PADERBORN (dpa-AFX) – The energy storage provider Intilion has canceled its planned IPO for the time being. The Paderborn-based company, together with the sole owner Hoppecke Rail Systems, decided not to go public for the time being, according to a statement on Monday. Although Intilion has received positive investor feedback, from the point of view of the previous owners, an appropriate valuation cannot be achieved in the current capital market environment. The preparations for an IPO should be resumed at a later date, depending on the market environment.
Intilion was spun off from the Hoppecke group of companies in Brilon, Sauerland, in 2019 in order to bundle all lithium-ion activities under one roof. According to its own statements, the company had grown at an average annual growth rate of around 147 percent in the past three financial years. In the current financial year, which runs until the end of March 2024, sales are expected to more than double to over 70 million euros. In the medium term, sales should increase to around 250 million euros. Intilion’s energy storage systems are used by industrial customers as well as by energy suppliers and network operators./men/mne/stk