DGAP-News: LION E-Mobility AG: HGB figures of LION Smart GmbH as of December 31, 2019

04/30/2020

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

LION E-Mobility AG announces that the revenue of LION Smart GmbH with customers increased significantly in the 2019 financial year compared to the previous year. Revenue in the 2019 financial year was EUR 1.595 million. Compared to EUR 0.966 million in 2018, this is an increase of 65,11%.

Own work capitalized, i.e. the capitalization of development expenses for internally generated intangible assets amounted to EUR 0.733 million in the past financial year. As of December 31, 2019, internally generated capitalized assets of EUR 1.923 million were capitalized (previous year: EUR 1.189 million).

Orders from customer projects that had not yet been completed amounted to EUR 0.364 million on the balance sheet date. With the inventory increase of EUR 0.159 million compared to the previous year, total output in the 2019 financial year was approximately EUR 2.487 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 -0.828 million. In the previous year, the EBITDA was EUR -1.035 million. Taking into account depreciation in the financial year of EUR 0.88 million, EBIT (earnings before interest and taxes) currently amounts to EUR -0.917 million. The last year EBIT was -1.136 Mio. Euro.

Loans granted to TÜV Süd Battery Testing GmbH amounting to EUR 1.8 million resulted in a marginally negative financial result that was significantly higher than in the previous year. Overall, an annual loss of EUR 0.943 was generated (2018: EUR 1.186 million).

In addition to internally generated intangible assets of EUR 1.921 million, fixed assets are also characterized by investments in property, plant and equipment in the financial 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 on the balance sheet date.

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 in the current financial year. The equity ratio was 64.85% on the balance sheet date.

The audit of the annual financial statements of LION Smart GmbH will be completed by KPMG AG, Munich, at short notice.


TÜV SÜD Battery Testing GmbH (TSBT):

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 an annual surplus for the past fiscal year 2019. Overall, LION Smart GmbH has for that TSBT growth made available a further EUR 1.8 million in the 2019 financial year. In January 2020, a further loan of EUR 0.6 million was granted to TSBT to support the operational expansion.
 
Disclaimer:
The figures published by LION GmbH here are preliminary figures. These can change in the course of the current preparation of the annual financial statements, the same applies to the short-term review 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 will. LION E-Mobility AG is under no obligation to update the forward-looking statements in this press release.