LION E Mobility (LMIA) Q2 2025 earnings summary

Executive summary

• Revenue grew 71% year-over-year in H1 2025, reaching EUR 10.4 million, driven by strong market recovery, operational improvements, and new product launches.

• EBITDA turned positive at EUR 1.3 million, a significant improvement from EUR -4.8 million in H1 2024, reflecting cost discipline and better material margins.

• Operating cash flow improved to EUR 3.3 million from EUR -5.8 million, supported by inventory optimization and cost control.

• Transitioning from legacy SDI cell battery packs to new NMC+ battery, with serial production planned for early 2025.

• High customer demand for new battery technology, especially in mobility, retrofitting, and BESS applications.

Financial highlights

• Revenue increased to EUR 10.4 million in H1 2025 from EUR 6.1 million in H1 2024.

• EBITDA improved to EUR 1.3 million (12.1% margin) from EUR -4.8 million.

• Operating cash flow rose to EUR 3.3 million from EUR -5.8 million year-over-year.

• Gross margin increased to 49% due to stable material costs and higher revenues.

• Equity rose to EUR 8.7 million, reflecting shareholder loan conversion and accumulated interest.

Outlook and guidance

• Guidance confirmed for full-year revenue of EUR 28–35 million with positive EBITDA.

• Ramp-up of serial production for new NMC+ battery planned for end of February, with initial deliveries in December.

• Expectation of strong sales in mobility solutions and BESS contracts for the remainder of 2025.

• BESS business expected to grow significantly over the next two years, potentially reaching 50% of turnover.

• Ongoing development of immersion-cooled technology and new projects with German truck manufacturer.