Disclosure on individual items of the consolidated financial statements (Tables)

12 Months Ended

Dec. 31, 2022

Disclosure on Individual Items of the Consolidated Financial Statements [Abstract]

Schedule of current taxes and deferred taxes

Revenue by region
kEUR	2022		2021		2020
Germany		19,538		23,809		46,979
Switzerland		1,628		1,186		222
Ireland		1,223		1,944		-
Spain		1,071		3,371		17
Netherlands		872		491		-
Austria		-		750		4
United States of America		731		-		29
Other European countries		1,367		1,482		118
Total		26,430		33,035		47,370

Schedule of revenue from contracts with customers disaggregrated by major products

Major products
kEUR	2022		2021		2020
Charging		19,506		23,721		40,514
Commercial and industrial		4,463		6,334		5,472
Service		1,774		2,235		1,231
Residential		287		479		153
Other		400		267		-
Total		26,430		33,035		47,370

Schedule of information on contract assets and contract liabilities from contracts with customers

kEUR	Dec. 31, 2022		Dec. 31, 2021
Receivables, which are included in 'Trade and other receivables'		13,897		7,424
Contract assets		6		973
Contract liabilities		23,721		6,340

Schedule of other investments

kEUR	Dec. 31, 2022		Dec. 31, 2021
Contract liabilities		23,721		6,340
Revenue recognized that was included in the contract liability balance at the beginning of the period		465		2,616
Increases due to cash received, excluding amounts recognized at the beginning of the period		17,846		224

Schedule of cost of goods sold

kEUR	2022		2021		2020
Cost of materials		23,554		26,433		38,100
Personnel expenses		3,388		3,097		2,819
Depreciation and amortization		3,517		3,103		1,515
Other expenses		445		2,677		3,114
Total		30,904		35,310		45,548

Schedule of selling general and administrative expenses

kEUR	2022		2021		2020
Legal and consulting fees		3,779		4,450		767
Personnel expenses		14,359		3,911		2,927
Administration fee		3,412		2,963		2,474
Marketing costs		1,925		476		133
Depreciation and amortization		631		227		44
Insurance expenses		2,365		26		27
Other expenses		4,847		1,268		1,198
Total		31,319		13,321		7,570

Schedule of other operating income

kEUR	2022		2021		2020
Income from subsequent payments		408		75		44
Income from utilization of provisions		-		-		58
Income from reversal of provisions		913		1,517		233
Cost refunds		-		174		119
Income from compensation		1,016		2,537		61
Income from reduction of credit loss		-		-		17
Other		47		233		8
Total		2,383		4,538		541

Schedule of other operating expense

kEUR	2022		2021		2020
Warranties		-		5,253		1,976
Expenses from disposal of assets		1		36		70
Expenses due to subsequent events		11		5		27
Exchange rate losses		1,007		-		-
Other expenses		64		66		46
Compensation		-		42		105
Total		1,084		5,402		2,224

Schedule of finance income and finance costs recognized in profit or loss

kEUR	2022		2021		2020
Finance income from remeasurement of warrant liabilities		10,329		-		-
Foreign currency gains		9,928		-		-
Income from other interest and similar income		259		47		-
Finance income		20,515		47		-
Interest expense from bank loans		-17		-296		-1,621
Foreign exchange losses		-		-264		-
Interest expense from related party loans		-2		-1,995		-261
Interest expense from leasing		-122		-89		-78
Interest expense from guarantee commissions		-246		-177		-37
Other interest expense		-40		-13		-137
Finance expenses		-427		-2,835		-2,135
Share listing expense		-		-65,796		-
Net finance result		20,089		-68,583		-2,135

Schedule of applying the aforementioned parameters the share listing expense

kEUR
Fair value of 8,524,565 ordinary shares (including 3,593,750 founder shares) at €8.64 per share	73,697
Fair value of 4,375,000 private warrants at EUR 1.17 per warrant	5,110
Fair value of 7,187,500 public warrants at EUR 1.05 per warrant	7,568
Net liability of EUSG at business combination	423
Total value of consideration	86,799
Proceeds received post business combination EUSG assets (cash)	-43,107
Listing expenses total (cash)	22,105
Total share listing expense	65,796

