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DGAP-News: LION E-Mobility AG / Key word(s): Quarter Results/Preliminary Results
LION Smart GmbH reports a good start to the 2022 financial year
- Sales in Q1 (EUR 13.2 million) in line with expectations and significantly above the level of the previous year (2021: EUR 2.6 million)
- EBITDA negative at EUR 0.028 million (2021: EUR 0.208 million)
The change in work in progress and finished goods and work in progress decreased by EUR 0.107 million compared to December 31, 2021, mainly due to the completion of projects in the first quarter of 2022.
Compared to the previous year (March 31, 2021), total operating performance (sales, own work capitalized, changes in inventories) increased significantly by EUR 10.384 million to EUR 13.093 million.
The cost of materials - comprising the cost of materials and other purchased services - increased to EUR 11.839 million (previous year: EUR 1.986 million), due in particular to the higher volume of business. As a result, the cost of materials ratio (calculated from the ratio of cost of materials to sales and changes in inventories) was 90.42% (previous year: 73.33%).
Consequently, gross profit of EUR 1.254 million (previous year: EUR 0.723 million) was generated for the reporting period, corresponding to a gross profit margin of 9.58%.
Personnel expenses increased compared to the previous year. In the first quarter, LION Smart GmbH employed a total of 44 permanent staff and 6 student trainees (previous year: 41 in total). The personnel deployment ratio for the first quarter was 6.63%, compared with 22.84% in the same period of the previous year.
Accumulated earnings before interest and taxes (EBIT) as of March 31, 2022, amount to EUR -0.059 million (previous year: EUR -0.283 million) due to the high cost of materials.
The financial result of LION Smart GmbH is negative. Interest expenses for loans drawn down in the reporting period totaled EUR 0.020 million. In the 1st quarter, loans to natural persons in the amount of EUR 0.273 million were repaid.
In the period under review, LION Smart GmbH generated earnings before taxes of EUR -0.066 million (previous year: EUR -0.275 million).
In the first quarter of 2022, no development costs were recognized as own work capitalized. As of March 31, 2022, internally generated intangible assets remained unchanged at EUR 2.425 million (December 31, 2021: EUR 2.425 million).
Non-current assets decreased slightly to EUR 7.421 million (December 31, 2021: EUR 7.434 million). Property, plant and equipment decreased slightly by EUR 0.017 million to EUR 0.339 million (December 31, 2021: EUR 0.356 million). Intangible assets increased slightly to EUR 2.492 million (December 31, 2021: EUR 2.488 million). Loans to companies in which an equity investment is held, which are reported under financial assets, remained unchanged. (December 31, 2021: EUR 2.040 million).
Current assets increased by EUR 7.255 million to EUR 12.095 million (December 31, 2021: EUR 4.840 million). Trade receivables increased significantly by EUR 2.706 million to EUR 5.560 million (December 31, 2021: EUR 2.854 million), in particular due to the increased business volume. Against this background, trade payables also increased. As of March 31, 2022, cash and cash equivalents amounted to EUR 2.135 million due to bank balances, compared to EUR 1.126 million as of December 31, 2021.
The equity of LION Smart GmbH amounted to EUR 6.071 million at the end of the reporting period (December 31, 2021: EUR 5.587 million). The equity ratio as of March 31, 2022 decreased to 30.34% compared to the balance sheet date, December 31, 2021 (December 31, 2021: 41.44%). In the first quarter, LION E-Mobility AG made capital contributions of EUR 0.55 million.
Current provisions total EUR 0.348 million as of March 31, 2022. Other provisions mainly include personnel costs such as overtime, vacation not taken and variable salary components.
Current liabilities increased by EUR 7.785 million to EUR 12.541 million in the financial year (December 31, 2021: EUR 4.756 million) and consist in particular of trade payables. There are no non-current liabilities as of the first quarter of 2022.
Cash flow and financing as of March 31, 2022
Cash flow from financing activities was positive in the first quarter and amounted to EUR 0.550 million (previous year: EUR 0.710 million). The main reason for this was the cash inflow from the sole shareholder, LION E-Mobility AG, in the amount of EUR 0.55 million.
Outlook for the 2022 financial year
About LION E-Mobility AG:
Responsible for the press release: BoD LION E- Mobility AG
05.05.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
LION E-Mobility AG
+41 (0)41 500 54 11
+41 (0)41 500 54 12
Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt, Hamburg, Munich (m:access), Tradegate Exchange
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