Quarterly figures of LION Smart GmbH as of March 31, 2019

13.05.2019

LION successfully starts fiscal year 2019

  • Significant year-on-year increase in revenue 
  • Total operating performance (including company-produced additions to plant and equipment) exceeds previous year’s result
  • Liquidity of LION Group significantly strengthened by further investor
  • Company program to reduce general and administrative expenses improves efficiency  
  • High investments in TÜV SÜD Battery Testing GmbH in the first quarter of 2019

 

Preliminary figures in EUR thousand

Q 1 2019

Q 1 2018

Difference yoy

 

 

 

 

Revenue

198.746

87.202

+ 127,9 %

Total operating performance

427.377

306.811

+ 39,3 %

EBITDA (before special items)

-164.536

-248.260

+ 33,7 %

 

Preliminary HGB figures of LION Smart GmbH as of March 31, 2019:

In the first quarter of 2019, LION Smart GmbH, a subsidiary of LION E-Mobility AG, significantly increased its total operating performancecompared to the previous year.First-quarter total operating performance of EUR 427 thousand consisted of revenues of EUR 199 thousand, internally generated intangible assets of EUR 21 thousand and unfinished services of EUR 207 thousand.This is an increase of 39 percent over the previous year's total operating performance of EUR 307 thousand.

Revenuesrose significantly year-on-year. They mainly comprise engineering services, development work for customers as well as research contracts for the EU and various research institutes in Germany.

For the capitalization of internally generated intangible assets, which mainly concern the LIGHT Battery and the infrared system (LIRE), additional personnel, material and other expenses incurred in the first quarter. LION Smart GmbH still expects that these intangible assets will enable a finished product portfolio to be offered on the market in 2020/21.

The operating result(EBITDA) of EUR -164 thousand was negative in the first quarter of 2019 due to the ongoing high development costs for the Light Battery and the infrared system (LIRE).

At the end of the first quarter, LION Smart GmbH had 25 employees. In a highly competitive market for well-qualified personnel – especially in the area of battery technology and management – LION Smart GmbH was able to recruit three experienced engineers for the further development of the LIGHT Battery and the infrared system (LIRE).This shows that LION Group, as a young company for technology and future products, is perceived to be an attractive employer on the labour market.

LION Smart GmbH expanded its growth strategy of their 30 percent stake in TÜV SÜD Battery Testing GmbH with an investment of EUR 1,140 thousand.

With the financing of EUR 2,500 thousand by the strategic investor Ian Mukherjee concluded in April 2019, LION Group has - in addition to the operating cash flow of LION Smart GmbH - sufficient financial resources for the current fiscal year and beyond.

For fiscal year 2019, the management anticipates increasing revenues, a continuing negative EBIT and EBITDA due to the high expenses for the further development of the LIGHT Battery and the infrared system (LIRE). Expected administrative costs are on a declining level, with a negative annual result also in 2019. For 2020, management expects positive net results for the period. Prerequisite for this is the completion of the LIGHT Battery and the infrared system to a finished end product.

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