LION Smart informs about the Release of Guidance for 2023/24

28.11.2022

Baar (CH), 28. November 2022

Sales & profits

  • 2022 Update: Sales expected to be in the range of EUR 50-55 million.
  • Sales in 2023 expected to be in the EUR 70-80 million range.
  • Sales in 2024 expected to be in the EUR 100-110 million range.

  • Our expectation is for this growth to be profitable. But no current earnings guidance given at this stage.

Customers

  • We have 10 customers in our sales pipeline for 2023. The sales guidance is based on projected demand these customers have given us for 2023.
  • These customers are split roughly equally between stationary storage and E-Mobility by value.
  • We have been positively surprised by storage demand.

Production plant

  • We have a good funding plan in place – including up to EUR 2.1 million of subsidies granted by the State of Thuringia.
  • All equipment has now been delivered to Hildburghausen.
  • The production line has been fully reassembled.
  • Each sub-station of the production line is now being brought into operation step by step through December.
  • Re-qualification will take place in January and February. 

Product

  • We continue development work on pack upgrades and will post key milestones as and when they occur.
  • Work continues on LIGHT battery development with an OEM as previously released and we will post on further key milestones.

Conclusion

  • We are now a fully fledged pack design and manufacturing business with an approximate 2 GWh capacity on site requiring no further equipment investment. We do have the ability to expand this further on site. We own 100% of this business.
  • We can discuss more on our Q3 update call in a few weeks.

About LION E-Mobility AG

LION E-Mobility AG is a listed Swiss holding company founded in 2011 with promising strategic investments in the e-mobility sector, particularly in the field of electrical energy storage and lithium-ion battery system technology. The company owns 100% of the German 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 joint venture with TÜV SÜD AG. LION E-Mobility AG also holds 100% of the shares in LION E-Mobility North America Inc. and 100% of the German LION Smart Production GmbH.

www.lionemobility.com

Responsible for the press release: BoD LION E- Mobility AG

LION E-Mobility AG

Alessio Basteri

Chairman

LION E-Mobility Investor Relations

Frank Schönrock (Weber Shandwick)

Phone: +49 (0) 1737025315

E-Mail: ir@lionemobility.com | www.lionemobility.com

–

Arne Siegner

Phone: +41 (0) 41 500 54 11

E-mail:  ir@lionemobility.com | www.lionemobility.com

Disclaimer:

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.