LION E-Mobility AG announces preliminary annual results for 2014: 103% increase in turnover at LION Smart GmbH compared to the prior year.
In the fiscal year 2014 LION Smart GmbH, a subsidiary of LION E-Mobility AG, managed to increase its turnover by 103%.
In 2014 LION Smart GmbH, a development service provider for high-performance energy storage systems and manufacturer of system components for batteries has further increased its investments into the product range of battery-management-systems and also managed to expand its strong position in the segment of battery-prototyping. With increased revenues of 513 TEUR (prior year: 252 TEUR) the company was able to meet its targeted operating result of -6 TEUR (prior year: 64 TEUR) for the fiscal year due to considerably increased investments and significantly decreased proportion of its external debt ratio. Earnings changed from 1.2 TEUR in the prior year to -13.5 TEUR. In addition to an extension of the machinery pool for the production of high-performance battery systems the workforce was further increased by four employees. The outlook for 2015 is also very positive: Order books are well filled and the latest edition of open-source battery-management-systems in already in use at selected clients. Due to the pleasant order situation, for 2015 we expect a further doubling of our turnover.
The joint-venture TÜV SUED Battery Testing GmbH was able to further increase its turnover in the fiscal year 2014. In comparison to the prior year turnover rose by 10.5% to 2.961 TEUR (prior year: 2.679). Moreover 331 TEUR nonsales-related revenues were generated in 2014. Balance sheet total increased by 2.9% from 8.199 TEUR to 8.435 TEUR. As a result of a significant laboratory expansion as well as various beginning-of-the-year and special-items effects, such as the initial operation of new crash-test facilities in Oberpfaffenhofen, annual profits changed from 169 TEUR to -270 TEUR. EBITDA changed from 786 TEUR to 412 TEUR. In the course of our growth strategy testing capacities for cell-, module- and destructive tests were further expanded. Also new crash test facilities were added to the test portfolio. After mastering the challenges the first two quarters of 2014, TÜV SUED Battery Testing GmbH to achieve new records of turnover in the second half of the year. Therefore we also anticipate a positive outlook in this business segment for 2015.
About LION E-Mobility AG
LION E-Mobility AG (WKN: A1JG3H, Ticker: LMI, Reuters: LMIG.MU) is a Swiss Holding with strategic investments in the e-mobility sector, particularly in the field of electric energy storage as well as battery pack development and management. The Company holds 100% of the German LION Smart GmbH, a development and engineering company specialized on custom designed battery packs and battery-management-systems. LION Smart GmbH further holds a 30% stake of the TÜV SUED Battery Testing GmbH, a dynamically growing joint venture with the renowned TÜV SUED AG. Members of the Board of Directors are: Mr. Dipl.-Ing. Daniel Quinger (President of the Board), Dr. Isolde Semm, Dipl.-Ing. Tobias Mayer and Dipl.-Ing. (FH) Martin Specht. The Management of LION Smart GmbH consists of Dipl.-Ing. Tobias Mayer and Mr. Walter Wimmer. The Managing Director of the TÜV SUED Battery Testing GmbH is Dipl.-Wi.-Ing. (FH) Johannes Brey. For more information please visit our homepage: www.lionemobility.com