Preliminary HGB annual figures for LION Smart GmbH as of December 31, 2019 and outlook for TÜV SÜD Battery Testing GmbH

16.03.2020

LION E-Mobility AG announces that the revenues of LION Smart GmbH with customers have increased significantly compared to the previous year. They will be in a range of EUR 1.70 – 1.90 million compared to EUR 0.94 million from 2018.

Own work capitalized, i.e. Capitalization of development expenses for internally generated intangible assets amounted to approximately EUR 0.504 million in the past financial year. As of December 31, 2019, internally generated capitalized assets of approximately EUR 1,693 million were capitalized, compared to EUR 1,189 million in the previous year

Orders from customer projects that had not yet been completed amounted to approximately EUR 0.164 million as of the balance sheet date. With the inventory increase of EUR 0.86 million compared to the previous year, total output in the 2019 financial year was approximately EUR 2,502 million compared to EUR 2,232 million in 2018.

Taking into account lower personnel expenses and overhead costs, the current negative operating result before depreciation, interest and taxes (EBITDA) is approx. EUR – 1.023 million. In the previous year, the negative EBITDA was EUR -1,035 million. Taking into account depreciation in the financial year of EUR 0,088 million, EBIT (earnings before interest and taxes) currently amounts to EUR -1.111 million.

Loans granted to TSBT amounting to EUR 1.8 million resulted in a marginally negative financial result that was significantly higher than in the previous year.

Overall, the net loss of the year will range from EUR 1,0 million to EUR 1,2 million.

In addition, fixed assets are mainly consisting of internally generated intangible assets in the amount of EUR 1.693 million, but also through investments in fixed assets of machines and property, plant and equipment in the current year.

Current assets include inventories of customer projects that have not yet been completed, as well as receivables and cash and cash equivalents, which amounted to EUR 0.293 million as of 12/31/2019.

Equity is still clearly positive despite the expected loss for the year. This is due to the capital contributions by LION E-Mobility AG to the capital reserve of LION Smart GmbH totalling EUR 7.2 million as of 12/31/2019.

TÜV SÜD Battery Testing GmbH:

LION Management expects from the past fiscal year of TÜV SÜD Battery Testing GmbH, the joint venture of LION Smart GmbH and TÜV SÜD AG, again a good operating result and a net operating profit for the past fiscal year 2019. Overall, LION Smart GmbH has for the growth of TSBT further financed a total of 1.8 million euros.

Disclaimer:

The figures published by LION GmbH here are preliminary figures. These may change in the course of the current preparation of the annual financial statements, as well as to the audit 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 become. LION E-Mobility AG is under no obligation to update the forward-looking statements in this press release.