Lilium releases Full Year and Fourth Quarter 2023 Shareholder Letter
London, 28 February 2024, (Oilandgaspress): – Lilium N.V. (Nasdaq: LILM) (“Lilium”), developer of the first all-electric vertical take-off and landing (“eVTOL”) jet, has released its Full Year and Fourth Quarter 2023 Shareholder Letter. The Shareholder Letter, which discusses Lilium’s progress towards important milestones in the development of its revolutionary Lilium Jet, can be accessed on the Lilium investor relations website.
Recent Accomplishments
Received Design Organizational Approval from the European Union Aviation Safety Agency (EASA), making Lilium the world’s first company qualified to hold a full type-certificate for aircraft certified under EASA’s SC-VTOL rules.
Began assembly of the first full-scale Lilium Jet at Lilium’s production facilities.
Formalised an MoU for a strategic cooperation with Lufthansa to jointly explore holistic eVTOL opportunities.
Extended partnership with Inobat to prepare high-volume battery cell production confirming Lilium’s multiple-sourcing strategy.
Established eVTOL industry’s first Aftermarket Service Business, Lilium POWER-ON, which is expected to generate at least $5 billion in recurring revenue by 2035, with strategic partnerships already in place for aircraft spares, maintenance and repair and for fast charging solutions.
In 2023, completed significant funding to maintain the pace of aircraft development by successfully raising $292 million in additional capital, and also received first customer pre-delivery payments for the Lilium Jet ahead of expectations. Strong execution on cost management led to cash consumption below guidance.
Management Commentary
Lilium CEO Klaus Roewe commented:
“For Lilium, 2023 was a pivotal year, in which we transitioned from design to production of the Lilium Jet, confirmed our credentials as an aviation company by receiving Design Organization Approval from EASA and secured important airline and battery cell production partnerships.
2024 will be another key year for our company with the next important milestone in our aircraft development program, first manned flight of the Lilium Jet, targeted for the end of the year. “
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