SCHMID Group N.V. Class A Ordinary Shares (SHMD) 20-F 15 May 24 2023 FY Annual report (foreign) Financial data

Document and Entity Information

Document and Entity Information - shares	12 Months Ended
	Dec. 31, 2023	Apr. 30, 2024
Document Type	20-F
Document Registration Statement	false
Document Annual Report	true
Document Transition Report	false
Document Shell Company Report	false
Document Period End Date	Dec. 31, 2023
Entity File Number	001-42040
Entity Registrant Name	SCHMID Group N.V.
Entity Incorporation, State or Country Code	P7
Entity Address, Address Line One	Robert-Bosch-Str. 32-36
Entity Address, City or Town	Freudenstadt
Entity Address, Country	DE
Entity Address, Postal Zip Code	72250
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	true
ICFR Auditor Attestation Flag	false
Document Financial Statement Error Correction [Flag]	false
Document Accounting Standard	International Financial Reporting Standards
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		42,974,862
Entity Central Index Key	0001987240
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Amendment Flag	false
Auditor Name	KPMG AG
Auditor Location	Munich, Germany
Auditor Firm ID	1021
Business Contact
Contact Personnel Name	Julia Natterer
Contact Personnel Email Address	natterer.ju@schmid-group.com
Entity Address, Address Line One	Robert-Bosch-Str. 32-36
Entity Address, City or Town	Freudenstadt
Entity Address, Country	DE
Entity Address, Postal Zip Code	72250
City Area Code	+49
Local Phone Number	7441 538 0
Class A Ordinary Shares, par value €0.01 per share
Title of 12(b) Security	Class A Ordinary Shares, par value €0.01 per share
Trading Symbol	SHMD
Security Exchange Name	NASDAQ
Redeemable Warrants, each exercisable for one Class A Ordinary Share at an exercise price of $11.50 per share
Title of 12(b) Security	Redeemable Warrants, eachexercisable for one Class A OrdinaryShare at an exercise price of $11.50per share
Trading Symbol	SHMD.WS
Security Exchange Name	NASDAQ

Combined Statements of Profit o

Combined Statements of Profit or Loss and Other Comprehensive Income (Loss) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Combined Statements of Profit or Loss and Other Comprehensive Income (Loss)
Revenue	€ 90,246	€ 95,058	€ 39,481
Cost of sales	(63,849)	(61,721)	(30,506)
Gross profit	26,397	33,337	8,975
Selling	(12,577)	(11,369)	(7,851)
General administration	(12,538)	(6,973)	(6,298)
Research and development	(5,148)	(4,818)	(2,733)
Other income	15,985	3,375	1,924
Other expenses	(2,620)	(2,988)	(4,779)
(Impairment) / Reversal on impairment on financial assets	22,696	3,091	3,333
Operating profit (loss)	32,195	13,654	(7,427)
Finance income	19,685	5,758	3,360
Finance expenses	(10,091)	(17,746)	(18,014)
Financial result	9,594	(11,988)	(14,654)
Share of profit (loss) in joint ventures	(1,057)
Income (loss) before income tax	40,732	1,667	(22,082)
Income tax benefit (expense)	(2,778)	1,924	(5,195)
Net income (loss) for the period	37,954	3,591	(27,277)
Other comprehensive income (loss) that may be reclassified to profit or loss	(1,625)	(503)	130
Exchange differences on translation of foreign business units	(1,625)	(503)	130
Items that will not be subsequently reclassified to profit or loss	18	213	20
Remeasurement of defined pension benefit obligation	25	300	28
Income tax on remeasurement of defined pension benefit obligation	(7)	(88)	(8)
Other comprehensive income (loss)	(1,607)	(290)	150
Total combined comprehensive income (loss) for the reporting period	36,346	3,301	(27,127)
Net income (loss) attributable to
Owners of SCHMID	36,868	1,550	(24,452)
Non-controlling interests	1,086	2,041	(2,825)
Total combined comprehensive income (loss) attributable to
Owners of SCHMID	35,669	1,456	(24,597)
Non-controlling interests	€ 677	€ 1,845	€ (2,530)

Combined Statements of Financia

Combined Statements of Financial Position - EUR (€) € in Thousands	Dec. 31, 2023	Dec. 31, 2022
ASSETS
Intangible assets	€ 14,966	€ 15,828
Property, plant and equipment including right-of-use	14,767	14,695
Financial assets	140	115
Deferred tax assets	2,543	2,594
Non-current assets	32,416	33,232
Inventories	16,353	25,029
Trade receivables and other receivables	47,032	108,838
Other current assets	5,073	4,815
Cash and cash equivalents	5,710	8,332
Current assets	74,166	147,014
Total assets	106,582	180,247
EQUITY AND LIABILITIES
Owner's net investment	70,606	70,479
Other reserves	(95,806)	(131,474)
Equity attributable to owners of SCHMID	(25,198)	(60,996)
Non-controlling interest	7,358	6,681
Equity	(17,841)	(54,315)
Non-current financial liabilities	22,190	34,406
Provisions for pensions	894	887
Non-current provisions	237	330
Deferred tax liabilities	4,388	2,504
Non-current lease liability	9,371	841
Non-current liabilities	37,081	38,968
Current financial liabilities	26,053	128,454
Current contract liabilities	17,931	30,569
Trade payables and other liabilities	25,899	25,400
Other current liabilities	13,113	8,706
Current lease liability	1,515	491
Current provisions	973	360
Income tax liabilities	1,858	1,615
Current liabilities	87,343	195,594
Total equity and liabilities	€ 106,582	€ 180,247

Combined Statements of Changes

Combined Statements of Changes in Equity - EUR (€) € in Thousands	Equity attributable to owners of SCHMID	Owner's net investment	Accumulated loss	Accumulated other comprehensive income (loss)	Non-controlling interest	Total
Beginning balance at Dec. 31, 2020	€ (75,129)	€ 33,204	€ (108,333)		€ (287)	€ (75,417)
Income (loss) for the period	(24,452)		(24,452)		(2,825)	(27,277)
Other comprehensive income (loss)	(145)			€ (145)	295	150
Total comprehensive income (loss)	(24,597)		(24,452)	(145)	(2,530)	(27,127)
Capital increase minority shareholder	22,776	22,776			7,653	30,429
Transactions with shareholder	13,100	13,100				13,100
Ending balance at Dec. 31, 2021	(63,851)	69,080	(132,785)	(145)	4,836	(59,015)
Income (loss) for the period	1,550		1,550		2,041	3,591
Other comprehensive income (loss)	(94)			(94)	(196)	(290)
Total comprehensive income (loss)	1,456		1,550	(94)	1,845	3,301
Transactions with shareholder	1,974	1,974				1,974
Ending balance at Dec. 31, 2022	(60,996)	70,479	(131,235)	(239)	6,681	(54,315)
Income (loss) for the period	36,868		36,868		1,086	37,954
Other comprehensive income (loss)	(1,199)			(1,199)	(409)	(1,607)
Total comprehensive income (loss)	35,669		36,868	(1,199)	677	36,346
Transactions with shareholder	128	128				128
Ending balance at Dec. 31, 2023	€ (25,198)	€ 70,606	€ (94,367)	€ (1,438)	€ 7,358	€ (17,841)

Combined Statements of Cash Flo

Combined Statements of Cash Flows - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Combined Statements of Cash Flows
Net income (loss) from continued operations	€ 37,954	€ 3,591	€ (27,277)
Adjustments to reconcile condensed net profit (loss) to net cash
Income tax expense (benefit)	2,778	(1,924)	5,195
Financial result	(8,537)	11,988	14,654
Depreciation and amortization	6,904	6,283	4,893
Net losses from the disposal of intangibles and PP&E	(602)	228	785
Reversal of impairments of financial assets, net	(22,696)	(3,091)	(3,333)
Other non-cash expenses	182	370	(2,541)
Working capital adjustments:
Changes in trade and other receivables	(6,729)	(16,610)	7,698
Changes in inventories	8,244	(5,821)	(6,678)
Change in working capital liabilities	(6,823)	5,674	(3,706)
Change in provisions	382	(408)	23
Taxes paid	(1,161)
Cash provided by (used in) operating activities	9,897	280	(10,285)
Purchases of intangible assets and property, plant and equipment	(6,907)	(4,616)	(5,040)
Receipts from sale and leasback transaction	8,926
Investments in financial assets			(89)
Payment for loan to shareholder		(2,552)	(2,408)
Repayment of loan to shareholder	70,000
Cash used in investing activities	72,019	(7,168)	(7,537)
Proceeds from debt financing		4,895
Proceeds from debt financing		4,100	55
Payments for debt financing	(81,871)	(5,880)	(1,911)
Proceeds from equity contributions by minority shareholders			30,429
Proceeds from shareholder loans		795	2,782
Payment of lease liabilities	(819)	(609)	(451)
Interest paid	(1,941)	(1,708)	(799)
Transaction with shareholder			5,298
Decrease in restricted cash	917	137	270
Cash (used in) provided by financing activities	(83,714)	(3,165)	35,674
Net increase (decrease) in cash and cash equivalents	(1,798)	(10,053)	17,852
Effect of foreign exchange rate changes on cash and cash equivalents	(824)
Cash and cash equivalents at the beginning of the period	8,332	18,384	533
Cash and cash equivalents at the end of the period	€ 5,710	€ 8,332	€ 18,384

BUSINESS DESCRIPTION

BUSINESS DESCRIPTION	12 Months Ended
	Dec. 31, 2023
BUSINESS DESCRIPTION
BUSINESS DESCRIPTION	1. Gebr. SCHMID GmbH (“the Company” or “SCHMID”) is a global supplier of equipment and services for various industries such as printed circuit boards (“PCB”), substrate manufacturing, photovoltaics, and glass and energy storage with a focus on the highest end of this market in terms of technology and developing performance including automation, wet processes (horizontal, vertical and single panel) and vacuum processes. This includes production techniques and building machines as well as extensive work with customers on development projects. SCHMID is also providing customer service through which customers are assisted with upgrades, spare parts, logistics, customer training in multiple languages, on-site management, maintenance contracts and project management. SCHMID located in Freudenstadt, Germany, was founded in 1864. SCHMID employs over 700 employees worldwide. Manufacturing sites are located in Germany and China. SCHMID products are distributed worldwide by the SCHMID companies directly and by external trading partners. The customers of SCHMID include well-known companies from the hardware and software sector, the electronics industry and the solar and photovoltaic industry, which are located worldwide. Research and development is a crucial factor for SCHMID’s business success. The majority of research work and the development of SCHMID technologies are conducted in Freundenstadt. On May 31, 2023, Pegasus Digital Mobility Acquisition Corp., a Cayman Islands exempted company (“Pegasus”), entered into a Business Combination Agreement (the “Business Combination Agreement”), by and among Pegasus ,Gebr. SCHMID GmbH, Pegasus Topco B.V., a Dutch private limited liability company and wholly-owned entity of Pegasus (“TopCo”) and Pegasus MergerSub Corp., a Cayman Islands exempted company and wholly-owned entity of TopCo (“Merger Sub”). On April 30, 2024 TopCo was converted into a Dutch public limited liability company and renamed SCHMID Group N.V. concurrent with the closing of the Business Combination. The Company is presenting combined financial statements including Gebr. SCHMID GmbH and certain entities subject to the Business Combination Agreement. Historically, the reporting entity including the legal entities, which are disclosed in note 2. Basis of Presentation, has not prepared consolidated financial information. All such entities were under common control of Gebr. SCHMID GmbH for all periods presented, except for two joint ventures which are accounted for using the equity method. As described in footnote 35. Related Party Disclosures, Gebr. Schmid GmbH is jointly controlled by Christian Schmid and Anette Schmid.

BASIS OF PREPARATION

BASIS OF PREPARATION	12 Months Ended
	Dec. 31, 2023
BASIS OF PREPARATION
BASIS OF PREPARATION	2. The financial statements as of and for the years ended December 31, 2023 and 2022 have been prepared on a combined basis. These combined financial statements have been prepared on a going concern basis in conformity with International Financial Reporting Standards (“IFRS”), as issued by the International Accounting Standards Board (“IASB”). The basis of preparation and presentation is aimed at providing users with the most relevant and useful financial information about the reporting entity and by considering the objectives of financial reporting as defined and contemplated by the IASB’s Conceptual Framework and IAS 1, Financial Statements Presentation. The legal entities which comprise the combined financial statements and its certain investments in joint ventures accounted for using the equity method are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Country of ​ Ownership Interest ​ Name incorporation 12/31/2023 12/31/2022 Gebr. Schmid GmbH Germany 100 % 100 % SCHMID Systems, Inc. USA 100 % 100 % SCHMID Singapore Pte. Ltd. Singapore 90 % 90 % SCHMID Korea Co., Ltd South Korea 100 % 100 % SCHMID Asia Ltd. Hong Kong 100 % 100 % SCHMID Technology Guangdong Co., Ltd. China 76 % 76 % SCHMID China Ltd. Hong Kong 100 % 100 % SCHMID Shenzhen Ltd. China 100 % 100 % SCHMID (Kunshan) Co., Ltd. China 100 % 100 % SCHMID Taiwan Ltd. Taiwan 86 % 86 % SCHMID Automation (Zhuhai) Co., Ltd. China 100 % 100 % SCHMID Solar (Shenzhen) Ltd. China 100 % 100 % SCHMID Trading (Zhongshan) Co. Ltd. China 100 % — % Joint ventures ​ Advanced Energy Storage Systems Investment Company Saudi Arabia 51 % 51 % SCHMID Avaco Korea, Co. Ltd. South Korea 50 % 50 % ​ SCHMID presents its combined financial statements in Euros which is the Company’s presentation currency. All amounts are presented in thousands of Euros (“€ thousand”), unless otherwise stated. Due to rounding, numbers presented may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures. The combined financial statements of SCHMID were authorized for issuance by the management board on May 15, 2024. Intra-reporting entity transactions and balances Intra-SCHMID balances and transactions, and any unrealized income and expenses (except for foreign currency transaction gains or losses) arising from intra-SCHMID transactions, are eliminated. Unrealized gains arising from transactions with equity-accounted investees are eliminated against the investment to the extent of SCHMID’s interest in the investee. Unrealized losses are eliminated in the same way as unrealized gains, but only to the extent that there is no evidence of impairment. The legal entities comprising the reporting entity historically have been recognizing overhead costs in their books and records. There have not been any other corporate functions outside of these group of legal entities providing central services. As such no additional allocations of expenses were necessary during the preparation of these combined financial statements. Foreign Currency The combined financial statements are presented in Euro. The Company’s foreign entities identified that the local currency is their functional currency and therefore the financial statements of these entities are translated to Euro using year-end exchange rates for assets and liabilities, and average exchange rates for income and expenses. Adjustments resulting from translating foreign functional currency financial statements into Euro are recorded as a separate component in the combined statements of comprehensive income. Monetary assets and liabilities that are denominated in currencies other than the respective functional currencies are remeasured at the foreign currency rates as of the reporting date. Foreign currency transaction gains and losses from the remeasurement are included in other income and other expenses, as appropriate, in the combined statements of profit and loss for the period.

MATERIAL ACCOUNTING POLICIES

MATERIAL ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2023
MATERIAL ACCOUNTING POLICIES
MATERIAL ACCOUNTING POLICIES	3. Business combination The acquisition method of accounting is used to account for all business combinations, regardless of whether equity instruments or other assets are acquired. The consideration transferred for the acquisition of a subsidiary comprises the: ● fair values of the assets transferred ● liabilities incurred to the former owners of the acquired business ● equity interests issued by the group, and ● fair value of any asset or liability resulting from a contingent consideration arrangement, Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are, with limited exceptions, measured initially at their fair values at the acquisition date. The Company recognises any non-controlling interest in the acquired entity on an acquisition-by-acquisition basis either at fair value or at the non-controlling interest’s proportionate share of the acquired entity’s net identifiable assets. Acquisition-related costs are expensed as incurred. The excess of the: ● consideration transferred ● amount of any non-controlling interest in the acquired entity, and ● acquisition-date fair value of any previous equity interest in the acquired entity over the fair value of the net identifiable assets acquired is recorded as goodwill. If those amounts are less than the fair value of the net identifiable assets of the business acquired, the difference is recognised directly in profit or loss as a bargain purchase. If the business combination is achieved in stages, the acquisition date carrying value of the acquirer’s previously held equity interest in the acquiree is remeasured to fair value at the acquisition date. Any gains or losses arising from such remeasurement are recognised in profit or loss. Intangible assets General Intangible assets are measured at cost upon initial recognition. In subsequent periods, intangible assets are recognized at cost less any accumulated amortization and impairment losses. Intangible assets with finite useful lives are amortized on a straight-line basis. The estimated (remaining) useful lives as well as the amortization method are subject to annual reviews. If necessary, adjustments due to changes of the expected useful life or of the amortization method are accounted for prospectively as changes in accounting estimates. Amortization expenses for intangible assets are included in cost of sales. Research and development (R&D) costs In accordance with IAS 38 (Intangible Assets), expenses incurred during the R&D phase must be accounted for separately. Research is defined as original and planned investigation undertaken with the prospect of gaining new scientific or technical knowledge and understanding. Such costs are expensed in the period incurred. Development is defined as the technical and commercial implementation of research findings. In accordance with IAS 38, development costs must be capitalized if the criteria set out in IAS 38.57 are fulfilled. The Company starts to capitalize costs when management board approval is obtained. The approval is only provided when it is ensured that adequate technical, financial and other resources are available to complete the project and that the Company intends to complete and use the intangible asset. Furthermore, prior to approval, the development project leader provides the management board with an overview of the future economic benefits based on external market studies and internal analysis, as well as the documentation of technical feasibility. The Company has an R&D controlling system in place which enables management to determine expenditures attributable to specific technologies during their development. The Company capitalizes costs for the development of a technology until the time that development of such technology is completed. The capitalized development costs are amortized on a straight-line basis over the economic useful life of 4–10 years based on the expected useful life of such technology. Amortization of capitalized development costs commences upon completion of the development project (technology). Intangible assets with indefinite useful lives or intangible assets not yet available for use are not amortized; however, they are tested for impairment annually and whenever there is an indication that the intangible asset may be impaired based on the individual asset or on the level of the related cash-generating unit. Patents and licenses Intangible assets acquired separately are measured on initial recognition at cost. Following initial recognition, intangible assets are carried at cost less any accumulated straight-line amortization and accumulated impairment losses. The useful life for patents and licenses is 5–8 years. Borrowing costs General and specific borrowing costs that are directly attributable to the acquisition, construction or production of a qualifying asset are capitalized during the period of time that is required to complete and prepare the asset for its intended use or sale. Qualifying assets are assets that necessarily take a substantial period of time (> 12 months) to get ready for their intended use or sale. Other borrowing costs are expensed in the period in which they are incurred. Impairment tests At the end of each reporting period, SCHMID assesses whether there is an indication that an asset may be impaired. If any indication exists, or when annual impairment testing for an asset is required, SCHMID estimates the asset’s recoverable amount. The recoverable amount is determined for an individual asset, unless the asset does not generate cash inflows that are largely independent of those from other assets or groups of assets. An asset’s recoverable amount is the higher of an asset’s or cash generating unit (“CGU”)’s fair value less costs of disposal and its value in use. When the carrying amount of an asset or CGU exceeds its recoverable amount, the asset is considered impaired and is written down to its recoverable amount. In assessing value in use, the estimated future cash flows are 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. In determining fair value less costs of disposal, recent market transactions are taken into account. If no such transactions can be identified, an appropriate valuation model is used. Property, Plant and Equipment Property, plant and equipment are measured at cost, net of accumulated depreciation and any accumulated impairment losses. Costs of construction capitalized include all attributable direct costs including material and production overheads , Subsequent expenditures on assets are capitalized only when it is probable that future economic benefits associated with the expenditure will flow to SCHMID. Repairs and maintenance are expensed in profit or loss in the period the costs are incurred. If items of property, plant and equipment are sold or disposed of, the gain or loss arising from the disposal is recognized as other operating income or expense in the combined statement of profit or loss and other comprehensive income (loss). Depreciation is calculated on a straight-line basis based on the following useful lives: ​ ​ ​ ​ ​ Useful life Buildings and building improvements 10 - 50 years Technical equipment and machinery 2 - 21 years Office and other equipment 3 - 13 years ​ The residual values, useful lives and methods of depreciation of property, plant and equipment are reviewed at each financial year end and adjusted prospectively, if appropriate. Leases SCHMID’s lease obligations primarily relate to rights to buildings mainly for its office, R&D and production premises as well as to leased vehicles. As lease contracts are negotiated on an individual basis, lease terms contain a range of different terms and conditions. Lease contracts are typically entered for a period of 1–10 years. As a lessee, at the inception of a contract, SCHMID assesses whether the 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 in exchange for consideration. SCHMID recognizes right of use assets which represent a right to use the underlying leased assets and corresponding lease liabilities which represent the present value of future lease payments, excluding short-term leases (lease term of 12 months or less from commencement date and do not contain a purchase options) and leases of low value assets acquisition costs less than €6 thousand), in the combined statement of financial position at the date at which the leased asset is available for use. Liabilities arising from a lease are initially measured at present value of lease payments discounted using interest rate implicit in the lease or incremental borrowing rate in case interest rate implicit in the lease is not readily determinable. Main components of the lease payments included in the measurement of the lease liability comprise the following: ● fixed lease payments; ● variable lease payments that depend on an index or rate, initially measured using the index or rate as at the commencement date; ● lease payments in an optional renewal period if SCHMID is reasonably certain to exercise an extension option; ● non-lease components are not separated from lease components but accounted for as a single lease components. Lease payments contain principal elements and interest. Interest is presented as part of finance costs in the combined statements of profit and loss and other comprehensive income using the effective interest method. Principal and interest portion of lease payments have been presented within financing activities in the statement of cash flow. The carrying amount of lease liabilities is remeasured if there is change in the future lease payments due to change in index or rate. Right of use assets at the lease commencement date are measured at cost less any accumulated depreciation and impairment losses and adjusted for any remeasurement of lease liabilities recognized. Cost of right of use assets includes lease liabilities, initial direct costs, prepayments made on or before the commencement date and less any lease incentives received. 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 SCHMID by the end of the lease term or the cost of the right of use asset reflects that SCHMID 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. The right of use asset is assessed for impairment in case of a triggering event. Assets related to retirement obligations for leased buildings are included in the cost of right of use assets for the respective underlying building lease. If SCHMID acts as a lessor and the contract is classified as a finance lease, it is accounted for as a financing transaction. A receivable is valued at the amount of the net investment in the lease and the resulting interest income is recognized as income. The classification of a contract as an operating lease with SCHMID acting as the lessor means that the asset remains on SCHMID`s balance sheet. The income from it is recognized in the income statement over the term of the lease. The asset is amortized in accordance with the applicable IFRS standard, if necessary. Sale and Leaseback Transaction When SCHMID sells its assets and leases them back, it needs to be determined whether the sales part of the transaction qualifies as a true sale according to IFRS 15. If the transfer of an asset does not meet the requirements of IFRS 15 to be recognized as a sale, the asset remains on the balance sheet, and a financial liability is recognized equal to the transfer proceeds in accordance with IFRS 9. In the case of a qualified sale, SCHMID measures the right of use asset arising from the leaseback at the proportion of the previous carrying amount of the asset that relates to the right of use retained. Consequently, SCHMID only recognizes any gain or loss that pertains to the rights transferred to the buyer-lessor. If the amount received for selling an asset is not the same as the value of the asset, or if the lease payments are not in line with market rates, SCHMID will make adjustments to ensure that the sale proceeds are measured at a fair value. If the lease terms are below market rates, the difference will be treated as a prepayment of future lease payments. Conversely, if the lease terms are above market rates, the excess amount will be considered as additional financing provided by the buyer-lessor to the seller-lessee (IFRS 16.101). Cash and Cash Equivalents Cash and cash equivalents in the statement of financial position and statement of cash flows comprise cash at banks and short-term highly liquid deposits with original maturities of three months or less, that are readily convertible to a known amount of cash and subject to an insignificant risk of changes in value. Financial Instruments Financial instruments are contracts that give rise to a financial asset for one entity and to a financial liability or equity instrument for another entity. SCHMID recognizes a financial instrument when it becomes a party to its contractual provisions. Purchases or sales of financial assets that require delivery of assets within a time frame established by regulation or convention in the marketplace (regular way trades) are recognized on the settlement date. Financial assets and financial liabilities are offset, and the net amount is reported in the combined statement of financial position if there is a currently enforceable legal right to set off the recognized amounts and there is an intention to settle on a net basis or to realize the assets and settle the liabilities simultaneously. SCHMID currently has no such assets and liabilities. Financial assets SCHMID’s financial assets include cash and cash equivalents, trade and other receivables as well as other financial assets. Other financial assets consist of a loan to one shareholder and other loans. Financial assets are initially measured at fair value plus, in the case of a financial asset not measured at fair value through profit or loss, transaction costs. As an exception of this general rule, trade receivables are measured at their transaction price. Financial assets are classified at initial recognition as either measured at amortized cost (“AC”), fair value through other comprehensive income (“FVOCI”), or fair value through profit or loss (“FVTPL”) depending on the contractual cash flows and SCHMID’s business model for managing them. For all financial assets SCHMID has the objective to hold financial assets in order to collect the contractual cash flows. If the contractual terms of the financial assets give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding, SCHMID will measure these financial assets at amortized cost under consideration of impairment (see following section). If the contractually agreed cash flows of a financial asset are not solely payments of principal and interest on principal amount outstanding, the respective financial asset has to be classified as measured at FVTPL. Currently all financial assets are measured at amortized cost that are determined by applying the effective interest rate (EIR) method. Effects resulting from impairment of financial assets that are not classified as FVTPL (including reversals of impairment losses on financial assets) are presented in a separate line item in profit or loss in accordance with IAS 1.82(ba), while changes in amortized cost due to the application of the EIR method are presented in finance income / expense. A financial asset is derecognized (i.e., removed from SCHMID’s combined statement of financial position) when the rights to receive cash flows from the financial asset have expired or have been transferred and SCHMID has transferred substantially all risks and rewards of ownership. Impairment of financial assets – expected credit losses (“ECLs”) All financial assets subsequently measured at amortized cost are required to be impaired at initial recognition in the amount of their expected credit loss (“ECL”). ECLs are based on the difference between the cash flows due in accordance with the contract and all the cash flows that SCHMID expects to receive. ECLs are a probability-weighted estimate of credit losses. For trade receivables with no significant financing component SCHMID applies the simplified approach as required by IFRS 9, which requires lifetime ECLs to be recognized from initial recognition of the receivables instead of monitoring the development of the customers’ credit risk. As a result, trade receivables are clustered into stage 2. In case of objective evidence of impairment, trade receivables have to be clustered into stage 3. The ECL for the uninsured proportion of the trade receivables is based on the probability of default of its customers provided by an external source. For cash and cash equivalents advantage is taken of the simplification available for financial instruments with a low credit risk (“low credit risk exemption”) as of the reporting date. Factors that can contribute to a low credit risk assessment are debtor-specific rating information and related outlooks. The requirement for classification with a low credit risk is regarded to be fulfilled for counterparties that have at least an investment grade rating; in this case there is no need to monitor credit risks for financial instruments with a low credit risk. The default probabilities applied to determine the expected credit losses for cash and cash equivalents are based on credit default swap spreads that are quoted on markets, which take future-oriented macroeconomic data into account. For the other financial assets, primarily the loan granted to one of SCHMID’s shareholder, the low credit risk exemption is not applied. Instead, it was considered credit-impaired as there was no repayment. The loan was repaid during 2023. For the determination of the ECL allowance the term-specific rating-based probability of default rates and historical recovery rates were applied. In general, SCHMID defines a default event as a situation in which the debt is no longer recoverable. If the financial instrument is perceived to be unrecoverable, then the expectation is that future contractual cash flows will not occur. At this point in time, the balance is written off after giving consideration to any possible security that is available. Financial liabilities SCHMID’s financial liabilities include trade payables and other liabilities, lease liabilities (see note 20. Leases), a share option and borrowings. Borrowings consist of loans from financial institutions and other third parties, debt funds and related parties (including bifurcated embedded derivatives). Financial liabilities are classified as measured at amortized cost ("FLAC") or fair value through profit or loss (“FVTPL”). All financial liabilities are recognized initially at fair value less, in the case of a financial liability not measured at FVTPL, directly attributable transaction costs. Financial liabilities at FVTPL are measured at fair value and gains and losses are recognized in finance income / expense. Currently, SCHMID only accounts for a share option as well as separated embedded derivatives of loans as a financial liability at FVTPL. All other financial liabilities are subsequently measured at amortized cost using the Effective Interest (“EIR”) method. When applying the EIR method, SCHMID generally amortizes any fees, transaction costs and other premiums or discounts that are included in the calculation of the effective interest rate over the expected life of the financial instrument. Gains and losses are recognized in interest expense when the liabilities are derecognized as well as through the EIR amortization process. If SCHMID revises its estimates of the cash flows used for the initial EIR method of a financial liability, the carrying amount of the financial liability is being adjusted to reflect that fact. An embedded derivative in a hybrid contract, with a financial liability or non-financial host, is separated from the host and accounted for as a separate derivative if: the economic characteristics and risks are not closely related to the host; a separate instrument with the same terms as the embedded derivative would meet the definition of a derivative; and the hybrid contract is not measured at fair value through profit or loss. The assessment whether to separate an embedded derivative is done only once at initial recognition of the hybrid contract. Reassessment only occurs if there is a change in the terms of the contract that significantly modifies the cash flows. If there are multiple embedded derivatives in a single hybrid contract that share the same risk exposure and are interdependent, they have to be treated as a combined embedded derivative. The (combined) embedded derivative is measured at fair value with changes in fair value recognized in profit or loss. The remaining host contract is measured at amortized cost. A financial liability is derecognized when the obligation under the liability is discharged or cancelled or expires. When an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as the derecognition of the original liability and the recognition of a new liability. The resulting gain or loss is recognized in the Combined Statements of Profit or Loss and Other Comprehensive Income (Loss). Income Taxes Current income taxes Current income tax assets and liabilities are measured at the amount expected to be recovered from or paid to the taxation authorities. This includes liabilities and/or receivables for the current period as well as for prior periods. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted at the reporting date in the countries where the reporting entity SCHMID operates and generates taxable income. Management periodically evaluates positions taken in the tax returns with respect to situations in which applicable tax regulations are subject to interpretation and establishes provisions where appropriate. Deferred taxes SCHMID uses the liability method of accounting for income taxes. Deferred income tax assets and liabilities represent temporary differences between the carrying amounts of assets and liabilities in the combined financial statements and their corresponding tax basis used in the computation of taxable income. Deferred tax however is not recognized on the initial recognition of goodwill, or the initial recognition of an asset or liability (other than in a business combination) in a transaction that affects neither tax nor accounting income. Deferred tax assets are recognized for all deductible temporary differences, carry forward of unused tax credits and any unused tax losses to the extent it is probable that taxable profit will be available against which the deductible temporary differences, the carry forward of unused tax credits and the unused tax losses can be utilized. Deferred tax liabilities are recognized for all taxable temporary differences associated with investments in entities and associates, except where SCHMID is able to control the reversal of the temporary differences and it is probable that the temporary difference will not reverse in the foreseeable future. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the year in which the asset is realized, or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted at the reporting date. Deferred tax liabilities and assets are offset when there is a legally enforceable right to offset current tax assets against current tax liabilities and when they relate to income taxes levied by the same taxation authority and SCHMID intends to settle its current tax assets and liabilities on a net basis. Current and deferred tax items are recognized similar to the underlying transaction either in profit or loss, other comprehensive income or directly in equity. Changes in deferred tax assets or liabilities are recognized as a component of tax expense (income) in the combined statement of profit or loss, except where they relate to items that are recognized in other comprehensive income or directly in equity, in which case the related deferred tax is also recognized in other comprehensive income or equity, respectively. Deferred tax assets and deferred tax liabilities are not discounted and are always classified as non-current asset or liabilities in the balance-sheet. SCHMID’s business activities are complex, and the related domestic and foreign tax interpretations, regulations, laws and case law are constantly changing. These issues can lead to uncertain tax positions. In accordance with IFRIC 23, uncertain tax positions are accounted for if it is probable that the tax authorities will not accept the income tax treatment applied. The better forecast of the "most likely amount" and the "expected value" has to be recognized. Provisions Provisions are recognized when SCHMID has a present obligation (legal or constructive) as a result of a past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. Fair Values of Assets and Liabilities Fair value is a market-based measurement. For some assets and liabilities, observable market transactions or market information is available. For other assets and liabilities, observable market transactions or market information might not be available. When a price for an identical asset or liability is not observable, another valuation technique is used. To increase consistency and comparability in fair value measurements, there are three levels of the fair value hierarchy: ● Level 1: contains the use of unadjusted quoted prices in active markets for identical assets or liabilities ● Level 2: inputs are other than quoted prices included within Level 1 that are observable for the asset or liability either directly or indirectly ● Level 3: inputs are based on unobservable market data If the inputs used to measure the fair value of an asset or a liability fall into different levels of the fair value hierarchy, then the fair value measurement is categorized in its entirety in the same level of the fair value hierarchy as the lowest level input that is significant to the entire measurement. SCHMID recognizes transfers between levels of the fair value hierarchy at the end of the reporting period during which the change has occurred. Pension benefits SCHMID operates one defined benefit pension plan relating to one person. The cost of providing benefits under the defined benefit plan is determined using the projected unit credit method. The defined benefit obligation is recognized within non-current provisions for pensions. Remeasurements, comprising of actuarial gains and losses, are recognized immediately in the statement of financial position with a corresponding debit or credit in Other comprehensive income ("OCI") in the period in which they occur. Remeasurements are not reclassified to profit or loss in subsequent periods. Net interest is calculated by applying the discount rate to the net defined benefit liability. SCHMID recognizes the changes in the net defined benefit obligation under OCI. Revenue Recognition The Company records revenue in accordance with IFRS 15 “Revenue from Contracts with Customers". The core principle of the guidance requires that an entity recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services. This guidance defines a five-step process to achieve this core principle and, in doing so, judgment and estimates are required within the revenue recognition process including identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price and allocating the transaction price to each separate performance obligation. Revenue amounts are presented net of discounts. Revenue from sales of machines and spare parts is recognized when the customer obtains control over the products sold upon delivery. Sales of machines sometimes include installation services and extended warranty services which, when requested, are priced as a bundle. However, when sold together, these promises qualify as separate performance obligations as they are capable of being distinct and distinct within the context of the contract. The Company allocates transaction prices to these performance obligations based on their relative standalone selling price using a cost-plus margin approach. The respective revenue is recognized after the installation is complete, which is usually after a period of two three The Company offers repair services, inspections and installations of modifications (“Services”), which are optional for customers and priced separately. When these promises are included in a contract with others, the Company considers these to be distinct performance obligations and allocates transaction prices based on their relative standalone selling price. Service revenue is recognized after the Company has satisfied the performance obligation by transferring the promised service to the customer which is usually not more than a period of two three Certain of the Company’s contracts include the provision of development services over an extended period of up to three years (long-term development contracts). The Company develops machinery according to specific requirements provided by the Customer in exchange for nonrefundable consideration provided at fixed points throughout the contract and additional consideration based on the achievement of milestones. In case of these long-term development contracts, revenue is recognized over time as these contracts meet the criteria of IFRS 15.35. Revenue resulting from fixed payments that the Company receives — which is not connected to certainly defined results — is recognized on a straight-line basis over the term of the contract as the Company efforts and inputs needed are expected to be relatively consistent overtime. Moreover, the Company receives variable consideration at the completion of certain milestones. Due to the high degree of uncertainty with respect to such payments, these are not included in the transaction price recognized overtime and instead are recorded as revenue upon completion of the relevant milestone. If the advance payments invoiced/received exceed the services already provided, the overpayment will be recognized and disclosed under contract liabilities. A contract asset is recognized if the services rendered exceed the advance payments invoiced/received. If the right to consideration is unconditional, a contract asset becomes a trade receivable. This is the case if the due date of the consideration is only dependent on the passage of time. Impairment of contract assets is measured, recognized and disclosed on the same basis as for financial assets within the scope of IFRS 9. SCHMID applies industry-standard payment terms when invoicing. Inventories SCHMID capitalizes and measures existing inventory at the lower of cost or net realizable value. The average cost method is used as the measurement standard for acquisition and production costs. The production costs include not only the direct unit costs but also an appropriate share of material and production overheads. Where necessary, impairments to reflect lower net realizable values as well as other inventory risks are recorded. An impairment loss is reversed, if the reasons for the write-down in the past no longer exist. Government Grants The Company has received various government grants related to innovation projects encouraged by governmental authorities which generally reimburse a specified amount or proportion of the costs related to such projects. As these grants are not received in the course of the n

