LION's Q2 beat estimates despite NMC+ transition drag; revenue € 3.6m, EBITDA -€ 0.1m. Production ramp-up underway; FY26 guidance intact. BUY, PT cut to € 2.8 (from € 3.2) on elevated Working Capital investment expectation.
14 Aug 2026
Q2 26: Transitional quarter in the books, acceleration in H2 26e
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Q2 26: Transitional quarter in the books, acceleration in H2 26e
LION's Q2 beat estimates despite NMC+ transition drag; revenue € 3.6m, EBITDA -€ 0.1m. Production ramp-up underway; FY26 guidance intact. BUY, PT cut to € 2.8 (from € 3.2) on elevated Working Capital investment expectation.