LION E-Mobility AG (LION; ISIN: CH0560888270) has published its Q1 2026 results, reporting revenue of EUR 3.3 million, down from EUR 6.5 million in the same period last year. The decline was anticipated as the company undergoes a strategic transition to battery packs equipped with new high-performance NMC+ battery cells. Despite lower revenue, EBITDA remained positive at EUR 0.3 million, yielding an EBITDA margin of 10.1%, compared to EUR 1.5 million in Q1 2025. Operating cash flow improved to EUR 3.0 million, up from EUR 1.0 million, driven by cost discipline and better supplier payment terms.
The Q1 results reflect the temporary impact of converting production lines to the new NMC+ cells. CEO Dr. Joachim Damasky noted that the conversion is progressing well and that demand for the new battery packs is already high. Production is scheduled to resume at the end of June after a two-month factory shutdown in Q2. The company expects a significant revenue uplift in the second half of 2026, with a substantial portion of annual sales anticipated in H2.
LION's Battery Energy Storage Systems (BESS) business is gaining momentum. The company sold its first BESS project in Q4 2025, a 5 MW / 20 MWh installation scheduled to go into operation in summer 2026. The pipeline of BESS quotations now exceeds 7.5 GWh, comprising more than ten customers. A second project in Germany, for 5 MW / 10 MWh, is in final negotiations with delivery planned for 2026. To accelerate growth, LION has strengthened its sales team with three new hires dedicated to the BESS segment. Strategic partner LEAPENERGY is also intensifying activities in the German market. LION's competitive positioning is enhanced by tailored payment terms and a robust guarantee framework, including two independent performance guarantees and a bank guarantee.
The defense sector presents additional growth potential. LION is working on several defense-related inquiries, including a collaboration with Mandrill Engineering, where LION Smart’s high-performance battery technology powers an advanced unmanned ground vehicle (UGV), enabling reliable performance and extended mission capabilities.
For the full year 2026, LION confirms its outlook for revenue above EUR 35 million and strongly positive EBITDA. The company expects Q2 2026 sales to be higher than Q1, as remaining inventories are already sold. With production resuming at the end of June, the second half of the year is expected to drive the majority of revenues. The complete results can be viewed in the original release on NewMediaWire.
