EQS-News

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 21.03.2024 / 16:02 CET/CEST The issuer is solely responsible for the content of this announcement. LION E-Mobility AG reaches revenue target for FY 2023 and forecasts revenue growth in 2024

• Revenues up 4% to €56.1 million
• EBITDA:  -€0.7 million
• Cash and cash equivalents as of 31 December 2023: €4.4 million
• Revenue growth of around 11% projected for fiscal year 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.