LION E-Mobility AG confirms full year 2024 guidance after weak Q1 with seasonal effects

LION E-Mobility AG confirms full year 2024 guidance after weak Q1 with seasonal effects

Zug (Switzerland), 2 May 2024 – LION E-Mobility AG (LION; ISIN: CH0560888270), a leading battery pack manufacturer specializing in e-mobility and energy storage solutions, published preliminary figures of LION Group for the first quarter of 2024, today, revealing seasonal effect. While Q1 figures indicate temporary weakness in revenue activity, the company expresses optimism regarding its long-term growth prospects on the basis of the order backlog and the sales pipeline.

During Q1 2024, LION generated revenues totaling €1.2 million, showcasing a temporary decline compared to the robust performance of the preceding fiscal year which included the former reselling business. The EBITDA of -€2.6 million in Q1 2024 primarily reflects the seasonal distribution of revenue, with operational costs resulting in a negative operating cash flow. Personnel costs remained stable at €1.4 million, consistent with the previous year's average, demonstrating the company's commitment to prudent financial management.

Dr. Joachim Damasky, CEO of LION: "Despite the temporary weak revenue observed in Q1 2024, we remain optimistic on full-year 2024 and our long-term growth prospects. Our strategic initiatives position us for continued expansion, and we anticipate improved financial performance in the upcoming quarters based on the strong sales pipeline.”

Outlook
Despite the seasonal effects observed in Q1 2024, LION reaffirms its commitment to sustainable growth and the 2024 guidance. The sales pipeline is strong, particularly for Q3 and Q4. Order backlog amounts to around €13 million. Thus, LION assumes improved sales performance in Q2 2024 and especially the latter part of the year.

Overall, LION continues to expect sales in 2024 to reach €60 million to €65 million, representing growth of around 11%. On the basis of the market opportunities and the sales strategy LION has set ambitious sales targets for the coming years. The company is aiming for sales to increase significantly to up to €200 million by 2028.

About LION E-Mobility AG
LION E-Mobility AG is a manufacturer of lithium-ion battery packs. The company offers customized 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 address the growing demand for high-performance energy storage solutions.

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

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

www.lionemobility.com

LION E-Mobility Investor Relations
Kirchhoff Consult
lion@kirchhoff.de
ir@lionemobility.com | www.lionemobility.com

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.