LION E-Mobility AG (von NuWays AG): BUY

Original-Research: LION E-Mobility AG - from NuWays AG 13.11.2025 / 09:00 CET/CEST Dissemination of a Research, transmitted by EQS News - a service of EQS Group. The issuer is solely responsible for the content of this research. The result of this research does not constitute investment advice or an invitation to conclude certain stock exchange transactions. Classification of NuWays AG to LION E-Mobility AG

Company Name:	LION E-Mobility AG
ISIN:	CH0560888270
Reason for the research:	Update
Recommendation:	BUY
Target price:	3.2
Target price on sight of:	12 months
Last rating change:
Analyst:	Christian Sandherr

LION delivered solid Q3 results. Here are the key takeaways:

Q3 sales came in at € 5.9m, largely in line with expectations (eNuW: € 6m) implying a 10.6% yoy decrease. 9m sales of € 16.3m grew by 31% yoy. This was largely driven by the company’s Mobility segment, which benefitted from a broad demand recovery following a particularly weak 2024. Mind you, last year was marked by several customers’ insolvencies, pricing pressure and overall subdued end market demand.

More importantly, Q3 strongly underpinned the successful profitability turnaround as EBITDA improved from € -1.3m to € 1.2m (20.3% margin). 9m figures paint an even stronger picture as EBITDA reached € 2.4m (vs. a € 6m loss last year). This is partially driven by higher sales but also ongoing tight cost control across the group.