LION E-Mobility AG confirms full year 2024 guidance after weak Q1 with seasonal effects
EQS-News: LION E-Mobility AG
/ Key word(s): Quarterly / Interim Statement/Forecast
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 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 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
02.05.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
Language: | English |
Company: | LION E-Mobility AG |
Chamerstrasse 172 | |
6300 Zug | |
Switzerland | |
Phone: | +41 (0) 41 749 40 75 |
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: | 1894571 |
End of News | EQS News Service |
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1894571 02.05.2024 CET/CEST