SIGNIFICANT ACCOUNTING JUDGMENT

SIGNIFICANT ACCOUNTING JUDGMENTS, ESTIMATES AND ASSUMPTIONS	12 Months Ended
	Dec. 31, 2023
SIGNIFICANT ACCOUNTING JUDGMENTS, ESTIMATES AND ASSUMPTIONS
SIGNIFICANT ACCOUNTING JUDGMENTS, ESTIMATES AND ASSUMPTIONS	4. The preparation of SCHMID’s combined financial statements requires management to make judgements, estimates and assumptions that affect the reported amounts. Management exercises its best judgment based upon its experience and the circumstances prevailing at that time. The estimates and assumptions are based on available information and conditions at the end of the financial period presented and are reviewed on an ongoing basis. Actual results may differ from these estimates under different assumptions and conditions and may materially affect the financial results or the financial position reported in future periods. Accounting Judgments R&D Costs The area of R&D is of crucial importance for the sustainable and long-term success of SCHMID. For each project, management assesses whether the capitalization criteria for an internally generated intangible asset is fulfilled. Especially the distinction between research and development phase includes accounting judgement by the management. Leasing In the area of leasing, judgment is required when assessing renewal options. Especially if the options have to be executed over several years. The development of the business, the market and the macroeconomic situation are taken into account by management. Sale and Leaseback In evaluating a sale and leaseback transaction, the initial step is to verify if a sale has occurred according to the definition provided by IFRS 15. Accounting judgment is applied by management when reviewing the transfer of control. Accounting Estimates Impairment test An impairment test on R&D costs capitalized on assets that are not yet ready for use is performed at each reporting date. For detailed information on key assumptions underlying recoverable amounts please refer to note 18. Intangible Assets. Inventories Inventories are recognized at the lower of historical cost and net realizable value. Net realizable value is the estimated selling price less estimated costs of completion and estimated costs necessary to finalize the sale. Reserves for inventories, e.g. slow moving items are calculated based on experience in the past. Management estimates are used in determining the expected selling price as well as estimations about slow moving items. Deferred tax assets Deferred tax assets are recognized if sufficient future taxable profit is available, including income from forecasted operating earnings and the reversal of existing taxable temporary differences. At each period-end, management evaluates the recoverability of deferred tax assets. As future developments are uncertain and partly beyond management’s control, assumptions are necessary to estimate future taxable profits as well as the period in which deferred tax assets will be recovered. Estimates are revised in the period in which there is sufficient evidence to revise assumptions.

SIGNIFICANT EVENTS IN THE PERIO

SIGNIFICANT EVENTS IN THE PERIOD ENDED DECEMBER 31, 2023	12 Months Ended
	Dec. 31, 2023
SIGNIFICANT EVENTS IN THE PERIOD ENDED DECEMBER 31, 2023
SIGNIFICANT EVENTS IN THE PERIOD ENDED DECEMBER 31, 2023	5. Transactions related to the sale of Schmid Silicon Technology Group In March 2023, a Stock Purchase Agreement (hereinafter referred to as "SPA") was entered into to sell Schmid Silicon Technology Holding GmbH and subsidiaries (hereinafter referred to as "the Silicon Group") to the Group 14 Technologies Group (hereinafter referred to as "G14"). Prior to the closing of the SPA on June 29, 2023, the Silicon Group was a related party of SCHMID and controlled by Christian Schmid (hereinafter referred to as "CS"), one of the owners of SCHMID. The proceeds from the sale of the Silicon Group were, among other things, used to repay the shareholder loan between CS and SCHMID. The proceeds from the shareholder loan were used to repay certain borrowings of SCHMID. (a) Additionally, receivables from the Silicon Group which had been impaired in 2017 by SCHMID became recoverable as a result of the SPA resulting in an impairment reversal of €21,375 thousand. (b) Also, as part of the SPA, certain liabilities of the Silicon Group due to SCHMID were settled with the transfer of shares of G14 to SCHMID valued at €17,664 thousand. (c) Based on an agreement reached between CS, the Silicon Group and SCHMID in 2021, SCHMID was granted a bonus payment (hereinafter referred to as “Silicon exit bonus”) to be paid upon a successful sale of the Silicon Group to a third party. The Silicon exit bonus of €4,700 thousand was determined based on 5% of the net proceeds (after repayment of third party debt) received from a sale. (d) In June 2023, CS repaid the shareholder loan to SCHMID with a total cash amount of €70,000 thousand. (e) The expected credit loss of €1,418 thousand was therefore reversed. Debt funds During the year ended December 31, 2023, SCHMID signed agreements with both of the debt funds to repay the loans during 2023. (f) The parties have agreed to modify certain terms of the loan, including amount and nature of repayments and interest rates resulting in loan extinguishment gains of €15,852 thousand. The extinguishment gains have been recorded in finance income. (g) In addition, SCHMID and one of debt funds have agreed upon an additional payment of € 2,800 thousand to be paid by the Company, which resulted in finance expense at the same amount. (h) One of the two loans was repaid in cash in June 2023. (i) The second loan was repaid in September 2023 by transferring G14 shares amounting to €17,664 thousand to the debt fund by SCHMID. In addition, Schmid Verwaltungs GmbH transferred G14 shares to the debt fund to settle the complete loan liability of SCHMID. Schmid Verwaltungs GmbH (related party to SCHMID), by transferring G14 shares, repaid a loan receivable from SCHMID towards Schmid Verwaltungs GmbH. The following table shows the significant impacts of the transactions described above on the financial statements as of and for the year ended December 31, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Shareholder Receivable ​ ​ ​ ​ Silicon ​ receivable ​ Silicon exit ​ Group14 ​ Debt ​ in € thousand ​ receivables ​ CS ​ bonus ​ shares ​ funds ​ 01/01/2023 ​ — ​ 65,589 ​ — ​ — ​ (104,166) Other income ​ — ​ ​ ​ 4,700 (c) — ​ — Reversal of impairment 21,375 (a) 1,418 (e) — — — ​ Finance income — 3,173 — — 15,852 (f) Finance expense — — — — (4,302) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash payments — (70,000) (d) — — 70,000 (h) Non-cash settlement of receivables (17,664) (b) — — 17,664 — ​ Non-cash settlement of loans (2,800) (g) — — (17,664) (i) 22,616 ​ Other (911) (73) — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 12/31/2023 — 107 4,700 — — ​ ​

SEGMENT AND GEOGRAPHIC INFORMAT

SEGMENT AND GEOGRAPHIC INFORMATION	12 Months Ended
	Dec. 31, 2023
SEGMENT AND GEOGRAPHIC INFORMATION
SEGMENT AND GEOGRAPHIC INFORMATION	6. In accordance with IFRS 8, Operating Segments, the Company’s operating segments are based on the management approach. Accordingly, segments must be classified and disclosed based on the criteria used internally by the chief operating decision maker (CODM) for the allocation of resources and the evaluation of performance of the components of SCHMID. The Chief Executive Officer, who allocates resources and evaluates segment performance based on the reports regularly submitted to him is the CODM. During the first half of 2023, in connection with the planned Business Combination transaction, management established a new management reporting and governance structure. The segment reporting of the historical combined financial statements as of and for the years ended December 31, 2023, 2022 and 2021 reflects the current management reporting structure. As the CODM examines the Company’s performance from a product perspective and has therefore identified two operating segments: (1) Technical equipment and processes includes mainly the sale of machines including installation and extended warranties. (2) Spare parts and services includes the sale of spare parts as well as services including repairs, modifications of machines and inspections. The operating segments are also the reporting segments of the Company. The performance of the operating segments is measured on the basis of revenue and segment adjusted EBITDA, as measured for management reporting purposes. The measure is defined as net profit (loss) calculated in accordance with IFRS before financial result, including result from at equity investments, taxes, depreciation and amortization. Assets are neither allocated to the operating segments nor regularly provided to the CODM. SCHMID’s key financial metrics by segment are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 ​ ​ Technical ​ ​ ​ ​ ​ Total ​ ​ equipment ​ Spare parts ​ ​ ​ management in € thousand ​ and processes and services Other reporting Revenues 78,743 11,503 — 90,246 Segment adjusted EBITDA 12,872 3,787 22,440 39,099 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 ​ ​ Technical ​ ​ ​ ​ ​ Total ​ ​ equipment ​ Spare parts ​ ​ ​ management in € thousand ​ and processes and services Other reporting Revenues 78,778 16,280 — 95,058 Segment adjusted EBITDA 14,155 9,329 (3,546) 19,937 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 ​ ​ Technical ​ ​ ​ ​ ​ Total ​ ​ equipment ​ Spare parts ​ ​ ​ management in € thousand ​ and processes and services Other reporting Revenues 27,587 11,894 — 39,481 Segment adjusted EBITDA 1,868 6,873 (11,276) (2,534) ​ The column “Other” includes costs related to head office and group services as well as certain effects not directly attributable to the operating segments. In the financial year ended December 31, 2023 the increase in “Other” is mainly due to the reversal of the impairment of the Silicon receivables (see notes 5. Significant Events in the Period ended December 31, 2023 and 13. Reversal of Impairment of Financial Assets, net) and the gain resulting from bonus payments relating to disposals of several entities (see note 5. Significant Events in the Period ended December 31, 2023 ). Reconciliation from total segment adjusted EBITDA to income (loss) for the period according to IFRS: ​ ​ ​ ​ ​ ​ ​ ​ in € thousand 2023 2022 2021 Total segment adjusted EBITDA 39,099 19,937 (2,534) Financial result 9,594 (11,988) (14,654) Amortization and depreciation (6,904) (6,283) (4,893) Share of profit (loss) in joint ventures (1,057) — — Income tax benefit (expense) ​ (2,778) ​ 1,924 ​ (5,195) Net income (loss) for the period 37,953 3,591 (27,277) ​ Revenue can be split into the following geographical areas: ​ ​ ​ ​ ​ ​ ​ ​ in € thousand 2023 2022 2021 China 15,308 39,424 17,652 Taiwan 1,634 12,846 3,814 USA 17,522 11,478 3,375 Germany 9,577 10,743 5,390 Malaysia 16,681 7,915 — Austria 17,810 3,928 3,793 Other 11,714 8,724 5,457 Total 90,246 95,058 39,481 ​ The revenues are allocated based on the country of the customer receiving the service or goods. There are three customers in 2023 with a revenue share of more than 10 % individually of the total revenues. The revenue with the first customer amounts to €17,649 thousand (2022: €25,092 thousand, 2021: €9,931 thousand), €16,361 thousand for the second customer (2022: €11,876 thousand, 2021: €— thousand) and €12,280 thousand for the third customer (2022: €— thousand, 2021:€— thousand). Revenue for these three customers is recognized within both the “Technical equipment and processes” and “Spare parts and services” operating segments. Non-current assets are distributed among geographical areas as follows: ​ ​ ​ ​ ​ ​ in € thousand 12/31/2023 12/31/2022 Germany 26,853 28,334 China 2,504 1,922 Other 376 266 Total 29,733 30,523 ​ The non-current assets include property, plant and equipment as well as intangible assets.

REVENUE FROM CONTRACTS WITH CUS

REVENUE FROM CONTRACTS WITH CUSTOMERS AND COST OF SALES	12 Months Ended
	Dec. 31, 2023
REVENUE FROM CONTRACTS WITH CUSTOMERS AND COST OF SALES
REVENUE FROM CONTRACTS WITH CUSTOMERS AND COST OF SALES	7. The split of SCHMID revenues according to types of sales categories is as follows: ​ ​ ​ ​ ​ ​ ​ ​ in € thousand 2023 2022 2021 Machines 1 77,554 73,151 25,626 Spare Parts 9,722 14,302 8,081 Service 2 1,781 1,978 3,802 Other 1,189 5,627 1,971 Total 90,246 95,058 39,481 (1) Included within the “Machines” category is revenue from the sale and installation of machines, long-term development and extended warranties. (2) Included within the “Services” category is revenue from repair services, installations of modifications and inspections. Revenue recognized at a point in time was €81,761 thousand, €89,316 thousand and €36,832 thousand for the fiscal years ended December 31, 2023, 2022 and 2021, respectively. Revenue recognized over time was €8,485 thousand, €5,742 thousand and €2,649 thousand for the fiscal years ended December 31, 2023, 2022 and 2021, respectively. At the end of fiscal year 2023, SCHMID had contract liabilities in connection with the sale of machines, spare parts and installations resulting from prepayments made by customers of €17,931 (December 31, 2022: €30,569 thousand, December 31, 2021: €25,682 thousand). The decrease in 2023 mainly results from a long-term development contract for which revenue is recognized over time in 2022. The services provided by SCHMID and the timing of payments made by the customer during the contract term may differ. In those cases, the contract is recognized in the Combined Statements of Financial Position as either a contract asset or a contract liability. Apart from contract liabilities in connection with customer prepayments, SCHMID recognizes long-term development contracts over time, which leads to a recognition of contract liabilities. Changes to contract liabilities for years ended December 31, 2023, 2022 and 2021 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ in € thousand 2023 2022 2021 Balance at January 1 30,569 25,682 17,378 Sales revenues included in contractual liabilities at the beginning of the period (30,406) (25,682) (17,378) Increase due to customer payments received 17,769 30,569 25,682 Balance at December 31 17,931 30,569 25,682 ​ At the end of fiscal year 2023, the Order Backlog for the machine sales amounts to €48,651 thousand (December 31, 2022: €79,571 thousand, December 31, 2021: €60,982 thousand). The Order Backlog for spare parts and services amounts to €6,380 thousand (December 31, 2022: €6,535 thousand, December 31, 2021: €7,239 thousand). All Order Backlog is expected to be realized within 1 to 3 years. Order Backlog represents the goods or services ordered by customers but not delivered/provided as of the date of the statement of financial position. SCHMID’s cost of sales include the following cost types: ​ ​ ​ ​ ​ ​ ​ ​ in € thousand 2023 2022 2021 Personnel expenses (16,690) (16,221) (14,094) Material expenses (35,767) (34,274) (9,519) Depreciation/amortization (4,904) (4,147) (2,746) Other expenses (6,488) (7,079) (4,147) Total cost of sales (63,849) (61,721) (30,506) ​ Other expenses include a variety of positions such as cost for outward freight, production related short-term leases and facility costs.

SELLING

SELLING	12 Months Ended
	Dec. 31, 2023
SELLING
SELLING	8. Selling expenses consist of the following: ​ ​ ​ ​ ​ ​ ​ ​ in € thousand 2023 2022 2021 Personnel expenses (8,295) (8,017) (5,535) Legal and consulting fees (834) (873) (581) Sales Commission (241) (475) (95) Distribution related external administration (1,537) (582) (801) Advertisement (649) (428) (294) Other expenses (1,021) (995) (545) Total selling expenses (12,577) (11,369) (7,851) ​ Distribution-related external administration comprises costs including utilities, insurance, travel expenses or expenses for short-term leases. Other expenses include mainly depreciation.

GENERAL ADMINISTRATION

GENERAL ADMINISTRATION	12 Months Ended
	Dec. 31, 2023
RESEARCH AND DEVELOPMENT EXPENSES
GENERAL ADMINISTRATION	9. General administrative expenses consist of the following: ​ ​ ​ ​ ​ ​ ​ ​ in € thousand 2023 2022 2021 Personnel expenses (4,131) (3,992) (3,692) Legal and consulting fees (4,401) (1,681) (1,584) External administrative expenses (965) (692) (529) Other administrative expenses (3,042) (607) (493) Total administrative expenses (12,538) (6,973) (6,298) ​ External administrative expenses comprises allocated cost such as utilities, insurances, travel expenses or expenses for short-term leases. Other administrative expenses mainly include legal and consulting fees which increased significantly in 2023 due to the planned SPAC transaction.

RESEARCH AND DEVELOPMENT EXPENS

RESEARCH AND DEVELOPMENT EXPENSES	12 Months Ended
	Dec. 31, 2023
RESEARCH AND DEVELOPMENT EXPENSES
RESEARCH AND DEVELOPMENT EXPENSES	10. R&D expenses that do not fulfill the recognition criteria according to IAS 38 consist of the following: ​ ​ ​ ​ ​ ​ ​ ​ in € thousand 2023 2022 2021 Personnel expenses (2,261) (1,888) (1,319) Depreciation/amortization (877) (910) (627) Legal and consulting fees (587) (614) (422) R&D related external administration (906) (856) (282) Other research and development expenses (517) (549) (83) Total research and development expenses (5,148) (4,818) (2,733) ​ R&D related administration comprises allocated cost such as utilities, insurance, travel expenses or expenses for short-term leases.

OTHER INCOME

OTHER INCOME	12 Months Ended
	Dec. 31, 2023
OTHER INCOME
OTHER INCOME	11. Other income consists of the following: ​ ​ ​ ​ ​ ​ ​ ​ in € thousand 2023 2022 2021 Foreign currency gains 2,969 1,503 538 Bonus payments 9,200 — — Other miscellaneous income 3,815 1,871 1,387 Total other income 15,985 3,375 1,924 ​ The bonus payments are comprised of the Silicon exit bonus of €4,700 thousand (see note 5. Significant Events in the Period ended December 31, 2023) as well as an exit bonus related to Montratec. In 2018, the Company sold one of its subsidiaries, Montratec GmbH, to Montratec Sarl. The underlying stock purchase agreement included a clause on potential exit events, which requires Montratec Sarl to pay SCHMID up to €4,500 thousand (hereinafter referred to as “Montratec exit bonus”) upon a future exit of Montratec Sarl from Montractec GmbH. Additionally, SCHMID entered into a guarantee agreement with Schmid Grundstücke GmbH & Co. KG (referred to as “SGG”), an entity jointly controlled by shareholders of SCHMID, wherein SGG would reimburse the difference between the exit sale consideration actually received from Montratec Sarl and €4,500 thousand (hereinafter referred to as “Montratec guarantee”) in the event that the exit sale consideration is below €4,500 thousand. As a remuneration for this guarantee, SCHMID was required to pay SGG an amount equal to 1.5% p.a. of the €4,500 thousand per year until an exit event would occur. SCHMID was informed in April 2023 about this exit event, i.e. that Montratec GmbH was sold by Montratec Sarl in April 2023 which resulted in an exit bonus of €3,954 thousand being owed by Montratec Sarl to SCHMID and €546 thousand being owed by SGG. The bonus from Montratec has been received in cash during 2023, the payment from SGG as been netted with payables of SCHMID against SGG. Other miscellaneous income includes a gain resulting from a cancelled sale and leaseback agreement with a third party (€1,875 thousand for the fiscal year ended December 31, 2023) as well as government grants related to income in an amount of €356 thousand for the fiscal year ended December 31, 2023 (2022: €519 thousand, 2021: €123 thousand). The grants are received in cash to compensate for expenses incurred in relation to research projects. In addition, other miscellaneous income includes income from asset disposals, mainly from the sale and leasback transaction (€508 thousand).

OTHER EXPENSES

OTHER EXPENSES	12 Months Ended
	Dec. 31, 2023
OTHER EXPENSES
OTHER EXPENSES	12. Other expenses consist of the following: ​ ​ ​ ​ ​ ​ ​ ​ in € thousand 2023 2022 2021 Foreign currency losses (2,388) (2,399) (2,942) Other taxes (166) (122) (776) Disposal of assets — (231) (154) Miscellaneous other items (65) (236) (908) Total other expenses (2,620) (2,988) (4,779) ​ Miscellaneous other items mainly include banking fees and other service charges.

REVERSAL OF IMPAIRMENT OF FINAN

REVERSAL OF IMPAIRMENT OF FINANCIAL ASSETS, NET	12 Months Ended
	Dec. 31, 2023
REVERSAL OF IMPAIRMENT OF FINANCIAL ASSETS, NET
REVERSAL OF IMPAIRMENT OF FINANCIAL ASSETS, NET	13. The reversal of impairments of financial assets includes the following amounts: ​ ​ ​ ​ ​ ​ ​ ​ In € thousand 12/31/2023 12/31/2022 12/31/2021 Reversal of receivables from the Silicon Group 21,375 — — Reversal of impairment of shareholder loan (included in trade and other receivables) 1,418 3,091 3,284 Other (97) — 49 Total 22,696 3,091 3,333 ​ For additional information on the Silicon Group impairment reversal refer to note 5. Significant Events in the Period ended December 31, 2023. The reversals of impairment of the shareholder loan in prior years are due to the fact that the estimated repayment date is getting closer every year. The shareholder loan was repaid during the financial year ended December 31, 2023. Therefore, the expected credit loss that was previously recognized on the shareholder loan was reversed during the financial year ended December 31, 2023.

FINANCIAL RESULT

FINANCIAL RESULT	12 Months Ended
	Dec. 31, 2023
FINANCIAL RESULT
FINANCIAL RESULT	14. Financial result includes the following: ​ ​ ​ ​ ​ ​ ​ ​ in € thousand 2023 2022 2021 Finance income 19,685 5,758 3,360 thereof fair value changes — 1,669 124 thereof interest income and similar proceeds 3,883 4,089 3,236 thereof gain from loan extinguishment 15,802 — — Finance expenses (10,091) (17,746) (18,014) thereof interest portion of lease payments (103) (68) (49) thereof interest expense (9,988) (17,678) (17,965) Financial result 9,594 (11,988) (14,654) ​ Interest income includes in 2023 the interest received on loans, mainly the shareholder loan. For further information on the extinguishment, see note 28. Financial Liabilities. Fair value changes in 2022 result from the fair value measurement of the share option (see note 28. Financial Liabilities) and the embedded derivatives that were bifurcated from certain borrowings. For further information on the interest on of lease liabilities please see note 20. Leases. Interest expenses are mainly resulting from changes in the book value of the loans by using the effective interest method. Interest expenses are mainly resulting from financial liabilities and is recognized based on the effective interest method and the additional payment for the debt fund during 2023, see note 5. Significant Events in the Period ended December 31, 2023.

SHARE OF PROFIT (LOSS) IN JOINT

SHARE OF PROFIT (LOSS) IN JOINT VENTURES	12 Months Ended
	Dec. 31, 2023
SHARE OF PROFIT (LOSS) IN JOINT VENTURES
SHARE OF PROFIT (LOSS) IN JOINT VENTURES	15. The share of profit (loss) in joint ventures is relating to a capital injection in the Saudi Arabian joint venture in 2023 that was immediately expensed due to the book value of €0 thousand.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2023
INCOME TAXES
INCOME TAXES	16. Income Tax Benefit (Expense) Income taxes recognized in the Combined Statement of Profit or Loss and Other Comprehensive Income are as follows: ​ ​ ​ ​ ​ ​ ​ ​ in € thousand 2023 2022 2021 Current income tax (expense) / income (1,044) (2,908) (1,839) thereof prior years 168 (6) (35) Deferred tax (expense) / income (1,735) 4,832 (3,357) thereof temporary differences (1,853) 12,693 (12,367) thereof tax loss/interest carryforwards 118 (7,861) 9,010 Income tax as per statement of profit or loss (2,778) 1,924 (5,195) ​ For entities domiciled within Germany a corporation tax rate of 15% was used for the calculation of deferred taxes. In addition, a solidarity surcharge of 5.5% on corporation tax and a trade tax rate of 13.3% were taken into account. This resulted in an overall tax rate of 29.125% (2022: 29.125%, 2021: 29.125%) for German companies, which is also SCHMID’s tax rate. At international SCHMID companies, the respective country-specific tax rates were used for the calculation of current and deferred taxes. Tax Rate Reconciliation The following table presents the reconciliation of expected tax expense and reported tax expense. Expected tax expense is determined by multiplying combined profit before tax from continuing operations by the total SCHMID tax rate of 29.125%: ​ ​ ​ ​ ​ ​ ​ ​ ​ in € thousand 2023 2022 2021 Income (loss) before income tax 40,732 1,667 (22,082) ​ Income tax rate 29.125 % 29.125 % 29.125 % Expected income tax income (expense) (11,863) (485) 6,431 ​ Tax rate differences 891 911 (2,270) ​ Non-deductible expenses (79) (573) (1,204) ​ Tax -free income 1,263 495 2,755 ​ Trade tax modifications (116) (269) (417) ​ Tax effects from withholding tax (166) (370) (1,485) ​ Tax effects from prior years 488 642 634 ​ Permanent differences resulting from the statement of financial position 2,912 (8) (2,486) ​ Loss utilisation of previously not recognized tax loss carryforwards 0 1,152 556 ​ Change in valuation allowance from temporary differences and tax loss carryforwards 3,598 927 (4,904) ​ Change from interest carryforwards 333 (957) (2,827) ​ Other reconciling items (38) 460 21 ​ Income tax benefit (expense) (2,778) 1,924 (5,195) ​ Effective tax rate in % ​ 6.82 % (115.46) % (23.53) % ​ Deferred Taxes The deferred tax assets ("DTA") and deferred tax liabilities ("DTL") recognition on the financial statement line items in the Statement of Financial Position are summarized below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Deferred taxes Deferred taxes in ​ ​ ​ ​ ​ in statement of ​ other comprehensive ​ Currency translation ​ ​ ​ ​ ​ ​ profit or loss ​ income ​ adjustments ​ DTA ​ DTL in € thousand ​ ​ ​ ​ ​ ​ ​ 2023 ​ 2023 Non-current assets (13,373) — (116) 3,628 (6,970) Intangible assets 239 — (126) 1,843 (4,193) Property, plant and equipment (2,167) — 9 155 (2,542) Financial assets (11,444) — 1 1,630 (235) Current assets 14,109 — 49 382 (5,584) Inventories (487) — (6) 220 (598) Receivables and other assets 15,526 — 52 149 (3,985) Other current assets (899) — 3 — (956) Cash and cash equivalents (31) — 1 13 (44) Non-current liabilities 3,288 (7) (8) 2,813 (7,757) Non-current borrowings 868 — 4 17 (7,433) Provisions for pensions 52 (7) (7) 140 (67) Non-current provisions (161) — — 60 (257) Non-current lease liability 2,529 — (5) 2,596 — Current liabilities (8,820) — (124) 8,472 (2,998) Current borrowings (7,995) — — 3,803 (575) Current contract liabilities (929) — (10) 1,525 — Trade payables and other liabilities 520 — (109) 1,600 (665) Other current liabilities 629 — (20) 1,104 (30) Current lease liability 121 — (4) 210 — Current provisions (1,166) — 19 230 (1,727) Tax loss/interest carryforward 3,061 — (2) 6,167 — Tax Loss Carryforward (CIT) 1,693 — (2) 3,408 — Tax Loss Carryforward (Trade Tax) 1,368 — — 2,759 — Interest Carryforward — — — — — Gross value (1,735) (7) (194) 21,463 (23,308) Netting ​ ​ ​ (18,920) 18,920 Recognition in the statement of financial position ​ ​ ​ 2,543 (4,388) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Deferred taxes Deferred taxes in ​ ​ ​ ​ ​ in statement of ​ other comprehensive ​ Currency translation ​ ​ ​ ​ ​ ​ profit or loss ​ income ​ adjustments ​ DTA ​ DTL in € thousand ​ ​ ​ ​ ​ ​ ​ 2022 ​ 2022 Non-current assets 9,460 — (44) 15,085 (4,937) Intangible assets (28) — 45 2,084 (4,547) Property, plant and equipment (78) — 1 153 (381) Financial assets 9,566 — — 12,848 (9) Current assets (18,238) — 70 1,801 (21,161) Inventories 51 — (3) 246 (131) Trade receivables and other receivables (18,193) — 70 1,554 (20,969) Other current assets (96) — 2 — (60) Cash and cash equivalents — — — — — Non-current liabilities 8,138 (88) (577) 348 (8,571) Non-current financial liabilities 7,334 — — — (8,287) Provisions for pensions 513 (88) (575) 93 (65) Non-current provisions 256 — (1) 120 (155) Non-current lease liability 35 — (1) 136 (64) Current liabilities 13,333 — (67) 15,871 (1,453) Current financial liabilites 8,367 — — 11,223 — Current contract liabilities 2,351 — (4) 2,464 — Trade payables and other liabilities 1,209 — (51) 1,281 (757) Other current liabilities 676 — (5) 545 (80) Current lease liability 27 — (1) 93 — Current provisions 704 — (5) 266 (616) Tax loss/interest carryforward (7,861) — 12 3,108 — Tax Loss Carryforward (CIT) (4,535) — 12 1,717 — Tax Loss Carryforward (Trade Tax) (3,326) — — 1,392 — Interest Carryforward — — — — — Gross value 4,832 (88) (606) 36,213 (36,122) Netting ​ ​ ​ (33,619) 33,619 Recognition in the statement of financial position ​ ​ ​ 2,594 (2,504) ​ No deferred tax assets were recognized for the following tax attributes (gross): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 ​ 2022 ​ 2021 in € thousand ​ Tax base DTA Tax base DTA Tax base DTA Deductible temporary differences 41,498 10,805 34,149 8,984 65,199 18,070 Tax loss carryforward (CIT) 91,405 14,701 108,229 17,415 75,903 12,641 Tax loss carryforward (trade tax) 49,147 6,536 65,308 8,686 45,834 6,096 Interest carryforward 35,229 9,089 36,956 9,535 33,209 8,568 ​ The maturities of the tax loss carryforwards for which no deferred tax assets were recognized are as follows: ​ ​ ​ ​ ​ ​ ​ ​ in € thousand 2023 2022 2021 Up to 5 years 2,685 5,107 3,310 Up to 10 years 1,772 1,064 927 Up to 15 years 4,508 5,187 3,943 Up to 20 years — — 340 unlimited 131,586 162,177 113,216 ​ The reported tax loss and interest carryforwards mainly relate to the German SCHMID entities and can be carried forward indefinitely (German minimum taxation rules and interest stripping rules apply), however, they may be subject to restrictions of the German change in ownership rules (Sec. 8c Körperschaftsteuergesetz The tax loss and interest carryforwards mainly relate to entities that have a history of losses which have been accumulated in the previous years. The respective entities neither have any taxable temporary difference exceeding the deductible temporary differences nor any tax planning opportunities and documentation available that could partly support the recognition of these tax attributes as deferred tax assets. On this basis, SCHMID has determined that it cannot recognize deferred tax assets on the majority of tax attributes carried forward. Taxable temporary differences associated with investments in entities, branches and associates and interests in joint arrangements in the amount of €931 thousand as of December 31, 2023 (December 31, 2022: €937 thousand) have not been recognized. Deferred tax assets exceeding deferred tax liabilities in the amount of €522 thousand as of December 31, 2023 (December 31, 2022: €2,594 thousand) for companies that generated a loss in the current or previous period were recognized as these are considered to be recoverable. On 27 March 2024, the German Growth Opportunities Act (Wachstumschancengesetz) was substantively enacted. As part of this act, the German minimum taxation rule has been temporarily changed for the fiscal years 2024-2027. As a result, the loss deduction has been increased from 60% to 70%. As a result SCHMID Group could benefit by a maximum amount of €522 thousand.

EARNINGS PER SHARE

EARNINGS PER SHARE	12 Months Ended
	Dec. 31, 2023
EARNINGS PER SHARE
EARNINGS PER SHARE	17. The information on earnings per share pursuant to IAS 33 has not been presented, as the combined entities have not formed a statutory group and, as such, SCHMID has no historical capital structure.

