DGAP-Adhoc
LION E-Mobility AG: Qualified audit opinion for the subsidiary LION Smart GmbH
DGAP-Ad-hoc: LION E-Mobility AG / Key word(s): Annual Report/Miscellaneous Ad-Hoc Message |
Qualified audit opinion for the subsidiary LION Smart GmbH
Baar, 12 May 2021 - The LION Smart GmbH has voluntarily had its 2020 annual financial statements audited. KPMG AG ("KPMG"), the auditing firm appointed for this purpose, today notified the
management of LION Smart GmbH to issue a qualified audit opinion on the annual financial statements of LION Smart GmbH for the financial year 2020. The current state of knowledge indicates that a
similar qualification of the audit opinion at the level of the voluntary audit of the consolidated financial statements of LION E-Mobility AG is to be expected.
In its audit of the revenue recognition, KPMG assumes that LION Smart GmbH may not recognize the revenue in the full amount of the actual invoicing to the customer (principal, so-called gross recognition), but rather, since in KPMG's view, it only acts as an intermediary, only a reduced value as revenue (agent, so-called net recognition). For this reason alone, KPMG will only issue a qualified audit opinion.
EBIT and EBITDA of LION Smart GmbH remain unaffected by the reporting of sales.
About LION E-Mobility AG:
LION E-Mobility AG is a listed Swiss holding company founded in 2011 with promising strategic investments in the e-mobility sector, especially in the field of electrical energy storage and
lithium-ion battery system technology.
The company holds 100% of the German LION Smart GmbH, a developer of battery packs and battery management systems. LION Smart also holds a 30% stake in TÜV SÜD Battery Testing GmbH, a successful
joint venture with TÜV SÜD AG. LION E-Mobility AG also holds 100% of the shares in LION E-Mobility North America Inc.
Responsible for the press release: BoD LION E- Mobility AG