Schedule of current and deferred taxes

kEUR	2022		2021		2020
Current year		-190		-		-
Changes in estimates related to prior years		-		-		-
Current tax expense		-190		-		-
Origination and reversal of temporary differences		-3,453		-1,033		112
Recognition of previously unrecognized (derecognition of previously recognized) tax losses		1,071		620		-67
Recognition of previously unrecognized (derecognition of previously recognized) deductible temporary differences		-		-		-
Deferred tax (expense) income		-2,382		-413		45
Total		-2,572		-413		45

Schedule of reconciliation of the effective tax rate

kEUR	2022		2021		2020
Profit (loss) before tax		-16,335		-87,227		-10,325
Tax using the Company's domestic tax rate		4,815		25,710		3,043
Tax effect of:		-		-		-
Difference in tax rates		-525		-10,516		-
Non-deductible expenses		-130		-582		-30
Non-taxable income		344		-		-
Additions for tax purposes		-84		-		-
Non-recognition of deferred taxes on losses		-6,738		-7,319		-2,968
True up on deferred taxes from prior year		527		-		-
Permanent differences		-795		-7,736		-
Others		14		30		-
Taxes on income		-2,572		-413		45

Schedule of deferred tax assets recognized for tax loss carryforwards

kEUR	Dec. 31, 2022		Dec. 31, 2021		Dec. 31, 2020
Tax loss carryforwards		82,796		55,352		32,936

Schedule of deferred tax balances developed

kEUR	DTA		DTL		Dec. 31, 2022		DTA		DTL		Dec. 31, 2021
Intangible assets		-		5,994		-5,994		-		4,536		-4,536
Right-of-use assets		-		955		-955		-		586		-586
Inventories		663		2,674		-2,011		-		1,199		-1,199
Contract assets		-		47		-47		-		287		-287
Trade and other receivables		514		876		-362		-		72		-72
Other assets		-		150		-150		-		-		-
Lease liabilities		988		-		988		609		-		609
Trade and other payables		-		408		-408		-		303		-303
Contract liabilities		3,627		-		3,627		1,807		-		1,807
Other provisions		61		267		-206		-		80		-80
Warrant liabilities		-		2,582		-2,582		-		-		-
Tax loss carryforwards		3,859		-		3,859		2,788		-		2,788
Netting		-9,712		-9,712		-		-5,204		-5,204		-
Total		-		4,241		-4,241		-		1,859		-1,859

Schedule of earnings per share

Earnings per share	2022		2021		2020
Profit/loss for the period (attributable to shareholders of the parent) (kEUR)		-18,906		-87,640		-10,280
Weighted average number of ordinary shares outstanding (in k units) (basic)		48,809		25,344		32
Weighted average number of ordinary shares outstanding (in k units) (diluted)		49,005		25,344		32
Basic loss per share (€)		-0.39		-3.46		-320.86
Diluted loss per share (€)		-0.39		-3.46		-320.86

Schedule of development of intangible assets

kEUR	Internally generated assets		Software		Total
Cost
As of Jan. 01, 2021		15,896		237		16,133
Additions		3,904		105		4,009
Disposals		-		-		-
As of Dec. 31, 2021		19,801		342		20,142
Additions		7,406		180		7,586
Disposals		-		-6		-6
As of Dec. 31, 2022		27,207		516		27,722

kEUR	Internally generated assets		Software		Total
Amortization
As of Jan. 01, 2021		-647		-150		-797
Additions		-2,250		-58		-2,308
As of Dec. 31, 2021		-2,897		-208		-3,104
Additions		-2,458		-107		-2,565
Disposals		-		6		6
As of Dec. 31, 2022		-5,355		-309		-5,664

kEUR	Internally generated assets		Software		Total
Carrying amounts
As of Jan. 01, 2021		15,249		88		15,337
As of Dec. 31, 2021		16,904		134		17,038
As of Dec. 31, 2022		21,852		207		22,059

Schedule of development of right of use assets

kEUR	Property		Vehicles		Total
Right-of-use assets
As of Jan. 01, 2021		2,346		158		2,503
Depreciation charge for the year		501		93		595
Additions to right-of-use assets		-		79		79
As of Dec. 31, 2021		1,844		143		1,988
Depreciation charge for the year		622		116		739
Additions to right-of-use assets		1,912		205		2,117
As of Dec. 31, 2022		3,134		232		3,366

