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Investment in a Joint Venture / Associate

17.Investment in a Joint Venture / Associate

Investment in Ionblox

On March 10, 2021, the Group entered into a Stock Purchase Agreement in which the Group acquired 25.7% of the shares of Ionblox for a purchase price of €8,502 thousand ($10,054 thousand), including transactions costs (see note 4 for additional information on Ionblox, formerly known as Zenlabs). Ionblox is a supplier of battery technology for Lilium. The principal place of business for Ionblox is the United States of America.

On July 15, 2021, the Group entered into an additional Stock Purchase Agreement in which the Group acquired a further 9.1% of the shares of Ionblox across two transactions on July 16, 2021 and September 27, 2021, for a total consideration of €7,400 thousand ($8,716 thousand). The consideration included the conversion of outstanding promissory notes at a fair value of €2,222 thousand ($2,629 thousand), including a €1,051 thousand ($1,250 thousand) promissory note purchased on March 19, 2021.

Lilium holds preferred stock in Ionblox, which give Lilium preferred dividend rights as well as rights of preferential payments in certain events. Preferred dividends are not cumulative, and payment is at the discretion of the Board of Directors of Ionblox out of any funds and assets legally available. In a deemed liquidation event, which is defined in the preferred stock purchase agreement as mergers and consolidations and certain asset sales, Lilium is entitled to redeem cash or other assets from Ionblox which provides Lilium a share in Ionblox net assets. In the event of liquidation, dissolution or winding up or deemed liquidation event, Lilium is entitled to preferential payments if there are sufficient funds in Ionblox to pay the preferred stockholders. The preferred stocks carry the same shareholder voting rights as holders of equivalent common stock. The preferred stocks also entitle the Group to nominate two directors to the Board of Directors of Ionblox. As such, the Group is considered to have significant influence over Ionblox. The significant influence together with other features of the preferred stock result in Lilium participating in a share of gains or losses from Ionblox; as such, the investment was initially recognized as an investment in associate and accounted for at-equity under IAS 28 ‘Investment in associates and joint ventures’.

For each date of acquisition of Ionblox, the fair value of Ionblox’s identifiable net assets and liabilities were identified, and the difference between the purchase price and the fair value of identified net assets has been accounted for as goodwill. The goodwill is included within the carrying value of the Investment in Associate. The total fair value of the identifiable net assets acquired is €8,344 thousand ($9,843 thousand), generating goodwill upon purchase of €7,558 thousand ($8,927 thousand). The fair value of the identifiable net assets acquired includes a carrying value of €2,248 thousand ($2,652 thousand) and a fair value step-up of €8,688 thousand ($10,250 thousand) for Ionblox’s brand and technology portfolio, offset by €2,592 thousand ($3,059 thousand) for deferred taxation.

In 2022, the Group’s share in Ionblox was diluted to 27.7% share of outstanding capital, representing 31.4% of the shareholder voting rights, through the issuance of 1,092,908 series B preferred stock by Ionblox to other investors, offset by a share buyback of 273,227 common stock, resulting in a gain on dilution of €1,179 thousand in other income. As part of the transactions, Lilium signed new Investors’ Agreements in May and November 2022, under which management have concluded that Lilium has joint control of Ionblox with another Preferred Stock investor. Lilium subsequently accounts for Ionblox as a Joint Venture, continuing to apply the equity method of accounting.

As of December 31, 2022, there were no indicators that an impairment expense (2021: Nil) should be recognized on the carrying value of the investment in a joint venture (2021: associate).

Shares in Ionblox are currently unquoted, hence there is no quoted price to determine the fair value of the investment in Ionblox. The following table illustrates the summarized valuation of the Group’s investment in Ionblox:


	Carrying Value
In € thousand	2022	2021
January 1	15,054	—
Initial recognition	—	8,502
Conversion of promissory notes (July 2021)	—	2,222
Capital increases (July and September 2021)	—	5,178
Gain on dilution	1,179	—
Share of loss in a joint venture/ associate	(2,823)	(848)
December 31	13,410	15,054

The following is the summarized financial information for Ionblox, based on their consolidated financial statements prepared in accordance with IFRS, modified for fair value adjustments on acquisition. The numbers presented reflect the amounts in Ionblox’s IFRS consolidated financial statements, not of Lilium’s ownership share in these amounts.

Ionblox, Inc. - Consolidated Statement of Operations for the year ended December 31, 2022


In € thousand	01/01/2022 – 12/31/2022	3/10/2021 – 12/31/2021
Revenue	1,927	806
Loss from continued operations	(7,777)	(3,482)
Net loss for the year/ period	(7,369)	(2,907)

Ionblox, Inc. - Consolidated Statement of Financial Position as of December 31, 2022


In € thousand	12/31/2022	12/31/2021
Non-current assets¹	25,438	24,255
Current assets	13,487	6,724
Preferred stock reclassification²	21,619	20,283
Non-current liabilities	(31,482)	(28,200)
Current liabilities	(933)	(756)
Shareholders’ equity	28,129	22,306


Reconciliation to carrying amounts of Lilium’s Interest in Ionblox
Group’s effective interest in the joint venture / associate	27.7	%	34.8	%
Group’s share in shareholders’ equity	7,780		7,762
Goodwill	8,370		7,558
Currency translation difference	(2,740)		(266)
Investment in a joint venture / associate	13,410		15,054

¹ As the purchase price allocation is performed at each acquisition date (as of March 10, July 16 and September 27, 2021), differences occur due to the different ownership rates used in purchase price allocation and equity accounting. These differences are adjusted in Ionblox’s summary consolidated financial statements.