INTANGIBLE ASSETS

INTANGIBLE ASSETS	12 Months Ended
	Dec. 31, 2023
INTANGIBLE ASSETS
INTANGIBLE ASSETS	18. Intangible assets comprise the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ Development Patents and ​ in € thousand ​ Costs ​ licenses ​ Total Costs of acquisition 1/1/2023 22,832 1,042 23,874 Additions 2,915 359 3,274 Disposals/Retirements — — — Foreign exchange differences (17) (28) (46) 12/31/2023 25,729 1,372 27,102 Accumulated amortization/write downs 1/1/2023 7,495 552 8,046 Amortization 3,975 158 4,133 Disposals/Retirements — — — Foreign exchange differences (17) (26) (44) 12/31/2023 11,452 684 12,136 Carrying amount: 1/1/2023 15,337 490 15,828 12/31/2023 14,278 689 14,966 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Development Patents and ​ in € thousand Costs licenses Total Costs of acquisition 1/1/2022 22,968 6,461 29,429 Additions 3,219 389 3,607 Disposals/Retirements (3,355) (5,807) (9,162) Foreign exchange differences — (1) (1) 12/31/2022 22,832 1,042 23,874 Accumulated amortization/write downs 1/1/2022 7,174 6,280 13,454 Amortization 3,529 80 3,609 Disposals/Retirements (3,208) (5,807) (9,015) Foreign exchange differences — (2) (2) 12/31/2022 7,495 552 8,046 Carrying amount: 1/1/2022 15,794 181 15,976 12/31/2022 15,337 490 15,828 ​ Retirements relate to intangibles assets with a net book value of zero that are no longer in use by SCHMID and have therefore been eliminated from the asset register. Development costs represent internally generated intangible assets related to process and manufacturing technologies for various industries such as printed circuit board ("PCB"), substrate manufacturing, photovoltaics, and glass and energy storage, wet processes (horizontal, vertical and single panel) and vacuum processes. Patents and licenses include software licenses, licenses for the use of know-how and acquired patents. The amount of borrowing costs capitalised during the period 2023 is €494 thousand (December 31, 2022: €640 thousand) with a capitalisation rate of 10% (December 31, 2022: 10%). SCHMID receives government grants that are related to self-developed technology and processes recognized as intangible assets. The grants are received to compensate for incurred expenses that are capitalized as intangible assets and therefore SCHMID reduces the asset value by the amount of the grant. An amount of €159 thousand was deducted from the capitalized book value during 2023, €268 thousand during 2022 and €723 thousand during 2021. Impairment test on development cost At each balance sheet date SCHMID performs an impairment test on development costs that are capitalized but not yet ready for use. The impairment test is performed on a CGU level. The recoverable amount of the CGU that includes these development costs (the entity using those technologies) was estimated based on the present value of the future cashflows expected to be derived from the CGU (fair value less cost to sell), using a pre-tax discount rate of 12.89% (December 31, 2022: 11.17%). The recoverable amount of the CGU was estimated to be higher than its carrying amount and no impairment was required.

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT	12 Months Ended
	Dec. 31, 2023
PROPERTY, PLANT AND EQUIPMENT
PROPERTY, PLANT AND EQUIPMENT	19. Property, plant and equipment is comprised of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Land, ​ ​ ​ ​ ​ ​ buildings and ​ Technical ​ Office and ​ ​ ​ ​ ​ ​ leasehold ​ equipment and ​ other ​ Assets under ​ ​ in € thousand improvements machinery equipment construction Total Costs of acquisition or construction: 1/1/2023 21,303 18,263 14,561 — 54,127 Additions — 1,679 1,410 513 3,602 Disposals/Retirements (21,085) (3,448) (458) — (24,991) Foreign exchange differences 1 (164) (126) — (289) 12/31/2023 220 16,330 15,386 513 32,449 Accumulated depreciation: 1/1/2023 11,581 15,892 13,293 — 40,766 Depreciation 483 982 583 — 2,048 Disposals/Retirements (11,995) (3,447) (414) — (15,856) Foreign exchange differences 1 (114) (101) — (214) 12/31/2023 71 13,314 13,359 — 26,744 Carrying amount: 1/1/2023 9,722 2,371 1,268 — 13,361 12/31/2023 149 3,016 2,027 513 5,704 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Land, ​ ​ ​ ​ ​ ​ buildings and ​ Technical ​ Office and ​ ​ ​ ​ ​ ​ leasehold ​ equipment and ​ other ​ Assets under ​ ​ in € thousand improvements machinery equipment construction Total Costs of acquisition or construction: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 1/1/2022 21,143 18,692 15,139 345 55,318 Additions 161 940 323 — 1,423 Disposals/Retirements — (1,638) (858) (12) (2,507) Transfers — 333 — (333) — Foreign exchange differences — (64) (43) — (107) 12/31/2022 21,303 18,263 14,561 — 54,127 Accumulated depreciation: 1/1/2022 11,097 16,566 13,756 — 41,419 Depreciation 484 964 417 — 1,865 Disposals/Retirements — (1,585) (842) — (2,426) Foreign exchange differences — (53) (38) — (92) 12/31/2022 11,581 15,892 13,293 — 40,766 Carrying amount: 1/1/2022 10,046 2,126 1,383 345 13,899 12/31/2022 9,722 2,371 1,268 — 13,361 ​ Property, plant and equipment includes right-of-use assets amounting to €9,063 thousand as of December 31, 2023 (December 31, 2022: €1,334 thousand). For further information refer to note 20. Leases. Security pledges have been released in 2023 as the respective property has been sold.

LEASES

LEASES	12 Months Ended
	Dec. 31, 2023
LEASES
LEASES	20. Lessee accounting SCHMID’s lease obligations primarily relate to rights to buildings mainly for its office, R&D and production premises as well as to leased vehicles. The carrying amounts of right-of-use assets recognized and the movements during the period were as follows: ​ ​ ​ ​ ​ ​ ​ ​ in € thousand Real Estate Vehicles Total 1/1/2022 1,207 306 1,513 Additions to right-of-use assets 144 336 480 Depreciation (430) (211) (642) Foreign exchange differences (15) (2) (17) 12/31/2022 906 428 1,334 Additions to right-of-use assets 8,402 178 8,581 Depreciation (543) (236) (779) Foreign exchange differences (68) (5) (73) 12/31/2023 8,697 365 9,063 ​ In December 2023, SCHMID signed a sale and leaseback contract with Schmid Grundstücke GmbH Co. KG, an entity controlled by Mrs. Schmid, for production facility and office buildings in Freudenstadt. The purchase price is €11,400 thousand. The lease term is 10 years. There is an extension option that can be exercised by the lessee 12 months before the end of the term. SCHMID can extend the lease term three times by 5 years each time. A lease payment of €100 thousand (excl. VAT) is due in advance each month. This resulted in an increase in the right-of-use asset in the amount of €7,092 thousand and a lease liability in the amount of €8,895 thousand. The gain on sale equals €507 thousand. As the sale and leaseback was concluded with a related party the rate implicit to the lease was used. For other leases SCHMID cannot readily determine the interest rate implicit in the leases, therefore, it uses its incremental borrowing rate (“IBR”) to measure lease liabilities. The IBR is the rate of interest that SCHMID would have to pay to borrow over a similar term, and with a similar security, the funds necessary to obtain an asset of a similar value to the right-of-use asset in a similar economic environment. The IBRs used by SCHMID are calculated based on the risk-free rate, individual country risk premiums of underlying country and credit spread. The weighted average IBR on December 31, 2023 is 6.03% (December 31, 2022: 5.49%). There are no variable lease payments resulting from indexed rental payments or other variable rental components. The carrying amounts of lease liabilities and the movements during the period were as follows: ​ ​ ​ ​ in € thousand Lease Liability 1/1/2022 1,528 Additions 433 Interest 68 Payments (676) Foreign exchange difference (19) 12/31/2022 1,333 Additions 10,347 Interest 102 Payments (819) Foreign exchange difference (77) 12/31/2023 10,886 ​ The combined statement of profit or loss and other comprehensive income (loss) included the following amounts of lease related expense: ​ ​ ​ ​ ​ ​ ​ ​ in € thousand 2023 2022 2021 Depreciation of right of-use-assets (779) (642) (487) Interest expense on lease liabilities (103) (68) (49) Short-term lease expenses (383) (523) (341) Lease expenses for low-value assets (7) (28) (68) Total amount recognized in expense (1,273) (1,260) (945) ​ The below table provides information on the total cash outflow from all leases during the year: ​ ​ ​ ​ ​ ​ ​ ​ in € thousand 2023 2022 2021 Principal paid (715) (609) (451) Interest paid (103) (68) (49) Short term and low value leases (391) (551) (409) Total amount paid (1,209) (1,227) (908) ​ The below table shows a maturity analysis of undiscounted lease payments for which a right-of-use asset and lease liability were recognized: ​ ​ ​ ​ ​ ​ in € thousand 12/31/2023 12/31/2022 ≤ 1 year 2,108 564 > 1 ≤ 2 years 1,928 465 > 2 ≤ 5 years 4,081 446 > 5 years 6,014 — Gross lease liabilities – minimum lease payments 14,130 1,476 Discount and foreign currency effects (3,244) 143 Present value of the lease liabilities 10,886 1,333 ​ Lessor accounting A part of the office and laboratories buildings located at the headquarter are leased to a related party under an operating lease with rent payable on a monthly basis. Lease income from the operating lease where SCHMID is a lessor is recognized in other income on a straight-line basis over the lease term. The lease income per month amounts to €10 thousand and does not include variable lease payments that depend on an index or rate. The lease contract was fixed until March 31, 2022 and is automatically renewed each year for another 12 months if none of the parties terminates the agreement. As a result, the minimum lease payments to be received are €115 thousand in 2023 (2022: €115 thousand, 2021: €115 thousand). The asset underlying the lease contract is included in property, plant and equipment. In addition, SCHMID is party to a sublease contract for an office building. SCHMID leases the office from a third party and subleases it to a related party. The lease-out is categorized as operating lease and has an indefinite lease term with a termination option for both parties of six months. The lease income per month amounts to €3 thousand and does not include variable lease payments that depend on an index or rate.

FINANCIAL ASSETS

FINANCIAL ASSETS	12 Months Ended
	Dec. 31, 2023
FINANCIAL ASSETS
FINANCIAL ASSETS	21. Non-current financial assets mainly comprise deposits for leased buildings.

INVENTORIES

INVENTORIES	12 Months Ended
	Dec. 31, 2023
INVENTORIES
INVENTORIES	22. ​ ​ ​ ​ ​ ​ in € thousand 12/31/2023 12/31/2022 Raw materials and supplies 4,386 5,513 Work in progress 6,038 11,098 Finished goods 5,928 8,419 Inventories 16,353 25,029 ​ In fiscal year 2023, write-downs of €1,052 thousand (2022: €833 thousand, 2021: €69 thousand) were recognized. Total reversals of impairment losses amounted to €83 thousand in the fiscal year 2023 (2022: €23 thousand, 2021: €1 thousand). The amount of inventories recognised as an expense during 2023 is €25,026 thousand (2022: €28,954 thousand, 2021: €9,293 thousand).

TRADE RECEIVABLES AND OTHER REC

TRADE RECEIVABLES AND OTHER RECEIVABLES	12 Months Ended
	Dec. 31, 2023
TRADE RECEIVABLES AND OTHER RECEIVABLES
TRADE RECEIVABLES AND OTHER RECEIVABLES	23. ​ ​ ​ ​ ​ ​ in € thousand 12/31/2023 12/31/2022 Trade receivables 40,626 40,593 Receivables from joint ventures 1,599 2,656 Other receivables 4,807 65,589 Total trade and other receivables 47,032 108,838 ​ Trade receivables have a residual term of less than one year. Receivables from joint ventures refer to SCHMID Avaco Korea, Co. Ltd and Schmid Energy Systems GmbH, an entity of the Arabian joint venture. The main driver for the decrease in the other receivables is the repayment of a shareholder loan receivable (remaining balance as of December 31, 2023: €107 thousand; December 31, 2022: €65,158 thousand). Other receivables as of year end 2023 include the receivable against Christian Schmid for the Silicon bonus payment (€ 4,700 thousand).

OTHER CURRENT ASSETS

OTHER CURRENT ASSETS	12 Months Ended
	Dec. 31, 2023
OTHER CURRENT ASSETS
OTHER CURRENT ASSETS	24. Other current non-financial assets are as follows: ​ ​ ​ ​ ​ ​ in € thousand 12/31/2023 12/31/2022 Advance payments on inventories 1,317 2,635 Restricted cash 89 1,049 Prepaid expenses 3,667 730 Contract assets — 401 Total other current non-financial assets 5,073 4,815 ​ Restricted cash refers to bank accounts that are used as securities for customer prepayments, mainly in China. In addition, the increase in prepaid expenses is due to the planned business combination with Pegasus.

CASH & CASH EQUIVALENTS

CASH & CASH EQUIVALENTS	12 Months Ended
	Dec. 31, 2023
CASH & CASH EQUIVALENTS
CASH & CASH EQUIVALENTS	25. Cash and cash equivalents include cash as well as deposits on bank accounts amounting of €5,710 thousand as of December 31, 2023 (December 31, 2022: €8,332 thousand).

EQUITY

EQUITY	12 Months Ended
	Dec. 31, 2023
EQUITY
EQUITY	26. Owners net investment represents the aggregation of the net assets of all entities that form the reporting entity of SCHMID. Other reserves comprise loss carried forward, net profit/loss for the year, remeasurement of defined benefit obligation and currency translation differences. Non-controlling interest contains the equity, profit/loss carried forward and currency translation differences relating to the minority shareholders of the Group. For details on the share option please refer to note 28. Financial Liabilities.

NON-CONTROLLING INTEREST

NON-CONTROLLING INTEREST	12 Months Ended
	Dec. 31, 2023
NON-CONTROLLING INTEREST
NON-CONTROLLING INTEREST	27. Non-controlling interests relate to SCHMID Singapore Pte. Ltd. (10.0%), SCHMID Technology Guangdong Co., Ltd. (STG) (24.1 %) and SCHMID Taiwan Ltd. (STL) (14.0 %). STG was founded by SCHMID in 2020 and is a manufacturer of printed circuit boards (“PCB”) and photovoltaics (“PV”) production equipment in China. In June 2021 SCHMID concluded an investor agreement with XJ Harbour HK Limited (“XJ”). By way of a unilateral capital increase XJ obtained 20.9% of the registered capital of STG. In 2021 a further capital increase was executed. For further information on potential capital increases please refer to note 28. Financial Liabilities. The following tables summarizes the information relating to each entity that has material NCI, before any intra-SCHMID eliminations. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ SCHMID ​ ​ ​ ​ ​ ​ ​ Technology ​ ​ ​ ​ ​ SCHMID ​ Guangdong Co., ​ SCHMID Taiwan ​ 12/31/2023 Singapore Pte. Ltd. Ltd Ltd. NCI percentage ​ 10.0 % 24.1 % 14.0 % Non-current assets ​ — ​ 5,118 ​ 185 Current assets ​ 2,797 ​ 42,569 ​ 11,827 Non-current liabilities — 847 605 ​ Current liabilities 2,062 22,288 5,182 ​ Net assets 736 24,552 6,224 ​ Net assets attributable to NCI 74 5,917 868 ​ Revenue — 27,750 1,672 ​ Profit 6,188 2,298 (402) ​ OCI — (1,550) (252) ​ Total comprehensive income 6,188 748 (654) ​ Total comprehensive income allocated to NCI 619 180 (91) ​ Accumulated NCI end of period 77 6,487 794 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ SCHMID ​ ​ ​ ​ ​ ​ ​ Technology ​ ​ ​ ​ ​ SCHMID ​ Guangdong Co., ​ SCHMID Taiwan ​ 12/31/2022 Singapore Pte. Ltd. Ltd Ltd. NCI percentage ​ 10.0 % 24.1 % 14.0 % Non-current assets ​ — ​ 4,575 ​ 71 Current assets ​ 1,651 ​ 46,040 ​ 12,704 Non-current liabilities — 568 694 ​ Current liabilities 7,104 26,244 5,203 ​ Net assets (5,453) 23,804 6,879 ​ Net assets attributable to NCI (545) 5,737 960 ​ Revenue — 38,753 12,873 ​ Profit (7) 6,068 4,152 ​ OCI — (639) (303) ​ Total comprehensive income (7) 5,429 3,849 ​ Total comprehensive income allocated to NCI (1) 1,308 537 ​ Accumulated NCI end of period (543) 6,335 889 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ SCHMID ​ ​ ​ ​ ​ ​ ​ Technology ​ ​ ​ ​ ​ SCHMID ​ Guangdong Co., ​ SCHMID Taiwan ​ 12/31/2021 Singapore Pte. Ltd. Ltd Ltd. NCI percentage ​ 10.0 % 24.1 % * 14.0 % Non-current assets ​ — ​ 4,876 ​ 197 Current assets ​ 1,698 ​ 23,857 ​ 4,993 Non-current liabilities — 841 66 ​ Current liabilities 7,144 9,518 2,095 ​ Net assets (5,445) 18,374 3,030 ​ Net assets attributable to NCI (545) 4,428 423 ​ Revenue — 9,762 3,954 ​ Profit (33) (13,359) 424 ​ OCI — 753 297 ​ Total comprehensive income (33) (12,606) 721 ​ Total comprehensive income allocated to NCI (3) (2,627) 101 ​ Accumulated NCI end of period (542) 5,026 352 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash flow statement SCHMID Technology Guangdong Co., Ltd in € thousand 2023 2022 2021 Cash flow from operating activities 666 (1,688) (11,650) Cash flow from investing activities (472) (502) (16,449) Cash flow from financing activities (21) (452) 32,313 Effect of foreign exchange rate changes on cash and cash equivalents (119) 116 93 Net increase (decrease) in cash and cash equivalents 262 (2,525) 4,307 ​

FINANCIAL LIABILITIES

FINANCIAL LIABILITIES	12 Months Ended
	Dec. 31, 2023
FINANCIAL LIABILITIES
FINANCIAL LIABILITIES	28. The following table shows an overview of the financial liabilities of SCHMID: ​ ​ ​ ​ ​ ​ in € thousand 12/31/2023 12/31/2022 Non-current financial liabilities 22,190 34,406 Current financial liabilities 26,053 128,454 Total financial liabilities 48,244 162,860 ​ The following table presents details on SCHMID’s borrowings. ​ ​ ​ ​ ​ ​ in € thousand 12/31/2023 12/31/2022 Non-current borrowings 22,190 34,406 Loans from debt funds — 24,393 Loans from other third parties 2,336 — Loans from shareholders 19,854 10,013 Current borrowings 26,053 128,454 Loans from banks 1,225 12,003 Loans from debt funds — 79,773 Loans from other third parties — 3,540 Loans from shareholders 8,102 16,493 Loans from other related parties 16,726 16,646 Total borrowings 48,244 162,860 ​ Loans from debt funds The loans from debt funds line item consisted of five loans received from two private debt funds. In 2023, SCHMID repaid all loans from debt funds. For further details see note 5. Significant Events in the Period ended December 31, 2023 Loans from banks During 2023, three loans from banks have been repaid. As of December 31, 2023, SCHMID has two loans from banks. Loans from other third parties Loans from other third parties mainly consist of loans from two individuals that are not related to SCHMID. In August 2023, one of the third party loans amounting to €1,234 thousand has been repaid. The other loan carries a floating interest rate of EURIBOR plus 3 % margin and had initial term of two years Loans from shareholders The shareholders provided loan facilities of €15 million and €11 million in 2016. At the end of 2016, both shareholders waived part of their claims (€5 million). As the waivers are with debtor warrants, the claims will revive once a certain equity ratio is reached. As of December 31, 2023, SCHMID did not reach the equity ratio, but is expecting to reach the equity ratio within the next year. As a result, for both events the carrying amount was adjusted by recording the change in carrying amount in interest expense. The new carrying amount reflects the new estimated cash flows discounted with the original effective interest rate. For the remaining €19,854 million the shareholders declared their claims as subordinated to all other liabilities of SCHMID to ensure that the satisfaction of their claims will not lead to an over-indebtedness. Interest is floating at EURIBOR plus 1% margin, whereby EURIBOR is floored at 0.25%. Loans from other related parties The loans from related parties are provided by key management personnel and Schmid Grundstücke GmbH & Co. KG, which is an entity controlled by a related party. For further details please refer to note 35. Related Party Disclosures. Share option In 2021 SCHMID entered into an agreement with an Investor to obtain a shareholding in the entity SCHMID Technology (Guangdong) Co. Ltd. (STG). In the investment agreement, it was agreed that the investor acquire 20.9% of the ownership in STG for €25.0 million in a first step and at the same time SCHMID grants the investor the right to acquire further shares at two occasions. In December 2021 the investor acquired a further 3.2% of the shares in STG for a predetermined price of €5.0 million. In addition, the investor had the right to increase its ownership in STG by a further 5.6% after June 30, 2022. The price of those shares is dependent on the achievement of a certain revenue target and will be adjusted if the target is not met. As not all capital increases had been executed as of the year-ended 2021 an embedded derivative was recognized under IFRS 9. Given the positive development of the entity a derivative liability was recognized as of year-end 2021 and during 2022. At year-end 2022 the pre-defined time frame for the revenue target ended at which time the price for the shares was fixed. As the fixed-for-fixed criteria for classification as equity was fulfilled at this time, the derivative liability was reclassified to Owners Net Investment at its fair value. Despite the fact that the price became fixed at the end of 2022 the Investor has not transferred the additional required investment. In 2024 a new agreement was signed. For further details please refer to note 36. Events after the Reporting Period. For the years ended 2023 and 2022 the minority investment was treated as non-controlling interest according to IFRS 10.26

OTHER PROVISIONS

OTHER PROVISIONS	12 Months Ended
	Dec. 31, 2023
OTHER PROVISIONS
OTHER PROVISIONS	29. Movement in provisions during the year is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Reversal of ​ ​ ​ ​ ​ ​ ​ ​ ​ unused ​ ​ In € thousand ​ 12/31/2022 ​ Additions ​ Utilization ​ amounts ​ 12/31/2023 Warranty provision 211 211 (184) — 238 Jubilee provision 119 482 (603) — (2) Total non-current provisions 330 693 (787) — 237 Warranty provision 139 152 (66) — 225 Provision for legal claims 67 44 — (58) 53 Other provisions 153 2,308 (1,454) (312) 695 Total current provisions 360 2,504 (1,520) (370) 973 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Reversal of ​ ​ ​ ​ ​ ​ ​ ​ ​ unused ​ ​ In € thousand ​ 12/31/2021 ​ Additions ​ Utilization ​ amounts ​ 12/31/2022 Warranty provision 203 99 (91) — 211 Jubilee provision 163 (30) (14) — 119 Total non-current provisions 366 70 (106) — 330 Warranty provision 228 25 (114) — 139 Provision for legal claims 32 123 (88) — 67 Other provisions 191 7 (45) — 153 Total current provisions 451 155 (247) — 360 ​

POST-EMPLOYMENT BENEFITS

POST-EMPLOYMENT BENEFITS	12 Months Ended
	Dec. 31, 2023
POST-EMPLOYMENT BENEFITS
POST-EMPLOYMENT BENEFITS	30. Defined contribution plans SCHMID’s expenses for defined contribution plans were €1,677 thousand for the year ended 2023 (2022: €1,552 thousand, 2021: €1,528 thousand). No assets or liabilities are recognized in SCHMID’s balance sheet in respect of such plans, apart from regular prepayments and accruals of the contributions withheld from employees’ wages and salaries and of SCHMID’s contributions. Defined benefit plan Corporate post-retirement benefits are provided by SCHMID in Germany through a defined benefit plan with one beneficiary who is also a related party (please refer to 35. Related Party Disclosures). The beneficiary was granted a fixed pension commitment in 2012 as part of a deferred compensation agreement in form of a lump-sum payment in the event of invalidity or reaching the age of 67. The Company has no plan assets in connection with the pension obligation. The present value of the defined benefit obligation at the end of the fiscal year 2023 amounted to €894 thousand (December 31, 2022: €887 thousand, December 31, 2021: €1,173 thousand) Reconciliation of the net defined benefit liability: ​ ​ ​ ​ ​ ​ ​ ​ In € thousand 2023 2022 2021 Net defined liability at January 1 887 1,173 1,189 Defined benefit income recognized in combined statement of profit or loss 33 14 12 Defined benefit cost recognized in other comprehensive income — 300 28 Net defined liability at December 31 894 887 1,173 ​ Reconciliation of the amount recognized in the combined statement of financial position: ​ ​ ​ ​ ​ ​ ​ ​ In € thousand 2023 2022 2021 Employee benefit obligations recognized as of January 1 887 1,173 1,189 Actuarial adjustments (26) (300) (28) thereof: experience adjustments (2) 2 2 thereof: adjustments for financial assumptions (24) (302) (30) Interest expense 33 14 12 Employee benefit obligations recognized as of December 31 894 887 1,173 ​ The expense recognized in the combined statements of profit and loss and other comprehensive income is as follows: ​ ​ ​ ​ ​ ​ ​ ​ In € thousand 2023 2022 2021 Actuarial gains (-) / losses (+) deriving from changes in financial assumptions (24) (302) (30) Actuarial gains (-) / losses (+) deriving from experience adjustments (2) 2 2 Included in other comprehensive income (26) (300) (28) Interest income 33 14 12 Included in the combined statements of profit or loss 33 14 12 Total included in the combined statements of profit or loss and other comprehensive income (loss) 7 (286) (16) ​ The interest cost relating to the obligation is a component of the result from financing activities. The following were the principal actuarial assumptions as of: ​ ​ ​ ​ ​ ​ ​ ​ 12/31/2023 12/31/2022 Discount rate 4.00 % 3.75 % ​ Sensitivity Analysis The main actuarial assumption is used to calculate the provisions for post-employment benefits the discount rate. A reasonably possible increase, or respectively decrease, in the significant actuarial assumptions would have had the following impact on the present value of the post-employment benefit obligation as of the respective reporting dates: ​ ​ ​ ​ ​ ​ ​ ​ 12/31/2023 12/31/2022 Discount rate (+0.25%) 4.25 % 4.00 % Present value of the post-employment benefit obligations (in € thousand) 872 862 ​ Discount rate (-0.25%) 3.75 % 3.50 % Present value of the post-employment benefit obligations (in € thousand) 918 912 ​ ​ Duration The duration of the obligation is 12 years as of December 31,2023 (December 31, 2022: 13 years).

OTHER CURRENT LIABILITIES

OTHER CURRENT LIABILITIES	12 Months Ended
	Dec. 31, 2023
OTHER CURRENT LIABILITIES
OTHER CURRENT LIABILITIES	31. Other non-financial liabilities are as followed: ​ ​ ​ ​ ​ ​ in € thousand 12/31/2023 12/31/2022 Personnel related accruals 3,175 2,700 Tax related accruals 1,348 1,481 Audit related accruals 1,297 286 Miscellaneous other current liabilities 7,294 4,239 Total other current liabilities 13,113 8,706 ​ In 2023 miscellaneous other non-financial liabilities include outstanding invoices for legal and consulting fees amounting to €2,707 thousand, installation and transportation costs amounting to €1,344 thousand as well as various smaller items.

