Summary by Moomoo AI
Lilium, a next-generation aviation company, reported a net loss of €389.1 million for the year ended December 31, 2023, a 54% increase from the previous year's loss of €253.1 million. The company's financial performance reflects its status as a pre-revenue company focused on the development of its electric vertical take-off and landing (eVTOL) aircraft, the Lilium Jet. Research and development expenses rose slightly to €183.8 million, up 5% from €175.6 million in 2022, driven by increased professional services and depreciation related to the Lilium Jet's development. General and administrative expenses decreased by 13% to €81.3 million, primarily due to reduced professional services costs. The financial result showed a significant shift, with a loss of €115.7 million compared to a gain of €28.3 million in 2022, largely due to...Show More