² Based on the Group’s analysis of significant influence and investors’ current access to returns, Lilium concluded that its investment in Ionblox is accounted for using the equity method under IAS 28 ‘Investment in associates and joint ventures’. However, in Ionblox’s IFRS consolidated financial statements, the preferred stock owned by Lilium is accounted for as a financial liability based on its analysis under IAS 32 ‘Financial Instruments: Presentation’ due to the features of preferred stock as explained above. In order to give effect to uniform accounting policies and consistency in accounting, the above-mentioned financial liability in Ionblox’s consolidated financial statements is treated as equity in purchase price allocation and goodwill calculation.

Other Financial Assets

12 Months Ended

Dec. 31, 2022

Other Financial Assets

Other Financial Assets

18.Other Financial Assets

Other financials assets are as follows:


In € thousand	12/31/2022	12/31/2021
Security deposits	3,386	3,779
Total non-current financial assets	3,386	3,779
Fixed term deposits	19,987	119,664
Money market funds	—	99,919
Security deposits	2,594	42
Total current other financial assets	22,581	219,625
Total other financial assets	25,967	223,404

Security deposits include €50 thousand (December 31, 2021: €400 thousand) pledged as collateral for customs, €182 thousand (December 31, 2021: €253 thousand) pledged as collateral for a furniture lease and €427 thousand (December 31, 2021: €196 thousand) pledged as collateral for use of credit card facilities. Additional deposits in the amount of €2,941 thousand (December 31, 2021: €2,942 thousand) are pledged as collaterals for facility leases, and €2,530 thousand (December 31, 2021: €30 thousand) refer to deposits to suppliers.

The Group has invested in a fixed term deposit amounting to €20,000 thousand with a term of 4 months. The Group recognized an increase of principal amount by €17 thousand due to positive interest rates and the Group recognized an expected credit loss of €30 thousand. The deposits were not redeemable before maturity.

In October 2021, the Group had invested a total €120,000 thousand into fixed term deposits with terms of 6, 9 and 12 months, €40,000 thousand each respectively. The Group recognized a reduction of principal amount by €336 thousand due to negative interest rates of €80 thousand and an expected credit loss of €257 thousand.

The Group did not hold any investment in money market funds as of year end. In November 2021, the Group has invested €100,006 thousand into money market funds. During the year, the Group sold all investments in money market funds for total proceeds of €99,853 thousand (2021: nil). The Group terminated its investment in March 2022.

Non-Financial Assets

12 Months Ended

Dec. 31, 2022

Non-Financial Assets

Non-Financial Assets

19.Non-Financial Assets

Non-financial assets are as follows:


In € thousand	12/31/2022	12/31/2021
Advance payments	4,069	8,113
Prepaid expenses	9,418	—
Total non-current non-financial assets	13,487	8,113
Value added tax claims	1,696	12,602
Prepaid expenses	16,241	9,924
Miscellaneous other current non-financial assets	711	468
Total current non-financial assets	18,648	22,994
Total non-financial assets	32,135	31,107

Advance payments are payments made for the acquisition of fixed assets €4,069 thousand (2021: €8,113 thousand). Non-current prepaid expenses mainly consist of multi-year supplier contracts which have required upfront prepayments due to necessary investments by the suppliers €9,418 thousand (2021: nil). Current prepaid expenses mainly relate to manufacturing costs prepaid €16,241 thousand (2021: €9,924 thousand). Miscellaneous other current non-financial assets relate mainly to receivables from suppliers amounting to €374 thousand (2021: €372 thousand).

Cash and Cash Equivalents

12 Months Ended

Dec. 31, 2022

Cash and Cash Equivalents

Cash and Cash Equivalents

20.Cash and Cash Equivalents

Cash and cash equivalents are as follows:


In € thousand	12/31/2022	12/31/2021
Petty cash	—	2
Short-term fixed deposits	49,385	—
Cash at banks	130,196	129,854
Total cash and cash equivalents	179,581	129,856

Shareholders' Equity

12 Months Ended

Dec. 31, 2022

Shareholders' Equity

Shareholders' Equity

21.Shareholders’ Equity

On September 14, 2021, upon the Reorganization, all outstanding Lilium GmbH shares (Common shares, Seed shares, Series A, Series B1 and Series B2) have been transferred to Class A shares in the relationship 1 : 2,857, except for 8,545 shares which have been transferred into 24,413,065 Class B shares.

Class A shares have a nominal value of €0.12 per share and are freely transferrable (subject to any lock-up as may be contractually agreed from time to time) and each Class A share confers the right to cast twelve (12) votes in Lilium’s shareholders meeting, subject to a so-called voting cap as defined in Article 1 of Lilium’s articles of association and as may be elected by a certain shareholder to apply it.