FINANCIAL INSTRUMENTS AND FINAN

FINANCIAL INSTRUMENTS AND FINANCIAL RISK MANAGEMENT	12 Months Ended
	Dec. 31, 2023
FINANCIAL INSTRUMENTS AND FINANCIAL RISK MANAGEMENT
FINANCIAL INSTRUMENTS AND FINANCIAL RISK MANAGEMENT	32. Carrying Amounts and Fair Values The following tables disclose the carrying amounts of each class of financial instruments together with its corresponding fair value and the aggregated carrying amount per category. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 12/31/2023 Financial instruments, analyzed by classes and categories ​ ​ ​ Carrying ​ ​ ​ Fair value in € thousand ​ Category ​ amount ​ Fair value ​ hierarchy Non-current assets Financial assets Other loans and other investments AC 28 28 n/a Other non-current financial assets AC 112 n/a n/a ​ ​ ​ ​ ​ ​ ​ ​ ​ Current assets Trade receivables and other receivables Trade receivables AC 40,673 n/a n/a Receivables from joint ventures AC 1,599 n/a n/a Other receivables Exit bonus AC 4,700 4,700 n/a Receivables from shareholder AC 107 n/a n/a Other current assets Restricted cash AC 89 n/a n/a Other AC 1,317 n/a n/a Cash and cash equivalents AC 5,710 n/a n/a ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-current liabilities Non-current borrowings Loans from other third parties FLAC 2,336 2,063 Level 3 Loans from shareholders FLAC 19,854 17,630 Level 3 ​ ​ ​ ​ ​ ​ ​ ​ ​ Current liabilities Current borrowings Loans from banks FLAC 1,225 n/a Level 3 Loans from shareholders FLAC 8,102 n/a n/a Loans from other related parties FLAC 16,726 n/a Level 3 Trade payables and other liabilities FLAC 25,899 n/a n/a ​ ​ ​ ​ ​ ​ ​ ​ ​ Carrying Thereof aggregated by categories ​ Category ​ amount Financial assets measured at amortized cost AC 54,335 Financial liabilities measured at fair value FVTPL — Financial liabilities measured at amortized cost FLAC 74,142 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Financial instruments, analyzed by classes and categories ​ 12/31/2022 ​ ​ ​ ​ Carrying ​ ​ ​ Fair value in € thousand ​ Category ​ amount ​ Fair value ​ hierarchy Non-current assets ​ ​ ​ ​ Financial assets Other non-current financial assets AC 115 n/a n/a ​ ​ ​ ​ ​ ​ ​ ​ ​ Current assets Trade receivables and other receivables Trade receivables AC 40,593 n/a n/a Receivables from joint ventures AC 2,656 n/a n/a Other receivables Receivables from shareholder AC 65,158 64,028 Level 3 Miscellaneous receivables AC 431 n/a n/a Other current assets Restricted cash AC 1,049 n/a n/a Other AC 2,637 n/a n/a Cash and cash equivalents AC 8,332 n/a n/a ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-current liabilities Non-current borrowings Loans from debt funds FLAC 24,393 23,072 Level 3 Loans from shareholders FLAC 10,013 9,307 Level 3 ​ ​ ​ ​ ​ ​ ​ ​ ​ Current liabilities Current borrowings Loans from banks FLAC 12,003 11,508 Level 3 Loans from debt funds FLAC 79,773 51,678 Level 3 Loans from other third parties FLAC 3,540 3,483 Level 3 Loans from shareholders FLAC 16,493 n/a n/a Loans from other related parties FLAC 16,646 14,688 Level 3 Trade payables and other liabilities FLAC 25,400 n/a n/a ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Carrying Thereof aggregated by categories Category amount Financial assets measured at amortized cost ​ AC ​ 120,971 Financial liabilities measured at fair value FVTPL — Financial liabilities measured at amortized cost FLAC 188,260 ​ The carrying amounts of cash and cash equivalents, trade and other receivables, loans from banks and of trade payables, are considered reasonable estimates of their fair values because of the short maturities of these items. The fair value of the loan granted to a shareholder was calculated by discounting future cash flows with a risk-adjusted interest rate curve. As the credit risk of the shareholder is unobservable and assumed to be equivalent to the Standard&Poor’s rating class of CCC, the credit risk is considered to have a material impact on the fair value. Therefore, the fair values of the shareholder loan are categorized in level 3 of the fair value hierarchy. Items of income, expenses, gains or losses resulting from financial instruments The net gains or losses for each of the financial instrument measurement categories differentiated by the respective sources were as follows: ​ ​ ​ ​ ​ ​ ​ ​ 2023 Subsequent measurement in € thousand ​ Interest Fair value Total Financial assets - AC 9,499 n/a 9,499 Financial liabilities - FLAC (9,988) n/a (9,988) Financial assets and liabilities - FVTPL n/a — — Total (488) — (488) ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 Subsequent measurement in € thousand ​ Interest Fair value Total Financial assets - AC 4,089 n/a 4,089 Financial liabilities - FLAC (17,650) n/a (17,650) Financial assets and liabilities - FVTPL n/a (1,669) (1,669) Total (13,561) (1,669) (15,230) ​ The total interest income for financial assets that are not measured at FVTPL is €9,499 thousand as of the year ended December 31, 2023 (2022: €4,089 thousand). The total interest expense for financial liabilities that are not measured at FVTPL is €9,988 thousand as of the year ended December 31, 2023 (2022: €17,650 thousand). Financial Instrument Risk Management Objectives and Policies Due to its international operational businesses, SCHMID is exposed to market risk (especially foreign currency risk) and credit risk. In the area of financing, liquidity risks and interest rate risks play a major role. SCHMID’s senior management oversees the management of these risks. In prior years no formalized risk management system existed, but financial risks as far as identified were handled case-by-case. In connection with the US DE-SPAC SCHMID is currently implementing a standardized risk management process. Equity price risk is considered insignificant for SCHMID. Credit Risk Credit risk is the risk that SCHMID might incur a financial loss as a consequence of the non-payment or partial payment of outstanding receivables by counterparties and from replacement risks for open transactions. SCHMID is exposed to credit risks associated with its operating activities, the loan granted to one of its shareholders, trade receivables as well as cash and cash equivalents. SCHMID applies appropriate measures to manage credit risks inherent to its trade receivables. SCHMID requests customer ratings from well-known rating agencies and responds to higher probabilities of default with modified payment terms. Loss rates are based on actual credit loss experience over the past seven years. These rates are multiplied by scalar factors to reflect differences between economic conditions during the period over which the historical data has been collected, current conditions and SCHMID’s view of economic conditions over the expected lives of the receivables. Until January 1, 2023, to limit the credit risk resulting from its trade receivables, SCHMID has entered into a credit risk insurance that covered all trade receivables besides a small deductible. For the resulting credit risk of the insurance company SCHMID applied the credit default swap spread to the insured trade receivables amount. For the remaining credit risk of the uninsured part of the trade receivables a probability of default for the industry is applied to the exposure and multiplied with the loss given default. The allowances for ECL determined for the different classes of financial assets developed as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Trade receivables ​ ​ ​ Shareholder and ​ ​ - not credit ​ Trade receivables ​ other loans - in € thousand impaired - credit impaired credit impaired Opening Balance 01/01/2022 ​ (8) ​ 1,952 ​ (4,394) Additions ​ (11) ​ — ​ — Utilization — 1,148 — Reversal — 153 2,949 Closing Balance 31/12/2022 (19) 652 (1,445) Additions (118) (198) — Utilization — (11,425) — Reversal — 11,706 1,445 Closing Balance 31/12/2023 (137) (569) — ​ With regards to cash and cash equivalents SCHMID allocates the credit risk by using several banks. Furthermore, it is SCHMID policy to hold cash and cash equivalents only with financial institutions that have at least an investment grade rating. SCHMID regularly monitors its cash and cash equivalents and takes corrective actions should it identify any possible changes in creditworthiness of these financial institutions. Therefore and due to its short-term character, no significant credit risk arises from cash and cash equivalents, and no ECL allowance has been recorded for 2023 and 2022 respectively. The following tables provide information about the gross carrying amounts by credit-risk rating classes for the several types of financial assets that are not measured at FVTPL and therefore generally subject to the impairment regulations of IFRS 9. ​ ​ ​ ​ ​ ​ ​ ​ Gross Carrying Amounts by Rating Class ​ 12/31/2023 in € thousand ​ Stage 1 ​ Stage 2 ​ Stage 3 General approach Cash and cash equivalents AAA to BBB (Investment grade) 5,710 — — Receivables from shareholders BBB- to CCC (Below investment grade) — 4,807 — Simplified approach Trade receivables and other receivables Current (not past due) — 27,148 (69) 1-30 days past due — 1,423 (11) 31-60 days past due — 597 (6) 61-90 days past due — 651 (7) More than 90 days past due — 3,039 (45) Total 5,710 37,665 (138) ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross Carrying Amounts by Rating Class ​ 12/31/2022 in € thousand ​ Stage 1 ​ Stage 2 ​ Stage 3 General approach Cash and cash equivalents AAA to BBB (Investment grade) 8,332 — — Receivables from shareholders BBB- to CCC (Below investment grade) — 65,158 — Simplified approach Trade receivables and other receivables insured receivables (90%) — 39,312 — non-insured receivables (10%) — 4,368 — Total 8,332 108,838 — ​ Liquidity Risk Liquidity risk is the risk that a company will encounter difficulty in meeting its obligations associated with its financial liabilities as they fall due. SCHMID is constantly working to ensure that the supply of liquidity is mainly sufficient to settle financial liabilities that are due for payment. Liquidity is evaluated and maintained using forecasts based on fixed planning horizons covering several months and through the cash and cash equivalent balances that are available. During 2023, the majority of financial liabilities has been repaid. For more detail on the financial situation, please refer to the explanation on Going Concern (included in note 2. Basis of Presentation). The following table provides details of the (undiscounted) cash outflows of financial liabilities (including interest payments). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 12/31/2023 ​ ​ Cash outflows within ​ Total cash in € thousand ​ ≤ 1 year > 1 ≤ 2 years > 2 ≤ 5 years > 5 years flows Lease liabilities ​ 2,073 ​ 1,822 ​ 3,372 ​ 3,758 ​ 11,025 Borrowings (including embedded derivatives) 26,053 26,781 — — 52,835 Loans from banks 1,225 — — — 1,225 Loans from debt funds — — — — — Loans from other third parties — 2,778 — — 2,778 Loans from shareholders 8,102 24,004 — — 32,106 Loans from other related parties 16,726 — — — 16,726 Trade payables and other liabilities 25,899 — — — 25,899 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 12/31/2022 ​ ​ Cash outflows within ​ Total cash in € thousand ​ ≤ 1 year > 1 ≤ 2 years > 2 ≤ 5 years > 5 years flows Lease liabilities ​ 564 ​ 465 ​ 446 ​ — ​ 1,476 Borrowings (including embedded derivatives) 111,517 49,914 — — 161,432 Loans from banks 12,221 — — — 12,221 Loans from debt funds 73,262 26,521 — — 99,783 Loans from other third parties 3,702 — — — 3,702 Loans from shareholders 5,000 23,394 — — 28,394 Loans from other related parties 17,332 — — — 17,332 Trade payables and other liabilities 25,400 — — — 25,400 ​ Foreign Currency Risk SCHMID operates globally and is exposed to foreign exchange risk arising from exposure to various currencies in the ordinary course of business. SCHMID’s exposures primarily consist of the Euro (“EUR”), US Dollar (“USD”), Chinese Yen (“CNY”), Hong Kong Dollar (“HKD”), Korean Won (“KRW”) and Canadian Dollar (“CAD”). Foreign exchange risk mainly arises from commercial transactions that resulted in recognized financial assets and liabilities denominated in a currency other than the local functional currency. The following table demonstrates the material net exposures SCHMID entities have due to trade receivables and payables, cash and cash equivalents as well as other financial assets in a currency different their local functional currency. Due to consolidation these exposures would also have an impact to SCHMID’s profit or loss. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ currency of exposure ("+" = asset / "()" = liability) - in € thousand functional currency entity 12/31/2023 12/31/2022 ​ EUR CNY USD HKD ​ ​ EUR CNY USD HKD EUR ​ ​ ​ 5,010 3,597 — ​ ​ ​ 5,500 4,669 — CNY ​ 27,217 ​ ​ (1,077) (424) ​ 25,519 ​ ​ (1,139) — USD ​ 17 — ​ ​ — ​ (5,030) — — TWD ​ 1,481 (238) — — ​ 1,378 — — — HKD ​ 2,026 (2,209) — ​ ​ ​ — — — KRW ​ (4,276) — — — ​ (1,838) — — — Total ​ 26,464 2,563 2,520 (424) ​ 20,029 5,500 3,530 — ​ The following table demonstrates the impact that a reasonably possible change in each material currency pair would have on SCHMID’s profit or loss before tax. Therefore for each currency exchange rate the foreign currency is shifted against the respective local entity’s functional currency. The resulting impact in local currency is then translated into EUR. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ in € thousand 12/31/2023 ​ 12/31/2022 ​ ​ +10% -10% +10% -10% CNY/EUR 2,019 (2,467) ​ ​ 1,820 (2,224) USD/EUR (325) 398 ​ ​ (882) 1,078 TWD/EUR 135 (165) ​ ​ 130 (159) HKD/EUR 184 (225) ​ ​ KRW/EUR (389) 475 ​ ​ (167) 204 CNY/TWD 22 (26) ​ ​ CNY/HKD 158 (203) ​ ​ USD/CNY 98 (120) ​ ​ 104 (127) ​ Interest Rate Risk Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. Interest rate risks from financial instruments can in general arise in connection with financial liabilities including borrowings under SCHMID existing working capital and equipment financing facilities. Profit or loss is sensitive to higher/ lower interest income/ expense from loans granted and borrowed as a result of changes in interest rates. Considering existing thresholds, a hypothetical reasonable increase or decrease of 100 basis points in interest rates would have the following effect shown in the table on SCHMID financial statements. ​ ​ ​ ​ ​ Impact to P/L in € thousand ​ (income (+)/ expense (-)) 12/31/2023 Change in interest rate +1% ​ (296) Change in interest rate -1% ​ 296 12/31/2022 ​ Change in interest rate +1% ​ (1,164) Change in interest rate -1% ​ 1,162 ​ Capital Management For the purpose of SCHMID’s capital management, capital includes all share capital and other equity reserves attributable to the equity holders. The primary objectives of capital management are to support operating activities and maximize the shareholder value through investment in the development activities of SCHMID. SCHMID’s finance department reviews the total amount of cash of SCHMID on a monthly basis. As part of this review, management considers the total cash and cash equivalents, the cash outflow, currency translation differences and funding activities. The Company is not anymore subject to externally imposed capital requirements as all relevant loans have been repaid during 2023, refer to note 28. Financial Liabilities for further details. No changes were made in the objectives, policies or processes for managing cash during the years ended December 31, 2023 and 2022. Reconciliation of changes in liabilities arising from financing activities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Lease ​ In € thousand Loans liabilities Total Balance at January 1, 2023 167,111 1,333 168,444 Cash flow from financing activities (excluding changes from restricted cash) (83,812) (819) (84,631) Proceeds from loans — — — Repayments of loans (81,871) — (81,871) Principal elements of lease payment — (715) (715) Interest paid (1,941) (103) (2,044) Changes in the cash flow from financing activities (35,055) 10,372 (24,683) Foreign currency effects — (77) (77) New leases — 10,347 10,347 Accrued interest (35,024) 102 (34,922) Fair value measurement (32) — (32) Balance at December 31, 2023 48,244 10,886 59,130 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Lease ​ In € thousand ​ Loans ​ liabilities ​ Total Balance at January 1, 2022 153,090 1,528 154,618 Cash flow from financing activities (excluding changes from restricted cash) (2,625) (676) (3,301) Proceeds from loans 4,895 — 4,895 Repayments of loans (5,880) — (5,880) Principal elements of lease payment — (609) (609) Interest paid (1,640) (68) (1,708) Changes in the cash flow from financing activities 16,645 482 17,127 Foreign currency effects — (19) (19) New leases — 433 433 Accrued interest 14,609 68 14,677 Fair value measurement 2,036 — 2,036 Balance at December 31, 2022 167,111 1,333 168,444 ​

EQUITY-ACCOUNTED INVESTEES

EQUITY-ACCOUNTED INVESTEES	12 Months Ended
	Dec. 31, 2023
EQUITY-ACCOUNTED INVESTEES
EQUITY-ACCOUNTED INVESTEES	33. Set out below are the investments of SCHMID classified as joint ventures as at December 31, 2023 and 2022. The entities listed below have share capital consisting solely of ordinary shares, which are held directly by SCHMID. The proportion of ownership interest is the same as the proportion of voting rights held. All the entities are private, no quoted prices are available. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ % of ownership interest ​ Carrying amount (in € thousand) Name of the entity Country of incorporation 12/31/2023 12/31/2022 12/31/2023 12/31/2022 Advanced Energy Storage Systems Investment Company (AES) ​ Kingdom of Saudi Arabia ​ 51 % 51 % ​ — ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ SCHMID AVACO Korea Co. Ltd. (SAK) South Korea 50 % 50 % ​ — — Total equity-accounted investments ​ — — ​ The two entities are joint ventures and both are accounted for applying the equity method. (1) Advanced Energy Storage Systems Investment Company (AES), Saudi Arabia is a joint venture of Nusaned Investment (an investment company owned by SABIC) and SCHMID manufacturing and focuses on technology development in the field of vanadium redox flow batteries (VRFB). (2) SCHMID AVACO Korea Co. Ltd. (SAK), South Korea is a company that specializes in the manufacture of electrical and electronic components. The company produces a wide range of products such as printed circuit boards, connectors, and wiring harness systems for various industries including automotive, electronics, telecommunications, and medical technology. The following tables provide financial information on the joint venture Advanced Energy Storage Systems Investment Company (AES) which is material to SCHMID. The information disclosed reflects the amounts presented in the financial statements of the joint venture and not SCHMID’s share of those amounts. ​ ​ ​ ​ ​ ​ ​ in € thousand 12/31/2023 12/31/2022 % ownership interest ​ 51.3 % 51.3 % Current Assets ​ ​ Cash and cash equivalents 16 ​ 1,144 ​ Other current assets 22 ​ 342 ​ Total current assets 38 ​ 1,486 ​ ​ ​ ​ ​ ​ ​ Non-current assets 3,871 ​ 6,134 ​ ​ ​ ​ ​ ​ ​ Current liabilities ​ ​ Current financial liabilities 2,935 ​ 2,015 ​ Other current liabilities 216 ​ 4,214 ​ Total current liabilities 3,151 ​ 6,229 ​ ​ ​ ​ ​ ​ ​ Non-current liabilities ​ ​ Non-current financial liabilities — ​ 9,177 ​ Other non-current liabilities 3,894 ​ 957 ​ Total non-current liabilities 3,894 ​ 10,134 ​ ​ ​ ​ ​ ​ ​ Net assets (100%) (3,136) ​ (8,742) ​ Book value — ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ in € thousand 2023 2022 % ownership interest ​ 51.3 % 51.3 % Revenue — ​ — ​ Interest income — ​ — ​ Administration expense (221) ​ — ​ R&D and Other expense (351) ​ — ​ Depreciation and amortization (561) ​ (1,106) ​ Interest expense — ​ (292) ​ Tax income 61 ​ 236 ​ Loss from continuing operations (1,025) ​ (3,750) ​ Other comprehensive income — ​ 181 ​ Total comprehensive loss (1,025) ​ (3,932) ​ Dividends received — ​ — ​ ​

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2023
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES	34. As of December 31, 2023, the Company has commitments of €62 thousand (December 31, 2022: €1,086 thousand) to acquire items of property, plant & equipment.

RELATED PARTY DISCLOSURES

RELATED PARTY DISCLOSURES	12 Months Ended
	Dec. 31, 2023
RELATED PARTY DISCLOSURES
RELATED PARTY DISCLOSURES	35. SCHMID is jointly controlled by Christian Schmid and Anette Schmid via direct shareholding and a community of heirs. Christian Schmid is also the CEO of the Company. For further information on the sale and leaseback contract, signed in December 2023 with Schmid Grundstücke GmbH Co. KG, an entity controlled by Mrs. Schmid, for production facility and office buildings in Freudenstadt, refer to note 20. Leases. Transactions with Key Management Key management personnel are defined as those persons who are responsible for SCHMID´s worldwide operating business, based on their function within SCHMID or the interests of SCHMID. The following individuals belong or belonged to SCHMID´s key management: ​ ​ ​ ​ ​ ​ Name Function Member of key management since/until Markus Fröhlich ​ CRO ​ since summer 2021 Julia Natterer ​ CFO ​ since December 2021 Laurent Nicolet ​ Executive Asia Region ​ since May 2006 Helmut Rauch ​ COO ​ since August 1994 Ulrich Wein ​ Vice president Finance ​ until January 2022 ​ The annual remuneration and related compensation costs recognized as expense during the reporting period only includes short-term employee benefits and amounts to €1,562 thousand in 2023 (2022: €1,262 thousand, 2021: €1,332 thousand). Short-term benefits include salaries, bonus, and other benefits such as medical, death and disability coverage, Company car and other usual facilities as applicable. The outstanding balances also include the liability in connection with the defined benefit obligation. ​ Transactions with related parties In addition to the entities included in the combined financial statements (see note 2. Basis of Presentation), SCHMID maintains relationships with other related parties. Related parties comprise the following entities (not individuals): ​ ​ ​ Company Relationship Schmid Grundstücke GmbH & Co. KG ​ Jointly controlled by shareholders Schmid Verwaltungs GmbH, Freudenstadt ​ Controlled by one shareholder Schmid Silicon Technology Holding GmbH , Freudenstadt ​ Controlled by one shareholder (until June 2023) Schmid Silicon Technology GmbH, Freudenstadt ​ Controlled by one shareholder (until June 2023) SILIQN GmbH, Freudenstadt ​ Controlled by one shareholder Schmid Polysilicon Production GmbH, Spreetal ​ Controlled by one shareholder Schmid Energy Systems GmbH, Freudenstadt ​ Entity of Joint venture Advanced Energy Storage Systems Investment Company, Saudi Arabia ​ Joint venture SCHMID Avaco Korea, Co. Ltd., Korea ​ Joint venture ​ The following transactions are proceeded with related parties. ​ ​ ​ ​ ​ ​ ​ ​ in € thousand 2023 2022 2021 Interest income on loans granted to Shareholder 1,077 526 159 ​ ​ ​ ​ ​ ​ ​ Interest expense on loans received from Key management personnel 12 88 88 Other related parties 558 409 400 Shareholder 737 165 53 ​ ​ ​ ​ ​ ​ ​ Purchases of goods or services Joint ventures 3 2,511 20 Other related parties 236 663 618 ​ ​ ​ ​ ​ ​ ​ Sale of goods or services Joint ventures 427 505 817 Other related parties 11,801 592 797 ​ ​ ​ ​ ​ ​ ​ Salary and Bonus Shareholder 1,149 988 910 Key management personnel 1,562 1,262 1,332 ​ ​ ​ ​ ​ ​ ​ in € thousand 12/31/2023 12/31/2022 Outstanding balances - Liabilities Shareholder 24,102 24,064 Key management personnel 280 2,528 Joint ventures 358 358 Other related parties 25,359 15,345 ​ ​ ​ ​ ​ ​ ​ ​ in € thousand 12/31/2023 12/31/2022 Outstanding balances - Receivables Shareholder 107 67,926 Joint ventures 2,655 951 Other related parties 221 23,062 ​ The significant increase in Sale of goods or services as well as in Outstanding balances - Liabilities in 2023 are mainly due to the sale and leaseback transaction (for further information please refer to 20. Leases) ​

EVENTS AFTER THE REPORTING PERI

EVENTS AFTER THE REPORTING PERIOD	12 Months Ended
	Dec. 31, 2023
EVENTS AFTER THE REPORTING PERIOD
EVENTS AFTER THE REPORTING PERIOD	36. Business combination Saudi Arabia In October 2023, the shareholders, Nusaned Investment (an investment company owned by SABIC) and SCHMID, mutually agreed to terminate the joint venture Advanced Energy Storage Systems Investment Company (Saudi Arabia) via share exchange. After closing of the transaction on January 1 2024, SCHMID owns 100% of the shares of Schmid Energy Systems GmbH (SES), the only subsidiary owned by the joint venture entity. SCHMID transferred its shares in AES to SABIC and in exchange AES transferred its shares in SES to SCHMID. The transaction falls under the scope of IFRS 3. As SCHMID obtains control over SES through an increase in it´s equity shareholdings in SES the transaction is treated as as step acquisition in accordance with IFRS 3.41. As the closing of the transaction occurred only recently, the Company has not yet completed the evaluation of the final consideration transferred and performed the detailed purchase price allocation analysis necessary to derive the required estimates of the fair value of the acquired assets and liabilities assumed. ​ Signing of the XJ repurchase agreement SCHMID concluded an agreement with XJ Harbour HK Limited to exchange XJ Harbour HK Limited’s minority interest in SCHMID’s Chinese subsidiary for TopCo shares and €30 million in cash payments over a 455 day period after the closing of the Business Combination. The first €10 million payment will come due at the closing of the Business Combination. ​ Closing Business Combination SCHMID Group and Pegasus Digital Mobility Acquisition Corp. announced the completion of their business combination. As a result, starting April 30, 2024 the existing company’s legal name is SCHMID Group N.V. SCHMID Group N.V. shares started trading on the Nasdaq Global Select Market under the ticker symbol “SHMD”. SCHMID signed non-redemption and investment agreement for approximately USD 26 million in committed capital with the business combination (before costs). ​

MATERIAL ACCOUNTING POLICIES (P

MATERIAL ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2023
MATERIAL ACCOUNTING POLICIES
Business combination	Business combination The acquisition method of accounting is used to account for all business combinations, regardless of whether equity instruments or other assets are acquired. The consideration transferred for the acquisition of a subsidiary comprises the: ● fair values of the assets transferred ● liabilities incurred to the former owners of the acquired business ● equity interests issued by the group, and ● fair value of any asset or liability resulting from a contingent consideration arrangement, Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are, with limited exceptions, measured initially at their fair values at the acquisition date. The Company recognises any non-controlling interest in the acquired entity on an acquisition-by-acquisition basis either at fair value or at the non-controlling interest’s proportionate share of the acquired entity’s net identifiable assets. Acquisition-related costs are expensed as incurred. The excess of the: ● consideration transferred ● amount of any non-controlling interest in the acquired entity, and ● acquisition-date fair value of any previous equity interest in the acquired entity over the fair value of the net identifiable assets acquired is recorded as goodwill. If those amounts are less than the fair value of the net identifiable assets of the business acquired, the difference is recognised directly in profit or loss as a bargain purchase. If the business combination is achieved in stages, the acquisition date carrying value of the acquirer’s previously held equity interest in the acquiree is remeasured to fair value at the acquisition date. Any gains or losses arising from such remeasurement are recognised in profit or loss.
Intangible assets	Intangible assets General Intangible assets are measured at cost upon initial recognition. In subsequent periods, intangible assets are recognized at cost less any accumulated amortization and impairment losses. Intangible assets with finite useful lives are amortized on a straight-line basis. The estimated (remaining) useful lives as well as the amortization method are subject to annual reviews. If necessary, adjustments due to changes of the expected useful life or of the amortization method are accounted for prospectively as changes in accounting estimates. Amortization expenses for intangible assets are included in cost of sales. Research and development (R&D) costs In accordance with IAS 38 (Intangible Assets), expenses incurred during the R&D phase must be accounted for separately. Research is defined as original and planned investigation undertaken with the prospect of gaining new scientific or technical knowledge and understanding. Such costs are expensed in the period incurred. Development is defined as the technical and commercial implementation of research findings. In accordance with IAS 38, development costs must be capitalized if the criteria set out in IAS 38.57 are fulfilled. The Company starts to capitalize costs when management board approval is obtained. The approval is only provided when it is ensured that adequate technical, financial and other resources are available to complete the project and that the Company intends to complete and use the intangible asset. Furthermore, prior to approval, the development project leader provides the management board with an overview of the future economic benefits based on external market studies and internal analysis, as well as the documentation of technical feasibility. The Company has an R&D controlling system in place which enables management to determine expenditures attributable to specific technologies during their development. The Company capitalizes costs for the development of a technology until the time that development of such technology is completed. The capitalized development costs are amortized on a straight-line basis over the economic useful life of 4–10 years based on the expected useful life of such technology. Amortization of capitalized development costs commences upon completion of the development project (technology). Intangible assets with indefinite useful lives or intangible assets not yet available for use are not amortized; however, they are tested for impairment annually and whenever there is an indication that the intangible asset may be impaired based on the individual asset or on the level of the related cash-generating unit. Patents and licenses Intangible assets acquired separately are measured on initial recognition at cost. Following initial recognition, intangible assets are carried at cost less any accumulated straight-line amortization and accumulated impairment losses. The useful life for patents and licenses is 5–8 years.
Borrowing costs	Borrowing costs General and specific borrowing costs that are directly attributable to the acquisition, construction or production of a qualifying asset are capitalized during the period of time that is required to complete and prepare the asset for its intended use or sale. Qualifying assets are assets that necessarily take a substantial period of time (> 12 months) to get ready for their intended use or sale. Other borrowing costs are expensed in the period in which they are incurred.
Impairment tests	Impairment tests At the end of each reporting period, SCHMID assesses whether there is an indication that an asset may be impaired. If any indication exists, or when annual impairment testing for an asset is required, SCHMID estimates the asset’s recoverable amount. The recoverable amount is determined for an individual asset, unless the asset does not generate cash inflows that are largely independent of those from other assets or groups of assets. An asset’s recoverable amount is the higher of an asset’s or cash generating unit (“CGU”)’s fair value less costs of disposal and its value in use. When the carrying amount of an asset or CGU exceeds its recoverable amount, the asset is considered impaired and is written down to its recoverable amount. In assessing value in use, the estimated future cash flows are 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. In determining fair value less costs of disposal, recent market transactions are taken into account. If no such transactions can be identified, an appropriate valuation model is used.
Property, Plant and Equipment	Property, Plant and Equipment Property, plant and equipment are measured at cost, net of accumulated depreciation and any accumulated impairment losses. Costs of construction capitalized include all attributable direct costs including material and production overheads , Subsequent expenditures on assets are capitalized only when it is probable that future economic benefits associated with the expenditure will flow to SCHMID. Repairs and maintenance are expensed in profit or loss in the period the costs are incurred. If items of property, plant and equipment are sold or disposed of, the gain or loss arising from the disposal is recognized as other operating income or expense in the combined statement of profit or loss and other comprehensive income (loss). Depreciation is calculated on a straight-line basis based on the following useful lives: ​ ​ ​ ​ ​ Useful life Buildings and building improvements 10 - 50 years Technical equipment and machinery 2 - 21 years Office and other equipment 3 - 13 years ​ The residual values, useful lives and methods of depreciation of property, plant and equipment are reviewed at each financial year end and adjusted prospectively, if appropriate.
Leases	Leases SCHMID’s lease obligations primarily relate to rights to buildings mainly for its office, R&D and production premises as well as to leased vehicles. As lease contracts are negotiated on an individual basis, lease terms contain a range of different terms and conditions. Lease contracts are typically entered for a period of 1–10 years. As a lessee, at the inception of a contract, SCHMID assesses whether the 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 in exchange for consideration. SCHMID recognizes right of use assets which represent a right to use the underlying leased assets and corresponding lease liabilities which represent the present value of future lease payments, excluding short-term leases (lease term of 12 months or less from commencement date and do not contain a purchase options) and leases of low value assets acquisition costs less than €6 thousand), in the combined statement of financial position at the date at which the leased asset is available for use. Liabilities arising from a lease are initially measured at present value of lease payments discounted using interest rate implicit in the lease or incremental borrowing rate in case interest rate implicit in the lease is not readily determinable. Main components of the lease payments included in the measurement of the lease liability comprise the following: ● fixed lease payments; ● variable lease payments that depend on an index or rate, initially measured using the index or rate as at the commencement date; ● lease payments in an optional renewal period if SCHMID is reasonably certain to exercise an extension option; ● non-lease components are not separated from lease components but accounted for as a single lease components. Lease payments contain principal elements and interest. Interest is presented as part of finance costs in the combined statements of profit and loss and other comprehensive income using the effective interest method. Principal and interest portion of lease payments have been presented within financing activities in the statement of cash flow. The carrying amount of lease liabilities is remeasured if there is change in the future lease payments due to change in index or rate. Right of use assets at the lease commencement date are measured at cost less any accumulated depreciation and impairment losses and adjusted for any remeasurement of lease liabilities recognized. Cost of right of use assets includes lease liabilities, initial direct costs, prepayments made on or before the commencement date and less any lease incentives received. 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 SCHMID by the end of the lease term or the cost of the right of use asset reflects that SCHMID 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. The right of use asset is assessed for impairment in case of a triggering event. Assets related to retirement obligations for leased buildings are included in the cost of right of use assets for the respective underlying building lease. If SCHMID acts as a lessor and the contract is classified as a finance lease, it is accounted for as a financing transaction. A receivable is valued at the amount of the net investment in the lease and the resulting interest income is recognized as income. The classification of a contract as an operating lease with SCHMID acting as the lessor means that the asset remains on SCHMID`s balance sheet. The income from it is recognized in the income statement over the term of the lease. The asset is amortized in accordance with the applicable IFRS standard, if necessary.
Sale and Leaseback Transaction	Sale and Leaseback Transaction When SCHMID sells its assets and leases them back, it needs to be determined whether the sales part of the transaction qualifies as a true sale according to IFRS 15. If the transfer of an asset does not meet the requirements of IFRS 15 to be recognized as a sale, the asset remains on the balance sheet, and a financial liability is recognized equal to the transfer proceeds in accordance with IFRS 9. In the case of a qualified sale, SCHMID measures the right of use asset arising from the leaseback at the proportion of the previous carrying amount of the asset that relates to the right of use retained. Consequently, SCHMID only recognizes any gain or loss that pertains to the rights transferred to the buyer-lessor. If the amount received for selling an asset is not the same as the value of the asset, or if the lease payments are not in line with market rates, SCHMID will make adjustments to ensure that the sale proceeds are measured at a fair value. If the lease terms are below market rates, the difference will be treated as a prepayment of future lease payments. Conversely, if the lease terms are above market rates, the excess amount will be considered as additional financing provided by the buyer-lessor to the seller-lessee (IFRS 16.101).
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents in the statement of financial position and statement of cash flows comprise cash at banks and short-term highly liquid deposits with original maturities of three months or less, that are readily convertible to a known amount of cash and subject to an insignificant risk of changes in value.
Financial Instruments	Financial Instruments Financial instruments are contracts that give rise to a financial asset for one entity and to a financial liability or equity instrument for another entity. SCHMID recognizes a financial instrument when it becomes a party to its contractual provisions. Purchases or sales of financial assets that require delivery of assets within a time frame established by regulation or convention in the marketplace (regular way trades) are recognized on the settlement date. Financial assets and financial liabilities are offset, and the net amount is reported in the combined statement of financial position if there is a currently enforceable legal right to set off the recognized amounts and there is an intention to settle on a net basis or to realize the assets and settle the liabilities simultaneously. SCHMID currently has no such assets and liabilities. Financial assets SCHMID’s financial assets include cash and cash equivalents, trade and other receivables as well as other financial assets. Other financial assets consist of a loan to one shareholder and other loans. Financial assets are initially measured at fair value plus, in the case of a financial asset not measured at fair value through profit or loss, transaction costs. As an exception of this general rule, trade receivables are measured at their transaction price. Financial assets are classified at initial recognition as either measured at amortized cost (“AC”), fair value through other comprehensive income (“FVOCI”), or fair value through profit or loss (“FVTPL”) depending on the contractual cash flows and SCHMID’s business model for managing them. For all financial assets SCHMID has the objective to hold financial assets in order to collect the contractual cash flows. If the contractual terms of the financial assets give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding, SCHMID will measure these financial assets at amortized cost under consideration of impairment (see following section). If the contractually agreed cash flows of a financial asset are not solely payments of principal and interest on principal amount outstanding, the respective financial asset has to be classified as measured at FVTPL. Currently all financial assets are measured at amortized cost that are determined by applying the effective interest rate (EIR) method. Effects resulting from impairment of financial assets that are not classified as FVTPL (including reversals of impairment losses on financial assets) are presented in a separate line item in profit or loss in accordance with IAS 1.82(ba), while changes in amortized cost due to the application of the EIR method are presented in finance income / expense. A financial asset is derecognized (i.e., removed from SCHMID’s combined statement of financial position) when the rights to receive cash flows from the financial asset have expired or have been transferred and SCHMID has transferred substantially all risks and rewards of ownership. Impairment of financial assets – expected credit losses (“ECLs”) All financial assets subsequently measured at amortized cost are required to be impaired at initial recognition in the amount of their expected credit loss (“ECL”). ECLs are based on the difference between the cash flows due in accordance with the contract and all the cash flows that SCHMID expects to receive. ECLs are a probability-weighted estimate of credit losses. For trade receivables with no significant financing component SCHMID applies the simplified approach as required by IFRS 9, which requires lifetime ECLs to be recognized from initial recognition of the receivables instead of monitoring the development of the customers’ credit risk. As a result, trade receivables are clustered into stage 2. In case of objective evidence of impairment, trade receivables have to be clustered into stage 3. The ECL for the uninsured proportion of the trade receivables is based on the probability of default of its customers provided by an external source. For cash and cash equivalents advantage is taken of the simplification available for financial instruments with a low credit risk (“low credit risk exemption”) as of the reporting date. Factors that can contribute to a low credit risk assessment are debtor-specific rating information and related outlooks. The requirement for classification with a low credit risk is regarded to be fulfilled for counterparties that have at least an investment grade rating; in this case there is no need to monitor credit risks for financial instruments with a low credit risk. The default probabilities applied to determine the expected credit losses for cash and cash equivalents are based on credit default swap spreads that are quoted on markets, which take future-oriented macroeconomic data into account. For the other financial assets, primarily the loan granted to one of SCHMID’s shareholder, the low credit risk exemption is not applied. Instead, it was considered credit-impaired as there was no repayment. The loan was repaid during 2023. For the determination of the ECL allowance the term-specific rating-based probability of default rates and historical recovery rates were applied. In general, SCHMID defines a default event as a situation in which the debt is no longer recoverable. If the financial instrument is perceived to be unrecoverable, then the expectation is that future contractual cash flows will not occur. At this point in time, the balance is written off after giving consideration to any possible security that is available. Financial liabilities SCHMID’s financial liabilities include trade payables and other liabilities, lease liabilities (see note 20. Leases), a share option and borrowings. Borrowings consist of loans from financial institutions and other third parties, debt funds and related parties (including bifurcated embedded derivatives). Financial liabilities are classified as measured at amortized cost ("FLAC") or fair value through profit or loss (“FVTPL”). All financial liabilities are recognized initially at fair value less, in the case of a financial liability not measured at FVTPL, directly attributable transaction costs. Financial liabilities at FVTPL are measured at fair value and gains and losses are recognized in finance income / expense. Currently, SCHMID only accounts for a share option as well as separated embedded derivatives of loans as a financial liability at FVTPL. All other financial liabilities are subsequently measured at amortized cost using the Effective Interest (“EIR”) method. When applying the EIR method, SCHMID generally amortizes any fees, transaction costs and other premiums or discounts that are included in the calculation of the effective interest rate over the expected life of the financial instrument. Gains and losses are recognized in interest expense when the liabilities are derecognized as well as through the EIR amortization process. If SCHMID revises its estimates of the cash flows used for the initial EIR method of a financial liability, the carrying amount of the financial liability is being adjusted to reflect that fact. An embedded derivative in a hybrid contract, with a financial liability or non-financial host, is separated from the host and accounted for as a separate derivative if: the economic characteristics and risks are not closely related to the host; a separate instrument with the same terms as the embedded derivative would meet the definition of a derivative; and the hybrid contract is not measured at fair value through profit or loss. The assessment whether to separate an embedded derivative is done only once at initial recognition of the hybrid contract. Reassessment only occurs if there is a change in the terms of the contract that significantly modifies the cash flows. If there are multiple embedded derivatives in a single hybrid contract that share the same risk exposure and are interdependent, they have to be treated as a combined embedded derivative. The (combined) embedded derivative is measured at fair value with changes in fair value recognized in profit or loss. The remaining host contract is measured at amortized cost. A financial liability is derecognized when the obligation under the liability is discharged or cancelled or expires. When an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as the derecognition of the original liability and the recognition of a new liability. The resulting gain or loss is recognized in the Combined Statements of Profit or Loss and Other Comprehensive Income (Loss).
Income Taxes	Income Taxes Current income taxes Current income tax assets and liabilities are measured at the amount expected to be recovered from or paid to the taxation authorities. This includes liabilities and/or receivables for the current period as well as for prior periods. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted at the reporting date in the countries where the reporting entity SCHMID operates and generates taxable income. Management periodically evaluates positions taken in the tax returns with respect to situations in which applicable tax regulations are subject to interpretation and establishes provisions where appropriate. Deferred taxes SCHMID uses the liability method of accounting for income taxes. Deferred income tax assets and liabilities represent temporary differences between the carrying amounts of assets and liabilities in the combined financial statements and their corresponding tax basis used in the computation of taxable income. Deferred tax however is not recognized on the initial recognition of goodwill, or the initial recognition of an asset or liability (other than in a business combination) in a transaction that affects neither tax nor accounting income. Deferred tax assets are recognized for all deductible temporary differences, carry forward of unused tax credits and any unused tax losses to the extent it is probable that taxable profit will be available against which the deductible temporary differences, the carry forward of unused tax credits and the unused tax losses can be utilized. Deferred tax liabilities are recognized for all taxable temporary differences associated with investments in entities and associates, except where SCHMID is able to control the reversal of the temporary differences and it is probable that the temporary difference will not reverse in the foreseeable future. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the year in which the asset is realized, or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted at the reporting date. Deferred tax liabilities and assets are offset when there is a legally enforceable right to offset current tax assets against current tax liabilities and when they relate to income taxes levied by the same taxation authority and SCHMID intends to settle its current tax assets and liabilities on a net basis. Current and deferred tax items are recognized similar to the underlying transaction either in profit or loss, other comprehensive income or directly in equity. Changes in deferred tax assets or liabilities are recognized as a component of tax expense (income) in the combined statement of profit or loss, except where they relate to items that are recognized in other comprehensive income or directly in equity, in which case the related deferred tax is also recognized in other comprehensive income or equity, respectively. Deferred tax assets and deferred tax liabilities are not discounted and are always classified as non-current asset or liabilities in the balance-sheet. SCHMID’s business activities are complex, and the related domestic and foreign tax interpretations, regulations, laws and case law are constantly changing. These issues can lead to uncertain tax positions. In accordance with IFRIC 23, uncertain tax positions are accounted for if it is probable that the tax authorities will not accept the income tax treatment applied. The better forecast of the "most likely amount" and the "expected value" has to be recognized.
Provisions	Provisions Provisions are recognized when SCHMID has a present obligation (legal or constructive) as a result of a past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation.
Fair Values of Assets and Liabilities	Fair Values of Assets and Liabilities Fair value is a market-based measurement. For some assets and liabilities, observable market transactions or market information is available. For other assets and liabilities, observable market transactions or market information might not be available. When a price for an identical asset or liability is not observable, another valuation technique is used. To increase consistency and comparability in fair value measurements, there are three levels of the fair value hierarchy: ● Level 1: contains the use of unadjusted quoted prices in active markets for identical assets or liabilities ● Level 2: inputs are other than quoted prices included within Level 1 that are observable for the asset or liability either directly or indirectly ● Level 3: inputs are based on unobservable market data If the inputs used to measure the fair value of an asset or a liability fall into different levels of the fair value hierarchy, then the fair value measurement is categorized in its entirety in the same level of the fair value hierarchy as the lowest level input that is significant to the entire measurement. SCHMID recognizes transfers between levels of the fair value hierarchy at the end of the reporting period during which the change has occurred.
Pension benefits	Pension benefits SCHMID operates one defined benefit pension plan relating to one person. The cost of providing benefits under the defined benefit plan is determined using the projected unit credit method. The defined benefit obligation is recognized within non-current provisions for pensions. Remeasurements, comprising of actuarial gains and losses, are recognized immediately in the statement of financial position with a corresponding debit or credit in Other comprehensive income ("OCI") in the period in which they occur. Remeasurements are not reclassified to profit or loss in subsequent periods. Net interest is calculated by applying the discount rate to the net defined benefit liability. SCHMID recognizes the changes in the net defined benefit obligation under OCI.
Revenue Recognition	Revenue Recognition The Company records revenue in accordance with IFRS 15 “Revenue from Contracts with Customers". The core principle of the guidance requires that an entity recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services. This guidance defines a five-step process to achieve this core principle and, in doing so, judgment and estimates are required within the revenue recognition process including identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price and allocating the transaction price to each separate performance obligation. Revenue amounts are presented net of discounts. Revenue from sales of machines and spare parts is recognized when the customer obtains control over the products sold upon delivery. Sales of machines sometimes include installation services and extended warranty services which, when requested, are priced as a bundle. However, when sold together, these promises qualify as separate performance obligations as they are capable of being distinct and distinct within the context of the contract. The Company allocates transaction prices to these performance obligations based on their relative standalone selling price using a cost-plus margin approach. The respective revenue is recognized after the installation is complete, which is usually after a period of two three The Company offers repair services, inspections and installations of modifications (“Services”), which are optional for customers and priced separately. When these promises are included in a contract with others, the Company considers these to be distinct performance obligations and allocates transaction prices based on their relative standalone selling price. Service revenue is recognized after the Company has satisfied the performance obligation by transferring the promised service to the customer which is usually not more than a period of two three Certain of the Company’s contracts include the provision of development services over an extended period of up to three years (long-term development contracts). The Company develops machinery according to specific requirements provided by the Customer in exchange for nonrefundable consideration provided at fixed points throughout the contract and additional consideration based on the achievement of milestones. In case of these long-term development contracts, revenue is recognized over time as these contracts meet the criteria of IFRS 15.35. Revenue resulting from fixed payments that the Company receives — which is not connected to certainly defined results — is recognized on a straight-line basis over the term of the contract as the Company efforts and inputs needed are expected to be relatively consistent overtime. Moreover, the Company receives variable consideration at the completion of certain milestones. Due to the high degree of uncertainty with respect to such payments, these are not included in the transaction price recognized overtime and instead are recorded as revenue upon completion of the relevant milestone. If the advance payments invoiced/received exceed the services already provided, the overpayment will be recognized and disclosed under contract liabilities. A contract asset is recognized if the services rendered exceed the advance payments invoiced/received. If the right to consideration is unconditional, a contract asset becomes a trade receivable. This is the case if the due date of the consideration is only dependent on the passage of time. Impairment of contract assets is measured, recognized and disclosed on the same basis as for financial assets within the scope of IFRS 9. SCHMID applies industry-standard payment terms when invoicing.
Inventories	Inventories SCHMID capitalizes and measures existing inventory at the lower of cost or net realizable value. The average cost method is used as the measurement standard for acquisition and production costs. The production costs include not only the direct unit costs but also an appropriate share of material and production overheads. Where necessary, impairments to reflect lower net realizable values as well as other inventory risks are recorded. An impairment loss is reversed, if the reasons for the write-down in the past no longer exist.
Government Grants	Government Grants The Company has received various government grants related to innovation projects encouraged by governmental authorities which generally reimburse a specified amount or proportion of the costs related to such projects. As these grants are not received in the course of the normal trading transactions, these grants are treated as government grants in accordance with IAS 20. Government grants related to assets are recognized on the date on which the conditions for receipt of the grant are met and are deducted from the carrying amount of the asset; they are recognized in profit or loss over the life of a depreciable asset as a reduced depreciation expense. Government grants related to costs incurred by SCHMID are recognized in profit or loss as other operating income in the period in which the Company recognizes as expenses the related costs to be compensated by the grants.
Joint Arrangements	Joint Arrangements Under IFRS 11 Joint Arrangements investments in joint arrangements are classified as either joint operations or joint ventures. The classification depends on the contractual rights and obligations of each investor, rather than the legal structure of the joint arrangement. SCHMID only has investments in joint ventures. These are accounted for using the equity method, after initially being recognized at cost in the combined balance sheet. Under the equity method of accounting, the investments are initially recognized at cost and adjusted thereafter to recognize SCHMID’s share of the post-acquisition profits or losses of the investee in profit or loss, and SCHMID’s share of movements in other comprehensive income of the investee in other comprehensive income. Where SCHMID’s share of losses in an equity-accounted investment equals or exceeds its interest in the entity, including any other unsecured long-term receivables, SCHMID does not recognize further losses, unless it has incurred obligations or made payments on behalf of the other entity. Unrealized gains on transactions between SCHMID and its associates and joint ventures are eliminated to the extent of SCHMID’s interest in these entities. Unrealized losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred. Accounting policies of equity-accounted investees have been changed where necessary to ensure consistency with the policies adopted by SCHMID. The carrying amount of equity-accounted investments are tested for impairment in accordance with the policy described above.
New and amended standards adopted by SCHMID	New and amended standards adopted by SCHMID The Company has applied the following standards and amendments for the first time for its annual reporting period commencing 1 January 2023: ● IFRS 17 Insurance Contracts ● Definition of Accounting Estimates – amendments to IAS 8 ● International Tax Reform – Pillar Two Model Rules – amendments to IAS 12 ● Deferred Tax related to Assets and Liabilities arising from a Single Transaction – amendments to IAS 12 ● Disclosure of Accounting Policies – Amendments to IAS 1 and IFRS Practice Statement 2 The amendments listed above did not have any impact on the amounts recognised in prior periods and are not expected to significantly affect the current or future periods.
New Standards and Interpretations not yet adopted by SCHMID	New Standards and Interpretations not yet adopted by SCHMID A number of new standards and amendments to standards and interpretations are effective for annual periods beginning on or after January 1, 2023 and have not been applied in preparing these combined financial statements. None of these standards are expected to have a significant effect on the combined financial statements of SCHMID. ​ ​ ​ ​ Standard Effective date Amendment to IFRS 16 – Leases on sale and leaseback 1/1/2024 Amendments to IAS 1: ​ - Classification of liabilities as current or non-current ​ ​ - Non-current liabilities with covenants ​ 1/1/2024 Amendment to IAS 7 and IFRS 7 – Supplier finance 1/1/2024 Amendment to IAS 21 – Lack of Exchangeability 1/1/2025 ​

