LION E Mobility (LMIA) Q3 2024 earnings summary

Executive summary

• Q3 2024 revenue rose to €6.4m, up 33% from Q2 and nearly fivefold from Q1, despite challenging battery markets.

• Cumulative 9M 2024 revenue reached €12.4m, below 9M 2023's €29.8m, but Q3 showed resilience and operational improvements.

• Q3 EBITDA improved to -€1.2m, a 43% reduction in losses from Q2 and 54% better than Q1, reflecting positive operational changes.

• Q3 operating cash flow turned positive at €1.6m, a €3.8m improvement over Q2, highlighting effective cash management.

Financial highlights

• Q3 2024 revenue: €6.4m (+33% vs Q2, ~5x Q1); 9M 2024 revenue: €12.4m (vs €29.8m in 9M 2023).

• Q3 EBITDA: -€1.2m (43% loss reduction vs Q2, 54% vs Q1); 9M 2024 EBITDA: -€6.0m (margin -46.7%).

• Q3 operating cash flow: +€1.6m (improved by €3.8m vs Q2, €5.1m vs Q1); 9M 2024: -€4.1m.

• Total assets at Q3 2024: €40.7m (down from €69.3m at YE 2023); equity at €7.1m (down from €13.5m); current liabilities at €27.8m (down from €47.5m).

• Trade payables down nearly 70% from YE 2023, supporting improved balance sheet structure.

Outlook and guidance

• Mobility market expected to accelerate in H2 2025, especially in the US; European business remains strong.

• Storage market remains difficult, with focus shifting to power niches like UPS and short-duration high-power applications.

• Customer activity increasing, with new opportunities in North America and positive discussions with e-truck and e-bus makers.