LION E Mobility (LMIA) Q3 2025 earnings summary

Executive summary

• Revenue for the first nine months of 2025 rose to €16.3m from €12.4m year-over-year, driven by higher delivery volumes and strong customer demand.

• EBITDA improved to €2.4m from -€6.0m, reflecting better cost structure and operational leverage.

• Operating cash flow turned positive at €3.8m, compared to -€4.1m in the prior year, supported by earnings growth and working capital discipline.

• Major operational progress in BESS, with first project win in Germany (5 MW/20 MWh) and a sales pipeline exceeding 7.5 GWh across Europe.

• Advancements in immersion cooling technology and partnerships with Castrol, major OEMs, and Leap Energy to enhance product offerings and market reach.

Financial highlights

• Revenue increased to €16.3m from €12.4m year-over-year.

• EBITDA margin improved to 14.9% from -48.4% year-over-year.

• EBIT reached €1.3m, up from -€7.0m, with EBIT margin at 8.2%.

• Cost of materials declined to €8.3m from €10.9m, reflecting procurement efficiency.

• Finance expenses decreased to €1.3m due to reduced bank credits and loans.

Outlook and guidance

• Targeting €20–25m turnover from Leap partnership in 2026, with high probability based on current project pipeline.

• BESS expected to contribute around 50% of turnover, maintaining a dual-pillar business model.

• Serial production of new battery modules to start in April 2026, with customer integration and homologation tests completed.

• Plans to extend network, expand business services, and enlarge product portfolio in BESS, with European roll-out and industry event participation.

• Serial supply of immersion cooling technology anticipated in two to three years, pending further development and infrastructure readiness.