BASIS OF PREPARATION (Tables)

BASIS OF PREPARATION (Tables)	12 Months Ended
	Dec. 31, 2023
BASIS OF PREPARATION
Schedule of legal entities which comprise combined financial statements and certain investments in joint ventures accounted for using equity method	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Country of ​ Ownership Interest ​ Name incorporation 12/31/2023 12/31/2022 Gebr. Schmid GmbH Germany 100 % 100 % SCHMID Systems, Inc. USA 100 % 100 % SCHMID Singapore Pte. Ltd. Singapore 90 % 90 % SCHMID Korea Co., Ltd South Korea 100 % 100 % SCHMID Asia Ltd. Hong Kong 100 % 100 % SCHMID Technology Guangdong Co., Ltd. China 76 % 76 % SCHMID China Ltd. Hong Kong 100 % 100 % SCHMID Shenzhen Ltd. China 100 % 100 % SCHMID (Kunshan) Co., Ltd. China 100 % 100 % SCHMID Taiwan Ltd. Taiwan 86 % 86 % SCHMID Automation (Zhuhai) Co., Ltd. China 100 % 100 % SCHMID Solar (Shenzhen) Ltd. China 100 % 100 % SCHMID Trading (Zhongshan) Co. Ltd. China 100 % — % Joint ventures ​ Advanced Energy Storage Systems Investment Company Saudi Arabia 51 % 51 % SCHMID Avaco Korea, Co. Ltd. South Korea 50 % 50 %

MATERIAL ACCOUNTING POLICIES (T

MATERIAL ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2023
MATERIAL ACCOUNTING POLICIES
Schedule of useful lives of property, plant and equipment	​ ​ ​ ​ ​ Useful life Buildings and building improvements 10 - 50 years Technical equipment and machinery 2 - 21 years Office and other equipment 3 - 13 years

SIGNIFICANT EVENTS IN THE PER_2

SIGNIFICANT EVENTS IN THE PERIOD ENDED DECEMBER 31, 2023 (Tables)	12 Months Ended
	Dec. 31, 2023
SIGNIFICANT EVENTS IN THE PERIOD ENDED DECEMBER 31, 2023
Summary of significant impacts of the significant events on the financial statements	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Shareholder Receivable ​ ​ ​ ​ Silicon ​ receivable ​ Silicon exit ​ Group14 ​ Debt ​ in € thousand ​ receivables ​ CS ​ bonus ​ shares ​ funds ​ 01/01/2023 ​ — ​ 65,589 ​ — ​ — ​ (104,166) Other income ​ — ​ ​ ​ 4,700 (c) — ​ — Reversal of impairment 21,375 (a) 1,418 (e) — — — ​ Finance income — 3,173 — — 15,852 (f) Finance expense — — — — (4,302) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash payments — (70,000) (d) — — 70,000 (h) Non-cash settlement of receivables (17,664) (b) — — 17,664 — ​ Non-cash settlement of loans (2,800) (g) — — (17,664) (i) 22,616 ​ Other (911) (73) — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 12/31/2023 — 107 4,700 — — ​ ​

SEGMENT AND GEOGRAPHIC INFORM_2

SEGMENT AND GEOGRAPHIC INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2023
SEGMENT AND GEOGRAPHIC INFORMATION
Summary of key financial metrics by segment and reconciliation from total segment adjusted EBITDA to loss before income tax	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 ​ ​ Technical ​ ​ ​ ​ ​ Total ​ ​ equipment ​ Spare parts ​ ​ ​ management in € thousand ​ and processes and services Other reporting Revenues 78,743 11,503 — 90,246 Segment adjusted EBITDA 12,872 3,787 22,440 39,099 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 ​ ​ Technical ​ ​ ​ ​ ​ Total ​ ​ equipment ​ Spare parts ​ ​ ​ management in € thousand ​ and processes and services Other reporting Revenues 78,778 16,280 — 95,058 Segment adjusted EBITDA 14,155 9,329 (3,546) 19,937 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 ​ ​ Technical ​ ​ ​ ​ ​ Total ​ ​ equipment ​ Spare parts ​ ​ ​ management in € thousand ​ and processes and services Other reporting Revenues 27,587 11,894 — 39,481 Segment adjusted EBITDA 1,868 6,873 (11,276) (2,534) ​ ​ ​ ​ ​ ​ ​ ​ ​ in € thousand 2023 2022 2021 Total segment adjusted EBITDA 39,099 19,937 (2,534) Financial result 9,594 (11,988) (14,654) Amortization and depreciation (6,904) (6,283) (4,893) Share of profit (loss) in joint ventures (1,057) — — Income tax benefit (expense) ​ (2,778) ​ 1,924 ​ (5,195) Net income (loss) for the period 37,953 3,591 (27,277) ​
Summary of revenue and non-current assets that can be split into geographical areas	​ ​ ​ ​ ​ ​ ​ ​ in € thousand 2023 2022 2021 China 15,308 39,424 17,652 Taiwan 1,634 12,846 3,814 USA 17,522 11,478 3,375 Germany 9,577 10,743 5,390 Malaysia 16,681 7,915 — Austria 17,810 3,928 3,793 Other 11,714 8,724 5,457 Total 90,246 95,058 39,481 ​ ​ ​ ​ ​ ​ ​ in € thousand 12/31/2023 12/31/2022 Germany 26,853 28,334 China 2,504 1,922 Other 376 266 Total 29,733 30,523

REVENUE FROM CONTRACTS WITH C_2

REVENUE FROM CONTRACTS WITH CUSTOMERS AND COST OF SALES (Tables)	12 Months Ended
	Dec. 31, 2023
REVENUE FROM CONTRACTS WITH CUSTOMERS AND COST OF SALES
Schedule of revenues by types of sales	​ ​ ​ ​ ​ ​ ​ ​ in € thousand 2023 2022 2021 Machines 1 77,554 73,151 25,626 Spare Parts 9,722 14,302 8,081 Service 2 1,781 1,978 3,802 Other 1,189 5,627 1,971 Total 90,246 95,058 39,481 (1) Included within the “Machines” category is revenue from the sale and installation of machines, long-term development and extended warranties. (2) Included within the “Services” category is revenue from repair services, installations of modifications and inspections.
Schedule of changes to contract liabilities	​ ​ ​ ​ ​ ​ ​ ​ in € thousand 2023 2022 2021 Balance at January 1 30,569 25,682 17,378 Sales revenues included in contractual liabilities at the beginning of the period (30,406) (25,682) (17,378) Increase due to customer payments received 17,769 30,569 25,682 Balance at December 31 17,931 30,569 25,682
Summary of cost of sales included in cost types	​ ​ ​ ​ ​ ​ ​ ​ in € thousand 2023 2022 2021 Personnel expenses (16,690) (16,221) (14,094) Material expenses (35,767) (34,274) (9,519) Depreciation/amortization (4,904) (4,147) (2,746) Other expenses (6,488) (7,079) (4,147) Total cost of sales (63,849) (61,721) (30,506)

SELLING (Tables)

SELLING (Tables)	12 Months Ended
	Dec. 31, 2023
SELLING
Schedule of selling expenses	​ ​ ​ ​ ​ ​ ​ ​ in € thousand 2023 2022 2021 Personnel expenses (8,295) (8,017) (5,535) Legal and consulting fees (834) (873) (581) Sales Commission (241) (475) (95) Distribution related external administration (1,537) (582) (801) Advertisement (649) (428) (294) Other expenses (1,021) (995) (545) Total selling expenses (12,577) (11,369) (7,851)

GENERAL ADMINISTRATION (Tables)

GENERAL ADMINISTRATION (Tables)	12 Months Ended
	Dec. 31, 2023
RESEARCH AND DEVELOPMENT EXPENSES
Schedule of general administrative expenses	​ ​ ​ ​ ​ ​ ​ ​ in € thousand 2023 2022 2021 Personnel expenses (4,131) (3,992) (3,692) Legal and consulting fees (4,401) (1,681) (1,584) External administrative expenses (965) (692) (529) Other administrative expenses (3,042) (607) (493) Total administrative expenses (12,538) (6,973) (6,298)

RESEARCH AND DEVELOPMENT EXPE_2

RESEARCH AND DEVELOPMENT EXPENSES (Tables)	12 Months Ended
	Dec. 31, 2023
RESEARCH AND DEVELOPMENT EXPENSES
Schedule of research and development expenses	​ ​ ​ ​ ​ ​ ​ ​ in € thousand 2023 2022 2021 Personnel expenses (2,261) (1,888) (1,319) Depreciation/amortization (877) (910) (627) Legal and consulting fees (587) (614) (422) R&D related external administration (906) (856) (282) Other research and development expenses (517) (549) (83) Total research and development expenses (5,148) (4,818) (2,733)

OTHER INCOME (Tables)

OTHER INCOME (Tables)	12 Months Ended
	Dec. 31, 2023
OTHER INCOME
Schedule of other income	​ ​ ​ ​ ​ ​ ​ ​ in € thousand 2023 2022 2021 Foreign currency gains 2,969 1,503 538 Bonus payments 9,200 — — Other miscellaneous income 3,815 1,871 1,387 Total other income 15,985 3,375 1,924

OTHER EXPENSES (Tables)

OTHER EXPENSES (Tables)	12 Months Ended
	Dec. 31, 2023
OTHER EXPENSES
Schedule of other expenses	​ ​ ​ ​ ​ ​ ​ ​ in € thousand 2023 2022 2021 Foreign currency losses (2,388) (2,399) (2,942) Other taxes (166) (122) (776) Disposal of assets — (231) (154) Miscellaneous other items (65) (236) (908) Total other expenses (2,620) (2,988) (4,779)

REVERSAL OF IMPAIRMENT OF FIN_2

REVERSAL OF IMPAIRMENT OF FINANCIAL ASSETS, NET (Tables)	12 Months Ended
	Dec. 31, 2023
REVERSAL OF IMPAIRMENT OF FINANCIAL ASSETS, NET
Schedule of reversal of impairments of financial assets	​ ​ ​ ​ ​ ​ ​ ​ In € thousand 12/31/2023 12/31/2022 12/31/2021 Reversal of receivables from the Silicon Group 21,375 — — Reversal of impairment of shareholder loan (included in trade and other receivables) 1,418 3,091 3,284 Other (97) — 49 Total 22,696 3,091 3,333

FINANCIAL RESULT (Tables)

FINANCIAL RESULT (Tables)	12 Months Ended
	Dec. 31, 2023
FINANCIAL RESULT
Schedule of financial results	​ ​ ​ ​ ​ ​ ​ ​ in € thousand 2023 2022 2021 Finance income 19,685 5,758 3,360 thereof fair value changes — 1,669 124 thereof interest income and similar proceeds 3,883 4,089 3,236 thereof gain from loan extinguishment 15,802 — — Finance expenses (10,091) (17,746) (18,014) thereof interest portion of lease payments (103) (68) (49) thereof interest expense (9,988) (17,678) (17,965) Financial result 9,594 (11,988) (14,654)

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2023
INCOME TAXES
Summary of income taxes recognized in the Combined Statement of Profit or Loss and Other Comprehensive Income	​ ​ ​ ​ ​ ​ ​ ​ in € thousand 2023 2022 2021 Current income tax (expense) / income (1,044) (2,908) (1,839) thereof prior years 168 (6) (35) Deferred tax (expense) / income (1,735) 4,832 (3,357) thereof temporary differences (1,853) 12,693 (12,367) thereof tax loss/interest carryforwards 118 (7,861) 9,010 Income tax as per statement of profit or loss (2,778) 1,924 (5,195)
Summary of reconciliation of expected tax expense and reported tax expense	​ ​ ​ ​ ​ ​ ​ ​ ​ in € thousand 2023 2022 2021 Income (loss) before income tax 40,732 1,667 (22,082) ​ Income tax rate 29.125 % 29.125 % 29.125 % Expected income tax income (expense) (11,863) (485) 6,431 ​ Tax rate differences 891 911 (2,270) ​ Non-deductible expenses (79) (573) (1,204) ​ Tax -free income 1,263 495 2,755 ​ Trade tax modifications (116) (269) (417) ​ Tax effects from withholding tax (166) (370) (1,485) ​ Tax effects from prior years 488 642 634 ​ Permanent differences resulting from the statement of financial position 2,912 (8) (2,486) ​ Loss utilisation of previously not recognized tax loss carryforwards 0 1,152 556 ​ Change in valuation allowance from temporary differences and tax loss carryforwards 3,598 927 (4,904) ​ Change from interest carryforwards 333 (957) (2,827) ​ Other reconciling items (38) 460 21 ​ Income tax benefit (expense) (2,778) 1,924 (5,195) ​ Effective tax rate in % ​ 6.82 % (115.46) % (23.53) %
Summary of deferred tax assets ("DTA") and deferred tax liabilities ("DTL") recognition on the financial statement line items and deferred tax assets not recognized	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Deferred taxes Deferred taxes in ​ ​ ​ ​ ​ in statement of ​ other comprehensive ​ Currency translation ​ ​ ​ ​ ​ ​ profit or loss ​ income ​ adjustments ​ DTA ​ DTL in € thousand ​ ​ ​ ​ ​ ​ ​ 2023 ​ 2023 Non-current assets (13,373) — (116) 3,628 (6,970) Intangible assets 239 — (126) 1,843 (4,193) Property, plant and equipment (2,167) — 9 155 (2,542) Financial assets (11,444) — 1 1,630 (235) Current assets 14,109 — 49 382 (5,584) Inventories (487) — (6) 220 (598) Receivables and other assets 15,526 — 52 149 (3,985) Other current assets (899) — 3 — (956) Cash and cash equivalents (31) — 1 13 (44) Non-current liabilities 3,288 (7) (8) 2,813 (7,757) Non-current borrowings 868 — 4 17 (7,433) Provisions for pensions 52 (7) (7) 140 (67) Non-current provisions (161) — — 60 (257) Non-current lease liability 2,529 — (5) 2,596 — Current liabilities (8,820) — (124) 8,472 (2,998) Current borrowings (7,995) — — 3,803 (575) Current contract liabilities (929) — (10) 1,525 — Trade payables and other liabilities 520 — (109) 1,600 (665) Other current liabilities 629 — (20) 1,104 (30) Current lease liability 121 — (4) 210 — Current provisions (1,166) — 19 230 (1,727) Tax loss/interest carryforward 3,061 — (2) 6,167 — Tax Loss Carryforward (CIT) 1,693 — (2) 3,408 — Tax Loss Carryforward (Trade Tax) 1,368 — — 2,759 — Interest Carryforward — — — — — Gross value (1,735) (7) (194) 21,463 (23,308) Netting ​ ​ ​ (18,920) 18,920 Recognition in the statement of financial position ​ ​ ​ 2,543 (4,388) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Deferred taxes Deferred taxes in ​ ​ ​ ​ ​ in statement of ​ other comprehensive ​ Currency translation ​ ​ ​ ​ ​ ​ profit or loss ​ income ​ adjustments ​ DTA ​ DTL in € thousand ​ ​ ​ ​ ​ ​ ​ 2022 ​ 2022 Non-current assets 9,460 — (44) 15,085 (4,937) Intangible assets (28) — 45 2,084 (4,547) Property, plant and equipment (78) — 1 153 (381) Financial assets 9,566 — — 12,848 (9) Current assets (18,238) — 70 1,801 (21,161) Inventories 51 — (3) 246 (131) Trade receivables and other receivables (18,193) — 70 1,554 (20,969) Other current assets (96) — 2 — (60) Cash and cash equivalents — — — — — Non-current liabilities 8,138 (88) (577) 348 (8,571) Non-current financial liabilities 7,334 — — — (8,287) Provisions for pensions 513 (88) (575) 93 (65) Non-current provisions 256 — (1) 120 (155) Non-current lease liability 35 — (1) 136 (64) Current liabilities 13,333 — (67) 15,871 (1,453) Current financial liabilites 8,367 — — 11,223 — Current contract liabilities 2,351 — (4) 2,464 — Trade payables and other liabilities 1,209 — (51) 1,281 (757) Other current liabilities 676 — (5) 545 (80) Current lease liability 27 — (1) 93 — Current provisions 704 — (5) 266 (616) Tax loss/interest carryforward (7,861) — 12 3,108 — Tax Loss Carryforward (CIT) (4,535) — 12 1,717 — Tax Loss Carryforward (Trade Tax) (3,326) — — 1,392 — Interest Carryforward — — — — — Gross value 4,832 (88) (606) 36,213 (36,122) Netting ​ ​ ​ (33,619) 33,619 Recognition in the statement of financial position ​ ​ ​ 2,594 (2,504) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 ​ 2022 ​ 2021 in € thousand ​ Tax base DTA Tax base DTA Tax base DTA Deductible temporary differences 41,498 10,805 34,149 8,984 65,199 18,070 Tax loss carryforward (CIT) 91,405 14,701 108,229 17,415 75,903 12,641 Tax loss carryforward (trade tax) 49,147 6,536 65,308 8,686 45,834 6,096 Interest carryforward 35,229 9,089 36,956 9,535 33,209 8,568
Summary of maturities of the tax loss carryforwards for which no deferred tax assets were recognized	​ ​ ​ ​ ​ ​ ​ ​ in € thousand 2023 2022 2021 Up to 5 years 2,685 5,107 3,310 Up to 10 years 1,772 1,064 927 Up to 15 years 4,508 5,187 3,943 Up to 20 years — — 340 unlimited 131,586 162,177 113,216

INTANGIBLE ASSETS (Tables)

INTANGIBLE ASSETS (Tables)	12 Months Ended
	Dec. 31, 2023
INTANGIBLE ASSETS
Schedule of intangible assets	​ ​ ​ ​ ​ ​ ​ ​ ​ Development Patents and ​ in € thousand ​ Costs ​ licenses ​ Total Costs of acquisition 1/1/2023 22,832 1,042 23,874 Additions 2,915 359 3,274 Disposals/Retirements — — — Foreign exchange differences (17) (28) (46) 12/31/2023 25,729 1,372 27,102 Accumulated amortization/write downs 1/1/2023 7,495 552 8,046 Amortization 3,975 158 4,133 Disposals/Retirements — — — Foreign exchange differences (17) (26) (44) 12/31/2023 11,452 684 12,136 Carrying amount: 1/1/2023 15,337 490 15,828 12/31/2023 14,278 689 14,966 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Development Patents and ​ in € thousand Costs licenses Total Costs of acquisition 1/1/2022 22,968 6,461 29,429 Additions 3,219 389 3,607 Disposals/Retirements (3,355) (5,807) (9,162) Foreign exchange differences — (1) (1) 12/31/2022 22,832 1,042 23,874 Accumulated amortization/write downs 1/1/2022 7,174 6,280 13,454 Amortization 3,529 80 3,609 Disposals/Retirements (3,208) (5,807) (9,015) Foreign exchange differences — (2) (2) 12/31/2022 7,495 552 8,046 Carrying amount: 1/1/2022 15,794 181 15,976 12/31/2022 15,337 490 15,828

PROPERTY, PLANT AND EQUIPMENT (

PROPERTY, PLANT AND EQUIPMENT (Tables)	12 Months Ended
	Dec. 31, 2023
PROPERTY, PLANT AND EQUIPMENT
Schedule of property, plant and equipment	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Land, ​ ​ ​ ​ ​ ​ buildings and ​ Technical ​ Office and ​ ​ ​ ​ ​ ​ leasehold ​ equipment and ​ other ​ Assets under ​ ​ in € thousand improvements machinery equipment construction Total Costs of acquisition or construction: 1/1/2023 21,303 18,263 14,561 — 54,127 Additions — 1,679 1,410 513 3,602 Disposals/Retirements (21,085) (3,448) (458) — (24,991) Foreign exchange differences 1 (164) (126) — (289) 12/31/2023 220 16,330 15,386 513 32,449 Accumulated depreciation: 1/1/2023 11,581 15,892 13,293 — 40,766 Depreciation 483 982 583 — 2,048 Disposals/Retirements (11,995) (3,447) (414) — (15,856) Foreign exchange differences 1 (114) (101) — (214) 12/31/2023 71 13,314 13,359 — 26,744 Carrying amount: 1/1/2023 9,722 2,371 1,268 — 13,361 12/31/2023 149 3,016 2,027 513 5,704 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Land, ​ ​ ​ ​ ​ ​ buildings and ​ Technical ​ Office and ​ ​ ​ ​ ​ ​ leasehold ​ equipment and ​ other ​ Assets under ​ ​ in € thousand improvements machinery equipment construction Total Costs of acquisition or construction: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 1/1/2022 21,143 18,692 15,139 345 55,318 Additions 161 940 323 — 1,423 Disposals/Retirements — (1,638) (858) (12) (2,507) Transfers — 333 — (333) — Foreign exchange differences — (64) (43) — (107) 12/31/2022 21,303 18,263 14,561 — 54,127 Accumulated depreciation: 1/1/2022 11,097 16,566 13,756 — 41,419 Depreciation 484 964 417 — 1,865 Disposals/Retirements — (1,585) (842) — (2,426) Foreign exchange differences — (53) (38) — (92) 12/31/2022 11,581 15,892 13,293 — 40,766 Carrying amount: 1/1/2022 10,046 2,126 1,383 345 13,899 12/31/2022 9,722 2,371 1,268 — 13,361 ​

LEASES (Tables)

LEASES (Tables)	12 Months Ended
	Dec. 31, 2023
LEASES
Schedule of carrying amounts of right-of-use assets recognized and movements during period	​ ​ ​ ​ ​ ​ ​ ​ in € thousand Real Estate Vehicles Total 1/1/2022 1,207 306 1,513 Additions to right-of-use assets 144 336 480 Depreciation (430) (211) (642) Foreign exchange differences (15) (2) (17) 12/31/2022 906 428 1,334 Additions to right-of-use assets 8,402 178 8,581 Depreciation (543) (236) (779) Foreign exchange differences (68) (5) (73) 12/31/2023 8,697 365 9,063
Schedule of carrying amounts of lease liabilities and movements during period	​ ​ ​ ​ in € thousand Lease Liability 1/1/2022 1,528 Additions 433 Interest 68 Payments (676) Foreign exchange difference (19) 12/31/2022 1,333 Additions 10,347 Interest 102 Payments (819) Foreign exchange difference (77) 12/31/2023 10,886
Schedule of combined statement of profit or loss and other comprehensive income (loss) included amounts of lease related expense	​ ​ ​ ​ ​ ​ ​ ​ in € thousand 2023 2022 2021 Depreciation of right of-use-assets (779) (642) (487) Interest expense on lease liabilities (103) (68) (49) Short-term lease expenses (383) (523) (341) Lease expenses for low-value assets (7) (28) (68) Total amount recognized in expense (1,273) (1,260) (945)
Schedule of information on total cash outflow from all leases	​ ​ ​ ​ ​ ​ ​ ​ in € thousand 2023 2022 2021 Principal paid (715) (609) (451) Interest paid (103) (68) (49) Short term and low value leases (391) (551) (409) Total amount paid (1,209) (1,227) (908)
Schedule of maturity analysis of undiscounted lease payments for which right-of-use asset and lease liability	​ ​ ​ ​ ​ ​ in € thousand 12/31/2023 12/31/2022 ≤ 1 year 2,108 564 > 1 ≤ 2 years 1,928 465 > 2 ≤ 5 years 4,081 446 > 5 years 6,014 — Gross lease liabilities – minimum lease payments 14,130 1,476 Discount and foreign currency effects (3,244) 143 Present value of the lease liabilities 10,886 1,333

INVENTORIES (Tables)

INVENTORIES (Tables)	12 Months Ended
	Dec. 31, 2023
INVENTORIES
Schedule of inventories	​ ​ ​ ​ ​ ​ in € thousand 12/31/2023 12/31/2022 Raw materials and supplies 4,386 5,513 Work in progress 6,038 11,098 Finished goods 5,928 8,419 Inventories 16,353 25,029

TRADE RECEIVABLES AND OTHER R_2

TRADE RECEIVABLES AND OTHER RECEIVABLES (Tables)	12 Months Ended
	Dec. 31, 2023
TRADE RECEIVABLES AND OTHER RECEIVABLES
Schedule of trade receivables and other receivables	​ ​ ​ ​ ​ ​ in € thousand 12/31/2023 12/31/2022 Trade receivables 40,626 40,593 Receivables from joint ventures 1,599 2,656 Other receivables 4,807 65,589 Total trade and other receivables 47,032 108,838

OTHER CURRENT ASSETS (Tables)

OTHER CURRENT ASSETS (Tables)	12 Months Ended
	Dec. 31, 2023
OTHER CURRENT ASSETS
Schedule of other current assets	​ ​ ​ ​ ​ ​ in € thousand 12/31/2023 12/31/2022 Advance payments on inventories 1,317 2,635 Restricted cash 89 1,049 Prepaid expenses 3,667 730 Contract assets — 401 Total other current non-financial assets 5,073 4,815

