EQS-News: LION E-Mobility AG generates positive operating cash flow in Q3 2024 and makes significant progress with the LION LIGHT battery | 12.11.24

LION E-Mobility AG generates positive operating cash flow in Q3 2024 and makes significant progress with the LION LIGHT battery

Zug, November 12, 2024 – LION E-Mobility AG (LION; ISIN: CH0560888270), a leading manufacturer of battery packs specialized in e-mobility and energy storage solutions, today published preliminary results for the third quarter of 2024. Despite a very difficult market environment, LION was able to significantly increase sales from July to September 2024 compared to the first and second quarters, reduce EBITDA losses and achieve positive operating cash flow.

In September 2024, on-track testing of the 400-volt LION LIGHT battery with innovative immersion cooling technology was successfully completed by a German premium OEM. The subsequent high-temperature tests were also successfully completed. The 400-volt battery developed by LION Smart far exceeded the required test parameters and proved its performance under extreme conditions.

Due to the excellent test results, the premium OEM partner has invited LION to submit a tender for the final phase of pre-series development. LION will assemble high-quality battery modules for the pre-series according to the OEM’s specifications. Delivery is scheduled for spring 2025.

Dr. Joachim Damasky, CEO of LION E-Mobility AG, explains: “The excellent results of our high-performance batteries in the extensive testing are very encouraging. We are confident that we can soon start assembling the pre-series battery modules.”

LION generated revenues of €6.4 million in the third quarter of 2024 (Q2 2024: €4.8 million), an increase of 33% compared to the previous quarter. The cumulative turnover for the first three quarters of the year therefore amounted to EUR 12.4 million (2023: EUR 29.8 million). EBITDA improved to EUR -1.2 million in the third quarter (Q2 2024: EUR -2.1 million), which means a reduction in losses. of approximately 43% compared to the previous quarter. EBITDA for the first nine months amounted to EUR -6.0 million (2023: EUR 0.1 million). million). Operating cash flow improved significantly in the third quarter to EUR 1.6 million (Q2 2024: EUR -2.2 million).

“The traditional battery sector has been a major challenge in the first nine months of 2024, both for us and for the battery industry as a whole.” explains Alessio Basteri, Chairman of the Board of Directors of LION E-Mobility AG. “Our progress in innovative technologies is all the more important: the successful tests of our 400-volt LION LIGHT battery with immersion cooling technology have not only confirmed its performance under extreme conditions, but have also highlighted the enormous market potential of this battery. technology. This advanced cooling enables excellent performance and gives us a clear competitive advantage. We are confident that this technology will enable us to capture significant market share and achieve sustainable growth, especially in the premium segment.”

Outlook
On November 6, 2024, LION sold its 30 percent stake in TÜV Süd Battery Testing GmbH to its joint venture partner TÜV SÜD AG. The sale has improved LION’s financial position and will have a positive impact on the company’s earnings in the fourth quarter of 2024. The proceeds from the sale have mainly been used to pay off outstanding debt.

Due to the current market situation, especially given the current oversupply on the battery market, management continues to expect a turnover of up to €42 million to be achieved in 2024. According to current estimates, this will likely lead to a slightly negative or slightly positive EBITDA.

Despite the current market challenges, LION E-Mobility AG is optimistic about the future and expects sustainable growth in the medium term. In terms of mobility, the company expects a return to market normality from the second half of 2025, especially in Europe. Activity is also expected to accelerate in the US, where the development of the Commercial Clean Vehicle Credit could provide additional tailwinds following the US elections. Moreover, demand is increasing in North America, especially in the US and Canada, giving the company confidence in further growth in the e-truck and e-bus segment.

About LION E-Mobility AG
LION E-Mobility AG is a manufacturer of lithium-ion battery packs. The company offers tailor-made plug-and-play solutions for electric vehicles, as well as for stationary and industrial applications. With a current annual production capacity of 2 GWh, LION is ideally positioned to meet the growing demand for high-quality energy storage solutions.

The company operates highly automated module assembly lines in its own production facility in Germany. LION battery packs offer the highest standards in safety, quality and reliability.

LION E-Mobility AG (ISIN: CH0560888270, WKN: A2QH 97), founded in 2011, is listed on the Munich, Frankfurt and Hamburg stock exchanges.

www.lionemobility.com

LION E-Mobility Investor Relations
Kirchhoff Consult
[email protected]
[email protected] | www.lionemobility.com

Disclaimer:
Statements that express or contain predictions, expectations, views, plans, goals and assumptions regarding future events or performance are not considered historical facts and therefore may be forward-looking statements. Forward-looking statements are based on 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 current expectations. LION E-Mobility AG undertakes no obligation to update the forward-looking statements contained in this press release.