LION E-Mobility AG: Quarterly results of LION Smart GmbH to September 30, 2019
09 Dec 2019
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DGAP-News: LION E-Mobility AG
/ Key word(s): Quarterly / Interim Statement/9 Month figures
Third Quarter 2019 - Revenues and order backlog in Q3 and current year 2019 improved significantly year-on-year - further increase expected for 2020
Preliminary HGB figures of LION Smart GmbH as of September 30, 2019 In the third quarter of 2019, LION Smart GmbH, a subsidiary of LION E-Mobility AG, slightly increased its total operating performance compared to the same period of the prior year. The total operating performance of EUR 1,365 thousand in the third quarter of 2019 mainly resulted from revenues of EUR 1,053 thousand, as well as internally generated intangible assets and commenced but not yet invoiced orders. The increased revenue for each quarter of 2019 compared to prior years is positive. Projects and orders that have been shifted to 2020 mean that the targeted forecast of EUR 2,000 thousand will not be achieved, therefore the management expects a significant increase in sales for 2020. EBITDA remains negative at EUR - 421 thousand. This is due to two main reasons: LION continues to have high development costs for the LIGHT Battery and the Single Cell BMS, also incurring high customer demand for individual projects and expenses related to the development of battery prototypes and construction, while revenues are expected to follow. TÜV SÜD Battery Testing GmbH, LION's Joint Venture with TÜV SÜD AG, continues its growth trajectory and expects another record year for sales, EBIT and net income in 2019. Jointly with TÜV SÜD, further investments were authorized in the third and fourth quarter to support and drive the strong growth of TSBT. For the financial year 2020, the management anticipates a significant increase in sales and positive periodic results. The prerequisites for this are the completion of the LIGHT Battery and the Single Cell BMS to be manufactured as well as the realization of the continuously high customer inquiries for individualized battery and mobility solutions. The completion and official presentation of the touch and test modules of the LIGHT Battery in November 2019 was an important milestone for LION Smart to demonstrate that new standards can be achieved in terms of shorter charging time, higher power density, improved thermal management and highest safety standards.
About LION E-Mobility:LION E-Mobility AG is a listed Swiss holding company founded in 2011 with promising strategic investments in the E-Mobility sector, especially in the field of electric energy storage and lithium-ion battery system technology. The company owns 100% of the German company LION Smart GmbH, a developer of battery packs and battery management systems. LION Smart GmbH also holds a 30% stake in TÜV SÜD Battery Testing GmbH, a successful joint venture with TÜV SÜD AG. Press contract:
Disclaimer: This presentation contains forward-looking statements that involve a number of risks and uncertainties, including statements that relate to, among other things, the Company's objectives, goals, strategies, intentions, plans, beliefs, expectations and estimates, and can generally be identified by the use of words such as "may", "will", "could", "should", "would", "likely", "expect", "intend", "estimate", "anticipate", "believe", "plan", "objective" and "continue" (or the negative thereof) and words and expressions of similar import. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed on such statements. Certain material factors or assumptions are applied in making forward-looking statements, and actual results may differ materially from those expressed or implied in such statements. Important factors that could cause actual results to differ materially from expectations include but are not limited to: general business and economic conditions (including but not limited to currency rates and creditworthiness of customers); Company liquidity and capital resources, including the availability of additional capital resources to fund its activities; level of competition; changes in laws and regulations; legal and regulatory proceedings; the ability to adapt products and services to the changing market; the ability to attract and retain key executives; and the ability to execute strategic plans. The Company does not undertake any obligation to update publicly or to revise any of the forward-looking statements contained in this presentation, whether as a result of new information, future events or otherwise, except as required by law.
09.12.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
| Language: | English |
| Company: | LION E-Mobility AG |
| Lindenstraße 16 | |
| 6340 Baar | |
| Switzerland | |
| Phone: | +41 (0)41 500 54 11 |
| Fax: | +41 (0)41 500 54 12 |
| E-mail: | info@lionemobility.de |
| Internet: | www.lionemobility.com |
| ISIN: | CH0132594711, CH0132594711 |
| WKN: | A1JG3H , A1JG3H |
| Listed: | Regulated Unofficial Market in Frankfurt, Hamburg, Munich (m:access) |
| EQS News ID: | 931839 |
| End of News | DGAP News Service |