NON-CONTROLLING INTEREST (Table

NON-CONTROLLING INTEREST (Tables)	12 Months Ended
	Dec. 31, 2023
NON-CONTROLLING INTEREST
Schedule of the information relating to each entity that has material NCI, before any intra-SCHMID eliminations	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ SCHMID ​ ​ ​ ​ ​ ​ ​ Technology ​ ​ ​ ​ ​ SCHMID ​ Guangdong Co., ​ SCHMID Taiwan ​ 12/31/2023 Singapore Pte. Ltd. Ltd Ltd. NCI percentage ​ 10.0 % 24.1 % 14.0 % Non-current assets ​ — ​ 5,118 ​ 185 Current assets ​ 2,797 ​ 42,569 ​ 11,827 Non-current liabilities — 847 605 ​ Current liabilities 2,062 22,288 5,182 ​ Net assets 736 24,552 6,224 ​ Net assets attributable to NCI 74 5,917 868 ​ Revenue — 27,750 1,672 ​ Profit 6,188 2,298 (402) ​ OCI — (1,550) (252) ​ Total comprehensive income 6,188 748 (654) ​ Total comprehensive income allocated to NCI 619 180 (91) ​ Accumulated NCI end of period 77 6,487 794 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ SCHMID ​ ​ ​ ​ ​ ​ ​ Technology ​ ​ ​ ​ ​ SCHMID ​ Guangdong Co., ​ SCHMID Taiwan ​ 12/31/2022 Singapore Pte. Ltd. Ltd Ltd. NCI percentage ​ 10.0 % 24.1 % 14.0 % Non-current assets ​ — ​ 4,575 ​ 71 Current assets ​ 1,651 ​ 46,040 ​ 12,704 Non-current liabilities — 568 694 ​ Current liabilities 7,104 26,244 5,203 ​ Net assets (5,453) 23,804 6,879 ​ Net assets attributable to NCI (545) 5,737 960 ​ Revenue — 38,753 12,873 ​ Profit (7) 6,068 4,152 ​ OCI — (639) (303) ​ Total comprehensive income (7) 5,429 3,849 ​ Total comprehensive income allocated to NCI (1) 1,308 537 ​ Accumulated NCI end of period (543) 6,335 889 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ SCHMID ​ ​ ​ ​ ​ ​ ​ Technology ​ ​ ​ ​ ​ SCHMID ​ Guangdong Co., ​ SCHMID Taiwan ​ 12/31/2021 Singapore Pte. Ltd. Ltd Ltd. NCI percentage ​ 10.0 % 24.1 % * 14.0 % Non-current assets ​ — ​ 4,876 ​ 197 Current assets ​ 1,698 ​ 23,857 ​ 4,993 Non-current liabilities — 841 66 ​ Current liabilities 7,144 9,518 2,095 ​ Net assets (5,445) 18,374 3,030 ​ Net assets attributable to NCI (545) 4,428 423 ​ Revenue — 9,762 3,954 ​ Profit (33) (13,359) 424 ​ OCI — 753 297 ​ Total comprehensive income (33) (12,606) 721 ​ Total comprehensive income allocated to NCI (3) (2,627) 101 ​ Accumulated NCI end of period (542) 5,026 352 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash flow statement SCHMID Technology Guangdong Co., Ltd in € thousand 2023 2022 2021 Cash flow from operating activities 666 (1,688) (11,650) Cash flow from investing activities (472) (502) (16,449) Cash flow from financing activities (21) (452) 32,313 Effect of foreign exchange rate changes on cash and cash equivalents (119) 116 93 Net increase (decrease) in cash and cash equivalents 262 (2,525) 4,307 ​

FINANCIAL LIABILITIES (Tables)

FINANCIAL LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2023
FINANCIAL LIABILITIES
Schedule of overview of the financial liabilities	​ ​ ​ ​ ​ ​ in € thousand 12/31/2023 12/31/2022 Non-current financial liabilities 22,190 34,406 Current financial liabilities 26,053 128,454 Total financial liabilities 48,244 162,860
Schedule of borrowings	​ ​ ​ ​ ​ ​ in € thousand 12/31/2023 12/31/2022 Non-current borrowings 22,190 34,406 Loans from debt funds — 24,393 Loans from other third parties 2,336 — Loans from shareholders 19,854 10,013 Current borrowings 26,053 128,454 Loans from banks 1,225 12,003 Loans from debt funds — 79,773 Loans from other third parties — 3,540 Loans from shareholders 8,102 16,493 Loans from other related parties 16,726 16,646 Total borrowings 48,244 162,860

OTHER PROVISIONS (Tables)

OTHER PROVISIONS (Tables)	12 Months Ended
	Dec. 31, 2023
OTHER PROVISIONS
Schedule of movement in provisions	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Reversal of ​ ​ ​ ​ ​ ​ ​ ​ ​ unused ​ ​ In € thousand ​ 12/31/2022 ​ Additions ​ Utilization ​ amounts ​ 12/31/2023 Warranty provision 211 211 (184) — 238 Jubilee provision 119 482 (603) — (2) Total non-current provisions 330 693 (787) — 237 Warranty provision 139 152 (66) — 225 Provision for legal claims 67 44 — (58) 53 Other provisions 153 2,308 (1,454) (312) 695 Total current provisions 360 2,504 (1,520) (370) 973 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Reversal of ​ ​ ​ ​ ​ ​ ​ ​ ​ unused ​ ​ In € thousand ​ 12/31/2021 ​ Additions ​ Utilization ​ amounts ​ 12/31/2022 Warranty provision 203 99 (91) — 211 Jubilee provision 163 (30) (14) — 119 Total non-current provisions 366 70 (106) — 330 Warranty provision 228 25 (114) — 139 Provision for legal claims 32 123 (88) — 67 Other provisions 191 7 (45) — 153 Total current provisions 451 155 (247) — 360 ​

POST-EMPLOYMENT BENEFITS (Table

POST-EMPLOYMENT BENEFITS (Tables)	12 Months Ended
	Dec. 31, 2023
POST-EMPLOYMENT BENEFITS
Schedule of reconciliation of the net defined benefit liability	​ ​ ​ ​ ​ ​ ​ ​ In € thousand 2023 2022 2021 Net defined liability at January 1 887 1,173 1,189 Defined benefit income recognized in combined statement of profit or loss 33 14 12 Defined benefit cost recognized in other comprehensive income — 300 28 Net defined liability at December 31 894 887 1,173
Schedule of reconciliation of the amount recognized in the combined statement of financial position	​ ​ ​ ​ ​ ​ ​ ​ In € thousand 2023 2022 2021 Employee benefit obligations recognized as of January 1 887 1,173 1,189 Actuarial adjustments (26) (300) (28) thereof: experience adjustments (2) 2 2 thereof: adjustments for financial assumptions (24) (302) (30) Interest expense 33 14 12 Employee benefit obligations recognized as of December 31 894 887 1,173
Schedule of expense recognized in the combined statements of profit and loss and other comprehensive income	​ ​ ​ ​ ​ ​ ​ ​ In € thousand 2023 2022 2021 Actuarial gains (-) / losses (+) deriving from changes in financial assumptions (24) (302) (30) Actuarial gains (-) / losses (+) deriving from experience adjustments (2) 2 2 Included in other comprehensive income (26) (300) (28) Interest income 33 14 12 Included in the combined statements of profit or loss 33 14 12 Total included in the combined statements of profit or loss and other comprehensive income (loss) 7 (286) (16)
Schedule of principal actuarial assumptions	​ ​ ​ ​ ​ ​ ​ ​ 12/31/2023 12/31/2022 Discount rate 4.00 % 3.75 %
Schedule of sensitivity analysis for actuarial assumptions	​ ​ ​ ​ ​ ​ ​ ​ 12/31/2023 12/31/2022 Discount rate (+0.25%) 4.25 % 4.00 % Present value of the post-employment benefit obligations (in € thousand) 872 862 ​ Discount rate (-0.25%) 3.75 % 3.50 % Present value of the post-employment benefit obligations (in € thousand) 918 912 ​

OTHER CURRENT LIABILITIES (Tabl

OTHER CURRENT LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2023
OTHER CURRENT LIABILITIES
Schedule of other non-financial liabilities	​ ​ ​ ​ ​ ​ in € thousand 12/31/2023 12/31/2022 Personnel related accruals 3,175 2,700 Tax related accruals 1,348 1,481 Audit related accruals 1,297 286 Miscellaneous other current liabilities 7,294 4,239 Total other current liabilities 13,113 8,706

FINANCIAL INSTRUMENTS AND FIN_2

FINANCIAL INSTRUMENTS AND FINANCIAL RISK MANAGEMENT (Tables)	12 Months Ended
	Dec. 31, 2023
FINANCIAL INSTRUMENTS AND FINANCIAL RISK MANAGEMENT
Summary of carrying amounts of each class of financial instruments together with its corresponding fair value and the aggregated carrying amount	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 12/31/2023 Financial instruments, analyzed by classes and categories ​ ​ ​ Carrying ​ ​ ​ Fair value in € thousand ​ Category ​ amount ​ Fair value ​ hierarchy Non-current assets Financial assets Other loans and other investments AC 28 28 n/a Other non-current financial assets AC 112 n/a n/a ​ ​ ​ ​ ​ ​ ​ ​ ​ Current assets Trade receivables and other receivables Trade receivables AC 40,673 n/a n/a Receivables from joint ventures AC 1,599 n/a n/a Other receivables Exit bonus AC 4,700 4,700 n/a Receivables from shareholder AC 107 n/a n/a Other current assets Restricted cash AC 89 n/a n/a Other AC 1,317 n/a n/a Cash and cash equivalents AC 5,710 n/a n/a ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-current liabilities Non-current borrowings Loans from other third parties FLAC 2,336 2,063 Level 3 Loans from shareholders FLAC 19,854 17,630 Level 3 ​ ​ ​ ​ ​ ​ ​ ​ ​ Current liabilities Current borrowings Loans from banks FLAC 1,225 n/a Level 3 Loans from shareholders FLAC 8,102 n/a n/a Loans from other related parties FLAC 16,726 n/a Level 3 Trade payables and other liabilities FLAC 25,899 n/a n/a ​ ​ ​ ​ ​ ​ ​ ​ ​ Carrying Thereof aggregated by categories ​ Category ​ amount Financial assets measured at amortized cost AC 54,335 Financial liabilities measured at fair value FVTPL — Financial liabilities measured at amortized cost FLAC 74,142 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Financial instruments, analyzed by classes and categories ​ 12/31/2022 ​ ​ ​ ​ Carrying ​ ​ ​ Fair value in € thousand ​ Category ​ amount ​ Fair value ​ hierarchy Non-current assets ​ ​ ​ ​ Financial assets Other non-current financial assets AC 115 n/a n/a ​ ​ ​ ​ ​ ​ ​ ​ ​ Current assets Trade receivables and other receivables Trade receivables AC 40,593 n/a n/a Receivables from joint ventures AC 2,656 n/a n/a Other receivables Receivables from shareholder AC 65,158 64,028 Level 3 Miscellaneous receivables AC 431 n/a n/a Other current assets Restricted cash AC 1,049 n/a n/a Other AC 2,637 n/a n/a Cash and cash equivalents AC 8,332 n/a n/a ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-current liabilities Non-current borrowings Loans from debt funds FLAC 24,393 23,072 Level 3 Loans from shareholders FLAC 10,013 9,307 Level 3 ​ ​ ​ ​ ​ ​ ​ ​ ​ Current liabilities Current borrowings Loans from banks FLAC 12,003 11,508 Level 3 Loans from debt funds FLAC 79,773 51,678 Level 3 Loans from other third parties FLAC 3,540 3,483 Level 3 Loans from shareholders FLAC 16,493 n/a n/a Loans from other related parties FLAC 16,646 14,688 Level 3 Trade payables and other liabilities FLAC 25,400 n/a n/a ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Carrying Thereof aggregated by categories Category amount Financial assets measured at amortized cost ​ AC ​ 120,971 Financial liabilities measured at fair value FVTPL — Financial liabilities measured at amortized cost FLAC 188,260
Summary of net gains or losses for each of the financial instrument measurement categories differentiated by the respective sources	​ ​ ​ ​ ​ ​ ​ ​ 2023 Subsequent measurement in € thousand ​ Interest Fair value Total Financial assets - AC 9,499 n/a 9,499 Financial liabilities - FLAC (9,988) n/a (9,988) Financial assets and liabilities - FVTPL n/a — — Total (488) — (488) ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 Subsequent measurement in € thousand ​ Interest Fair value Total Financial assets - AC 4,089 n/a 4,089 Financial liabilities - FLAC (17,650) n/a (17,650) Financial assets and liabilities - FVTPL n/a (1,669) (1,669) Total (13,561) (1,669) (15,230)
Summary of allowances for ECL determined for the different classes of financial assets developed	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Trade receivables ​ ​ ​ Shareholder and ​ ​ - not credit ​ Trade receivables ​ other loans - in € thousand impaired - credit impaired credit impaired Opening Balance 01/01/2022 ​ (8) ​ 1,952 ​ (4,394) Additions ​ (11) ​ — ​ — Utilization — 1,148 — Reversal — 153 2,949 Closing Balance 31/12/2022 (19) 652 (1,445) Additions (118) (198) — Utilization — (11,425) — Reversal — 11,706 1,445 Closing Balance 31/12/2023 (137) (569) —
Summary of the gross carrying amounts by credit-risk rating classes for the several types of financial assets that are not measured at FVTPL	​ ​ ​ ​ ​ ​ ​ ​ Gross Carrying Amounts by Rating Class ​ 12/31/2023 in € thousand ​ Stage 1 ​ Stage 2 ​ Stage 3 General approach Cash and cash equivalents AAA to BBB (Investment grade) 5,710 — — Receivables from shareholders BBB- to CCC (Below investment grade) — 4,807 — Simplified approach Trade receivables and other receivables Current (not past due) — 27,148 (69) 1-30 days past due — 1,423 (11) 31-60 days past due — 597 (6) 61-90 days past due — 651 (7) More than 90 days past due — 3,039 (45) Total 5,710 37,665 (138) ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross Carrying Amounts by Rating Class ​ 12/31/2022 in € thousand ​ Stage 1 ​ Stage 2 ​ Stage 3 General approach Cash and cash equivalents AAA to BBB (Investment grade) 8,332 — — Receivables from shareholders BBB- to CCC (Below investment grade) — 65,158 — Simplified approach Trade receivables and other receivables insured receivables (90%) — 39,312 — non-insured receivables (10%) — 4,368 — Total 8,332 108,838 —
Summary of reconciliation of changes in liabilities arising from financing activities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Lease ​ In € thousand Loans liabilities Total Balance at January 1, 2023 167,111 1,333 168,444 Cash flow from financing activities (excluding changes from restricted cash) (83,812) (819) (84,631) Proceeds from loans — — — Repayments of loans (81,871) — (81,871) Principal elements of lease payment — (715) (715) Interest paid (1,941) (103) (2,044) Changes in the cash flow from financing activities (35,055) 10,372 (24,683) Foreign currency effects — (77) (77) New leases — 10,347 10,347 Accrued interest (35,024) 102 (34,922) Fair value measurement (32) — (32) Balance at December 31, 2023 48,244 10,886 59,130 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Lease ​ In € thousand ​ Loans ​ liabilities ​ Total Balance at January 1, 2022 153,090 1,528 154,618 Cash flow from financing activities (excluding changes from restricted cash) (2,625) (676) (3,301) Proceeds from loans 4,895 — 4,895 Repayments of loans (5,880) — (5,880) Principal elements of lease payment — (609) (609) Interest paid (1,640) (68) (1,708) Changes in the cash flow from financing activities 16,645 482 17,127 Foreign currency effects — (19) (19) New leases — 433 433 Accrued interest 14,609 68 14,677 Fair value measurement 2,036 — 2,036 Balance at December 31, 2022 167,111 1,333 168,444 ​
Liquidity Risk
FINANCIAL INSTRUMENTS AND FINANCIAL RISK MANAGEMENT
Summary of undiscounted cash outflows of financial liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 12/31/2023 ​ ​ Cash outflows within ​ Total cash in € thousand ​ ≤ 1 year > 1 ≤ 2 years > 2 ≤ 5 years > 5 years flows Lease liabilities ​ 2,073 ​ 1,822 ​ 3,372 ​ 3,758 ​ 11,025 Borrowings (including embedded derivatives) 26,053 26,781 — — 52,835 Loans from banks 1,225 — — — 1,225 Loans from debt funds — — — — — Loans from other third parties — 2,778 — — 2,778 Loans from shareholders 8,102 24,004 — — 32,106 Loans from other related parties 16,726 — — — 16,726 Trade payables and other liabilities 25,899 — — — 25,899 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 12/31/2022 ​ ​ Cash outflows within ​ Total cash in € thousand ​ ≤ 1 year > 1 ≤ 2 years > 2 ≤ 5 years > 5 years flows Lease liabilities ​ 564 ​ 465 ​ 446 ​ — ​ 1,476 Borrowings (including embedded derivatives) 111,517 49,914 — — 161,432 Loans from banks 12,221 — — — 12,221 Loans from debt funds 73,262 26,521 — — 99,783 Loans from other third parties 3,702 — — — 3,702 Loans from shareholders 5,000 23,394 — — 28,394 Loans from other related parties 17,332 — — — 17,332 Trade payables and other liabilities 25,400 — — — 25,400
Foreign Currency Risk
FINANCIAL INSTRUMENTS AND FINANCIAL RISK MANAGEMENT
Summary of net exposure	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ currency of exposure ("+" = asset / "()" = liability) - in € thousand functional currency entity 12/31/2023 12/31/2022 ​ EUR CNY USD HKD ​ ​ EUR CNY USD HKD EUR ​ ​ ​ 5,010 3,597 — ​ ​ ​ 5,500 4,669 — CNY ​ 27,217 ​ ​ (1,077) (424) ​ 25,519 ​ ​ (1,139) — USD ​ 17 — ​ ​ — ​ (5,030) — — TWD ​ 1,481 (238) — — ​ 1,378 — — — HKD ​ 2,026 (2,209) — ​ ​ ​ — — — KRW ​ (4,276) — — — ​ (1,838) — — — Total ​ 26,464 2,563 2,520 (424) ​ 20,029 5,500 3,530 —
Summary of impact on profit or loss before tax due to reasonably possible change in each material currency	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ in € thousand 12/31/2023 ​ 12/31/2022 ​ ​ +10% -10% +10% -10% CNY/EUR 2,019 (2,467) ​ ​ 1,820 (2,224) USD/EUR (325) 398 ​ ​ (882) 1,078 TWD/EUR 135 (165) ​ ​ 130 (159) HKD/EUR 184 (225) ​ ​ KRW/EUR (389) 475 ​ ​ (167) 204 CNY/TWD 22 (26) ​ ​ CNY/HKD 158 (203) ​ ​ USD/CNY 98 (120) ​ ​ 104 (127)
Interest Rate Risk
FINANCIAL INSTRUMENTS AND FINANCIAL RISK MANAGEMENT
Summary of impact on profit or loss before tax due to reasonably possible change in each material currency	​ ​ ​ ​ ​ Impact to P/L in € thousand ​ (income (+)/ expense (-)) 12/31/2023 Change in interest rate +1% ​ (296) Change in interest rate -1% ​ 296 12/31/2022 ​ Change in interest rate +1% ​ (1,164) Change in interest rate -1% ​ 1,162

EQUITY-ACCOUNTED INVESTEES (Tab

EQUITY-ACCOUNTED INVESTEES (Tables)	12 Months Ended
	Dec. 31, 2023
EQUITY-ACCOUNTED INVESTEES
Summary of investments classified as joint ventures	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ % of ownership interest ​ Carrying amount (in € thousand) Name of the entity Country of incorporation 12/31/2023 12/31/2022 12/31/2023 12/31/2022 Advanced Energy Storage Systems Investment Company (AES) ​ Kingdom of Saudi Arabia ​ 51 % 51 % ​ — ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ SCHMID AVACO Korea Co. Ltd. (SAK) South Korea 50 % 50 % ​ — — Total equity-accounted investments ​ — —
Summary of financial information on the joint venture which is material to the entity	​ ​ ​ ​ ​ ​ ​ in € thousand 12/31/2023 12/31/2022 % ownership interest ​ 51.3 % 51.3 % Current Assets ​ ​ Cash and cash equivalents 16 ​ 1,144 ​ Other current assets 22 ​ 342 ​ Total current assets 38 ​ 1,486 ​ ​ ​ ​ ​ ​ ​ Non-current assets 3,871 ​ 6,134 ​ ​ ​ ​ ​ ​ ​ Current liabilities ​ ​ Current financial liabilities 2,935 ​ 2,015 ​ Other current liabilities 216 ​ 4,214 ​ Total current liabilities 3,151 ​ 6,229 ​ ​ ​ ​ ​ ​ ​ Non-current liabilities ​ ​ Non-current financial liabilities — ​ 9,177 ​ Other non-current liabilities 3,894 ​ 957 ​ Total non-current liabilities 3,894 ​ 10,134 ​ ​ ​ ​ ​ ​ ​ Net assets (100%) (3,136) ​ (8,742) ​ Book value — ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ in € thousand 2023 2022 % ownership interest ​ 51.3 % 51.3 % Revenue — ​ — ​ Interest income — ​ — ​ Administration expense (221) ​ — ​ R&D and Other expense (351) ​ — ​ Depreciation and amortization (561) ​ (1,106) ​ Interest expense — ​ (292) ​ Tax income 61 ​ 236 ​ Loss from continuing operations (1,025) ​ (3,750) ​ Other comprehensive income — ​ 181 ​ Total comprehensive loss (1,025) ​ (3,932) ​ Dividends received — ​ — ​ ​

RELATED PARTY DISCLOSURES (Tabl

RELATED PARTY DISCLOSURES (Tables)	12 Months Ended
	Dec. 31, 2023
RELATED PARTY DISCLOSURES
Summary of transactions are proceeded with related parties	​ ​ ​ ​ ​ ​ ​ ​ in € thousand 2023 2022 2021 Interest income on loans granted to Shareholder 1,077 526 159 ​ ​ ​ ​ ​ ​ ​ Interest expense on loans received from Key management personnel 12 88 88 Other related parties 558 409 400 Shareholder 737 165 53 ​ ​ ​ ​ ​ ​ ​ Purchases of goods or services Joint ventures 3 2,511 20 Other related parties 236 663 618 ​ ​ ​ ​ ​ ​ ​ Sale of goods or services Joint ventures 427 505 817 Other related parties 11,801 592 797 ​ ​ ​ ​ ​ ​ ​ Salary and Bonus Shareholder 1,149 988 910 Key management personnel 1,562 1,262 1,332 ​ ​ ​ ​ ​ ​ ​ in € thousand 12/31/2023 12/31/2022 Outstanding balances - Liabilities Shareholder 24,102 24,064 Key management personnel 280 2,528 Joint ventures 358 358 Other related parties 25,359 15,345 ​ ​ ​ ​ ​ ​ ​ ​ in € thousand 12/31/2023 12/31/2022 Outstanding balances - Receivables Shareholder 107 67,926 Joint ventures 2,655 951 Other related parties 221 23,062

BUSINESS DESCRIPTION (Details)

BUSINESS DESCRIPTION (Details)	Dec. 31, 2023 employee
BUSINESS DESCRIPTION
Number of employees worldwide	700

BASIS OF PREPARATION (Details)

BASIS OF PREPARATION (Details)	12 Months Ended		24 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023
Advanced Energy Storage Systems Investment Company
Legal entities which comprise combined financial statements and its certain investments in joint ventures accounted for using equity method
Name of joint ventures			Advanced Energy Storage Systems Investment Company
Country of incorporation, joint ventures			Saudi Arabia
Percent of ownership interest in joint ventures	51%	51%
SCHMID Avaco Korea, Co. Ltd
Legal entities which comprise combined financial statements and its certain investments in joint ventures accounted for using equity method
Name of joint ventures			SCHMID Avaco Korea, Co. Ltd.
Country of incorporation, joint ventures			South Korea
Percent of ownership interest in joint ventures	50%	50%
Gebr. Schmid GmbH
Legal entities which comprise combined financial statements and its certain investments in joint ventures accounted for using equity method
Name of subsidiaries			Gebr. Schmid GmbH
Country of incorporation, subsidiaries			Germany
Percent of ownership interest in subsidiaries	100%	100%
SCHMID Systems. Inc.
Legal entities which comprise combined financial statements and its certain investments in joint ventures accounted for using equity method
Name of subsidiaries			SCHMID Systems, Inc.
Country of incorporation, subsidiaries			USA
Percent of ownership interest in subsidiaries	100%	100%
SCHMID Singapore Pte. Ltd.
Legal entities which comprise combined financial statements and its certain investments in joint ventures accounted for using equity method
Name of subsidiaries			SCHMID Singapore Pte. Ltd.
Country of incorporation, subsidiaries			Singapore
Percent of ownership interest in subsidiaries	90%	90%
SCHMID Korea Co. Ltd
Legal entities which comprise combined financial statements and its certain investments in joint ventures accounted for using equity method
Name of subsidiaries			SCHMID Korea Co., Ltd
Country of incorporation, subsidiaries			South Korea
Percent of ownership interest in subsidiaries	100%	100%
SCHMID Asia Ltd. [Member]
Legal entities which comprise combined financial statements and its certain investments in joint ventures accounted for using equity method
Name of subsidiaries			SCHMID Asia Ltd.
Country of incorporation, subsidiaries			Hong Kong
Percent of ownership interest in subsidiaries	100%	100%
SCHMID Technology Guangdong Co. Ltd.
Legal entities which comprise combined financial statements and its certain investments in joint ventures accounted for using equity method
Name of subsidiaries			SCHMID Technology Guangdong Co., Ltd.
Country of incorporation, subsidiaries			China
Percent of ownership interest in subsidiaries	76%	76%
SCHMID China Ltd.
Legal entities which comprise combined financial statements and its certain investments in joint ventures accounted for using equity method
Name of subsidiaries			SCHMID China Ltd.
Country of incorporation, subsidiaries			Hong Kong
Percent of ownership interest in subsidiaries	100%	100%
SCHMID Shenzhen Ltd.
Legal entities which comprise combined financial statements and its certain investments in joint ventures accounted for using equity method
Name of subsidiaries			SCHMID Shenzhen Ltd.
Country of incorporation, subsidiaries			China
Percent of ownership interest in subsidiaries	100%	100%
SCHMID (Kunshan) Co., Ltd
Legal entities which comprise combined financial statements and its certain investments in joint ventures accounted for using equity method
Name of subsidiaries			SCHMID (Kunshan) Co., Ltd.
Country of incorporation, subsidiaries			China
Percent of ownership interest in subsidiaries	100%	100%
SCHMID Taiwan Ltd.
Legal entities which comprise combined financial statements and its certain investments in joint ventures accounted for using equity method
Name of subsidiaries			SCHMID Taiwan Ltd.
Country of incorporation, subsidiaries			Taiwan
Percent of ownership interest in subsidiaries	86%	86%
SCHMID Automation (Zhuhai) Co. Ltd.
Legal entities which comprise combined financial statements and its certain investments in joint ventures accounted for using equity method
Name of subsidiaries			SCHMID Automation (Zhuhai) Co., Ltd.
Country of incorporation, subsidiaries			China
Percent of ownership interest in subsidiaries	100%	100%
SCHMID Solar (Shenzhen) Ltd.
Legal entities which comprise combined financial statements and its certain investments in joint ventures accounted for using equity method
Name of subsidiaries			SCHMID Solar (Shenzhen) Ltd.
Country of incorporation, subsidiaries			China
Percent of ownership interest in subsidiaries	100%	100%
SCHMID Trading (Zhongshan) Co. Ltd.
Legal entities which comprise combined financial statements and its certain investments in joint ventures accounted for using equity method
Name of subsidiaries			SCHMID Trading (Zhongshan) Co. Ltd.
Country of incorporation, subsidiaries			China
Percent of ownership interest in subsidiaries	100%

BASIS OF PREPARATION - Addition

BASIS OF PREPARATION - Additional Information (Details) - EUR (€) € in Thousands	Dec. 31, 2023	Dec. 31, 2022
BASIS OF PREPARATION
Borrowings remaining amount	€ 48,244	€ 162,860
Outstanding borrowings	€ 26,053	€ 128,454

MATERIAL ACCOUNTING POLICIES (D

MATERIAL ACCOUNTING POLICIES (Details)	12 Months Ended
	Dec. 31, 2023
Research and development (R&D) costs | Minimum
MATERIAL ACCOUNTING POLICIES
Intangible assets, useful life	4 years
Research and development (R&D) costs | Maximum
MATERIAL ACCOUNTING POLICIES
Intangible assets, useful life	10 years
Patents and licenses | Minimum
MATERIAL ACCOUNTING POLICIES
Intangible assets, useful life	5 years
Patents and licenses | Maximum
MATERIAL ACCOUNTING POLICIES
Intangible assets, useful life	8 years

MATERIAL ACCOUNTING POLICIES -

MATERIAL ACCOUNTING POLICIES - Property, Plant and Equipment (Details)	12 Months Ended
	Dec. 31, 2023
Buildings and building improvements | Minimum
MATERIAL ACCOUNTING POLICIES
Useful lives of property, plant and equipment	10 years
Buildings and building improvements | Maximum
MATERIAL ACCOUNTING POLICIES
Useful lives of property, plant and equipment	50 years
Technical equipment and machinery | Minimum
MATERIAL ACCOUNTING POLICIES
Useful lives of property, plant and equipment	2 years
Technical equipment and machinery | Maximum
MATERIAL ACCOUNTING POLICIES
Useful lives of property, plant and equipment	21 years
Office and other equipment | Minimum
MATERIAL ACCOUNTING POLICIES
Useful lives of property, plant and equipment	3 years
Office and other equipment | Maximum
MATERIAL ACCOUNTING POLICIES
Useful lives of property, plant and equipment	13 years

MATERIAL ACCOUNTING POLICIES _2

MATERIAL ACCOUNTING POLICIES - Leases (Details)	Dec. 31, 2023
Minimum
MATERIAL ACCOUNTING POLICIES
Term of lease contracts	1 year
Maximum
MATERIAL ACCOUNTING POLICIES
Term of lease contracts	10 years

MATERIAL ACCOUNTING POLICIES _3

MATERIAL ACCOUNTING POLICIES - Revenue Recognition (Details)	12 Months Ended
	Dec. 31, 2023
REVENUE FROM CONTRACTS WITH CUSTOMERS AND COST OF SALES
Long term development contract term	3 years
Sales of machines and spare parts | Minimum
REVENUE FROM CONTRACTS WITH CUSTOMERS AND COST OF SALES
Revenue recognition term	14 days
Invoice payable, contractual terms	30 days
Sales of machines and spare parts | Maximum
REVENUE FROM CONTRACTS WITH CUSTOMERS AND COST OF SALES
Revenue recognition term	21 days
Invoice payable, contractual terms	90 days
Repair services
REVENUE FROM CONTRACTS WITH CUSTOMERS AND COST OF SALES
Invoice payable, contractual terms	30 days
Repair services | Minimum
REVENUE FROM CONTRACTS WITH CUSTOMERS AND COST OF SALES
Revenue recognition term	14 days
Repair services | Maximum
REVENUE FROM CONTRACTS WITH CUSTOMERS AND COST OF SALES
Revenue recognition term	21 days

SIGNIFICANT EVENTS IN THE PER_3

SIGNIFICANT EVENTS IN THE PERIOD ENDED DECEMBER 31, 2023 (Details) - EUR (€) € in Thousands	1 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Financial instruments
Other income		€ 15,985	€ 3,375	€ 1,924
Finance income		19,685	5,758	3,360
Finance expenses		10,091	17,746	18,014
Cash payments		81,871	5,880	€ 1,911
Debt funds
Financial instruments
Beginning balance		(104,166)
Finance income		15,852
Finance expenses		(4,302)
Cash payments		70,000
Non-cash settlement of loans		22,616
Ending balance			(104,166)
Silicon receivables
Financial instruments
Reversal of impairment		21,375
Non-cash settlement of receivables		(17,664)
Non-cash settlement of loans		(2,800)
Other		(911)
Shareholder receivable
Financial instruments
Beginning balance		65,589
Reversal of impairment		1,418
Finance income		3,173
Cash payments	€ 70,000	70,000
Other		(73)
Ending balance		107	€ 65,589
Receivable Silicon exit bonus
Financial instruments
Other income		4,700
Ending balance		4,700
Group14 shares
Financial instruments
Non-cash settlement of receivables		17,664
Non-cash settlement of loans		€ (17,664)

SEGMENT AND GEOGRAPHIC INFORM_3

SEGMENT AND GEOGRAPHIC INFORMATION (Details)	12 Months Ended
	Dec. 31, 2023 segment
SEGMENT AND GEOGRAPHIC INFORMATION
Number of operating segments	2

SEGMENT AND GEOGRAPHIC INFORM_4

SEGMENT AND GEOGRAPHIC INFORMATION - Key financial metrics by segment (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
BASIS OF PREPARATION
Revenue	€ 90,246	€ 95,058	€ 39,481
Segment adjusted EBITDA	39,099	19,937	(2,534)
Technical equipment and processes
BASIS OF PREPARATION
Revenue	78,743	78,778	27,587
Segment adjusted EBITDA	12,872	14,155	1,868
Spare parts and services
BASIS OF PREPARATION
Revenue	11,503	16,280	11,894
Segment adjusted EBITDA	3,787	9,329	6,873
Total management reporting
BASIS OF PREPARATION
Revenue	90,246	95,058	39,481
Segment adjusted EBITDA	39,099	19,937	(2,534)
Other
BASIS OF PREPARATION
Segment adjusted EBITDA	€ 22,440	€ (3,546)	€ (11,276)