Schedule of recognized amount

kEUR	2022		2021		2020
Amounts recognized in profit or loss
Interest on lease liabilities		122		89		78
Expenses relating to short-term leases		50		2		10
Expenses relating to leases of low-value assets, excluding short-term leases of low value assets		13		7		-
Amounts recognized in the statement of cash flows
Total cash outflow of leases		828		569		454

Schedule of development of fixed assets

kEUR	Property, plant and equipment		Construction in progress		Total
Cost
As of Jan. 01, 2021		3,237		92		3,329
Additions		1,494		82		1,576
Disposals		-95		-		-95
Reclassification		92		-92		-
As of Dec. 31, 2021		4,728		82		4,810
Additions		2,945		539		3,484
Disposals		-136		-		-136
Reclassification		94		-94		-
As of Dec. 31, 2022		7,631		527		8,158

kEUR	Property, plant and equipment		Construction in progress		Total
Depreciation
As of Jan. 01, 2021		-1,310		-		-1,310
Depreciation		-582		-		-582
Disposals		40		-		40
As of Dec. 31, 2021		-1,852		-		-1,852
Depreciation		-1,032		-		-1,032
Disposals		116		-		116
As of Dec. 31, 2022		-2,768		-		-2,768

kEUR	Property, plant and equipment		Construction in progress		Total
Carrying amounts
As of Jan. 01, 2021		1,927		92		2,019
As of Dec. 31, 2021		2,876		82		2,958
As of Dec. 31, 2022		4,863		527		5,389

Schedule of other investments and other assets

kEUR	Dec. 31, 2022		Dec. 31, 2021
Other investments		3,199		1,944
Other assets		174		140
Total		3,373		2,084

Schedule of inventories can be broken down

kEUR	Dec. 31, 2022		Dec. 31, 2021
Finished goods		16,804		5,074
Trading goods		1,474		257
Work in progress		3,912		2,117
Raw materials		36,766		11,511
Total		58,956		18,959

kEUR	Dec. 31, 2022		Dec. 31, 2021
Write-downs finished goods		-206		-104
Write-downs work in progress		-502		-474
Write-downs raw materials		-5,111		-5,319
Total		-5,819		-5,896

Schedule of trade and other receivables

kEUR	Dec. 31, 2022		Dec. 31, 2021
Trade receivables		13,897		7,424
Other receivables financial		925		141
Other receivables non-financial		2,169		2,825
Deferred expenses and accrued income		678		917
Total		17,670		11,308

Schedule of cash and cash equivalents

kEUR	Dec. 31, 2022		Dec. 31, 2021
Cash		1		1
Cash at banks		34,440		101,812
Total		34,441		101,813

Schedule of development shares outstanding

in k units	2022		2021		2020
In issue as of Jan. 01		48,808		32		32
Share for share exchange		-		24,651		-
Business combination		-		24,125		-
Stock compensation		69		-		-
Outstanding as of Dec. 31		48,877		48,808		32
Treasury shares		28		-		-
In issue and outstanding as of Dec. 31		48,905		48,808		32

Schedule of other reserves consist of accumulated earnings

kEUR	Dec. 31, 2022		Dec. 31, 2021		Dec. 31, 2020
Share capital		4		4		32
Capital reserves		216,815		214,100		20,950
Other equity		45		-2		-
Retained earnings		-117,211		-29,570		-19,291
Profit/Loss		-18,906		-87,640		-10,280
Equity attributable to shareholders of ADSE		80,747		96,892		-8,589
Total		80,747		96,892		-8,589

Schedule of market prices for private warrants

Input	Dec. 31, 2022			Dec. 31, 2021			Reference
Spot price		USD 3.12			USD 9.13			1
Strike price		USD 11.50			USD 11.50			2
Expected term (years)		3.98			4.98			3
Risk free rate		4.11	%		1.26	%		4
Dividend yield		0.00	%		0.00	%		5
Annual volatility		46.94	%		23.40	%		6

Schedule of trade and other payables

kEUR	Dec. 31, 2022		Dec. 31, 2021
Trade payables		10,012		6,643
Trade payables due to related parties		1,821		2,980
Accrued expenses		1,898		1,194
Other payables financial		153		476
Other payables non-financial		1,967		2,865
Total		15,852		14,159

