CIBOX: Cibox creates factory in France – 2022-06-02 at 19:05

Electric micromobility

Cibox creates factory in France

June 2, 2022.

Cibox, a French company listed on Euronext Paris, establishes its industrial tool in Revin on the Porcher wasteland.

The board of directors, meeting on June 2, 2022, took note of the commitments of its public partners and decided to announce the creation of its factory in Revin.

The first productions of electric bicycles are planned for early 2024. This project, worth about 20 million euros, receives technical and financial support from the State, the Grand East, from the Community of Municipalities of Ardenne Rives de Meuse and Ardennes Development . The 16,000 m2 site will house a modern, integrated and automated production tool and will create approximately 100 jobs after the first year of operation.

I. Cibox internalizes its production to accelerate its development in the French and European markets

Cibox has been positioning itself in the electric micromobility sector since 2014 and has been one of the leaders in the French electric scooter market since 2020. Its expertise is based on skills in electronics that the company has developed since its founding in 1995, allowing it to design its own products since 2018. Naturally, the company puts this expertise at the service of all electric micromobilities, including the UAE (electrically assisted bicycle) which will represent a third of its activity by 2021.

Today, in a tense socio-economic context with rising energy and transport prices, electric mobility solutions are an inexpensive means of transport that is better for the environment than the car.

The bicycle and electric scooter markets are experiencing strong and steady growth in a context of changing modes of transport on journeys of 3 to 15 kilometres. In 2021, their growth was more than 30% in volume to reach, cumulatively, a number of sales equal to that of the car market in France. The forecasts in the European market open the door to significant development opportunities. In 2020, there were already 4 million electric bicycles in a European bicycle market of 20 million units. By 2030, sales of electric bicycles will surpass mechanical bicycles, representing an annual market of more than 15 million units out of a total of 30 million. Since more than 80% of bicycle production for Europe takes place on the continent, the need for new production capacity for electric bicycles will reach 10 million units per year by 2030.

Cibox already manages most of the value chain of its products from its headquarters in Ile de France, where the company works from its design office on design, concept, technical and software development, qualification of component suppliers, as well as marketing, to after-sales service . Cibox wants to turn this industrial tool into a growth accelerator by internalizing its production.

“We are already designing and developing our products. From now on we will produce them in France to improve our competitiveness. Using automated machinery, we will produce competitive mobility products from our factory and optimize our cash flow through shorter delivery cycles. We will integrate high quality manufacturing processes, sometimes unique in France and Europe, representing up to 2/3 of an electric bicycle: battery packs, frames, paint, wheels, assembly of the final product. We will be able to enrich our offer even better thanks to shorter lead times and greater flexibility (batteries, frames, colours). Supply will be facilitated by reducing reliance on key components and reducing exposure to the vagaries of geopolitical context or transportation. Finally, we will be able to offer a service throughout the chain with a center for customers and partners: international spare parts management, 3R workshop “Repair, Reconditioning, Recycling”.

We would like to thank all government agencies that supported us in this project and enabled us to establish ourselves in this area with a strong industrial culture. †

Georges Lebre, CEO of Cibox

II. Activity and calendar

Cibox will mainly produce electric bicycles at its future industrial site in Revin, but also electric scooters, electric cargo bikes and other new mobility formats for families and professionals. They will be produced for the company’s brands (yeep.me, Scooty) as well as for other players, in particular to support innovative mobility startups. The plant will be capable of producing 150,000 units per year.

The project has been studied for several weeks by the Public Services, the Grand Est region and the municipality of Ardenne Rives de Meuse. The confirmation of the support of the Region and the Community of Municipalities will be the subject of a formal vote by the respective elected officials in June 2022.

Rehabilitation work should begin at the end of summer 2022. Cibox plans to set up its repair, reconditioning and recycling activities in the first quarter of 2023, which will create approximately twenty jobs at the site. The industrial tool should be fully operational by the first quarter of 2024.

III. Financing

The site, owned by the Community of Municipalities, will be rehabilitated with the help of the State and the Grand Est Region for an estimated total cost of EUR 16 million, subsidized at 50%. The site is made available to Cibox through a lease with an option to purchase.

The production equipment represents an investment of more than EUR 4 million and is subject to a grant from the State and the Grand Est Region in the amount of EUR 1.8 million.


Next meeting: turnover of 2

e

quarter of 2022, July 21, 2022, after trading

Find all information at: www.ciboxcorp.com

About Cibox

Founded in 1995, Cibox is a French technology company specializing in consumer electronics. Over the years, Cibox has gained extensive experience in designing technological products that meet the expectations of consumers and distributors.

Today, the offer is mainly based on a series of innovative products dedicated to electric micromobility (scooters, electric bicycles, accessories). Our job is to design, manufacture and maintain soft mobility products and services for journeys from 3 to 30 km, both personally and professionally. To promote its innovative solutions, Cibox has developed its own product brands (Scooty and yeep.me) and a business rental service (yeep.me SHARE).

Cibox also offers electronic storage and mobile telephony products and tailor-made project support solutions for large retail chains.

CIBOX realized a turnover of € 16.0 million in 2021, an increase of +11%.

The CIBOX share is listed on Euronext in Paris (CIB – FR0000054322). It only qualifies for PEA, PEA-PME and SRD long.

Contact

Investor Relations

press relations

investors@ciboxcorp.com

aborreil@aya-communication.fr / 06 76 32 27 69


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