Positive outlook for LION E-Mobility AG for the financial year 2021
Order from the Canadian customer of approx. 26 million euros
Revenue forecast for 2021 thus approx. EUR 28 to 30 million – revenue almost doubled compared to the previous year
Slightly positive EBIT result on LION E-Mobility AG group level expected
Development of the Light Battery will continue
Further development orders expected in the industrial sector
Order with a total volume of EUR 26 million from Canadian customer
Zug, 20 January 2021 – LION Smart GmbH, a wholly owned subsidiary of LION E-Mobility AG, developer of electrical energy storage systems and lithium-ion battery system technology based in Garching, Germany, has received an order with a total volume of EUR 26 million from its Canadian customer for the supply of battery storage systems. Together with other expected orders that are still being negotiated, LION Smart is expecting a positive financial year. These figures will largely be reflected in a similar way in the relevant key figures of LION E-Mobility AG.
“The sales revenues and the positive EBIT from this major order will not be evenly distributed over the quarters,” says Thomas Hetmann, CEO of LION Smart. “While we expect the lowest revenues and a negative EBIT related to the financial year in the first quarter, we will increase revenues and also our EBIT as the year progresses in line with further deliveries to the Canadian customer.”
Hetmann continues: “Particularly as a result of this major order, LION E-Mobility AG expects to generate revenue of EUR 28 to 30 million in 2021. This means that revenue will almost double compared with the revenue of around EUR 17 million generated in 2020. Along with this, LION E-Mobility AG expects a positive EBIT result for the year at group level. However, the Corona restrictions continue to represent a significant unknown in our estimates and planning. Changes to our forecast in the course of the year can therefore not be completely ruled out, but we will be working hard over the course of the year to increase our order book further still.”
The driver of this positive forecast is the strengthened customer base, primarily through customers in North America and Canada. Existing development contracts, particularly from the partnership with a Tier 1 automotive supplier that has been in place since 2020, will also be further expanded according to current information. LION Smart is in positive discussions about this with the aim of continuing the successful collaboration.