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    LILM   NL0015000F41

LILIUM N.V.

(LILM)
  Report
Real-time Estimate Cboe BZX  -  01:18 2022-12-09 pm EST
1.205 USD   -2.82%
12/07Oppenheimer Adjusts Price Target on Lilium to $5 From $24 on Unexpectedly Slow Regulatory Process, Supply Chain Preparation, Maintains Outperform Rating
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12/07Barclays Downgrades Lilium to Underweight From Equalweight, Adjusts Price Target to $1 From $2
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12/07Piper Sandler Adjusts Lilium's Price Target to $7 From $9, Keeps Overweight Rating
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Lilium Engages Astronics for Lilium Jet's Power Distribution System

06/29/2022 | 07:31am EST

MUNICH, Germany, June 29, 2022 (GLOBE NEWSWIRE) -- Lilium N.V. (NASDAQ: LILM) (“Lilium”), developer of the first all-electric vertical take-off and landing (“eVTOL”) jet, has selected Astronics Corporation (NASDAQ: ATRO), a leading provider of advanced technologies for global aerospace, defense, and other mission-critical industries, to design, develop, and build the Lilium Jet’s electrical power distribution system.

Power distribution units play a critical role within the Lilium Jet’s innovative electrical power system. Astronics will be responsible for the secondary power distribution units (SPDUs) and charging power distribution units (CPDUs).

Lilium Jets will each be equipped with two SPDUs and one CPDU. SPDUs are responsible for high voltage (1000 VDC) to low voltage (28 VDC) conversion and for low voltage distribution and protection. Compact and light weight, the SPDUs ensure a reliable supply of power from the batteries to the aircraft’s critical systems, including flight controls, avionics, navigation, communication, sensors, internal and external lights, and passenger comfort.

The CPDU manages the battery charging operation, as well as providing additional and dissimilar sources for high voltage to low voltage power conversion and low voltage power distribution, which minimizes common-cause failure modes between the CPDU and SPDU. It also provides an additional layer of aircraft safety by monitoring insulation, detecting, and reporting short circuit risks across the system.

The supplier agreement follows over a year of collaborative work between the two companies and marks a further key milestone in the industrialization of the Lilium Jet.

Astronics is one of the leading Tier 1 aerospace suppliers in its field, providing innovative power, lighting, and connectivity solutions for aircraft including major commercial aircraft OEMs such as Airbus, Boeing, and Embraer. Astronics also offers complete design, integration, and certification services. The company leads many industry working groups in its field and is a leader for high voltage power distribution in aviation.

Martin Schuebel, Senior Vice President Procurement at Lilium, said: “Astronics is our ideal partner for this very important component of our aircraft. It is our intention to collaborate with the best aerospace suppliers and leverage their expertise. Astronics’ expertise is unique, and their collaborative approach makes them a perfect match for us. The partnership will also help pave the way for the coming industrial ramp-up.”

Jon Neal, President of Astronics Advanced Electronic Systems, said: “Astronics is thrilled to announce Lilium as a launch customer for our CorePower® high voltage products designed for the More Electric Aircraft and eVTOL platforms. This partnership demonstrates the flexibility of our products and our close collaboration with our customers. Astronics is excited to join Lilium in being a part of the evolution of aviation moving towards cleaner, more sustainable, and accessible modes of transportation.”

About Lilium

Lilium (NASDAQ: LILM) is creating a sustainable and accessible mode of high-speed, regional transportation for people and goods. Using the Lilium Jet, an all-electric vertical take-off and landing jet, offering leading capacity, low noise and high performance with zero operating emissions, Lilium is accelerating the decarbonization of air travel. Working with aerospace, technology and infrastructure leaders, and with planned launch networks announced in Germany, the United States and Brazil, Lilium’s 800+ strong team includes approximately 450 aerospace engineers and a leadership team responsible for delivering some of the most successful aircraft in aviation history. Founded in 2015, Lilium’s headquarters and manufacturing facilities are in Munich, Germany, with teams based across Europe and the U.S. To learn more, visit www.lilium.com.

About Astronics Corporation

Astronics Corporation (NASDAQ: ATRO) serves the world’s aerospace, defense, and other mission critical industries with proven, innovative technology solutions. Astronics works side-by-side with customers, integrating its array of power, connectivity, lighting, structures, interiors, and test technologies to solve complex challenges. For over 50 years, Astronics has delivered creative, customer-focused solutions with exceptional responsiveness. Today, global airframe manufacturers, airlines, militaries, completion centers and Fortune 500 companies rely on the collaborative spirit and innovation of Astronics. The Company’s strategy is to increase its value by developing technologies and capabilities that provide innovative solutions to its targeted markets.

For more information on Astronics and its solutions, visit Astronics.com.

Contact information for media:  

Meredith Bell, Lilium
+41794325779
Meredith.bell@lilium.com

Astronics AES
Jon Neal, President
T: +1 425.339.0281
jon.neal@astronics.com

Contact information for Astronics Investors:  

Deborah K. Pawlowski, Kei Advisors LLC
T: 716-843-3908
dpawlowski@keiadvisors.com

Forward-Looking Statements  

This communication contains certain forward-looking statements within the meaning of the federal securities laws, including, but not limited to, statements regarding Lilium N.V.’s proposed business and business model, the markets and industry in which Lilium N.V. and its subsidiaries (collectively, the “Lilium Group”) operate or intend to operate, Lilium’s collaboration with Astronics on the design, manufacture and supply of the Lilium Jet’s power distribution unit, the anticipated timing of the commercialization and launch of the Lilium Group’s business in phases and the expected results of the Lilium Group’s business and business model, including when launched in phases. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on management’s current expectations with respect to future events and are based on assumptions and subject to risk and uncertainties and subject to change at any time. Actual events or results may differ materially from those contained in the projections or forward-looking statements.  Factors that could cause actual future events to differ materially from the forward-looking statements in this communication include those discussed in Lilium’s filings with the U.S. Securities and Exchange Commission (“SEC”), including its Annual Report on Form 20-F, all of which are available at www.sec.gov. For more information, see the section entitled “Cautionary Note Regarding Forward-Looking Statements” in Lilium’s Annual Report on Form 20-F and in other filings. Forward-looking statements speak only as of the date they are made. You are cautioned not to put undue reliance on forward-looking statements, and the Lilium Group assumes no obligation to, and does not intend to, update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2fc9415c-9872-4838-8d2b-ee1759804fe7


Lilium Engages Astronics for Lilium Jet’s Power Distribution System

Lilium Engages Astronics for Lilium Jet’s Power Distribution System

ę GlobeNewswire 2022
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Financials (USD)
Sales 2022 - - -
Net income 2022 -220 M - -
Net cash 2022 124 M - -
P/E ratio 2022 -1,85x
Yield 2022 -
Capitalization 486 M 486 M -
EV / Sales 2022 -
EV / Sales 2023 -
Nbr of Employees 964
Free-Float 29,2%
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Number of Analysts 6
Last Close Price 1,24 $
Average target price 5,66 $
Spread / Average Target 356%
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Klaus Roewe Chief Executive Officer & Executive Director
Geoffrey Richardson Chief Financial Officer
Thomas Enders Chairman
Daniel Wiegand Executive Director & Chief Engineer-Innovation
Alastair McIntosh Chief Technology Officer
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