DGAP-News: LION E-Mobility AG: Full Year 2018 results of the TÜV SÜD Battery Testing GmbH post HGB

'TÜV SÜD Battery Testing', a LION Smart GmbH and TÜV SÜD AG Joint Venture managed to record a highly successful 2018.

The 2018 Net Profit increased significantly from 0.64 mln Euro to 1.25 mln Euro. Incuding retained earnings, BAT's Equity increased to 10.07 mln Euro, a 73% Equity Ratio in 2018 vs 71% in 2017.

Fixed Assets grew by 46% to 8.76 mln Euro following ongoing high Investment Rates.

Receivables and other assets dropped by 22% to 4.91 mln Euro. The majority of this reduction comes from a reduction in receivables against Shareholders (-3.46 mln Euro to only 0.3 mln Euro). Trade receivables increased by 2.18mln Euro to 3.75mln Euro following the increase in turnover.

The Balance Sheet remains extremly strong with a 73% Equity Ratio per 31.12.2018. The increase is due to retained earnings of 1.25 mln Euro.

The average number of employees increased from 28 to 36 given the solid order book at TÜV SÜD Battery Testing GmbH.

Key Numbers of TÜV SÜD Battery Testing GmbH for the 2018 business year are:

Net profit: 1.25 mln Euro (+97 % vs 2017)

Equity Ratio: 73 % (71 % in 2017)

Debt Ratio: 27 % (29 % in 2017)

Net- Investments: 2.73 mln Euro

Average Number of Employees 36 (28 in 2017)