Leclanché SA Announces 2025 Semi-Annual Results

Ad hoc announcement pursuant to Art. 53 LR

Leclanché Announces 2025 Semi-Annual Results

YVERDON-LES-BAINS, Switzerland, 30^th September 2025 - Leclanché SA (SIX: LECN), one of the world’s leading energy storage companies, today announced its half-year results for the six months ending 30 June 2025 (the "Period"), reflecting Management’s and Board’s strategic focus to position the Company for future growth.

(in million CHF)              H1 2025     H1 2024

Income                                   7.0             5.6

EBITDA loss                        -26.4         -19.2

Net loss for the Period        -38.8         -27.2

Performance overview:

For the first half of 2025, the Leclanché group (the "Group") recorded a 39% increase in revenue from contracts with customers (CHF 7.4 million) with total income of CHF 7.0 million, compared to CHF 5.6 million in H1-2024.

Despite the positive revenue trend, the Group reported an operating loss of CHF 28.7 million (H1 2024: CHF  23.6 million). Material costs rose by 24%, broadly in line with the increase in revenue. Personnel costs decreased by 7%, reflecting a year-on-year reduction of 39 full-time equivalent employees (FTEs). Depreciation, amortisation and impairment expenses represent the standard depreciation allowance for the Period, whereas the prior-year figure included the reversal of a provision of nearly CHF 6.0 million related to terminated projects.

Finance costs rose slightly to CHF 10.6 million, reflecting the increased debt financing of Leclanché, while Finance income declined sharply compared with the previous year. This contributed to a loss before tax of CHF 38.7 million, up from CHF 27.3 million in H1 2024. Consequently, the Group reported a net loss of CHF 38.8 million (H1 2024: CHF 27.2 million), highlighting the ongoing reliance on external funding to sustain its operations and support its growth strategy.

Balance sheet and financial performance:

The balance sheet grew by CHF 9.8 million over the Period, reflecting movements across both assets and liabilities. On the asset side, the increase was primarily driven by the capitalization of more project development costs, which rose by CHF 3.7 million, alongside a CHF 5.0 million increase in cash balances, providing additional liquidity to support ongoing operations. On the liability side, loans increased by CHF 12.3 million, reflecting the continued SEF-Lux^[1] financing to fund the Group’s activities, while trade and other payables rose by CHF 9.4 million, driven by higher operational volumes and a still constrained liquidity environment. As a result, equity decreased from CHF -43.8 million to CHF -48.2 million during the Period. Although the Group completed a share capital increase in March 2025, this was more than offset by the accumulated loss for the Period, underlining the ongoing financial pressures and the need for careful management of both funding and operational costs

Perspectives for the remainder of 2025:

In the first half of 2025, Leclanché maintained its focus on existing client projects, continuing to support strategically research and development to reinforce its technological leadership and secure its market position with existing clients. Further market development has been put on hold until the long-term financing of the company is secured and in place. With order book growth coming from existing projects and clients.

As in previous Periods, operating losses reflect the low volumes in production resulting from a deliberate choice to minimize the working capital needs and to prioritize innovation and existing business, which are expected to provide sustainable competitive advantages and lead to stronger financial performance over the medium term. While the Company is working on securing the long-term financing, growth and business development have been purposely limited. We have also engaged in projects to diversify the revenues streams, and are looking at several parallel options to monetize on the technology and IP of the Company.

Mr. Pierre Blanc, Group CEO said: "In the first half of 2025, Leclanché delivered a solid 25% increase in revenues, reflecting continued demand for our solutions and the progress we are making with our customers. At the same time, our results underscore the financial pressures we continue to face as we work on implementing funding solutions for our market needs. While our net loss has widened, we have taken important steps to reduce personnel costs and to carefully manage our resources, supported by our financing partners. Strengthening our balance sheet and achieving a more sustainable cost structure remain top priorities as we work to capture the opportunities in front of us."

The full financials can be accessed on https://www.leclanche.com/financial-reports/ (Interim Report).

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About Leclanché

Leclanché is a world leading provider of low-carbon footprint energy storage solutions based on lithium-ion cell technology. Established in 1909 in Yverdon-les-Bains, Switzerland, Leclanché’s history and heritage is rooted in battery and energy storage innovation. The company’s Swiss culture for precision and quality, together with its production facilities in Germany, make Leclanché the partner of choice for companies seeking the very best in battery performance and who are pioneering positive changes in how energy is produced, distributed and consumed around the world. Leclanché is organised into three business units: energy storage solutions, e-Mobility solutions and specialty battery systems. The company currently employs over 350 people with representative offices in eight countries around the world. Leclanché is listed on the Swiss Stock Exchange (SIX: LECN).

SIX Swiss Exchange : ticker symbol LECN | ISIN CH 011 030 311 9

Disclaimer

This press release contains certain forward-looking statements relating to Leclanché's business, which can be identified by terminology such as "strategic", "proposes", "to introduce", "will", "planned", "expected", "commitment", "expects", "set", "preparing", "plans", "estimates", "aims", "would", "potential", "awaiting", "estimated", "proposal", or similar expressions, or by expressed or implied discussions regarding the ramp up of Leclanché's production capacity, potential applications for existing products, or regarding potential future revenues from any such products, or potential future sales or earnings of Leclanché or any of its business units. You should not place undue reliance on these statements. Such forward-looking statements reflect the current views of Leclanché regarding future events, and involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. There can be no guarantee that Leclanché's products will achieve any particular revenue levels. Nor can there be any guarantee that Leclanché, or any of the business units, will achieve any particular financial results.

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^[1] SEF-Lux refers to: Strategic Equity Fund - Renewable Energy and Luxembourg, AM Investment SCA SICAV RAIF - Global Growth, Sub-Fund, Luxembourg, who collectively are in aggregate the main shareholder of Leclanché, hereunder referred to as “SEF-Lux”. Pure Capital S.A. being the beneficial owner as per the reporting platform of SIX Exchange Regulation AG’s Disclosure Office – Date of publication of the most recent notification: 25 September 2025.