HGB figures of LION Smart GmbH as of March 31, 2020
HGB quarterly figures of LION Smart GmbH as of March 31, 2020 – positive quarterly result of EUR 189 thousand with sales revenue of EUR 2,033 thousand – positive EBIT of EUR 186 thousand
LION E-Mobility AG is pleased to announce that LION Smart GmbH was able to generate a positive quarterly result of EUR 189 thousand in the first quarter of 2020.
This is mainly due to the significant increase in sales revenues, which amounted to EUR 2,033 thousand in the first quarter, compared to EUR 1,595 thousand in the full financial year 2019 and 199 TEUR in the first quarter of 2019. With a cost of materials of approx. EUR 899 thousand and external services purchased of EUR 115 thousand, the 1st quarter 2020 gross margin of EUR 1,017 thousand or approx. 50.01%.
Taking into account a personnel cost ratio including ancillary costs of 23.41% and increased overhead costs, this results in an operating profit before depreciation (EBITDA) of EUR 208 thousand or 10.22%. The depreciation of fixed assets in the amount of EUR 22 thousand in the first quarter resulted in an EBIT of EUR 186 thousand and an EBIT margin of 9.15%.
The loan granted to TÜV SÜD Battery Testing GmbH in the amount of EUR 2.4 million now results in a slightly positive financial result, which is now significantly higher than in the same quarter of the previous year and on the balance sheet date, December 31, 2019.
As of the quarterly reporting date, March 31, 2020, LION Smart GmbH had bank balances of EUR 1,226 thousand. Current trade payables amount to EUR 767 thousand, trade receivables total EUR 233 thousand, while other current payables amount to EUR 72 thousand.
The Management of LION E-Mobility AG continues to expect a positive business trend for LION Smart GmbH in the financial year 2020. Negative financial effects, which also have their cause in COVID 19 – especially with upstream suppliers but also with necessary human resources –, cannot be completely ruled out at the present time.
The figures published by LION GmbH here are preliminary figures of quarterly results. These can change in the course of the preparation of the annual financial statements, the same applies to the review of the annual financial statements by an external auditor.
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 will. LION E-Mobility AG is under no obligation to update the forward-looking statements in this press release.