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ER - LION E-Mobility AG: LION Smart GmbH and LION Smart Production GmbH today published their preliminary, unaudited financial figures for the second quarter 2023

Company: LION E-Mobility Date: 2023-08-03 Language: English Register to download
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 News Details

Corporate | 3 August 2023 22:06

#   

LION E-Mobility AG: LION Smart GmbH and LION Smart Production GmbH today published their preliminary, unaudited financial figures for the second quarter 2023

EQS-News: LION E-Mobility AG / Key word(s): Quarter Results/Quarter Results  

LION E-Mobility AG: LION Smart GmbH and LION Smart Production GmbH today published their preliminary, unaudited financial figures for the second quarter 2023  

03.08.2023 / 22:06 CET/CEST  

The issuer is solely responsible for the content of this announcement.  

**PRESS RELEASE**

-   **Sales EUR 11.3M** in Q2/23 + **40% increase** compared to Q1/23
-   **Gross profit EUR 2.6M** in Q2/23 higher than Q1/23 EUR 1.6M
-   **Positive cash flow EUR 5.7M** in 1HY (1HY/22: EUR -0.05M)

|     |     |     |     |     |     |
| --- | --- | --- | --- | --- | --- |
| **Prel. Figures  <br><br>EUR M** | **2023  <br><br>Q2**  <br><br>**LS+LSP** | **2023  <br><br>Q1**  <br><br>**LS+LSP** | **2023  <br><br>1HY**  <br><br>**LS+LSP** | **2022  <br><br>1HY**  <br><br>**LS** | **1HY  <br><br>YoY** |
| External sales | 11.33 | 8.11 | 19.44 | 24.24 | \-4.80 |
| Total output | 11.61 | 8.08 | 19.69 | 24.34 | \-4.65 |
| Gross profit | 2.56 | 1.56 | 4.13 | 3.58 | 0.55 |
| EBITDA | 0.38 | \-0.41 | \-0.04 | 0.96 | \-1.03 |
| EBIT | 0.33 | \-0.45 | \-0.12 | 0.90 | \-1.46 |
| **Result for the period** | **0.10** | **\-0.66** | **\-0.56** | **0.90** | **\-1.46** |

  

**Garching near Munich, August 3 rd** **, 2023 –** LION Smart GmbH (LS) and LION Smart Production GmbH (LSP), fully owned subsidiaries of LION E-Mobility AG, today published their preliminary, unaudited financial figures for the second quarter ended June 30 th , 2023.

**Results of operations of LION Smart GmbH and LION Smart Production GmbH as of June 30** **th** **, 2023**

The business performance of the two German operating companies was determined in Q2/23 by the start of the series production and deliveries of the first LION SE09 batteries in mid May.

In **Q2 sales revenues** of **EUR** **11.3M** were generated, which corresponds to a sales growth of approx. **40%** compared to Q1/23. It was generated evenly from the stationary storage market as well as from commercial vehicles and other mobility markets. In consequence, sales revenues totaling **19.44M** could be achieved in the 1 st half of 2023.

Compared to Q1 2023, **total operating performance** (sales, own work capitalized, changes in inventories) **increased** by EUR 3.5M to EUR **11.61M** (Q1/23: EUR 8.08M).

The **cost of materials** – consisting of cost of raw materials, finished goods and other purchased services – decreased to EUR **15.6M** (1HY/22: EUR 20.8M), which is also reflected in the **cost of materials ratio** of **80%** compared to last year’s 85% (calculated from the ratio of cost of materials to sales and changes in inventories).

Hence, **gross profit of EUR 4.13M** was generated for the 1 st half of 2023, which corresponds to a gross profit margin of 21% (1HY/22: 14.7%).

**Personnel expenses** stayed the same compared to the Q1 at EUR 1.34M. As of June 30 th , 2023, 58 employees and 7 working students were employed by LION Smart GmbH and LION Smart Production GmbH (June 30 th 2022: total of 54).

**Other operating expenses** increased from EUR 0.7M to **EUR 0.9M** compared to Q1/23 due to the ongoing expansion and ramp up of production in Hildburghausen.

**Earnings before interest and taxes (EBIT)** in Q2/23 amount to EUR **0.33M,** compared to Q1/2023 with EUR -0.45M. As of June 30 th , 2023, YTD EBIT totals to **EUR -0.12M** .

The **financial result** in Q2/23 is EUR -0.02M lower than Q1 due to increased interest rates **.**

LION Smart GmbH and LION Smart Production GmbH generated a **pre-tax result** of  

**EUR 0.1M in Q2/23** (Q1: EUR -0.66M), leading overall to EUR -0.56M for the first half of 2023.

**Net assets and financial position as June 30** **th** **, 2023**

**Total assets** increased by EUR 23.72M to **EUR 47.28M** as of June 30 th , 2023 (March 31 st , 2023: EUR 23.56M):

**Fixed assets** as of June 30 th , 2023, are **EUR 19.74M** (March 31 st , 2023: EUR 12.14M) with the set-up of the production in Hildburghausen increasing **tangible assets** to EUR **11.60M** (March 31 st , 2023: EUR 4.28M).

