Voltabox AG announced sales results for the year 2017. For the period the company reported group sales of over EUR 27 million compared to EUR 14.5 million a year ago. Of the over EUR 27 million in revenues, around EUR 2 million are attributable to revenues with the parent company paragon AG.

The company provided earnings guidance for the year 2017. For the period the company expects a further leap in revenue of around 120% to approximately EUR 60 million in the current fiscal year. In addition, company is targeting an EBIT margin of about 10%. The increasingly automated mass production of battery modules for use in forklifts and automated guided vehicles was a decisive factor in the 90% jump in growth. The management Board is reaffirming its previous revenue target of approximately EUR 100 million for the fiscal year 2019.