Class B shares have a nominal value of €0.36 and may only be transferred to (i) permitted transferees or (ii) Lilium. One Class B share will be converted into one Class A share and one Class C ordinary share, nominal value €0.24 per share (a “Class C share”) upon the occurrence of certain conversion events. A conversion event is triggered in respect of Class B shares (i) at the discretion of the Class B holder or (ii) in case the holder of Class B shares is not qualified to hold such Class B shares anymore as defined in Lilium’s articles of association.

Each Class B share confers the right to cast thirty-six (36) votes and each Class C share confers the right to cast twenty-four (24) votes in Lilium’s shareholders meeting. As of year-end 525,000 (2021: nil) Class C shares were issued and held in treasury.

If a Class C share is held by anyone else other than Lilium (regardless of the consequence of conversion), such holder of Class C shares (a transferor) must notify Lilium of this fact by written notice within three days after the occurrence of such event, following the failure of which Lilium is irrevocably empowered and authorized to offer and transfer the relevant Class C shares. The transferor, other than Lilium itself, must transfer such Class C shares to Lilium for no consideration. The result of the conversion of Class B shares is that a Lilium shareholder acquires one Class A share for each converted Class B share. During the year the conversion of 525,000 Class B shares (2021: nil) and the transfer of 525,000 Class C shares (2021: nil) to the Group were conducted.

The holders of Class A shares and Class B shares shall be entitled pari passu to the profits of Lilium, pro rata to the total number of Class A shares and Class B shares held as a percentage of the total number of Class A shares and Class B shares issued and outstanding, provided that out of the profit of any fiscal year, the holders of Class C shares shall be entitled to a maximum amount per fiscal year equal to one-tenth of a percent (0.1 %) of the nominal value of one Class C share.


		Supervoting	Ordinary
	Common shares	shares	shares
(in units)	(Class A)	(Class B)	(Class C)	Total
Issued at January 1, 2020, as adjusted	130,596,327	24,413,065	—	155,009,392
Issued shares – convertible loans	19,156,185	—	—	19,156,185
Issued shares – capital increase	23,261,694	—	—	23,261,694
Issued as of December 31, 2020, as adjusted	173,014,206	24,413,065	—	197,427,271
Treasury shares – share buy-back	(205,704)	—	—	(205,704)
Outstanding as of December 31, 2020, as adjusted	172,808,502	24,413,065	—	197,221,567


	Common shares	Supervoting shares	Ordinary shares
(in units)	(Class A)	(Class B)	(Class C)	Total
Issued at January 1, 2021	173,014,206	24,413,065	—	197,427,271
Issued shares – convertible loans	20,533,259	—	—	20,533,259
Reorganization as of September 14, 2021	22,697,450	—	—	22,697,450
Treasury shares Lilium GmbH not exchanged into Lilium N.V. shares	—	—	—	—
Capital increase 2021 PIPE	45,000,000	—	—	45,000,000
Issued as of December 31, 2021	261,244,915	24,413,065	—	285,657,980
Treasury shares	(375,000)	—	—	(375,000)
Treasury shares (due to consolidation)	(879,691)	—	—	(879,691)
Outstanding as of December 31, 2021	259,990,224	24,413,065	—	284,403,289


	Common shares	Supervoting shares	Ordinary shares
(in units)	(Class A)	(Class B)	(Class C)	Total
Issued at January 1, 2022	261,244,915	24,413,065	—	285,657,980
Issued shares for share-based payment awards exercised	10,857,264	—	—	10,857,264
Warrants exercised	10	—	—	10
Issued shares – ELOC	5,618,697	—	—	5,618,697
Capital increase RDO & 2022 PIPE	91,524,935	—	—	91,524,935
Conversion of Class B Shares	525,000	(525,000)	525,000	525,000
Repurchase of Class B Shares	50,000	—	—	50,000
Issued as of December 31, 2022	369,820,821	23,888,065	525,000	394,233,886
Treasury shares	—	(425,000)	(525,000)	(950,000)
Outstanding as of December 31, 2022	369,820,821	23,463,065	—	393,283,886

As of December 31, 2022, there were 196,385,439 (2021: 152,054,830) shares with a par value each of €0.12 authorized for issue by the management.

In March 2020, the 2019 convertible loans were converted into 19,156,185 shares, increasing subscribed capital by €2,299 thousand, share premium by €65,824 thousand and other capital reserves by €34,084 thousand (retrospectively adjusted). For the convertible loan, the €34,084 thousand exceeded the initial fair value of the convertible loan by this amount. Since the lender of this convertible loan was also a shareholder, this difference has been considered as a capital contribution; it was reclassified into share premium in March 2021 due to the conversion of the convertible loan.

Share premium represents additional consideration for shares above the nominal value of shares in issue less transaction cost that incurred for the share issuance. During 2020, there was a net increase in shareholders’ equity of €96,810 thousand from the issuance of 23,261,694 shares (retrospectively adjusted) as a result of a capital increase, adding €2,791 thousand to subscribed capital and €94,019 thousand to share premium (retrospectively adjusted). Transaction costs of €503 thousand have been deducted from the share premium.

These increases in 2020 were offset by a decrease of €763 thousand as a result of the buyback of 205,704 shares, €738 thousand have reduced share premium and (€25) thousand have been put into the reserve for treasury shares (retrospectively adjusted).