SEGMENT AND GEOGRAPHIC INFORM_5

SEGMENT AND GEOGRAPHIC INFORMATION - Reconciliation from total segment adjusted EBITDA to loss before income tax (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
SEGMENT AND GEOGRAPHIC INFORMATION
Total segment adjusted EBITDA	€ 39,099	€ 19,937	€ (2,534)
Financial result	9,594	(11,988)	(14,654)
Depreciation and amortization	(6,904)	(6,283)	(4,893)
Share of profit (loss) in joint ventures	(1,057)
Income tax benefit (expense)	(2,778)	1,924	(5,195)
Income (loss) before income tax	40,732	1,667	(22,082)
Net income (loss) for the period	€ 37,954	€ 3,591	€ (27,277)

SEGMENT AND GEOGRAPHIC INFORM_6

SEGMENT AND GEOGRAPHIC INFORMATION - Revenue can be split into the following geographical areas (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
SEGMENT AND GEOGRAPHIC INFORMATION
Revenue	€ 90,246	€ 95,058	€ 39,481
China
SEGMENT AND GEOGRAPHIC INFORMATION
Revenue	15,308	39,424	17,652
Taiwan
SEGMENT AND GEOGRAPHIC INFORMATION
Revenue	1,634	12,846	3,814
USA
SEGMENT AND GEOGRAPHIC INFORMATION
Revenue	17,522	11,478	3,375
Germany
SEGMENT AND GEOGRAPHIC INFORMATION
Revenue	9,577	10,743	5,390
Malaysia
SEGMENT AND GEOGRAPHIC INFORMATION
Revenue	16,681	7,915
Austria
SEGMENT AND GEOGRAPHIC INFORMATION
Revenue	17,810	3,928	3,793
Other
SEGMENT AND GEOGRAPHIC INFORMATION
Revenue	€ 11,714	€ 8,724	€ 5,457

SEGMENT AND GEOGRAPHIC INFORM_7

SEGMENT AND GEOGRAPHIC INFORMATION - Major customers (Details) € in Thousands	12 Months Ended
	Dec. 31, 2023 EUR (€) customer	Dec. 31, 2022 EUR (€)	Dec. 31, 2021 EUR (€)
Major customers
Number of major customers | customer	3
Revenue	€ 90,246	€ 95,058	€ 39,481
First customer
Major customers
Revenue	17,649	25,092	€ 9,931
Second customer
Major customers
Revenue	16,361	€ 11,876
Third customer
Major customers
Revenue	€ 12,280

SEGMENT AND GEOGRAPHIC INFORM_8

SEGMENT AND GEOGRAPHIC INFORMATION - Non-current assets (Details) - EUR (€) € in Thousands	Dec. 31, 2023	Dec. 31, 2022
SEGMENT AND GEOGRAPHIC INFORMATION
Non-current assets	€ 29,733	€ 30,523
Germany
SEGMENT AND GEOGRAPHIC INFORMATION
Non-current assets	26,853	28,334
China
SEGMENT AND GEOGRAPHIC INFORMATION
Non-current assets	2,504	1,922
Other
SEGMENT AND GEOGRAPHIC INFORMATION
Non-current assets	€ 376	€ 266

REVENUE FROM CONTRACTS WITH C_3

REVENUE FROM CONTRACTS WITH CUSTOMERS AND COST OF SALES - Disaggregation of Revenues (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
REVENUE FROM CONTRACTS WITH CUSTOMERS AND COST OF SALES
Revenue	€ 90,246	€ 95,058	€ 39,481
Revenue recognized at a point in time
REVENUE FROM CONTRACTS WITH CUSTOMERS AND COST OF SALES
Revenue	81,761	89,316	36,832
Revenue recognized over time
REVENUE FROM CONTRACTS WITH CUSTOMERS AND COST OF SALES
Revenue	8,485	5,742	2,649
Machines
REVENUE FROM CONTRACTS WITH CUSTOMERS AND COST OF SALES
Revenue	77,554	73,151	25,626
Spare Parts
REVENUE FROM CONTRACTS WITH CUSTOMERS AND COST OF SALES
Revenue	9,722	14,302	8,081
Service
REVENUE FROM CONTRACTS WITH CUSTOMERS AND COST OF SALES
Revenue	1,781	1,978	3,802
Other
REVENUE FROM CONTRACTS WITH CUSTOMERS AND COST OF SALES
Revenue	€ 1,189	€ 5,627	€ 1,971

REVENUE FROM CONTRACTS WITH C_4

REVENUE FROM CONTRACTS WITH CUSTOMERS AND COST OF SALES - Changes to contract liabilities (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Changes to contract liabilities
Beginning balance	€ 30,569	€ 25,682	€ 17,378
Decrease in Contract Liabilities Attributable to Sales Revenues Included in Contractual Liabilities at the Beginning of the Period	(30,406)	(25,682)	(17,378)
Increase in Contract Liabilities Attributable to Customer Payments Received	17,769	30,569	25,682
Ending balance	€ 17,931	€ 30,569	€ 25,682

REVENUE FROM CONTRACTS WITH C_5

REVENUE FROM CONTRACTS WITH CUSTOMERS AND COST OF SALES - Order backlog (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Minimum
REVENUE FROM CONTRACTS WITH CUSTOMERS AND COST OF SALES
Order backlog revenue recognition period	1 year
Maximum
REVENUE FROM CONTRACTS WITH CUSTOMERS AND COST OF SALES
Order backlog revenue recognition period	3 years
Machines
REVENUE FROM CONTRACTS WITH CUSTOMERS AND COST OF SALES
Amount of goods or services ordered by customers but not delivered or provided	€ 48,651	€ 79,571	€ 60,982
Spare Parts and Service
REVENUE FROM CONTRACTS WITH CUSTOMERS AND COST OF SALES
Amount of goods or services ordered by customers but not delivered or provided	€ 6,380	€ 6,535	€ 7,239

REVENUE FROM CONTRACTS WITH C_6

REVENUE FROM CONTRACTS WITH CUSTOMERS AND COST OF SALES - Cost of sales (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
REVENUE FROM CONTRACTS WITH CUSTOMERS AND COST OF SALES
Personnel expenses	€ (16,690)	€ (16,221)	€ (14,094)
Material expenses	(35,767)	(34,274)	(9,519)
Depreciation/amortization	(4,904)	(4,147)	(2,746)
Other expenses	(6,488)	(7,079)	(4,147)
Total cost of sales	€ (63,849)	€ (61,721)	€ (30,506)

SELLING (Details)

SELLING (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
SELLING
Personnel expenses	€ (8,295)	€ (8,017)	€ (5,535)
Legal and consulting fees	(834)	(873)	(581)
Sales Commission	(241)	(475)	(95)
Distribution related external administration	(1,537)	(582)	(801)
Advertisement	(649)	(428)	(294)
Other expenses	(1,021)	(995)	(545)
Total selling expenses	€ (12,577)	€ (11,369)	€ (7,851)

GENERAL ADMINISTRATION (Details

GENERAL ADMINISTRATION (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
RESEARCH AND DEVELOPMENT EXPENSES
Personnel expenses	€ (4,131)	€ (3,992)	€ (3,692)
Legal and consulting fees	(4,401)	(1,681)	(1,584)
External administrative expenses	(965)	(692)	(529)
Other administrative expenses	(3,042)	(607)	(493)
Total administrative expenses	€ (12,538)	€ (6,973)	€ (6,298)

RESEARCH AND DEVELOPMENT EXPE_3

RESEARCH AND DEVELOPMENT EXPENSES (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
RESEARCH AND DEVELOPMENT EXPENSES
Personnel expenses	€ (2,261)	€ (1,888)	€ (1,319)
Depreciation/amortization	(877)	(910)	(627)
Legal and consulting fees	(587)	(614)	(422)
R&D related external administration	(906)	(856)	(282)
Other research and development expenses	(517)	(549)	(83)
Total research and development expenses	€ (5,148)	€ (4,818)	€ (2,733)

OTHER INCOME (Details)

OTHER INCOME (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Apr. 30, 2023
OTHER INCOME
Foreign currency gains	€ 2,969	€ 1,503	€ 538
Bonus payments	9,200
Other miscellaneous income	3,815	1,871	1,387
Total other income	€ 15,985	3,375	1,924
Annual percentage to be paid	1.50%
Exit bonus receivable	€ 4,500
Sale leaseback cancellation gain	1,875
Government grant income	356	€ 519	€ 123
Income from asset disposals	508
Silicon
OTHER INCOME
Exit bonus income	4,700
Exit bonus receivable	4,700
Montratec GmbH
OTHER INCOME
Exit bonus income	4,500
Exit bonus receivable				€ 3,954
Montratec Sarl
OTHER INCOME
Exit bonus income	4,500
Securities purchase agreement guarantee	€ 4,500
Schmid Grundstcke GmbH & Co. KG
OTHER INCOME
Exit bonus receivable				€ 546

OTHER EXPENSES (Details)

OTHER EXPENSES (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
OTHER EXPENSES
Foreign currency losses	€ (2,388)	€ (2,399)	€ (2,942)
Other taxes	(166)	(122)	(776)
Disposal of assets		(231)	(154)
Miscellaneous other items	(65)	(236)	(908)
Total other expenses	€ (2,620)	€ (2,988)	€ (4,779)

REVERSAL OF IMPAIRMENT OF FIN_3

REVERSAL OF IMPAIRMENT OF FINANCIAL ASSETS, NET (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
REVERSAL OF IMPAIRMENT OF FINANCIAL ASSETS, NET
(Impairment) / Reversal on impairment on financial assets	€ 22,696	€ 3,091	€ 3,333
Reversal of receivables from the Silicon Group
REVERSAL OF IMPAIRMENT OF FINANCIAL ASSETS, NET
(Impairment) / Reversal on impairment on financial assets	21,375
Shareholder loan (included in trade and other receivables)
REVERSAL OF IMPAIRMENT OF FINANCIAL ASSETS, NET
(Impairment) / Reversal on impairment on financial assets	1,418	€ 3,091	3,284
Other
REVERSAL OF IMPAIRMENT OF FINANCIAL ASSETS, NET
(Impairment) / Reversal on impairment on financial assets	€ (97)		€ 49

FINANCIAL RESULT (Details)

FINANCIAL RESULT (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
FINANCIAL RESULT
Finance income	€ 19,685	€ 5,758	€ 3,360
thereof fair value changes		1,669	124
thereof interest income and similar proceeds	3,883	4,089	3,236
thereof gain from loan extinguishment	15,802
Finance expenses	(10,091)	(17,746)	(18,014)
thereof interest portion of lease payments	(103)	(68)	(49)
thereof interest expense	(9,988)	(17,678)	(17,965)
Financial result	€ 9,594	€ (11,988)	€ (14,654)

SHARE OF PROFIT (LOSS) IN JOI_2

SHARE OF PROFIT (LOSS) IN JOINT VENTURES (Details) € in Thousands	Dec. 31, 2023 EUR (€)
SHARE OF PROFIT (LOSS) IN JOINT VENTURES
Investment in joint venture	€ 0

INCOME TAXES - Income Tax Benef

INCOME TAXES - Income Tax Benefit (Expense) (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
INCOME TAXES
Current income tax (expense) / income	€ (1,044)	€ (2,908)	€ (1,839)
thereof prior years	168	(6)	(35)
Deferred tax (expense) / income	(1,735)	4,832	(3,357)
thereof temporary differences	(1,853)	12,693	(12,367)
thereof tax loss/interest carryforwards	118	(7,861)	9,010
Income tax as per statement of profit or loss	€ (2,778)	€ 1,924	€ (5,195)

INCOME TAXES - (Details)

INCOME TAXES - (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
INCOME TAXES
Corporation tax rate	15%
Solidarity surcharge	5.50%
Trade tax rate	13.30%
Overall tax rate	29.125%	29.125%	29.125%

INCOME TAXES - Tax Rate Reconci

INCOME TAXES - Tax Rate Reconciliation (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
INCOME TAXES
Income (loss) before income tax	€ 40,732	€ 1,667	€ (22,082)
Income tax rate	29.125%	29.125%	29.125%
Corporation tax rate	15%
Expected income tax income (expense)	€ (11,863)	€ (485)	€ 6,431
Tax rate differences	891	911	(2,270)
Non-deductible expenses	(79)	(573)	(1,204)
Tax -free income	1,263	495	2,755
Trade tax modifications	(116)	(269)	(417)
Tax effects from withholding tax	(166)	(370)	(1,485)
Tax effects from prior years	488	642	634
Permanent differences resulting from the statement of financial position	2,912	(8)	(2,486)
Loss utilisation of previously not recognized tax loss carryforwards	0	1,152	556
Change in valuation allowance from temporary differences and tax loss carryforwards	3,598	927	(4,904)
Change from interest carryforwards	333	(957)	(2,827)
Other reconciling items	(38)	460	21
Income tax as per statement of profit or loss	€ (2,778)	€ 1,924	€ (5,195)
Effective tax rate in %	6.82%	(115.46%)	(23.53%)

INCOME TAXES - Deferred tax ass

INCOME TAXES - Deferred tax assets ("DTA") and deferred tax liabilities ("DTL") recognition (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
INCOME TAXES
Deferred tax (expense) / income	€ (1,735)	€ 4,832	€ (3,357)
Deferred tax assets	2,543	2,594
Deferred tax liabilities	(4,388)	(2,504)
DTA, Netting	(18,920)	(33,619)
DTL, Netting	18,920	33,619
DTA, Recognition in the statement of financial position	2,543	2,594
DTL, Recognition in the statement of financial position	(4,388)	(2,504)
Non-current assets
INCOME TAXES
Deferred tax (expense) / income	(13,373)	9,460
Currency translation adjustments	(116)	(44)
Deferred tax assets	3,628	15,085
Deferred tax liabilities	(6,970)	(4,937)
Intangible assets
INCOME TAXES
Deferred tax (expense) / income	239	(28)
Currency translation adjustments	(126)	45
Deferred tax assets	1,843	2,084
Deferred tax liabilities	(4,193)	(4,547)
Property, plant and equipment
INCOME TAXES
Deferred tax (expense) / income	(2,167)	(78)
Currency translation adjustments	9	1
Deferred tax assets	155	153
Deferred tax liabilities	(2,542)	(381)
Financial assets
INCOME TAXES
Deferred tax (expense) / income	(11,444)	9,566
Currency translation adjustments	1
Deferred tax assets	1,630	12,848
Deferred tax liabilities	(235)	(9)
Inventories
INCOME TAXES
Deferred tax (expense) / income	(487)	51
Currency translation adjustments	(6)	(3)
Deferred tax assets	220	246
Deferred tax liabilities	(598)	(131)
Trade receivables and other receivables
INCOME TAXES
Deferred tax (expense) / income	15,526	(18,193)
Currency translation adjustments	52	70
Deferred tax assets	149	1,554
Deferred tax liabilities	(3,985)	(20,969)
Other current assets
INCOME TAXES
Deferred tax (expense) / income	(899)	(96)
Currency translation adjustments	3	2
Deferred tax liabilities	(956)	(60)
Cash and cash equivalents
INCOME TAXES
Deferred tax (expense) / income	(31)
Currency translation adjustments	1
Deferred tax assets	13
Deferred tax liabilities	(44)
Current assets
INCOME TAXES
Deferred tax (expense) / income	14,109	(18,238)
Currency translation adjustments	49	70
Deferred tax assets	382	1,801
Deferred tax liabilities	(5,584)	(21,161)
Non-current liabilities
INCOME TAXES
Deferred tax (expense) / income	3,288	8,138
Deferred taxes in other comprehensive income	(7)	(88)
Currency translation adjustments	(8)	(577)
Deferred tax assets	2,813	348
Deferred tax liabilities	(7,757)	(8,571)
Non-current financial liabilities
INCOME TAXES
Deferred tax (expense) / income		7,334
Deferred tax liabilities		(8,287)
Non-current borrowings
INCOME TAXES
Deferred tax (expense) / income	868
Currency translation adjustments	4
Deferred tax assets	17
Deferred tax liabilities	(7,433)
Provisions for pensions
INCOME TAXES
Deferred tax (expense) / income	52	513
Deferred taxes in other comprehensive income	(7)	(88)
Currency translation adjustments	(7)	(575)
Deferred tax assets	140	93
Deferred tax liabilities	(67)	(65)
Non-current provisions
INCOME TAXES
Deferred tax (expense) / income	(161)	256
Currency translation adjustments		(1)
Deferred tax assets	60	120
Deferred tax liabilities	(257)	(155)
Non-current lease liability
INCOME TAXES
Deferred tax (expense) / income	2,529	35
Currency translation adjustments	(5)	(1)
Deferred tax assets	2,596	136
Deferred tax liabilities		(64)
Current liabilities
INCOME TAXES
Deferred tax (expense) / income	(8,820)	13,333
Currency translation adjustments	(124)	(67)
Deferred tax assets	8,472	15,871
Deferred tax liabilities	(2,998)	(1,453)
Current financial liabilites
INCOME TAXES
Deferred tax (expense) / income		8,367
Deferred tax assets		11,223
Current borrowings
INCOME TAXES
Deferred tax (expense) / income	(7,995)
Deferred tax assets	3,803
Deferred tax liabilities	(575)
Current contract liabilities
INCOME TAXES
Deferred tax (expense) / income	(929)	2,351
Currency translation adjustments	(10)	(4)
Deferred tax assets	1,525	2,464
Trade payables and other liabilities
INCOME TAXES
Deferred tax (expense) / income	520	1,209
Currency translation adjustments	(109)	(51)
Deferred tax assets	1,600	1,281
Deferred tax liabilities	(665)	(757)
Other current liabilities
INCOME TAXES
Deferred tax (expense) / income	629	676
Currency translation adjustments	(20)	(5)
Deferred tax assets	1,104	545
Deferred tax liabilities	(30)	(80)
Current lease liability
INCOME TAXES
Deferred tax (expense) / income	121	27
Currency translation adjustments	(4)	(1)
Deferred tax assets	210	93
Current provisions
INCOME TAXES
Deferred tax (expense) / income	(1,166)	704
Currency translation adjustments	19	(5)
Deferred tax assets	230	266
Deferred tax liabilities	(1,727)	(616)
Tax loss/interest carryforward
INCOME TAXES
Deferred tax (expense) / income	3,061	(7,861)
Currency translation adjustments	(2)	12
Deferred tax assets	6,167	3,108
Tax Loss Carryforward (CIT)
INCOME TAXES
Deferred tax (expense) / income	1,693	(4,535)
Currency translation adjustments	(2)	12
Deferred tax assets	3,408	1,717
Tax Loss Carryforward (Trade Tax)
INCOME TAXES
Deferred tax (expense) / income	1,368	(3,326)
Deferred tax assets	2,759	1,392
Gross value
INCOME TAXES
Deferred tax (expense) / income	(1,735)	4,832
Deferred taxes in other comprehensive income	(7)	(88)
Currency translation adjustments	(194)	(606)
Deferred tax assets	21,463	36,213
Deferred tax liabilities	€ (23,308)	€ (36,122)

INCOME TAXES - Deferred tax a_2

INCOME TAXES - Deferred tax assets not recognized (Details) - EUR (€) € in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
INCOME TAXES
Deductible temporary differences, Tax base	€ 41,498	€ 34,149	€ 65,199
Tax loss carryforward (CIT), Tax base	91,405	108,229	75,903
Tax loss carryforward (trade tax), Tax base	49,147	65,308	45,834
Interest carryforward, Tax base	35,229	36,956	33,209
Deductible temporary differences, DTA	10,805	8,984	18,070
Tax loss carryforward (CIT), DTA	14,701	17,415	12,641
Tax loss carryforward (trade tax), DTA	6,536	8,686	6,096
Interest carryforward, DTA	€ 9,089	€ 9,535	€ 8,568

INCOME TAXES - Maturities of th

INCOME TAXES - Maturities of the tax loss carryforwards (Details) - EUR (€) € in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
INCOME TAXES
Tax loss carryforwards for which no deferred tax assets, subject to expiration	€ 0
Unlimited tax loss carryforwards for which no deferred tax assets	131,586	€ 162,177	€ 113,216
Up to 5 years
INCOME TAXES
Unlimited tax loss carryforwards for which no deferred tax assets	2,685	5,107	3,310
Up to 10 years
INCOME TAXES
Unlimited tax loss carryforwards for which no deferred tax assets	1,772	1,064	927
Up to 15 years
INCOME TAXES
Unlimited tax loss carryforwards for which no deferred tax assets	€ 4,508	€ 5,187	3,943
Up to 20 years
INCOME TAXES
Unlimited tax loss carryforwards for which no deferred tax assets			€ 340

INCOME TAXES - Additional infor

INCOME TAXES - Additional information (Details) - EUR (€) € in Thousands	Mar. 27, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Line Items]
Taxable temporary differences associated with investments in entities, branches and associates and interests in joint arrangements not been recognized		€ 931	€ 937
Deferred tax assets exceeding deferred tax liabilities for companies that generated a loss in the current or previous period recognized		€ 522	€ 2,594
Maximum amount of benefit that could be recognized due to change in loss deduction rate	€ 522
Minimum
Income Tax Disclosure [Line Items]
Loss deduction rate	60%
Maximum
Income Tax Disclosure [Line Items]
Loss deduction rate	70%

INTANGIBLE ASSETS (Details)

INTANGIBLE ASSETS (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
MATERIAL ACCOUNTING POLICIES
Beginning balance	€ 15,828	€ 15,976
Ending balance	14,966	15,828
Costs of acquisition
MATERIAL ACCOUNTING POLICIES
Beginning balance	23,874	29,429
Additions	3,274	3,607
Disposals/Retirements		(9,162)
Foreign exchange differences	(46)	(1)
Ending balance	27,102	23,874
Accumulated amortization/write downs
MATERIAL ACCOUNTING POLICIES
Beginning balance	(8,046)	(13,454)
Amortization	4,133	3,609
Disposals/Retirements		9,015
Foreign exchange differences	(44)	(2)
Ending balance	(12,136)	(8,046)
Development Costs
MATERIAL ACCOUNTING POLICIES
Beginning balance	15,337	15,794
Ending balance	14,278	15,337
Development Costs | Costs of acquisition
MATERIAL ACCOUNTING POLICIES
Beginning balance	22,832	22,968
Additions	2,915	3,219
Disposals/Retirements		(3,355)
Foreign exchange differences	(17)
Ending balance	25,729	22,832
Development Costs | Accumulated amortization/write downs
MATERIAL ACCOUNTING POLICIES
Beginning balance	(7,495)	(7,174)
Amortization	3,975	3,529
Disposals/Retirements		3,208
Foreign exchange differences	(17)
Ending balance	(11,452)	(7,495)
Patents and licenses
MATERIAL ACCOUNTING POLICIES
Beginning balance	490	181
Ending balance	689	490
Patents and licenses | Costs of acquisition
MATERIAL ACCOUNTING POLICIES
Beginning balance	1,042	6,461
Additions	359	389
Disposals/Retirements		(5,807)
Foreign exchange differences	(28)	(1)
Ending balance	1,372	1,042
Patents and licenses | Accumulated amortization/write downs
MATERIAL ACCOUNTING POLICIES
Beginning balance	(552)	(6,280)
Amortization	158	80
Disposals/Retirements		5,807
Foreign exchange differences	(26)	(2)
Ending balance	€ (684)	€ (552)

INTANGIBLE ASSETS - Additional

INTANGIBLE ASSETS - Additional Information (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
INTANGIBLE ASSETS
Retirements relate to intangibles assets with a net book value	€ 0
Amount of borrowing costs capitalised	€ 494	€ 640
Capitalisation rate	10%	10%
Amount deducted from the capitalized book value	€ 159	€ 268	€ 723
Pre-tax discount rate	12.89%	11.17%

PROPERTY, PLANT AND EQUIPMENT_2

PROPERTY, PLANT AND EQUIPMENT (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
MATERIAL ACCOUNTING POLICIES
Beginning balance	€ 13,361	€ 13,899
Ending balance	5,704	13,361
Gross carrying amounts
MATERIAL ACCOUNTING POLICIES
Beginning balance	54,127	55,318
Additions	3,602	1,423
Disposals/Retirements	24,991	2,507
Foreign exchange differences	(289)	(107)
Ending balance	32,449	54,127
Accumulated depreciation
MATERIAL ACCOUNTING POLICIES
Beginning balance	(40,766)	(41,419)
Depreciation	2,048	1,865
Disposals/Retirements	(15,856)	(2,426)
Foreign exchange differences	(214)	(92)
Ending balance	(26,744)	(40,766)
Land, buildings and leasehold improvements
MATERIAL ACCOUNTING POLICIES
Beginning balance	9,722	10,046
Ending balance	149	9,722
Land, buildings and leasehold improvements | Gross carrying amounts
MATERIAL ACCOUNTING POLICIES
Beginning balance	21,303	21,143
Additions		161
Disposals/Retirements	21,085
Foreign exchange differences	1
Ending balance	220	21,303
Land, buildings and leasehold improvements | Accumulated depreciation
MATERIAL ACCOUNTING POLICIES
Beginning balance	(11,581)	(11,097)
Depreciation	483	484
Disposals/Retirements	(11,995)
Foreign exchange differences	1
Ending balance	(71)	(11,581)
Technical equipment and machinery
MATERIAL ACCOUNTING POLICIES
Beginning balance	2,371	2,126
Ending balance	3,016	2,371
Technical equipment and machinery | Gross carrying amounts
MATERIAL ACCOUNTING POLICIES
Beginning balance	18,263	18,692
Additions	1,679	940
Disposals/Retirements	3,448	1,638
Transfers		333
Foreign exchange differences	(164)	(64)
Ending balance	16,330	18,263
Technical equipment and machinery | Accumulated depreciation
MATERIAL ACCOUNTING POLICIES
Beginning balance	(15,892)	(16,566)
Depreciation	982	964
Disposals/Retirements	(3,447)	(1,585)
Foreign exchange differences	(114)	(53)
Ending balance	(13,314)	(15,892)
Office and other equipment
MATERIAL ACCOUNTING POLICIES
Beginning balance	1,268	1,383
Ending balance	2,027	1,268
Office and other equipment | Gross carrying amounts
MATERIAL ACCOUNTING POLICIES
Beginning balance	14,561	15,139
Additions	1,410	323
Disposals/Retirements	458	858
Foreign exchange differences	(126)	(43)
Ending balance	15,386	14,561
Office and other equipment | Accumulated depreciation
MATERIAL ACCOUNTING POLICIES
Beginning balance	(13,293)	(13,756)
Depreciation	583	417
Disposals/Retirements	(414)	(842)
Foreign exchange differences	(101)	(38)
Ending balance	(13,359)	(13,293)
Assets under construction
MATERIAL ACCOUNTING POLICIES
Beginning balance		345
Ending balance	513
Assets under construction | Gross carrying amounts
MATERIAL ACCOUNTING POLICIES
Beginning balance		345
Additions	513
Disposals/Retirements		12
Transfers		€ (333)
Ending balance	€ 513

PROPERTY, PLANT AND EQUIPMENT -

PROPERTY, PLANT AND EQUIPMENT - Additional Information (Details) - EUR (€) € in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
PROPERTY, PLANT AND EQUIPMENT
Right-of-use assets	€ 9,063	€ 1,334	€ 1,513

LEASES - Carrying amounts of ri

LEASES - Carrying amounts of right-of-use assets recognized and the movements during period (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
MATERIAL ACCOUNTING POLICIES
Beginning balance	€ 1,334	€ 1,513
Additions to right-of-use assets	8,581	480
Depreciation	(779)	(642)	€ (487)
Foreign exchange differences	(73)	(17)
Ending balance	9,063	1,334	1,513
Real Estate
MATERIAL ACCOUNTING POLICIES
Beginning balance	906	1,207
Additions to right-of-use assets	8,402	144
Depreciation	(543)	(430)
Foreign exchange differences	(68)	(15)
Ending balance	8,697	906	1,207
Vehicles
MATERIAL ACCOUNTING POLICIES
Beginning balance	428	306
Additions to right-of-use assets	178	336
Depreciation	(236)	(211)
Foreign exchange differences	(5)	(2)
Ending balance	€ 365	€ 428	€ 306

LEASES - Additional Information

LEASES - Additional Information (Details)	1 Months Ended	12 Months Ended
	Dec. 31, 2023 EUR (€) lease	Dec. 31, 2023 EUR (€) lease	Dec. 31, 2022 EUR (€)	Dec. 31, 2021 EUR (€)
LEASES
Purchase price	€ 11,400,000	€ 11,400,000
Lease term	10 years
Number of times that lease term can be extended by 5 years each time | lease	3	3
Lease payment	€ 100,000	€ 100,000
Increase in right-of-use asset	7,092,000	7,092,000
Lease liability	8,895,000	€ 8,895,000
Gain on sale	€ 507,000
Weighted average IBR (Percentage)	6.03%	6.03%	5.49%
Variable lease payments		€ 0
Lease income per month		10,000
Minimum lease payments to be received	€ 115,000	115,000	€ 115,000	€ 115,000
Sublease income per month		€ 3,000

LEASES - Lease Liabilities (Det

LEASES - Lease Liabilities (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
LEASES
Beginning balance	€ 1,333	€ 1,528
Additions	10,347	433
Interest	102	68
Payment of lease liabilities	(819)	(676)
Foreign exchange difference	(77)	(19)
Ending balance	€ 10,886	€ 1,333

LEASES - Lease related expense

LEASES - Lease related expense (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
LEASES
Depreciation	€ (779)	€ (642)	€ (487)
Interest expense on lease liabilities	(103)	(68)	(49)
Short-term lease expenses	(383)	(523)	(341)
Lease expenses for low-value assets	(7)	(28)	(68)
Total amount recognized in expense	€ (1,273)	€ (1,260)	€ (945)

LEASES - Information on total c

LEASES - Information on total cash outflow from all leases (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
LEASES
Principal paid	€ (715)	€ (609)	€ (451)
Interest paid	(103)	(68)	(49)
Short term and low value leases	(391)	(551)	(409)
Total amount paid	€ (1,209)	€ (1,227)	€ (908)

LEASES - Maturity analysis (Det

LEASES - Maturity analysis (Details) - EUR (€) € in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of Maturity Analysis of Lease Payments [Line Items]
Gross lease liabilities - minimum lease payments	€ 14,130	€ 1,476
Discount and foreign currency effects	(3,244)	143
Present value of the lease liabilities	10,886	1,333	€ 1,528
Not later than 1 year
Disclosure of Maturity Analysis of Lease Payments [Line Items]
Gross lease liabilities - minimum lease payments	2,108	564
Later than 1 year and not later than 2 years
Disclosure of Maturity Analysis of Lease Payments [Line Items]
Gross lease liabilities - minimum lease payments	1,928	465
Later than 2 year and not later than five years
Disclosure of Maturity Analysis of Lease Payments [Line Items]
Gross lease liabilities - minimum lease payments	4,081	€ 446
Later than 5 years
Disclosure of Maturity Analysis of Lease Payments [Line Items]
Gross lease liabilities - minimum lease payments	€ 6,014

INVENTORIES (Details)

INVENTORIES (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
INVENTORIES
Raw materials and supplies	€ 4,386	€ 5,513
Work in progress	6,038	11,098
Finished goods	5,928	8,419
Inventories	16,353	25,029
Inventory write-downs	1,052	833	€ 69
Reversals of impairment, inventories	83	23	1
Inventories recognized as expense	€ 25,026	€ 28,954	€ 9,293

TRADE RECEIVABLES AND OTHER R_3

TRADE RECEIVABLES AND OTHER RECEIVABLES (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
TRADE RECEIVABLES AND OTHER RECEIVABLES
Trade receivables	€ 40,626	€ 40,593
Receivables from joint ventures	1,599	2,656
Other receivables	4,807	65,589
Total trade and other receivables	47,032	108,838
Decrease in other receivables attributable to repayment of shareholder loan receivable	107	€ 65,158
Receivable for Silicon bonus payment	€ 4,500

TRADE RECEIVABLES AND OTHER R_4

TRADE RECEIVABLES AND OTHER RECEIVABLES - Additional Information (Details) € in Thousands	Dec. 31, 2023 EUR (€)
TRADE RECEIVABLES AND OTHER RECEIVABLES
Exit bonus receivable	€ 4,500
Silicon
TRADE RECEIVABLES AND OTHER RECEIVABLES
Exit bonus receivable	€ 4,700

OTHER CURRENT ASSETS (Details)

OTHER CURRENT ASSETS (Details) - EUR (€) € in Thousands	Dec. 31, 2023	Dec. 31, 2022
OTHER CURRENT ASSETS
Advance payments on inventories	€ 1,317	€ 2,635
Restricted cash	89	1,049
Prepaid expenses	3,667	730
Contract assets		401
Total other current non-financial assets	€ 5,073	€ 4,815

CASH & CASH EQUIVALENTS (Detail

CASH & CASH EQUIVALENTS (Details) - EUR (€) € in Thousands	Dec. 31, 2023	Dec. 31, 2022
CASH & CASH EQUIVALENTS
Deposits on bank accounts	€ 5,710	€ 8,332

NON-CONTROLLING INTEREST (Detai

NON-CONTROLLING INTEREST (Details)	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Jun. 30, 2021
XJ Harbour HK Limited
NON-CONTROLLING INTEREST
NCI percentage				20.90%
SCHMID Singapore Pte. Ltd.
NON-CONTROLLING INTEREST
NCI percentage	10%	10%	10%
SCHMID Technology Guangdong Co. Ltd.
NON-CONTROLLING INTEREST
NCI percentage	24.10%	24.10%	24.10%
SCHMID Taiwan Ltd.
NON-CONTROLLING INTEREST
NCI percentage	14%	14%	14%

