- Lilium NV LILM reported FY22 liquidity of €206 million at 2022-end versus €160 million at the end of 3Q22.
- The adjusted cash spend for FY22 was in line with the budget plan.
- LILM had initiated significant cost conservation as part of the cost-saving program. Lilium said it strictly focuses on activities essential to achieving key program milestones.
- The company signed a Memorandum of Understanding with ifly (Greece), growing its order pipeline to potential sales of up to 640 jets.
- For 1H23, LILM is targeting a budget of €125 million, in line with the spending level of 2022, with increasing supplier costs mitigated through the cost-saving program.
- As of the end of February 2023, Lilium had filed a total of 80 new patent applications with the U.S. Patent Office, the European Patent Office (EPO) and other offices, of which 47 patents have been published.
- The company stated that it has selected or contracted ~78% of the total expected aircraft bill of material (BOM) cost.
- LILM anticipates that European Union Aviation Safety Agency (EASA) will formally agree to its certification program, including the remainder of its MoCs and Certification Plans, in the second half of 2023.
- Lilium said it remains on track for type-certification of the Lilium Jet with the EASA in late 2025.
- Lilium CEO Klaus Roewe commented, "We are also in active discussions to secure additional funding and are very encouraged by the interest from potential investors and partners."
- Price Action: LILM shares are trading lower by 0.42% at $0.6695 on the last check Tuesday.
- Photo Via Company
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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