On March 26, 2021 the convertible loan of €85,900 thousand and the accrued interest were converted into shares. In order to facilitate the transaction, the Group issued 20,533,259 shares, subscribed capital increased by €2,464 thousand, share premium by €127,813 thousand (retrospectively adjusted) and other capital reserves decreased by €34,084 thousand due to the conversion as described above.

On March 30, 2021, Lilium entered into the Business Combination Agreement leading to the Reorganization, as described in note 1. Concurrently, Lilium entered into Subscription Agreements with certain investors for PIPE Financing (“2021 PIPE”). As a result of the Reorganization and the 2021 PIPE, the Group has increased shareholders’ equity by €164,868 thousand and €381,208 thousand, respectively. Subscribed capital increased by €2,724 thousand, share premium by €51,116 thousand (net of €2,227 thousand transaction costs) and other capital reserves by the IFRS 2 share listing expense of €111,109 thousand. The amounts related to the Reorganization also reflect the impact of (i) the conversion of the convertible loan (CLA4) into 274,272 Lilium N.V. shares, which increased subscribed capital by €33 thousand and share premium by €2,023 thousand, and (ii) the additional 293,230 Lilium N.V. shares related to the success fee, which increased subscribed capital by €35 thousand and share premium by €1 thousand. Additionally, the reserve for treasury shares decreased by €81 thousand. From the 2021 PIPE capital increase, subscribed capital increased by €5,400 thousand and share premium by €375,808 thousand. For the Reorganization, Lilium’s total transaction costs amount to €29,029 thousand.

During the year ended December 31, 2022, a total of 10,857,264 (2021: Nil) shares have been issued due to the exercise of vested share-based payment awards; €1,303 thousand (2021: nil) have been added to subscribed capital, thereof €1,227 thousand (2021: nil) is transferred from other capital reserves, and €207 thousand (2021: nil) to share premium. A further €845 thousand (2021: nil) is deducted from other capital reserves in relation to net settlement of employee income taxation obligations.

During the year ended December 31, 2022, €27,380 thousand (2021: €53,350 thousand) was recognized in other capital reserves in relation to equity-settled share-based payment arrangements, as described in note 22.

Share Purchase Agreement (“ELOC”)

On June 3, 2022, the Group had entered into a Share Purchase Agreement and a Registration Rights Agreement with Tumim Stone Capital LLC (“Tumim Stone”), pursuant to which (a) the Group agreed to issue 262,697 (the “Commitment Shares”) of the Group’s Class A shares to Tumim Stone and (b) Tumim Stone had committed to purchase, subject to certain limitations, up to $75 million of Class A shares. While the Group had the right, but not the obligation, to sell the Class A shares to Tumim Stone, the latter was obligated to purchase the Class A shares up to the total committed amount as and when the Group required funding via a purchase notice to Tumin Stone. Under this Agreement, the Group issues Class A shares at a discount to the volume-weighted average price on the date of the purchase notice.

The Group determined that the right to issue Class A shares represents a freestanding purchased put option, and the purchased put option was classified as a derivative asset with a fair value at the inception of €696 thousand equal to the market value of the Commitment Shares paid as consideration. The issuance of the Commitment Shares resulted in a €31 thousand increase in subscribed capital and a €665 thousand increase in share premium.

As all shares were issued at a discount to the market value, the put option was immediately considered to have a fair value of nil and a €696 thousand fair value loss was recognized in financial expenses.

Between July 5, 2022 and October 31, 2022, Lilium N.V. issued 5,356,000 Class A shares under this Share Purchase Agreement for cash proceeds of €12,498 thousand. Lilium N.V. recorded the issued Class A shares at fair value net of equity issuance cost (represented by the discount) by increasing subscribed capital by €643 thousand and share premium by €11,855 thousand.

The agreement was terminated on November 17, 2022.

Registered Direct Offering (“RDO”)

On November 18, 2022, the Group entered into securities purchase agreements (“RDO Securities Purchase Agreement”) with certain investors in a registered direct offering for the purchase and sale of 22,499,997 Class A shares and warrants to purchase up to 11,249,997 Class A shares for aggregate gross cash proceeds of €28,217 thousand (the “Registered Direct Offering”).

€8,541 thousand are recognized as a liability to issue the warrants. Details of the warrants (“RDO Warrants”) are disclosed in note 23.

The closing of the RDO occurred on November 22, 2022.

2022 Private Placement (“2022 PIPE”)

In November 2022, the Group entered into securities purchase agreements (“2022 PIPE Securities Purchase Agreement”) with certain investors for the purchase and sale of 69,024,938 Class A shares and warrants to purchase up to 34,512,464 Class A shares at $1.30 per share for aggregate cash proceeds of €85,754 thousand and a non-cash contribution of €975 thousand. Each Class A Share sold in the 2022 PIPE will also be accompanied by a 2022 PIPE Warrant to purchase 0.5 Class A Share. Under the 2022 PIPE agreement, the 2022 PIPE transaction will conclude concurrently with the RDO transaction and the purchase price of the 2022 PIPE transaction was determined in connection with the pricing of the RDO transaction. The terms and pricing of the 2022 PIPE transaction is similar with the RDO transaction.

