LION E-Mobility AG (LION; ISIN: CH0560888270), a manufacturer of battery packs for electric mobility and energy storage solutions, has published its Q1 2026 results. The company generated revenue of EUR 3.3 million in the first quarter, down from EUR 6.5 million in Q1 2025, as anticipated due to a strategic transition to new high-performance NMC+ battery cells. EBITDA remained positive at EUR 0.3 million (Q1 2025: EUR 1.5 million), yielding an EBITDA margin of 10.1%. Operating cash flow increased to EUR 3.0 million from EUR 1.0 million in the prior year, attributed to cost discipline and improved supplier payment terms.
The Q1 results reflect the company's shift toward battery packs utilizing the new NMC+ cells, which will be available for sale starting in Q3 2026. CEO Dr. Joachim Damasky commented, "The conversion of our production lines to the new high-performance battery cells is progressing well. This is an important step toward future growth. The demand for the new battery packs is already high and with production set to resume at the end of June, we expect a significant uplift in revenues in the second half of the year." He added that the momentum in the company's Battery Energy Storage Systems (BESS) business supports optimism for 2026.
LION's BESS business is gaining traction. The company sold its first BESS project in Q4 2025, a 5 MW / 20 MWh installation scheduled to go into operation in summer 2026. This milestone marks expansion into large-scale energy storage and underscores demand for LION's value proposition combining cost expertise, German engineering, and bankability. The pipeline of BESS quotations exceeds 7.5 GWh, involving more than ten customers. A second German project for 5 MW / 10 MWh is in final negotiations with delivery planned for 2026. To support this growth, LION has hired three new sales team members dedicated to the BESS segment, and strategic partner LEAPENERGY is intensifying activities in the German market. Tailored payment terms and a robust guarantee framework—including two independent performance guarantees and a bank guarantee—position LION competitively.
Additionally, the defense sector offers 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 in demanding environments.
LION confirms its fiscal 2026 outlook, expecting revenue above EUR 35 million and strongly positive EBITDA. In Q2 2026, battery pack production will be temporarily affected by a planned two-month factory shutdown for conversion to NMC+ cells, with operations resuming at the end of June. As of May, production is shut down while assembly lines are updated. Q2 sales are expected to be higher than Q1, coming from remaining inventories already sold. A significant portion of 2026 revenues is anticipated in the second half of the year.
LION E-Mobility AG is a manufacturer of lithium-ion battery packs offering customized plug-and-play solutions for electric vehicles, stationary, and industrial applications. With an annual production capacity of 2 GWh at its highly automated German facility, the company addresses growing demand for high-performance energy storage. Founded in 2011, LION is listed on stock exchanges in Munich, Frankfurt, and Hamburg. More information is available at www.lionemobility.com.