NON-CONTROLLING INTEREST - Enti

NON-CONTROLLING INTEREST - Entity that has material NCI (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
NON-CONTROLLING INTEREST
Non-current assets	€ 32,416	€ 33,232
Current assets	74,166	147,014
Non-current liabilities	37,081	38,968
Current liabilities	87,343	195,594
Revenue	90,246	95,058	€ 39,481
Income (loss) for the period	37,954	3,591	(27,277)
Other comprehensive income (loss)	(1,607)	(290)	150
Total comprehensive income (loss)	36,346	3,301	(27,127)
Total comprehensive income allocated to NCI	677	1,845	€ (2,530)
Accumulated NCI end of period	€ 7,358	€ 6,681
SCHMID Singapore Pte. Ltd.
NON-CONTROLLING INTEREST
NCI percentage	10%	10%	10%
Current assets	€ 2,797	€ 1,651	€ 1,698
Current liabilities	2,062	7,104	7,144
Net assets	736	(5,453)	(5,445)
Net assets attributable to NCI	74	(545)	(545)
Income (loss) for the period	6,188	(7)	(33)
Total comprehensive income (loss)	6,188	(7)	(33)
Total comprehensive income allocated to NCI	619	(1)	(3)
Accumulated NCI end of period	€ 77	€ (543)	€ (542)
SCHMID Technology Guangdong Co. Ltd.
NON-CONTROLLING INTEREST
NCI percentage	24.10%	24.10%	24.10%
Non-current assets	€ 5,118	€ 4,575	€ 4,876
Current assets	42,569	46,040	23,857
Non-current liabilities	847	568	841
Current liabilities	22,288	26,244	9,518
Net assets	24,552	23,804	18,374
Net assets attributable to NCI	5,917	5,737	4,428
Revenue	27,750	38,753	9,762
Income (loss) for the period	2,298	6,068	(13,359)
Other comprehensive income (loss)	(1,550)	(639)	753
Total comprehensive income (loss)	748	5,429	(12,606)
Total comprehensive income allocated to NCI	180	1,308	(2,627)
Accumulated NCI end of period	€ 6,487	€ 6,335	€ 5,026
SCHMID Taiwan Ltd.
NON-CONTROLLING INTEREST
NCI percentage	14%	14%	14%
Non-current assets	€ 185	€ 71	€ 197
Current assets	11,827	12,704	4,993
Non-current liabilities	605	694	66
Current liabilities	5,182	5,203	2,095
Net assets	6,224	6,879	3,030
Net assets attributable to NCI	868	960	423
Revenue	1,672	12,873	3,954
Income (loss) for the period	(402)	4,152	424
Other comprehensive income (loss)	(252)	(303)	297
Total comprehensive income (loss)	(654)	3,849	721
Total comprehensive income allocated to NCI	(91)	537	101
Accumulated NCI end of period	€ 794	€ 889	€ 352

NON-CONTROLLING INTEREST - Cash

NON-CONTROLLING INTEREST - Cash flow statement (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
NON-CONTROLLING INTEREST
Cash flow from operating activities	€ 9,897	€ 280	€ (10,285)
Cash flow from investing activities	72,019	(7,168)	(7,537)
Cash flow from financing activities	(83,714)	(3,165)	35,674
Effect of foreign exchange rate changes on cash and cash equivalents	(824)
SCHMID Technology Guangdong Co. Ltd.
NON-CONTROLLING INTEREST
Cash flow from operating activities	666	(1,688)	(11,650)
Cash flow from investing activities	(472)	(502)	(16,449)
Cash flow from financing activities	(21)	(452)	32,313
Effect of foreign exchange rate changes on cash and cash equivalents	(119)	116	93
Net increase (decrease) in cash and cash equivalents	€ 262	€ (2,525)	€ 4,307

FINANCIAL LIABILITIES (Details)

FINANCIAL LIABILITIES (Details) - EUR (€) € in Thousands	Dec. 31, 2023	Dec. 31, 2022
FINANCIAL LIABILITIES
Non-current financial liabilities	€ 22,190	€ 34,406
Current financial liabilities	26,053	128,454
Total financial liabilities	€ 48,244	€ 162,860

FINANCIAL LIABILITIES - Borrowi

FINANCIAL LIABILITIES - Borrowings (Details) - EUR (€) € in Thousands	Dec. 31, 2023	Dec. 31, 2022
Non-current borrowings
Non-current borrowings	€ 22,190	€ 34,406
Current borrowings
Current borrowings	26,053	128,454
Total borrowings	48,244	162,860
Loans from banks
Current borrowings
Current borrowings	1,225	12,003
Loans from debt funds
Non-current borrowings
Non-current borrowings		24,393
Current borrowings
Current borrowings		79,773
Loans from other third parties
Non-current borrowings
Non-current borrowings	2,336
Current borrowings
Current borrowings		3,540
Loans from shareholders
Non-current borrowings
Non-current borrowings	19,854	10,013
Current borrowings
Current borrowings	8,102	16,493
Total borrowings	19,854,000
Loans from other related parties
Current borrowings
Current borrowings	€ 16,726	€ 16,646

FINANCIAL LIABILITIES - Narrati

FINANCIAL LIABILITIES - Narratives (Details) € in Thousands	1 Months Ended	12 Months Ended
	Aug. 31, 2023 EUR (€)	Dec. 31, 2023 EUR (€) loan item	Dec. 31, 2022 EUR (€)	Dec. 31, 2021 EUR (€)	Dec. 31, 2016 EUR (€)
FINANCIAL LIABILITIES
Cash payments		€ 81,871	€ 5,880	€ 1,911
Borrowings remaining amount		€ 48,244	€ 162,860
Loans from debt funds
FINANCIAL LIABILITIES
Number of loans | loan		5
Number of loan providers | item		2
Loans from banks
FINANCIAL LIABILITIES
Number of loans | loan		2
Number of loans repaid | loan		3
Loans from other third parties
FINANCIAL LIABILITIES
Cash payments	€ 1,234
Interest rate margin	3%
Debt term	2 years
Loans from shareholders
FINANCIAL LIABILITIES
Interest rate margin		1%
Loans waived					€ 5,000
Borrowings remaining amount		€ 19,854,000
Borrowing floor rate		0.25%
Loans from Shareholder One
FINANCIAL LIABILITIES
Loan facilities					15,000
Loans from Shareholder Two
FINANCIAL LIABILITIES
Loan facilities					€ 11,000

FINANCIAL LIABILITIES - Share o

FINANCIAL LIABILITIES - Share option (Details) - SCHMID Technology Guangdong Co. Ltd. - EUR (€) € in Millions	Jul. 01, 2022	Dec. 31, 2021
FINANCIAL LIABILITIES
Percentage of interest acquired		20.90%
Consideration transferred		€ 25
Investor
FINANCIAL LIABILITIES
Percentage of interest acquired	5.60%	3.20%
Consideration transferred		€ 5

OTHER PROVISIONS (Details)

OTHER PROVISIONS (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Non-current provisions
Beginning balance, non-current	€ 330	€ 366
Additions, non-current	693	70
Utilization, non-current	(787)	(106)
Ending balance, non-current	237	330
Current provisions
Beginning balance, current	360	451
Additions, current	2,504	155
Utilization, current	(1,520)	(247)
Reversal of unused amount, current	(370)
Ending balance, current	973	360
Warranty provision
Non-current provisions
Beginning balance, non-current	211	203
Additions, non-current	211	99
Utilization, non-current	(184)	(91)
Ending balance, non-current	238	211
Current provisions
Beginning balance, current	139	228
Additions, current	152	25
Utilization, current	(66)	(114)
Ending balance, current	225	139
Jubilee provision
Non-current provisions
Beginning balance, non-current	119	163
Additions, non-current	482	(30)
Utilization, non-current	(603)	(14)
Ending balance, non-current	2	119
Provision for legal claims
Current provisions
Beginning balance, current	67	32
Additions, current	44	123
Utilization, current		(88)
Reversal of unused amount, current	(58)
Ending balance, current	53	67
Other provisions
Current provisions
Beginning balance, current	153	191
Additions, current	2,308	7
Utilization, current	(1,454)	(45)
Reversal of unused amount, current	(312)
Ending balance, current	€ 695	€ 153

POST-EMPLOYMENT BENEFITS (Detai

POST-EMPLOYMENT BENEFITS (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
POST-EMPLOYMENT BENEFITS
Expenses for defined contribution plans	€ 1,677	€ 1,552	€ 1,528

POST-EMPLOYMENT BENEFITS - Defi

POST-EMPLOYMENT BENEFITS - Defined benefit plan (Details) € in Thousands	12 Months Ended
	Dec. 31, 2023 EUR (€)
POST-EMPLOYMENT BENEFITS
Eligible age	67 years
Plan assets	€ 0

POST-EMPLOYMENT BENEFITS - Reco

POST-EMPLOYMENT BENEFITS - Reconciliation of the net defined benefit liability (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
POST-EMPLOYMENT BENEFITS
Net defined liability at January 1	€ 887	€ 1,173	€ 1,189
Defined benefit income recognized in combined statement of profit or loss	33	14	12
Defined benefit cost recognized in other comprehensive income		300	28
Net defined liability at December 31	894	887	1,173
Present value of the defined benefit obligation
POST-EMPLOYMENT BENEFITS
Net defined liability at January 1	887	1,173
Net defined liability at December 31	€ 894	€ 887	€ 1,173

POST-EMPLOYMENT BENEFITS - Re_2

POST-EMPLOYMENT BENEFITS - Reconciliation of the amount recognized in the combined statement of financial position (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
POST-EMPLOYMENT BENEFITS
Net defined liability at January 1	€ 887	€ 1,173	€ 1,189
Actuarial adjustments	25	300	28
thereof: experience adjustments	(2)	2	2
thereof: adjustments for financial assumptions	(24)	(302)	(30)
Interest expense	33	14	12
Net defined liability at December 31	894	887	1,173
Present value of the defined benefit obligation
POST-EMPLOYMENT BENEFITS
Net defined liability at January 1	887	1,173
Net defined liability at December 31	€ 894	€ 887	€ 1,173

POST-EMPLOYMENT BENEFITS - Expe

POST-EMPLOYMENT BENEFITS - Expenses (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
POST-EMPLOYMENT BENEFITS
Actuarial gains (-) / losses (+) deriving from changes in financial assumptions	€ (24)	€ (302)	€ (30)
Actuarial gains (-) / losses (+) deriving from experience adjustments	(2)	2	2
Included in other comprehensive income	25	300	28
Interest income	33	14	12
Included in the combined statements of profit or loss	33	14	12
Total included in the combined statements of profit or loss and other comprehensive income (loss)	€ 7	€ (286)	€ (16)

POST-EMPLOYMENT BENEFITS - Actu

POST-EMPLOYMENT BENEFITS - Actuarial assumptions (Details)	Dec. 31, 2023	Dec. 31, 2022
POST-EMPLOYMENT BENEFITS
Discount rate	4%	3.75%

POST-EMPLOYMENT BENEFITS - Sens

POST-EMPLOYMENT BENEFITS - Sensitivity Analysis (Details) - EUR (€) € in Thousands	Dec. 31, 2023	Dec. 31, 2022
POST-EMPLOYMENT BENEFITS
Discount rate (+0.25%)	4.25%	4%
Present value of the post-employment benefit obligations (in € thousand)	€ 872	€ 862
Discount rate (-0.25%)	3.75%	3.50%
Present value of the post-employment benefit obligations (in € thousand)	€ 918	€ 912
Actuarial assumption of discount rates
POST-EMPLOYMENT BENEFITS
Discount rate increase	0.25%	0.25%
Discount rate decrease	(0.25%)	(0.25%)

POST-EMPLOYMENT BENEFITS - Dura

POST-EMPLOYMENT BENEFITS - Duration (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
POST-EMPLOYMENT BENEFITS
Duration of the obligation	12 years	13 years

OTHER CURRENT LIABILITIES (Deta

OTHER CURRENT LIABILITIES (Details) - EUR (€) € in Thousands	Dec. 31, 2023	Dec. 31, 2022
OTHER CURRENT LIABILITIES
Personnel related accruals	€ 3,175	€ 2,700
Tax related accruals	1,348	1,481
Audit related accruals	1,297	286
Miscellaneous other current liabilities	7,294	4,239
Total other current liabilities	13,113	€ 8,706
Legal and consulting fees	2,707
Installation and transportation costs	€ 1,344

FINANCIAL INSTRUMENTS AND FIN_3

FINANCIAL INSTRUMENTS AND FINANCIAL RISK MANAGEMENT - Carrying Amounts and Fair Values (Details) - EUR (€) € in Thousands	Dec. 31, 2023	Dec. 31, 2022
Financial instruments
Carrying amount, financial liabilities	€ 48,244	€ 162,860
FLAC
Financial instruments
Carrying amount, financial liabilities	74,142	188,260
FLAC | Loans from debt funds | Level 3
Financial instruments
Carrying amount, financial liabilities		24,393
Fair value, financial liabilities		23,072
FLAC | Loans from other third parties | Level 3
Financial instruments
Carrying amount, financial liabilities	2,336
Fair value, financial liabilities	2,063
FLAC | Loans from shareholders | Level 3
Financial instruments
Carrying amount, financial liabilities	19,854	10,013
Fair value, financial liabilities	17,630	9,307
FLAC | Loans from banks | Level 3
Financial instruments
Carrying amount, financial liabilities	1,225	12,003
Fair value, financial liabilities		11,508
FLAC | Loans from debt funds | Level 3
Financial instruments
Carrying amount, financial liabilities		79,773
Fair value, financial liabilities		51,678
FLAC | Loans from other third parties | Level 3
Financial instruments
Carrying amount, financial liabilities		3,540
Fair value, financial liabilities		3,483
FLAC | Loans from shareholders
Financial instruments
Carrying amount, financial liabilities	8,102	16,493
FLAC | Loans from other related parties | Level 3
Financial instruments
Carrying amount, financial liabilities	16,726	16,646
Fair value, financial liabilities		14,688
FLAC | Trade payables and other liabilities
Financial instruments
Carrying amount, financial liabilities	25,899	25,400
AC
Financial instruments
Carrying amount, financial assets	54,335	120,971
AC | Other loans and other investments
Financial instruments
Carrying amount, financial assets	28
Fair value, financial assets	28
AC | Other non-current financial assets
Financial instruments
Carrying amount, financial assets	112	115
AC | Trade receivables
Financial instruments
Carrying amount, financial assets	40,673	40,593
AC | Receivables from joint ventures
Financial instruments
Carrying amount, financial assets	1,599	2,656
AC | Exit bonus
Financial instruments
Carrying amount, financial assets	4,700
Fair value, financial assets	4,700
AC | Receivables from shareholder
Financial instruments
Carrying amount, financial assets	107
AC | Receivables from shareholder | Level 3
Financial instruments
Carrying amount, financial assets		65,158
Fair value, financial assets		64,028
AC | Miscellaneous receivables
Financial instruments
Carrying amount, financial assets		431
AC | Restricted cash
Financial instruments
Carrying amount, financial assets	89	1,049
AC | Other
Financial instruments
Carrying amount, financial assets	1,317	2,637
AC | Cash and cash equivalents
Financial instruments
Carrying amount, financial assets	€ 5,710	€ 8,332

FINANCIAL INSTRUMENTS AND FIN_4

FINANCIAL INSTRUMENTS AND FINANCIAL RISK MANAGEMENT - Items of income, expenses, gains or losses resulting from financial instruments (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Items of income, expenses, gains or losses resulting from financial instruments
Financial assets - AC, Interest	€ 9,499	€ 4,089
Financial liabilities - FLAC, Interest	(9,988)	(17,650)
Financial assets and liabilities - FVTPL, Fair value		(1,669)
Total income, expenses, gains or losses resulting from financial instruments	(488)	(15,230)
Financial instruments that are not measured at FVTPL
Total interest income for financial assets that are not measured at FVTPL	9,499	4,089
Total interest expense for financial liabilities that are not measured at FVTPL	9,988	17,650
Interest [Member]
Items of income, expenses, gains or losses resulting from financial instruments
Financial assets - AC, Interest	9,499	4,089
Financial liabilities - FLAC, Interest	(9,988)	(17,650)
Total income, expenses, gains or losses resulting from financial instruments	€ (488)	(13,561)
Fair value[Member]
Items of income, expenses, gains or losses resulting from financial instruments
Financial assets and liabilities - FVTPL, Fair value		(1,669)
Total income, expenses, gains or losses resulting from financial instruments		€ (1,669)

FINANCIAL INSTRUMENTS AND FIN_5

FINANCIAL INSTRUMENTS AND FINANCIAL RISK MANAGEMENT - Allowances for ECL determined for the different classes of financial assets developed (Details) - Allowances - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Trade receivables | - not credit impaired
FINANCIAL INSTRUMENTS AND FINANCIAL RISK MANAGEMENT
Opening Balance	€ (19)	€ (8)
Additions	(118)	(11)
Closing Balance	(137)	(19)
Trade receivables | - credit impaired
FINANCIAL INSTRUMENTS AND FINANCIAL RISK MANAGEMENT
Opening Balance	(652)	(1,952)
Additions	(198)
Utilization	(11,425)	1,148
Reversal	11,706	153
Closing Balance	(569)	(652)
Shareholder and other loans
FINANCIAL INSTRUMENTS AND FINANCIAL RISK MANAGEMENT
Opening Balance	(1,445)	(4,394)
Reversal	€ 1,445	2,949
Closing Balance		€ (1,445)

FINANCIAL INSTRUMENTS AND FIN_6

FINANCIAL INSTRUMENTS AND FINANCIAL RISK MANAGEMENT - Gross Carrying Amounts by Rating Class (Details) - Gross carrying amounts - EUR (€) € in Thousands	Dec. 31, 2023	Dec. 31, 2022
Stage 3
Credit-risk rating
Carrying amount, financial assets	€ (138)
Stage 1
Credit-risk rating
Carrying amount, financial assets	5,710	€ 8,332
Stage 2/ Stage 3
Credit-risk rating
Carrying amount, financial assets	37,665	108,838
Cash and cash equivalents | AAA to BBB (Investment grade) | Stage 1
Credit-risk rating
Carrying amount, financial assets	5,710	8,332
Shareholder receivable | BBB- to CCC (Below investment grade) | Stage 2/ Stage 3
Credit-risk rating
Carrying amount, financial assets	4,807	65,158
Trade receivables and other receivables | insured receivables (90%) | Stage 2/ Stage 3
Credit-risk rating
Carrying amount, financial assets		39,312
Trade receivables and other receivables | non-insured receivables (10%) | Stage 2/ Stage 3
Credit-risk rating
Carrying amount, financial assets		€ 4,368
Trade receivables and other receivables | Current (not past due) | Stage 3
Credit-risk rating
Carrying amount, financial assets	(69)
Trade receivables and other receivables | Current (not past due) | Stage 2/ Stage 3
Credit-risk rating
Carrying amount, financial assets	27,148
Trade receivables and other receivables | 1-30 days past due | Stage 3
Credit-risk rating
Carrying amount, financial assets	(11)
Trade receivables and other receivables | 1-30 days past due | Stage 2/ Stage 3
Credit-risk rating
Carrying amount, financial assets	1,423
Trade receivables and other receivables | 31-60 days past due | Stage 3
Credit-risk rating
Carrying amount, financial assets	(6)
Trade receivables and other receivables | 31-60 days past due | Stage 2/ Stage 3
Credit-risk rating
Carrying amount, financial assets	597
Trade receivables and other receivables | 61-90 days past due | Stage 3
Credit-risk rating
Carrying amount, financial assets	(7)
Trade receivables and other receivables | 61-90 days past due | Stage 2/ Stage 3
Credit-risk rating
Carrying amount, financial assets	651
Trade receivables and other receivables | More than 90 days past due | Stage 3
Credit-risk rating
Carrying amount, financial assets	(45)
Trade receivables and other receivables | More than 90 days past due | Stage 2/ Stage 3
Credit-risk rating
Carrying amount, financial assets	€ 3,039

FINANCIAL INSTRUMENTS AND FIN_7

FINANCIAL INSTRUMENTS AND FINANCIAL RISK MANAGEMENT - Liquidity Risk (Details) - EUR (€) € in Thousands	Dec. 31, 2023	Dec. 31, 2022
Credit-risk rating
Carrying amount, financial liabilities	€ 48,244	€ 162,860
Liquidity Risk | Lease liabilities
Credit-risk rating
Carrying amount, financial liabilities	11,025	1,476
Liquidity Risk | Borrowings (including embedded derivatives)
Credit-risk rating
Carrying amount, financial liabilities	52,835	161,432
Liquidity Risk | Loans from banks
Credit-risk rating
Carrying amount, financial liabilities	1,225	12,221
Liquidity Risk | Loans from debt funds
Credit-risk rating
Carrying amount, financial liabilities		99,783
Liquidity Risk | Loans from other third parties
Credit-risk rating
Carrying amount, financial liabilities	2,778	3,702
Liquidity Risk | Loans from shareholders
Credit-risk rating
Carrying amount, financial liabilities	32,106	28,394
Liquidity Risk | Loans from other related parties
Credit-risk rating
Carrying amount, financial liabilities	16,726	17,332
Liquidity Risk | Trade payables and other liabilities
Credit-risk rating
Carrying amount, financial liabilities	25,899	25,400
Liquidity Risk | Not later than 1 year | Lease liabilities
Credit-risk rating
Carrying amount, financial liabilities	2,073	564
Liquidity Risk | Not later than 1 year | Borrowings (including embedded derivatives)
Credit-risk rating
Carrying amount, financial liabilities	26,053	111,517
Liquidity Risk | Not later than 1 year | Loans from banks
Credit-risk rating
Carrying amount, financial liabilities	1,225	12,221
Liquidity Risk | Not later than 1 year | Loans from debt funds
Credit-risk rating
Carrying amount, financial liabilities		73,262
Liquidity Risk | Not later than 1 year | Loans from other third parties
Credit-risk rating
Carrying amount, financial liabilities		3,702
Liquidity Risk | Not later than 1 year | Loans from shareholders
Credit-risk rating
Carrying amount, financial liabilities	8,102	5,000
Liquidity Risk | Not later than 1 year | Loans from other related parties
Credit-risk rating
Carrying amount, financial liabilities	16,726	17,332
Liquidity Risk | Not later than 1 year | Trade payables and other liabilities
Credit-risk rating
Carrying amount, financial liabilities	25,899	25,400
Liquidity Risk | Later than 1 year and not later than 2 years | Lease liabilities
Credit-risk rating
Carrying amount, financial liabilities	1,822	465
Liquidity Risk | Later than 1 year and not later than 2 years | Borrowings (including embedded derivatives)
Credit-risk rating
Carrying amount, financial liabilities	26,781	49,914
Liquidity Risk | Later than 1 year and not later than 2 years | Loans from debt funds
Credit-risk rating
Carrying amount, financial liabilities		26,521
Liquidity Risk | Later than 1 year and not later than 2 years | Loans from other third parties
Credit-risk rating
Carrying amount, financial liabilities	2,778
Liquidity Risk | Later than 1 year and not later than 2 years | Loans from shareholders
Credit-risk rating
Carrying amount, financial liabilities	24,004	23,394
Liquidity Risk | Later than 2 year and not later than five years | Lease liabilities
Credit-risk rating
Carrying amount, financial liabilities	3,372	€ 446
Liquidity Risk | Later than 5 years | Lease liabilities
Credit-risk rating
Carrying amount, financial liabilities	€ 3,758

FINANCIAL INSTRUMENTS AND FIN_8

FINANCIAL INSTRUMENTS AND FINANCIAL RISK MANAGEMENT - Foreign Currency Risk (Details) - Foreign Currency Risk € in Thousands, ¥ in Thousands, $ in Thousands, $ in Thousands	Dec. 31, 2023 CNY (¥)	Dec. 31, 2023 USD ($)	Dec. 31, 2023 EUR (€)	Dec. 31, 2023 HKD ($)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2022 EUR (€)
Credit-risk rating
Impact on profit or loss from change in functional currency	¥ 2,563	$ 2,520	€ 26,464	$ (424)	¥ 5,500	$ 3,530	€ 20,029
EUR
Credit-risk rating
Impact on profit or loss from change in functional currency	5,010	3,597			¥ 5,500	4,669
CNY
Credit-risk rating
Impact on profit or loss from change in functional currency		$ (1,077)	27,217	$ (424)		$ (1,139)	25,519
USD
Credit-risk rating
Impact on profit or loss from change in functional currency			17				(5,030)
TWD
Credit-risk rating
Impact on profit or loss from change in functional currency	(238)		1,481				1,378
HKD
Credit-risk rating
Impact on profit or loss from change in functional currency	¥ (2,209)		2,026
KRW
Credit-risk rating
Impact on profit or loss from change in functional currency			€ (4,276)				€ (1,838)

FINANCIAL INSTRUMENTS AND FIN_9

FINANCIAL INSTRUMENTS AND FINANCIAL RISK MANAGEMENT - Impact on profit or loss before tax (Details) - Foreign Currency Risk - EUR (€) € in Thousands	Dec. 31, 2023	Dec. 31, 2022
Credit-risk rating
Percentage of reasonable increase	10%	10%
Percentage of reasonable decrease	(10.00%)	(10.00%)
CNY/EUR
Credit-risk rating
Impact on profit or loss before tax due to reasonable increase in material currency pair	€ 2,019	€ 1,820
Impact on profit or loss before tax due to reasonable decrease in material currency pair	(2,467)	(2,224)
USD/EUR
Credit-risk rating
Impact on profit or loss before tax due to reasonable increase in material currency pair	(325)	(882)
Impact on profit or loss before tax due to reasonable decrease in material currency pair	398	1,078
TWD/EUR
Credit-risk rating
Impact on profit or loss before tax due to reasonable increase in material currency pair	135	130
Impact on profit or loss before tax due to reasonable decrease in material currency pair	(165)	(159)
HKD/EUR
Credit-risk rating
Impact on profit or loss before tax due to reasonable increase in material currency pair	184
Impact on profit or loss before tax due to reasonable decrease in material currency pair	(225)
KRW/EUR
Credit-risk rating
Impact on profit or loss before tax due to reasonable increase in material currency pair	(389)	(167)
Impact on profit or loss before tax due to reasonable decrease in material currency pair	475	204
CNY/TWD
Credit-risk rating
Impact on profit or loss before tax due to reasonable increase in material currency pair	22
Impact on profit or loss before tax due to reasonable decrease in material currency pair	(26)
CNY/HKD
Credit-risk rating
Impact on profit or loss before tax due to reasonable increase in material currency pair	158
Impact on profit or loss before tax due to reasonable decrease in material currency pair	(203)
USD/CNY
Credit-risk rating
Impact on profit or loss before tax due to reasonable increase in material currency pair	98	104
Impact on profit or loss before tax due to reasonable decrease in material currency pair	€ (120)	€ (127)

FINANCIAL INSTRUMENTS AND FI_10

FINANCIAL INSTRUMENTS AND FINANCIAL RISK MANAGEMENT - Interest Rate Risk (Details) - Interest Rate Risk - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
FINANCIAL INSTRUMENTS AND FINANCIAL RISK MANAGEMENT
Increase in interest rate (as a percent)	1%	1%
Decrease in interest rate (as a percent)	1%	1%
Impact to P&L due to increase in interest rate	€ (296)	€ (1,164)
Impact to P&L due to decrease in interest rate	€ 296	€ 1,162

FINANCIAL INSTRUMENTS AND FI_11

FINANCIAL INSTRUMENTS AND FINANCIAL RISK MANAGEMENT - Reconciliation of changes in liabilities arising from financing activities (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Reconciliation of changes in liabilities arising from financing activities
Balance at the beginning	€ 59,130	€ 168,444	€ 154,618
Cash flow from financing activities	(84,631)	(3,301)
Proceeds from loans		4,895
Repayments of loans	(81,871)	(5,880)	(1,911)
Principal elements of lease payment	(715)	(609)
Interest paid	(2,044)	(1,708)
Changes in the cash flow from financing activities	(24,683)	17,127
Foreign currency effects	(77)	(19)
New leases	10,347	433
Accrued interest	(34,922)	14,677
Fair value measurement	(32)	2,036
Balance at the ending	59,130	168,444	154,618
Loans
Reconciliation of changes in liabilities arising from financing activities
Balance at the beginning	48,244	167,111	153,090
Cash flow from financing activities	(83,812)	(2,625)
Proceeds from loans		4,895
Repayments of loans	(81,871)	(5,880)
Interest paid	(1,941)	(1,640)
Changes in the cash flow from financing activities	(35,055)	16,645
Accrued interest	(35,024)	14,609
Fair value measurement	(32)	2,036
Balance at the ending	48,244	167,111	153,090
Lease liabilities
Reconciliation of changes in liabilities arising from financing activities
Balance at the beginning	10,886	1,333	1,528
Cash flow from financing activities	(819)	(676)
Principal elements of lease payment	(715)	(609)
Interest paid	(103)	(68)
Changes in the cash flow from financing activities	10,372	482
Foreign currency effects	(77)	(19)
New leases	10,347	433
Accrued interest	102	68
Balance at the ending	€ 10,886	€ 1,333	€ 1,528

EQUITY-ACCOUNTED INVESTEES (Det

EQUITY-ACCOUNTED INVESTEES (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
EQUITY-ACCOUNTED INVESTEES
Investment in joint venture	€ 0
Advanced Energy Storage Systems Investment Company (AES)
EQUITY-ACCOUNTED INVESTEES
Percent of ownership interest in joint ventures	51.30%	51.30%
SCHMID AVACO Korea Co. Ltd. (SAK)
EQUITY-ACCOUNTED INVESTEES
Percent of ownership interest in joint ventures	50%	50%

EQUITY-ACCOUNTED INVESTEES - Fi

EQUITY-ACCOUNTED INVESTEES - Financial information on the joint venture (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Current Assets
Cash and cash equivalents	€ 5,710	€ 8,332	€ 18,384	€ 533
Current assets	74,166	147,014
Non-current assets	32,416	33,232
Current liabilities
Current financial liabilities	26,053	128,454
Other current liabilities	13,113	8,706
Current liabilities	87,343	195,594
Non-current liabilities
Non-current financial liabilities	22,190	34,406
Non-current liabilities	37,081	€ 38,968
Investment in joint venture	€ 0
Advanced Energy Storage Systems Investment Company (AES)
EQUITY-ACCOUNTED INVESTEES
Percent of ownership interest in joint ventures	51.30%	51.30%
Current Assets
Cash and cash equivalents	€ 16	€ 1,144
Other current assets	22	342
Current assets	38	1,486
Non-current assets	3,871	6,134
Current liabilities
Current financial liabilities	2,935	2,015
Other current liabilities	216	4,214
Current liabilities	3,151	6,229
Non-current liabilities
Non-current financial liabilities		9,177
Other non-current liabilities	3,894	957
Non-current liabilities	3,894	10,134
Net assets (100%)	€ (3,136)	€ (8,742)

EQUITY-ACCOUNTED INVESTEES - Jo

EQUITY-ACCOUNTED INVESTEES - Joint venture (Details) - EUR (€)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of joint ventures [line items]
Revenue	€ 90,246,000	€ 95,058,000	€ 39,481,000
Interest income	3,883,000	4,089,000	3,236,000
Depreciation and amortization	(6,904,000)	(6,283,000)	(4,893,000)
Tax income	(2,778,000)	1,924,000	(5,195,000)
Other comprehensive income	(1,607,000)	(290,000)	150,000
Total combined comprehensive income (loss) for the reporting period	€ 36,346,000	€ 3,301,000	€ (27,127,000)
Advanced Energy Storage Systems Investment Company (AES) [Member]
Disclosure of joint ventures [line items]
Percent of ownership interest in joint ventures	51.30%	51.30%
Administration expense	€ (221,000)
R&D and Other expense	(351,000)
Depreciation and amortization	(561,000)	€ (1,106,000)
Interest expense		(292,000)
Tax income	61,000	236,000
Loss from continuing operations	(1,025,000)	(3,750,000)
Other comprehensive income		181,000
Total combined comprehensive income (loss) for the reporting period	€ (1,025,000)	€ (3,932,000)

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) - EUR (€) € in Thousands	Dec. 31, 2023	Dec. 31, 2022
COMMITMENTS AND CONTINGENCIES
Commitments to acquire items of property, plant and equipment	€ 62	€ 1,086

RELATED PARTY DISCLOSURES - Tra

RELATED PARTY DISCLOSURES - Transactions with Key Management (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
RELATED PARTY DISCLOSURES
Short-term employee benefits	€ 1,562	€ 1,262	€ 1,332

RELATED PARTY DISCLOSURES - T_2

RELATED PARTY DISCLOSURES - Transactions are proceeded with related parties (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Shareholder
RELATED PARTY DISCLOSURES
Interest income on loans granted to	€ 1,077	€ 526	€ 159
Interest expense on loans received from	737	165	53
Salary and Bonus	1,149	988	910
Outstanding balances - Liabilities	24,102	24,064
Outstanding balances - Receivables	107	67,926
Key management personnel
RELATED PARTY DISCLOSURES
Interest expense on loans received from	12	88	88
Salary and Bonus	1,562	1,262	1,332
Outstanding balances - Liabilities	280	2,528
Joint ventures
RELATED PARTY DISCLOSURES
Purchases of goods or services	3	2,511	20
Sale of goods or services	427	505	817
Outstanding balances - Liabilities	358	358
Outstanding balances - Receivables	2,655	951
Other related parties
RELATED PARTY DISCLOSURES
Interest expense on loans received from	558	409	400
Purchases of goods or services	236	663	618
Sale of goods or services	11,801	592	€ 797
Outstanding balances - Liabilities	25,359	15,345
Outstanding balances - Receivables	€ 221	€ 23,062

EVENTS AFTER THE REPORTING PE_2

EVENTS AFTER THE REPORTING PERIOD (Details)	Jan. 01, 2024
Major business | Schmid Energy Systems GmbH
EVENTS AFTER THE REPORTING PERIOD
Percent of ownership interest in subsidiaries	100%

EVENTS AFTER THE REPORTING PE_3

EVENTS AFTER THE REPORTING PERIOD - Signing of the XJ repurchase agreement (Details) € in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2023 EUR (€)	Apr. 30, 2024 USD ($)
Signing of repurchase agreement | XJ Harbour HK Limited | SCHMID Technology Guangdong Co. Ltd.
EVENTS AFTER THE REPORTING PERIOD
Cash payments agreed for acquiring non-controlling interest	€ 30
Payments term after the closing of business combination	455 days
Cash due at the closing of business combination	€ 10
Major business
EVENTS AFTER THE REPORTING PERIOD
Committed Capital Before Costs | $		$ 26