The contribution from two investors, who are also suppliers of the Group, was accounted for as an IFRS 2 share-based payment in exchange for non-recurring cost (“NRC”) supplies. The share-based payments resulted in €11,916 thousand recognized in other capital reserves.

The closing of the 2022 PIPE occurred on November 22, 2022 and a portion of the Class A shares and warrants closed on November 29, 2022. €26,009 thousand are recognized as a liability to issue the warrants. Details of the 2022 PIPE Warrants are disclosed in note 23.

Class B share transactions

In July 2022, the Company agreed that up to 375,000 Class B shares could be returned by a member of Key Management Personnel of the Group for no consideration against the transfer of 375,000 Class A shares held in Lilium’s treasury. In August 2022, 375,000 Class B shares were returned, and accordingly, 375,000 Class A shares were transferred from Lilium’s treasury to the shareholder who is a member of Key Management Personnel of the Group.

Treasury Shares

The reserve for treasury shares represents the nominal amount of own shares held in treasury. Payments for treasury shares above or below nominal value are deducted from or added to share premium, respectively. The movement of treasury shares during years are as follows:


	Common shares	Supervoting shares	Ordinary shares
(in units)	(Class A)	(Class B)	(Class C)	Total
At January 1, 2021	205,704	—	—	205,704
Treasury shares of Lilium GmbH not exchanged into Lilium N.V. shares	(205,704)	—	—	(205,704)
Treasury shares acquired upon Reorganization	375,000	—	—	375,000
Treasury shares from consolidation of Stichting JSOP	879,691	—	—	879,691
At December 31, 2021	1,254,691	—	—	1,254,691
Repurchase of Class B shares for Class A shares held in treasury	(375,000)	375,000	—	—
Repurchase of Class B shares for newly issued Class A shares	—	50,000	—	50,000
Conversion of Class B shares	—	—	525,000	525,000
Treasury shares sold by Stichting JSOP	(879,691)	—	—	(879,691)
At December 31, 2022	—	425,000	525,000	950,000

During 2022, the Group repurchased 375,000 class B shares for no consideration against the transfer of 375,000 class A shares held in treasury, increasing the treasury share reserve by €90 thousand due to the difference in nominal capital between class B and class A shares. Additionally, the Group repurchased 50,000 Class B shares for no consideration and issued and transferred 50,000 Class A shares, increasing treasury reserve by € 18 thousand. As there was no consideration paid by the Group the share premium increased by €108 thousand and the subscribed capital increased by €6 thousand.

During 2022, a shareholder converted 525,000 class B shares into 525,000 class A shares and 525,000 class C shares and transferred the class C shares back to the Group for no consideration in line with the articles of association, increasing treasury share reserve by €126 thousand. As no consideration was paid for these class C shares by the Group, the nominal amount of €126 thousand has been recorded in share premium.

In December 2022, the Group sold 879,691 shares held in treasury resulting in total consideration of €983 thousand of which €877 thousand was recognized in share premium. The sale was triggered due to the settlement of JSOP with a related party. Further details are in note 30.

Share-based Payments

12 Months Ended

Dec. 31, 2022

Warrants and Other Financial Liabilities

Share-based Payments

22.Share-based Payments

Overview

Lilium offers several share-based plans as summarized in the table below. All plans are equity-settled, except for new success fees and JSOP (including bonus) which are treated as cash-settled. Refer to note 3 for the general accounting principles of share-based payment awards.

The ESOP plan started in 2017, initial success fees started in 2020, while all other plans such as RSU, performance-based stock option, time-based stock option, new success fees, presence bonus and JSOP came into place in 2021. During 2022, each of the previously mentioned plans were still in place, with the exception of the JSOP and presence bonus, which were closed during 2022 with no plans to replace these specific programs. The remaining liability for the JSOP is due to be paid out in early 2023, the presence bonus was settled during 2022.


In € thousand	2022	2021
General population and executives – standard ESOP	7,942	29,286
General population - RSU	4,977	77
Executives – ESOP special vesting	1,101	2,135
Executives – RSU	3,259	1,178
Executives – Performance-based stock options	(375)	2,296
Executives – Time-based stock options	2,200	3,505
Executives – Success fees (cash-settled)	(134)	2,590
Executives – Success fee (equity-settled)	—	1,844
Joint stock ownership Plan (JSOP) incl. bonus	(4,435)	5,438
Share-based payment – Vendors	9,726	—
Total expense	24,261	48,349

General population and Executives – standard Employee Stock Option Program (“ESOP”)

The expense recognized for participant services received during the year is shown in the following table:


In € thousand	2022	2021
Expense arising from equity-settled share-based payment awards	7,942	29,286

The total fair value of options granted during the year was €17,483 (2021: €23,061).

On October 8, 2021, Lilium has offered ESOP participants to settle their vested options exclusively in shares of Lilium N.V. instead of Lilium GmbH. As all participants have accepted, they now can exercise vested options at a conversion rate of 1 ESOP in Lilium GmbH into 2,857 options in Lilium N.V. in accordance with the relevant exercise windows. No accounting effects resulted from this conversion. The exercise price is €1 for 2,857 shares in Lilium N.V.

