LION E-Mobility AG
LION E-Mobility AG reaches revenue target for FY 2023 and forecasts revenue growth in 2024
EQS-News: LION E-Mobility AG
/ Key word(s): Preliminary Results/Forecast
LION E-Mobility AG reaches revenue target for FY 2023 and forecasts revenue growth in 2024
Zug (Switzerland), 21 March 2024 – LION E-Mobility AG (LION; ISIN: CH0560888270), a leading battery pack manufacturer specializing in e-mobility and energy storage solutions, has today released its preliminary (unaudited) figures for the fiscal year 2023, showcasing a robust performance amidst dynamic market conditions. Revenues for 2023 reached €56.1 million, surpassing the previous year’s €53.8 million by 4% and slightly exceeding the forecast of over €55 million for the fiscal year 2023. Revenues were mainly driven by the delivery of LION batteriepacks to the fast developping markets of electric trucks and buses in North America and Europe, as well as the growing BTM C&I (Behind-The-Meter Commercial and Industrial) sector in Europe. The robust and road-proven battery technology powers a diverse array of applications spanning various forms of mobility to energy storage. The increasing adoption of electric vehicles in these regions, coupled with the evolving demand for sustainable energy solutions in commercial and industrial sectors, has significantly bolstered sales performance. EBITDA for the fiscal year 2023 declined to -€0.7 million compared to -€0.2 million in 2022. This development can be attributed to an increase of the staffing of the new production site in Hildburghausen. EBIT also decreased in the fiscal year 2023 to -€1.6 million from -€0.6 million in 2022. This can be attributed to the shift in investment focus towards the production facility in Hildburghausen, resulting in more than a doubling of depreciation in the fiscal year 2023. The EBIT also includes a one-off impairment of €0.5 million on a customer order. With production having commenced in May 2023, LION generated a positive operating cash flow of €2.1 million in fiscal year 2023, a notable improvement from the -€6.8 million recorded in 2022. Furthermore, cash and cash equivalents at the end of the period in 2023 amounted to €4.4 million, compared to €3.0 million in 2022. Dr. Joachim Damasky, CEO von LION: “LION is steadfast in its commitment to its sustainable growth trajectory. By strategically investing and enhancing operational efficiencies, the company is adeptly navigating the dynamic market landscape. A striking example of this is our technological collaboration with SVolt. Through the enhanced cooperation, we will, for instance, improve the performance of our battery packs and shorten time-to-market to meet the rapidly growing demand.” Outlook 2024 Alessio Basteri, Chairman of the Board of Directors of LION: ”Looking ahead, we are optimistic about our revenue prospects for the fiscal year 2024. With the momentum gained from existing orders and ongoing negotiations, we project to continue on our growth trajectory. We are commited to sustained growth and see a huge potential of our business operations in the mid to long term.”
About LION E-Mobility AG The company operates highly automated module assembly lines at its own production facility in Germany. LION’s battery packs offer the highest standards in terms of safety, quality, and reliability. Founded in 2011, LION E-Mobility AG (ISIN: CH0560888270, WKN: A2QH 97) is listed on the stock exchanges in Munich, Frankfurt, and Hamburg.
LION E-Mobility Investor Relations
21.03.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News – a service of EQS Group AG. |
Language: | English |
Company: | LION E-Mobility AG |
Chamerstrasse 172 | |
6300 Zug | |
Switzerland | |
Phone: | +41 (0) 41 749 40 75 |
E-mail: | info@lionemobility.com |
Internet: | www.lionemobility.com |
ISIN: | CH0560888270 |
WKN: | A2QH97 |
Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt, Hamburg, Munich (m:access), Tradegate Exchange |
EQS News ID: | 1864633 |
End of News | EQS News Service |