Schedule of development of provisions

kEUR	Warranties		Onerous contracts		Archiving costs		Miscellaneous provisions		Total
As of Jan. 01, 2021	3,143		20		14		331		3,508
Added		7,717		0		4		633		8,354
Utilized		705		9		3		36		752
Reversal		1,490		0		-		-		1,490
As of Dec. 31, 2021		8,664		11		16		929		9,620
Date of maturity
Current		1,673		11		16		482		2,182
Non-current		6,991		-		-		447		7,438
Total		8,664		11		16		929		9,620

kEUR	Warranties		Onerous contracts		Archiving costs		Miscellaneous provisions		Total
As of Jan. 01, 2022		8,664		11		16		929		9,620
Added		1,571		-		0		158		1,729
Utilized		-1,523		-		-		-534		-2,057
Reversal		-469		-		-		-47		-517
As of Dec. 31, 2022		8,244		11		16		505		8,775
Date of maturity
Current		2,030		11		16		-		2,056
Non-current		6,214		-		-		505		6,719
Total		8,244		11		16		505		8,775

Schedule of provides the carrying amounts and fair values

kEUR		Fair Value Hierarchy		Book value Dec. 31, 2022		Fair Value Dec. 31, 2022		Book value Dec. 31, 2021		Fair Value Dec. 31, 2021
Assets
Cash and cash equivalents	At amortized cost		3		34,441		34,441		101,813		101,813
Trade receivables (short term)	At amortized cost		3		13,897		13,897		7,424		7,424
Other investments	At amortized cost		3		3,199		3,199		1,944		1,944
Other financial receivables (short term)	At amortized cost		3		921		921		141		141
Other financial receivables (long term)	At amortized cost		3		4		4		4		4
Total					52,462		52,462		111,326		111,326
Liabilities
Warrant liabilities - private	Fair value through P&L		2		1,091		1,091		5,215		5,215
Warrant liabilities - public	Fair value through P&L		1		1,348		1,348		7,552		7,552
Loans and borrowings (short term)	At amortized cost		3		-		-		7,522		7,522
Trade payables (short term)	At amortized cost		3		10,012		10,012		6,265		6,265
Trade payables due to related parties (short term)	At amortized cost		3		1,821		1,821		2,980		2,980
Lease liabilities (long term)	At amortized cost		3		2,635		-		1,537		-
Lease liabilities (short term)	At amortized cost		3		842		-		528		-
Other payables financial (short term)	At amortized cost		3		153		153		476		476
Total					17,902		14,425		32,076		30,010

Schedule of grants under share based payment

Program	RSUs
Number of awards		187,500
Maximum term (years)		4
Awards outstanding at the beginning of the reporting period (January 01, 2021)		-
Awards granted in the reporting period		187,500
Awards forfeited in the reporting period		-
Awards exercised in the reporting period		-
Awards expired in the reporting period		-
Awards outstanding at the end of the reporting period (December 31, 2021)		187,500
Awards exercisable at the end of the reporting period (December 31, 2021)		-

Program	RSUs
Number of awards		342,850
Maximum term (years)		4
Awards outstanding at the beginning of the reporting period (January 01, 2022)		187,500
Awards granted in the reporting period		155,350
Awards forfeited in the reporting period		-50,000
Awards exercised in the reporting period		-96,873
Awards expired in the reporting period		-
Awards outstanding at the end of the reporting period (December 31, 2022)		195,977
Awards exercisable at the end of the reporting period (December 31, 2022)		-

Program	NQSO
Number of awards		1,457,375
Maximum term (years)		4
Awards outstanding at the beginning of the reporting period (January 01, 2022)		-
Awards granted in the reporting period		1,457,375
Awards forfeited in the reporting period		-135,792
Awards exercised in the reporting period		-
Awards expired in the reporting period		-
Awards outstanding at the end of the reporting period (December 31, 2022)		1,321,583
Awards exercisable at the end of the reporting period (December 31, 2022)		77,100