Movements during the year

The following table illustrates the number and weighted average exercise prices (“WAEP”) of, and movements in, Lilium N.V. share options during the years:

Equity-settled options:


	2022			2021
	Number of	2022		Number of	2021
(in units)	options	WAEP		options	WAEP
Outstanding at January 1	19,573,307	€	0.00	13,962,159	€	0.00
Granted during the year	5,714	€	0.00	4,019,799	€	0.00
Forfeited during the year	(1,188,512)	€	0.00	(757,105)	€	0.00
Exercised during the year	(10,318,085)	€	0.00	—		—
Transferred (to)/ from cash-settled	(22,856)	€	0.00	2,348,454	€	0.00
Outstanding at December 31	8,049,568	€	0.00	19,573,307	€	0.00

Cash-settled options:


	2022			2021
	Number of	2022		Number of	2021
(in units)	options	WAEP		options	WAEP
Outstanding at January 1	—		—	2,348,454		—
Exercised during the year	(17,142)	€	0.00	—		—
Transferred from/ (to) equity-settled	22,856	€	0.00	(2,348,454)	€	0.00
Outstanding at December 31	5,714	€	0.00	—		—

The exact WAEP for all options is €1 divided by 2,857, which is 0.00035 and rounded to nil. The Group waived the employee’s liability for the share capital.

The weighted-average remaining contractual life is 10.37 years for equity-settled options and 10.13 years for cash-settled options.

Total options that vested during the year were 979,661 options (2021: 3,300,960 options). The weighted average share price for options exercised during 2022 was €2.52 (2021: not applicable).

In 2021, none of the options granted under the ESOP were exercisable and/or eligible to be settled because of the waiting period of 180 calendar days after the Reorganization on September 14, 2021. As of December 31, 2022, 7,043,620 options are vested and are exercisable at the request of the employee with a WAEP of €0.00.

Measurement of fair values

For grant dates on and after September 15, 2021, the fair value of the ESOP has been set equal to the actual share price using a simplified approach.

For grant dates prior to September 15, 2021, the inputs to the option pricing model includes the probability of indirect IPO and other scenarios, discount for the lack of marketability and the expected volatility. The expected volatility was based on an evaluation of the historical volatilities of comparable listed peer group companies. It reflects the assumption that the historical volatility is indicative of future trends, which may not necessarily be the actual outcome. Other common inputs to option pricing models such as discount rate, dividends expected and expected term are not significant due to the low exercise price.

The fair value of the options was derived from the estimated equity value of Lilium on that date because the beneficiary is entitled to shares of Lilium for a nominal amount in the case of an exit event. The value of the common shares was derived by applying a market approach on the basis of external financing rounds and an expected financing round valuation. With regards to the financing rounds, the liquidation preferences of the Seed shares, Series A, B1 and B2 shares were taken into account. A hybrid model between option pricing method and probability-weighted expected return method was used for the valuation.

Retrospectively adjusted, the fair value has developed as follows:


		Price of one share in
in €	Valuation methodology	Lilium N.V.
December 31, 2020	Hybrid model	6.05
March 31, 2021	Hybrid model	7.13
June 30, 2021	Hybrid model	7.05
July 31, 2021	Hybrid model	7.36
August 31, 2021	Hybrid model	7.71
September 15, 2021	Actual share price	7.89
December 31, 2021	Actual share price	6.12
March 31, 2022	Actual share price	3.59

General population – Restricted Stock Units to new hires

The expense recognized for participant services received during the years is shown in the following table:


In € thousand	2022	2021
Expense arising from equity settled RSU	4,977	77

Movements during the year

The following table illustrates the number and weighted average exercise prices (“WAEP”) of, and movements in, RSU during the years ended December 31, 2022 and 2021:


	2022			2021
	Number of	2022		Number of	2021
(in units)	RSU	WAEP		RSU	WAEP
Outstanding at January 1	162,800	€	0.12	—		—
Assigned during the year	4,886,077	€	0.12	162,800	€	0.12
Exercised during the year	(638,470)	€	0.12	—		—
Forfeited during the year	(135,309)	€	0.12	—		—
Outstanding at December 31	4,275,098	€	0.12	162,800	€	0.12

4,886 thousand RSU (2021: nil) were granted during the year of which 162 thousand were recognized in 2021 due to explicit intention to grant the RSU to new hires. As RSU are exercised on vesting, none of the RSU were exercisable as of December 31, 2022 and 2021. The weighted average remaining contractual life of RSU outstanding at the end of 2022 is 0.58 years (2021: 1.7 years).

Measurement of fair values

The RSU are equity settled and have an exercise price of nominal €0.12 per share. The exercise price is significantly lower than the share price at grant date. Accordingly, the intrinsic value of the RSU has been used, i.e. the share price at grant date less the exercise price. The weighted average fair value of RSU granted during the year is €1.92 (2021: €5.97).

Executives – Employee Stock Option Program (“ESOP”) special vesting

Some executives have received ESOP comparable with the general ESOP program, but with individual conditions in respect to the vesting scheme and with different exercise prices.

