LION E Mobility (LMIA) Q2 2026 earnings summary

Executive summary

• Revenue for H1 2026 declined to €6.9m from €10.4m year-over-year, impacted by prior year-end customer inventory build-up and a Q2 2026 production shutdown.

• EBITDA remained slightly positive at €0.1m, down from €1.3m in H1 2025, reflecting adverse revenue impacts.

• Net result was a loss of €0.8m, compared to a €0.2m loss in H1 2025.

• Operating cash flow decreased to €1.3m due to higher working capital needs from increased supplier payments and delayed customer payments.

• BESS business expanded with new projects and a strengthened sales and engineering team.

Financial highlights

• Total earnings dropped to €9.0m from €12.2m year-over-year.

• Cost of materials decreased to €4.2m, but the ratio increased due to higher procurement costs and reduced high-margin services.

• Personnel expenses fell to €2.8m, reflecting streamlined project and accounting processes.

• Finance expenses reduced to €0.4m from €0.9m, following loan repayments.

• Other operating income included a €500,000 customer penalty and a €0.6m minimum order shortfall fee.

Outlook and guidance

• Serial production of NMC+ battery packs began in June 2026, with further automation planned for September.

• Expecting ramp-up in BESS and mobility battery sales, with new projects in pipeline and ongoing customer interest.

• Anticipate higher working capital needs as turnover increases, especially due to prepayment requirements for battery cells from China.

• Production capacity can reach 8,000–10,000 packs per year with current line; further expansion possible with additional investment.

• Multiple BESS projects in Germany are progressing, with additional contracts expected in Q3 and Q4 2026.