LION E-Mobility Cuts 2026 Revenue Outlook to €20–25 Million
Key Facts
On November 9, LION E-Mobility cut its revenue outlook for fiscal 2026 to a range of €20 million to €25 million, down from its previous forecast of more than €35 million. The company said revenue fell short of expectations because of delays in delivery orders from mobility-sector customers, long lead times for battery energy storage system components and transportation delays in the supply chain related to the geopolitical situation. The company reported preliminary, unaudited figures showing revenue of €15.4 million in the first nine months of the year. Third-quarter revenue was €8.5 million, while EBITDA for the period was €0.1 million. The company maintained its forecast for positive EBITDA for the year, after its previous outlook had pointed to a strong positive level.
EBITDA in the first nine months was €0.2 million, following €0.1 million in the third quarter alone. The company said delays in delivery orders from mobility customers limited the revenue that should have been recorded during the period. Lead times for battery energy storage system components also lengthened, alongside transportation delays that the company attributed to the geopolitical situation. It said these factors delayed the fulfillment of orders and projects, with some shifting to next year. This means timing pressures affected both the storage systems and NMC+ battery businesses, according to the disclosure.
Chief Executive Joachim Damasky said customers shifted their orders to next year, lowering revenue for the current year, but stressed that the company would remain profitable at the EBITDA level. He added: "The NMC+ order book for 2027 gives us a solid foundation." The disclosure said the main customers for NMC+ packs in the third quarter were in the bus and commercial vehicle sectors in Europe and North America. It said the defense sector represents an additional customer group for safety- and mission-critical applications. These signals put the order book and the markets the company targets at the center of its bet that deferred business will shift to next year.
In its storage business, the company said it secured additional projects for stationary battery energy storage systems with a total capacity of 30 megawatt-hours during the third quarter. LION is setting up a service center in Hildburghausen to operate, maintain and repair storage systems. It is also developing a "storage as a service" model for solar and wind farm operators, allowing them to use storage capacity without an upfront investment. These projects are proceeding alongside delays in the supply of storage system components, which the disclosure cited among the reasons for the revenue outlook cut. The projects' effect on this year's figures will depend on the timing of execution and delivery, which the company described as delayed.
In April, the company had tied a large share of 2026 revenue to the second half of the year, following a planned production halt to convert to high-performance NMC+ cells. In that announcement, it said battery pack production would be temporarily affected by a planned two-month factory shutdown in the second quarter for conversion work, with operations scheduled to resume at the end of June. It also announced preliminary figures for 2025 showing revenue rose 68% to €28.3 million from €16.9 million in 2024. EBITDA in 2025 was about €7.5 million, compared with negative €3.6 million in the previous year. Those figures provide background on the company's trajectory before its latest outlook cut, but relate to earlier periods.
LION scheduled the release of full results for the first nine months of the year for November 11, 2026. Those figures will replace the preliminary, unaudited data the company announced on November 9. The next disclosure is focused on confirming results for the period, when revenue was €15.4 million and EBITDA was €0.2 million. The annual outlook is for revenue of €20 million to €25 million, with the company maintaining its forecast for positive EBITDA. The company linked the revenue cut to delays and the shift of some orders and projects to 2027.