The expense recognized for participant services received during the year is shown in the following table:


In € thousand	2022	2021
Expense arising from equity-settled share-based payment awards	1,101	2,135

The following table illustrates the number and weighted average exercise prices (“WAEP”) of, and movements in, Lilium N.V. equity-based share options during the years:


	2022		2021
	Number of	2022	Number of	2021
(in units)	options	WAEP	options	WAEP
Outstanding at January 1	1,888,477	7.90	—	—
Granted during the year	—	—	1,888,477	7.90
Forfeited during the year	(1,160,457)	8.50	—	—
Outstanding at December 31	728,020	6.94	1,888,477	7.90

Total options in Lilium N.V. shares vested during the year were 430,431 options (2021: 101,018 options). As of December 31, 2022, 531,449 (2021: none) of the options granted under the ESOP plan have vested and are available to be exercised, with a WAEP of €0.00. The weighted average remaining contractual life of the ESOP option outstanding at the end of 2022 is 11.4 years (2021: 12.4 years).

Measurement of fair values

For grant dates on and after September 15, 2021, the fair value of the ESOP has been derived from the actual share price, using an option price model (Black-Scholes). There were no Executive ESOPs granted during the year (2021: €11,229 thousand).

Executives – Restricted Stock Units (“RSU”)

The expense recognized for participant services received during the year is shown in the following table:


In € thousand	2022	2021
Expense arising from equity–settled RSU	3,259	1,178

Movements during the year

The following table illustrates the number and weighted average exercise prices (“WAEP”) of, and movements in, RSU during the years ended December 31, 2022 and 2021:


	2022			2021
	Number of	2022		Number of	2021
(in units)	RSU	WAEP		RSU	WAEP
Outstanding at January 1	1,050,913	€	0.12	—		—
Granted during the year	1,699,411	€	0.12	1,050,913	€	0.12
Forfeited during the year	(134,400)	€	0.12	—		—
Exercised during the year	(291,199)	€	0.12	—		—
Outstanding at December 31	2,324,725	€	0.12	1,050,913	€	0.12

In the table above, assigned rights include granted rights as well as rights explicitly expected to be granted in the future. The weighted average remaining contractual life of RSU outstanding at the end of 2022 is 1.5 years (2021: 2.7 years).

Measurement of fair values

Similar to the RSU for the general population, the exercise price is significantly below the share price at grant. While a Black-Scholes model was used to determine the RSU fair market value, the outcome of the valuation basically reflects the intrinsic value of the RSU. Accordingly, the input assumptions other than the share price are not material.

For fair value calculations the share price was taken as the closing price at grant date of Lilium N.V. share. The weighted average fair value of options granted during the period was €1.67 (2021: €7.09).

Executives – Performance-based stock options

The (income) / expense recognized for participant services received during the years is shown in the following table:


In € thousand	2022	2021
(Income) / expense arising from performance-based stock option	(375)	2,296

Movements during the year

The following table illustrates the number and weighted average exercise prices (“WAEP”) of, and movements in, share options during the years ended December 31, 2022 and 2021:


	2022			2021
	Number of	2022		Number of	2021
(in units)	options	WAEP		options	WAEP
Outstanding at January 1	7,036,501	€	8.15	—		—
Granted during the year	1,272,059	€	9.45	7,036,501	€	8.15
Forfeited during the year	(4,711,839)	€	8.66	—		—
Outstanding at December 31	3,596,721	€	7.94	7,036,501	€	8.15

No options (2021: Nil options) are exercisable as of December 31, 2022. The weighted average remaining contractual life of performance-based stock options outstanding at the end of 2022 is 9.5 years (2021: 9.9 years).

For a member of key management, all 4,341 thousand originally granted performance stock options were forfeited as of June 1, 2022, and the expense already recognized from prior years (€1,553 thousand) has been released in general and administrative expense. The forfeiture was the result of a change in responsibilities which result in a different remuneration. In total, 1,006 thousand options were newly granted to a member of key management, and an expense of €121 thousand has been recognized for the period January 1 – December 31, 2022. The reason for the grant of the new options was partially as ex-gratia benefit for his services rendered in his former role as well as an incentive for his new role. The number of options therefore take into account the 681 thousand options under the former arrangement, for which the service condition was already fulfilled. The remaining 325 thousand options must fulfill the service vesting condition until 2025 and all options remain subject to the previously agreed performance vesting condition and the exercise price is unchanged.

Measurement of fair values

The following table lists the inputs to the Black-Scholes model used for the fair market value calculation for performance-based stock options for the year ended December 31, 2022:


	2022	2021
Risk free rate range	(0.69%) – 2.01%	(0.69 %) – (0.66 %)
Expected dividend yield	—	—
Expected exercise term	3.3 – 3.4 years	4 years
Expected volatility	108.86% - 121.91%	121.8	%

The expected volatility was based on an evaluation of the historical volatilities of comparable listed peer group companies. It reflects the assumption that the historical volatility is indicative of future trends, which may not necessarily be the actual outcome. For fair value calculation the share price was taken as the closing price at grant date of Lilium N.V. The weighted average fair value of options granted during the year was €1.14 (2021: €5.68). The exercise prices are €9.45 (2021: the exercise prices are €7.11 or €8.80).

The ex-gratia grants are included in the new options above, based on market conditions at June 1, 2022.

