LION E-Mobility AG Achieves Revenue Goals for 2023 and Predicts Further Growth in 2024

LION E-Mobility AG reported solid financial results for fiscal year 2023, with a 4% increase in revenue amounting to €56.1 million, slightly over their target. The Switzerland-based battery pack producer for e-mobility and energy storage solutions attributes this success to strong sales in electric trucks and buses in North America and Europe, as well as the Behind-The-Meter Commercial and Industrial sector in Europe. Despite the revenue increase, the company saw a decrease in EBITDA to -€0.7 million and EBIT to -€1.6 million, primarily due to investments in their new production site and a customer order impairment.

LION's operational improvements led to a positive operating cash flow of €2.1 million for 2023, a significant turnaround from the previous year. Looking ahead to 2024, LION anticipates a revenue bump of around 11%, expecting to achieve €60 million to €65 million, driven by recent orders and ongoing negotiations. The company remains optimistic about its growth prospects, fueled by strategic investments and technological collaborations aimed at enhancing product performance and operational efficiencies.