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    LILM   NL0015000F41


Delayed Nasdaq  -  04:00 2022-12-01 pm EST
1.400 USD   -0.71%
11/23Lilium Announces Q3 '22 Business Update Webcast on December 6
11/23Lilium Announces Q3 '22 Business Update Webcast on December 6
11/23Lilium Announces Successful Closing of $119 Million Capital Raise to Fund Continued Development of New Electric Aircraft
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Lilium N : 2022 Q2 Letter to Shareholders

09/28/2022 | 04:16pm EST

Shareholder Letter Q2 2022

Message from Lilium CEO Klaus Roewe1

Dear Lilium shareholders,

An important phase has begun at Lilium, with the start of our eVTOL Jet's industrialization phase. My joining Lilium as CEO couldn't have come at a better time.

I am an executive with 30 years' experience in aerospace, most recently as Head of the A320 family Program and Head of Services at Airbus. In these roles, I led the development, certification, production ramp-up, and operational deployment of the most successful large commercial aircraft in history.

Along the way, I got to know first-hand the importance of safety, customer-focus and unit economics. I have also experienced the "manufacturing hell" of ramping up the production of large complex aircraft.

So why am I so excited to join Lilium and how will I contribute to the mission?

It all starts with the aircraft itself, its unique architecture, and the electric jet propulsion technology behind it. Quite simply, I'm convinced that the Lilium Jet will be the best aircraft in its class. I also believe this unique eVTOL architecture has been rigorously conceived and validated. Its ducted-jet technology makes it suitable for multiple use cases including premium customers, commercial shuttles, cargo and other applications we have yet to develop. It is both versatile and scalable to larger form-factors, and I strongly believe it will form the basis for a complete product family. It also features multiple ground-breaking new technologies that may spin off into other sectors.

Furthermore, decarbonization is one of the great challenges of our times and the aerospace industry needs to face that head on. I am convinced that the Lilium Jet is one critical step in aviation's shift to a sustainable and exciting future. The experience we are building today in electric propulsion, flight mechanics and aerospace -grade batteries will contribute to transforming the world of aviation.

I am very much looking forward to steering the company through this next decisive phase. I also wish to thank our co-founder and former CEO Daniel Wiegand for being a great partner to me over the last couple of months. I am excited that he's back to what he loves best, leading Lilium's future technology as Chief Engineer for Innovation & Future Programs. While working with Daniel to chart this future, let me assure you that I will remain laser-focused on operational excellence, engineering execution and cost discipline as we move ahead milestone by milestone towards our commercial launch.



1 Formal role of CEO to become effective upon shareholder approval at General Meeting on October 27, 2022.

Business Update | Q2 2022


Key highlights

The Lilium Jet program is now moving into the certification and industrialization phase. Over the past few months, we achieved the following milestones:

  1. High-speedfull transition flight
    Wing-borne flight on main and canard wings at ~100 kt (~190 km/h) achieved on our Phoenix 2 technology demonstrator aircraft which aligns precisely with computer model predictions, supporting certification
  2. Battery aging performance
    Internal cycle tests have indicated that we can achieve the targeted 800+ cycles for launch; additional testing through independent laboratories underway
  3. Aircraft industrialization
    On track to start assembly of Type-conforming aircraft in 2023. Additional partnerships signed with Tier 1 aerospace suppliers Diehl, Expliseat, Astronics, MA Group, L3Harris
  4. Expanded sales portfolio
    Agreements for 483 aircraft moving toward detailed terms and firm contracts with pre-delivery payments in 2023
  5. Significant inbound interest in premium private sales Decision to launch limited edition including receipt of deposits

Business Update | Q2 2022


Full Transition Flight & Flight Physics Validation

Our technology demonstrator, Phoenix 2, has recently achieved another industry first for an electric jet aircraft, performing at ~100 kt full transition from hover to wing-borne flight on both the main and canard wings at our test facility in Atlas, Spain.

Transition represents the technically challenging phase (for eVTOL aircraft) between powered vertical lift and the highly efficient wing-borne lift.

The fact that the canard and the wing transitioned smoothly is an historic technical achievement in itself but perhaps more important is that the transition happened precisely where the flight physics computer models predicted it would.

From the beginning of Lilium, we developed our aircraft using sophisticated computer models to predict the behavior of the aircraft through each critical phase and under various failure scenarios. These models allowed us to develop and evaluate this unique architecture much faster and with greater confidence than traditional techniques would have permitted.

At each juncture, our computer models predicted what the real world aircraft would do - something now vali­ dated again by real world testing. And validated models are a key cornerstone to any certification program.

Phoenix 2 has been successfully performing test flights at the ATLAS center in Spain since Spring 2022, with the first ever main wing transition flight for an electric jet aircraft achieved in June. In July this year, media representatives from CNBC, Die Welt and others were able to witness first-hand Phoenix 2's flights in Spain. The feedback we received was that all were impressed by the stable flights and the very low noise signature of the demonstrator aircraft.

The flight test campaign will be complemented soon by an additional demonstrator aircraft, Phoenix 3, which will allow us to increase the pace of testing and learnings.

→ WATCH - Full transition flight video

Business Update | Q2 2022


Battery performance update

Test results on our prototype battery cells give us confidence that the batteries we plan to use inside our production aircraft at launch will deliver not only the required energy and power densities, but also the required aging performance.

As mentioned in our previous update from Q1 2022, our internal testing indicates that our chosen battery cell technology will meet the performance requirements of our launch aircraft. Current internal testing focused specifically on cell technology aging have indicated an anticipated cycle life of 800+ cycles with 80% capacity reten- tion.

We will be moving forward with validation of these results with independent laboratories in the future. Our business projections for entry into service are based on a battery cell lifetime of 800 cycles.

Moreover, we continue to work with our technology providers to further improve cell performance and aging prior to launch.

→ READ - Lilium's battery strategy for more details on cell performance and range

Business Update | Q2 2022


This is an excerpt of the original content. To continue reading it, access the original document here.


Lilium NV published this content on 28 September 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 September 2022 20:15:02 UTC.

ę Publicnow 2022
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More news
Analyst Recommendations on LILIUM N.V.
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Financials (USD)
Sales 2022 - - -
Net income 2022 -211 M - -
Net cash 2022 107 M - -
P/E ratio 2022 -2,03x
Yield 2022 -
Capitalization 553 M 553 M -
EV / Sales 2022 -
EV / Sales 2023 -
Nbr of Employees 964
Free-Float 29,2%
Duration : Period :
Lilium N.V. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends LILIUM N.V.
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 6
Last Close Price 1,41 $
Average target price 10,06 $
Spread / Average Target 613%
EPS Revisions
Managers and Directors
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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