Lilium releases Fiscal Year 2022 Shareholder Letter

Lilium releases Fiscal Year 2022 Shareholder Letter

29-Mar-2023 Source: Lilium

Lilium N.V. (Nasdaq: LILM) (“Lilium” or the “Company”), developer of the first all-electric vertical take-off and landing (“eVTOL”) jet, has released its fiscal year 2022 Shareholder Letter. The Shareholder Letter, which discusses Lilium’s achievement of important milestones in the development of its revolutionary Lilium Jet, can be accessed on the Lilium investor relations website.

Recent Accomplishments

  • Achieved cruise speed of the Lilium Jet (250 km/h; 155 mph) with Phoenix demonstrator, underlining Lilium’s confidence in the flight physics and performance of the type-conforming aircraft due to start production later this year.
  • Continued successful execution of Lilium’s commercial strategy with first pre-delivery payments from eVolare and additional new customers including ifly (Greece) bringing the total order pipeline to 640 Lilium Jets.
  • Significant battery advancements with game-changing performance and cycle life confirmed by a third-party independent laboratory and a cell production line in place at Customcells, aligning towards rigorous aerospace standards.
  • Remained on track for type-certification, with submission of Certification Plans covering 100% of EASA’s aircraft airworthiness requirements (up from approximately 80% in December 2022); successfully completed third EASA DOA audit.
  • Signed key agreements with world-class aerospace suppliers including Collins Aerospace and GKN Aerospace and began ramping up collaboration with existing suppliers, including layup molds being built by Aciturri for type-conforming composite fuselage.
  • Year-end 2022 liquidity at €206 million; active and constructive discussions on follow-up funding in progress.

Management Commentary

Lilium CEO Klaus Roewe commented:

“We are proud to share our progress in advancing the development of our Lilium Jet. Our team has achieved important milestones, which reinforce our conviction that we will deliver a truly differentiated jet engine-powered eVTOL aircraft. Building on the successes of 2022, we anticipate yet another transformational year for Lilium in 2023. Our leadership team, with its deep expertise in certifying aircraft, plans to complete and freeze the final design of our type-conforming aircraft. We are also in active discussions to secure additional funding and are very encouraged by the interest from potential investors and partners.”

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