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Deferred Tax Relating To Items Charged Or Credited Directly To Equity

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Deferred Tax Relating To Items Charged Or Credited Directly To Equity

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Expenses Relating To Leases Of Lowvalue Assets Excluding Shortterm Leases Of Low Value Assets

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Share For Share Exchange

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Business Combination

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Business Combination

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Stock Compensations

StockCompensations

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Stock Compensations

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Treasury Shares

TreasuryShares

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Treasury Shares

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Other Equity

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Spot Price

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Spot Price

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Strike Price

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Strike Price

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Number Of Shares Outstanding

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Awards Forfeited In The Reporting Period

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Awards Exercised In The Reporting Period

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Awards Expired In The Reporting Period

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Awards Exercisable At The End Of The Reporting Period

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Awards Expired In The Reporting Period

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Awards Exercisable At The End Of The Reporting Period

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Credit Impaired Total

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Credit Impaired Total

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Foreign Currency Risk Other Comprehensive Income

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Other Incomes

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Key Management Personnel Compensation Sharebased Payment

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Amendment Flag

AmendmentFlag

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Document Fiscal Period Focus

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FY

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Entity Central Index Key

EntityCentralIndexKey

0001879248

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$ADSE
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2022 Q4 Form 20-F Financial Statement

#000121390023038592 Filed on May 11, 2023

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

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$ADSE Ads-Tec Energy Public Ltd Co Stock $adse

2022 Q4 Form 20-F Financial Statement

#000121390023038592 Filed on May 11, 2023

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$ADSE
Ads-Tec Energy Public Ltd Co Stock $adse