Schedule of measurement of fair values

Measurement of fair values	4 years			3 years			2 years			1 year
Fair value at grant date in USD		5.02			4.52			3.87			2.26
Share price at grant date in USD		8.62			8.62			8.62			8.62
Exercise price in USD		8.62			8.62			8.62			8.62
Expected volatility in %		78.46	%		80.26	%		82.57	%		65.97	%
Expected life in years		4.00			3.00			2.00			1.00
Expected dividends in %		0.00			0.00			0.00			0.00

Measurement of fair values	3,7 years			2,7 years			1,7 years			0,7 years
Fair value at grant date in USD		3.91			3.44			2.67			1.63
Share price at grant date in USD		6.72			6.72			6.72			6.72
Exercise price in USD		6.72			6.72			6.72			6.72
Expected volatility in %		79.73	%		80.53	%		76.83	%		71.97	%
Expected life in years		3.70			2.70			1.70			0.70
Expected dividends in %		0.00			0.00			0.00			0.00

Measurement of fair values	3,34 years			2,34 years			1,34 years			0,33 years
Fair value at grant date in USD		2.99			2.60			1.73			0.80
Share price at grant date in USD		5.25			5.25			5.25			5.25
Exercise price in USD		5.25			5.25			5.25			5.25
Expected volatility in %		80.80	%		82.10	%		69.24	%		64.72	%
Expected life in years		3.34			2.34			1.34			0.33
Expected dividends in %		0.00			0.00			0.00			0.00

Measurement of fair values	3,18 years			2,18 years			1,18 years			0.18 years
Fair value at grant date in USD		1.84			1.48			1.00			0.35
Share price at grant date in USD		3.21			3.21			3.21			3.21
Exercise price in USD		3.21			3.21			3.21			3.21
Expected volatility in %		83.34	%		77.63	%		68.58	%		62.02	%
Expected life in years		3.18			2.18			1.18			0.18
Expected dividends in %		0.00			0.00			0.00			0.00

Schedule of trade receivables and contract assets

kEUR	Dec. 31, 2022		Dec. 31, 2021
Trade receivables and contract assets arising from contracts with customers and other investments		19,847		13,782
thereof trade receivables		16,557		10,865
thereof contract assets		6		973
thereof other investments		3,284		1,944
Impairment loss on trade receivables and contract assets arising from contracts with customers and other investments		-256		-163
Total		19,591		13,619

Schedule of trade receivables and contract assets debtors due to payment

kEUR	Weighted- average loss rate			Gross carrying amount		Loss allowance		Credit- impaired
Dec. 31, 2022
Current (not past due)		0.00	%		13,224		-		-
1-30 days past due		0.00	%		2,760		-		-
31-60 days past due		0.00	%		185		-		-
61-90 days past due		0.00	%		1		-		-
More than 90 days past due		15.28	%		386		-59		-
Total					16,557		-59		-

kEUR	Weighted- average loss rate			Gross carrying amount		Loss allowance		Credit- impaired
Dec. 31, 2021
Current (not past due)		0.00	%		8,902		-		-
1-30 days past due		0.00	%		1,800		-		-
31-60 days past due		0.00	%		51		-		-
61-90 days past due		0.00	%		-		-		-
More than 90 days past due		51.79	%		112		-58		-
Total					10,865		-58		-

Schedule of remaining contractual maturities of ADSE’s financial liabilities

kEUR	Total		Less than 1 year		1-5 years		More than 5 years
Balance as of Dec. 31, 2022
Secured bank loans		-		-		-		-
Lease liabilities		4,887		842		3,740		305
Trade payables		10,012		10,012		-		-
Trade payables due to related parties		1,821		1,821		-		-
Other payables		4,019		3,869		-		150
Total		20,740		16,544		3,740		455

kEUR	Total		Less than 1 year		1-5 years		More than 5 years
Balance as of Dec. 31, 2021
Secured bank loans		7,522		-		7,522		-
Lease liabilities		2,269		599		1,346		324
Trade payables		6,643		6,643		-		-
Trade payables due to related parties		2,980		2,980		-		-
Other payables		4,535		4,391		-		144
Total		23,950		14,613		8,869		468

Schedule of appreciated or depreciated

kEUR	Variance		Dec. 31, 2022	OCI	Variance		Dec. 31, 2021
Dec. 31, 2022
EUR/USD	+/-10.0	%	-917/+1,121	-	+/-10.0	%	-9,200/+41,800