LION E-Mobility AG

EQS-News: LION E-Mobility AG reaches revenue target for FY 2023 and forecasts revenue growth in 2024

EQS-News: LION E-Mobility AG / Key word(s): Preliminary Results/Forecast
LION E-Mobility AG reaches revenue target for FY 2023 and forecasts revenue growth in 2024

21.03.2024 / 16:02 CET/CEST
The issuer is solely responsible for the content of this announcement.

LION E-Mobility AG reaches revenue target for FY 2023 and forecasts revenue growth in 2024

  • Revenues up 4% to €56.1 million
  • EBITDA:  -€0.7 million
  • Cash and cash equivalents as of 31 December 2023: €4.4 million
  • Revenue growth of around 11% projected for fiscal year 2024

Zug (Switzerland), 21 March 2024 – LION E-Mobility AG (LION; ISIN: CH0560888270), a leading battery pack manufacturer specializing in e-mobility and energy storage solutions, has today released its preliminary (unaudited) figures for the fiscal year 2023, showcasing a robust performance amidst dynamic market conditions. Revenues for 2023 reached €56.1 million, surpassing the previous year's €53.8 million by 4% and slightly exceeding the forecast of over €55 million for the fiscal year 2023.

Revenues were mainly driven by the delivery of LION batteriepacks to the fast developping markets of electric trucks and buses in North America and Europe, as well as the growing BTM C&I (Behind-The-Meter Commercial and Industrial) sector in Europe. The robust and road-proven battery technology powers a diverse array of applications spanning various forms of mobility to energy storage. The increasing adoption of electric vehicles in these regions, coupled with the evolving demand for sustainable energy solutions in commercial and industrial sectors, has significantly bolstered sales performance.

EBITDA for the fiscal year 2023 declined to -€0.7 million compared to -€0.2 million in 2022. This development can be attributed to an increase of the staffing of the new production site in Hildburghausen. EBIT also decreased in the fiscal year 2023 to -€1.6 million from -€0.6 million in 2022. This can be attributed to the shift in investment focus towards the production facility in Hildburghausen, resulting in more than a doubling of depreciation in the fiscal year 2023. The EBIT also includes a one-off impairment of €0.5 million on a customer order.

With production having commenced in May 2023, LION generated a positive operating cash flow of €2.1 million in fiscal year 2023, a notable improvement from the -€6.8 million recorded in 2022. Furthermore, cash and cash equivalents at the end of the period in 2023 amounted to €4.4 million, compared to €3.0 million in 2022.

Dr. Joachim Damasky, CEO von LION: “LION is steadfast in its commitment to its sustainable growth trajectory. By strategically investing and enhancing operational efficiencies, the company is adeptly navigating the dynamic market landscape. A striking example of this is our technological collaboration with SVolt. Through the enhanced cooperation, we will, for instance, improve the performance of our battery packs and shorten time-to-market to meet the rapidly growing demand.”

Outlook 2024
On top of the already disclosed order from Karsan totaling up to €12 million, LION has successfully secured additional orders of smaller scale and continues to engage in further negotiations with both existing and prospective customers. LION has several frame contracts in place regarding battery packs for eBuses,  eTrucks and storage applications. Furthemore, the company is involved in numerous design-in activities for potential future clients. For full year 2024, LION currently expects to reach revenues in the range of €60 million - €65 million, representing growth of around 11% and an expected EBITDA of €0.5 million - €1 million.

Alessio Basteri, Chairman of the Board of Directors of LION: ”Looking ahead, we are optimistic about our revenue prospects for the fiscal year 2024. With the momentum gained from existing orders and ongoing negotiations, we project to continue on our growth trajectory. We are commited to sustained growth and see a huge potential of our business operations in the mid to long term.”


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.


LION E-Mobility Investor Relations
Kirchhoff Consult |

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.


21.03.2024 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

Company:LION E-Mobility AG
Chamerstrasse 172
6300 Zug
Phone:+41 (0) 41 749 40 75
Listed:Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt, Hamburg, Munich (m:access), Tradegate Exchange
EQS News ID:1864633

End of NewsEQS News Service

1864633  21.03.2024 CET/CEST


Best-in-class research on selected German and European small caps. Immediately at publication and 100% free of charge.

To learn how we process your data, visit our Privacy Notice.