Zug (Switzerland), 25 September, 2023 - Ad-hoc: LION E-Mobility AG, a stock listed company for the development and production of electrical energy storage systems and lithium-ion battery system technology, today announced a revision to its FY 2023 guidance due to recent developments, emphasizing a positive outlook and continued good growth prospects.

The company anticipates sales for FY 2023 now to be between EUR 55m and EUR 65m compared to 70m to 80m of the former guidance. The revised guidance still represents a double-digit year-on-year growth.

The adjustment in guidance arises - inter alia - from the bankruptcy of a potential new customer. Despite of this customer's current challenges, LION E-Mobility AG maintains an optimistic stance regarding future collaboration. The reasons for this is, that the client believes that, once they overcome their financial hurdles and find a solution, the possibility of future orders from the client remains promising.

Furthermore, LION E-Mobility AG reports that this guidance adjustment will not have any significant financial impact on the company. The core business of the company continues to thrive, with its existing customer base demonstrating solid growth.

Importantly, LION E-Mobility AG wants to reassure its stakeholders that this revision will not affect the company's long-term outlook. The recent start of the production gives
LION E-Mobility AG the ability to participate in the secular growth trends the entire industry is experiencing.

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, especially in the field of electrical energy storage and lithium-ion battery system technology. The company holds 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 successful joint venture with TÜV SÜD AG. LION E-Mobility AG also holds 100% of the shares in LION Smart North America Inc., LION E-Mobility North America Inc. and 100% of the German LION Smart Production GmbH.

www.lionemobility.com

Responsible for the press release: Board of Directors LION E-Mobility AG

LION E-Mobility AG

Alessio Basteri
 Chairman of the Board

LION E-Mobility Investor Relations

Frank Schönrock
Phone: +49 (0) 1737025315
E-Mail: frank.schoenrock@lionemobility.com | 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.

Attachments

Disclaimer

LION E-Mobility AG published this content on 25 September 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 September 2023 19:42:10 UTC.