In Q2/23, **development costs** totaling **EUR 0.28M** were recognized as own work capitalized. As of June 30 th , 2023, internally generated **intangible assets** adjust at **EUR 3.46M** (March 31 st , 2023: EUR 3.18M).

Loans to companies in which an equity investment is held remained unchanged (June 30 th 2023: EUR 2.04M).

**Current assets** increased by EUR 16.23M to **EUR** **27.39M** (March 31 st 2023: EUR 11.15M):

**Inventories** rose by EUR 3.79M to **EUR 7.73M** due to start of own production.

**Receivables and other assets** increased by EUR 6.79M to **EUR 11.36M** compared to the previous quarter (March 31 st 2023: EUR 4.57M).

As of June 30 th , 2023, **cash and cash equivalents** amounted to **EUR 8.30M** due to the recently granted EUR 6M loan by the parent company (Q1/2023: EUR 2.65M).

**The equity** of LION Smart GmbH and LION Smart Production GmbH amounts to **EUR 5.48M** as of June 30 th, 2023 compared to EUR 5.37M end of March. The **equity ratio** as of June 30 th , 2023, decreased to **11.6% compared to 22.8% end of March** .

**Accruals** amount to **EUR 0.72M** as of June 30 th , 2023 (March 31 st : EUR 0.71M). Other accruals mainly include personnel costs, such as overtime, vacation not taken and variable salary components.

**Liabilities** increased to **EUR 41.1M** at the end of June compared to EUR 17.48M (March 31 th , 2023) and consist mainly of increased trade payables due to production ramp up, a larger license and the additional EUR 6M loan granted by the parent company in June 2023.

Unchanged to the previous year, there are no liabilities to banks as of June 30 th , 2023.

**Cash flow and financing as of June 30** **th** **, 2023**

**Cash flow from operating activities** was in Q2/23 with **EUR 0.26M** higher than Q1/23 (EUR 0.11M) due to higher sales in Q2/23.

As of June 30 th , 2023, **Cash flow from investing activities** is negative due to the acquisition of equipment and machinery to produce own LION SE09 batteries as well as the additions to internally generated intangible assets: **EUR -0.62M** (1HY/23: EUR -0.33M).

**Cash flow from financing activities** in 1HY/23 was positive with **EUR 6M** due to a new loan granted by the parent company (1HY/22: EUR 0.55M).

In summary, a **positive cash flow** of EUR **5.75M** can be reported for 1HY (1HY/22: EUR -0.05M).

**Outlook for the second half of fiscal year 2023**

The foundation for future growth in the following years was laid and sales is expected to increase significantly in the second half of 2023 with the full establishment of production. Therefore, the published sales guidance for the current year 2023 will be reiterated.

Despite the investments in products and production facilities, a positive EBITDA can be expected for the full year.

The companies are financed by the parent company. The management is convinced that the companies are on the right track for further growth and continues to invest in products and technologies.

**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 and 100% of LION Smart Production GmbH, a battery pack manufacturer. LION Smart GmbH 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. and LION Smart North America Inc.

[www.lionemobility.com](https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=f2ab59a9c1db3a9c43fd01aff88d55ae&application_id=1695889&site_id=news_data&application_name=news)

**Responsible for the press release: BoD LION E- Mobility AG**

**LION Smart GmbH & LION Smart Production GmbH**

Winfried Buss

Managing Director

  

**LION E-Mobility Investor Relations**

Frank Schönrock

Phone: +49 (0) 1737025315

E-Mail: [ir@lionemobility.com](mailto:ir@lionemobility.com) | [www.lionemobility.com](https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=cba7508291e8a4a59b8b24a21082ba21&application_id=1695889&site_id=news_data&application_name=news)

**Disclaimer:**

Statements that express or contain forecasts, expectations, views, plans, goals and assumptions regarding future events or performance are not considered historical facts and may therefore be forward-looking statements. Forward-looking statements are based on the expectations, estimates and plans at the time the statements were made, and therefore involve a number of risks and uncertainties that could cause actual results or events to differ materially from those currently anticipated become. LION E-Mobility AG is under no obligation to update the forward-looking statements in this press release.

  

- - -

03.08.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News – a service of EQS Group AG.  

The issuer is solely responsible for the content of this announcement.  

  

The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.  

Archive at www.eqs-news.com  

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|     |     |
| --- | --- |
| Language: | English |
| Company: | LION E-Mobility AG |
|     | Lindenstraße 16 |
|     | 6340 Baar |
|     | Switzerland |
| Phone: | +41 (0)41 500 54 11 |
| Fax: | +41 (0)41 500 54 12 |
| 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: | 1695889 |

  

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| --- | --- |
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| End of News | EQS News Service |

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