Executives – Time-based stock options

The expense recognized for participant services received during the years is shown in the following table:


In € thousand	2022	2021
Expense arising from time-based stock options	2,200	3,505

Movements during the year

The following table illustrates the number and weighted average exercise prices (“WAEP”) of, and movements in, share options during the years ended December 31, 2022 and 2021:


	2022			2021
	Number of	2022		Number of	2021
(in units)	options	WAEP		options	WAEP
Outstanding at January 1	2,951,000	€	7.25	—		—
Granted during the year	2,199,488	€	2.76	2,951,000	€	7.25
Forfeited during the year	(2,043,000)	€	7.25	—		—
Outstanding at December 31	3,107,488	€	4.07	2,951,000	€	7.25

908 thousand stock options (2021: Nil options) are exercisable as of December 31, 2022. The weighted average remaining contractual life of time-based stock options outstanding at the end of 2022 is 9.5 years (2021: 9.9 years).

Measurement of fair values

The following table lists the inputs to the Black-Scholes model used for the fair market value calculation for time-based stock options as of the grant date:


	2022	2021
Risk free rate range	(0.69 %) – 2.05 %	(0.69 %)
Expected dividend yield	0	0
Expected exercise term	1.1 – 1.8 years	4 years
Expected volatility	118.97 % – 124.10 %	121.9 %

The expected volatility was based on an evaluation of the historical volatilities of comparable listed peer group companies. It reflects the assumption that the historical volatility is indicative of future trends, which may not necessarily be the actual outcome. Other common inputs to option pricing models such as discount rate, dividends expected and expected term. For fair value calculation the share price was taken as the closing price at grant date of Lilium N.V. share. The weighted average fair value of options granted during the year was €1.21 (2021: €5.31). The exercise price of the option is €2.76 (2021: €7.25).

Executives – Success fees

The expense recognized for participant services received during the years is shown in the following table:


In € thousand	2022	2021
(Income)/expense for success fees cash-settled	(134)	2,590
Expense for success fee equity-settled	—	1,844
Total (income)/expense	(134)	4,434

These expenses do not include the success fee that was converted to the JSOP and bonus arrangement; those expenses are disclosed in the corresponding section below. As of December 31, 2022, no (2021: €2,590 thousand) provisions were recorded in the consolidated statement of financial position. The 2021 provision was partly reversed and partly consumed in 2022, and the success fees were subsequently settled as cash during the year, resulting in a payment of €2,457 thousand.

In 2021, the equity-settled success fee was determined as a 0.5 % percentage of the proceeds from the Reorganization, which was subsequently converted into 293,230 Lilium N.V. shares at a share price of $10.00 (€8.47) as of September 14, 2021.

Measurement of success fees

The success fees were measured as discounted expected cash flows for the success fee arrangements.

All amounts under the former success fees contract were settled and the contracts were terminated on November 30, 2022.

A new contract was entered with a related party and was accounted for under IAS 37 as contingent liability as disclosed in note 29. No conditions for payment have been met as of December 31, 2022.

Executives - Joint Stock Ownership Plan (JSOP) and bonus

(Income)/ expense related to and the liability from the JSOP and the bonus are shown in the following table, the award is fully vested:


In € thousand	2022	2021
(Income)/ expense for JSOP	(3,762)	3,762
(Income)/ expense for bonus	(673)	1,676
Total (income)/ expense	(4,435)	5,438

Measurement of the JSOP and the bonus

In December 2022, the recipient exercised the option to settle the JSOP. The remaining liability amounting to €1,003 thousand (2021: €3,762 thousand and €1,676 for the JSOP and bonus respectively) at year end for the JSOP relates to the bonus due to be paid in early 2023. As of December 31, 2022, the liability is measured at the value of the cash received from the sale of the shares held by Stitching JSOP (see note 30).

The remaining contractual life is nil years (2021: 4.7 years).

Share-based payment – Vendors

In November 2022, the Group entered into a Share Issuance Agreement with a third-party vendor, with the option at the Group’s discretion to pay for the IT services to be rendered by the vendor either via the issuance of 3,101,523 units of Class A shares of Lilium N.V. or cash of US$4,500 thousand. The Group has opted to settle the invoiced amount via issuance of shares and have recognized an expense amounting to €4,558 thousand.

As of year end, €3,757 thousand (2021: nil) is recognized in the other capital reserves for services rendered by the vendor but yet to be settled by the Group for which the Group has the option to settle via equity or cash.

In November 2022, the Group entered into share-based payment arrangements with two third-party vendors as part of the 2022 PIPE transaction in exchange for prepayment of the goods and services to the vendors amounting to €19,502 thousand (2021: nil). The prepayment value was deemed to be the fair value of the securities issued. As of December 31, 2022, services rendered by one vendor resulted in the release of €1,114 thousand (2021: nil) from the prepayment and recorded as a share-based payment expense.

Advisors – Strategic collaboration agreement (Azul Warrants)

The Azul Warrants (refer to note 30) entitle Azul to purchase 1,800,000 Class A shares at an exercise price of €0.12 per share. The Azul Warrants will expire on October 22, 2026 (“Expiration Date”), five years after their issuance. The warrants and any Class A shares issuable upon exercise of the warrants may not be transferred until the twelve-month anniversary of issuance (the “Lockup”).

Lilium has the option to settle the awards in shares or cash. The Azul Warrants are accounted for as equity-settled awards, as Lilium had no present obligation to settle the awards in cash. They are considered fully vested once both parties signed the term sheet, which occurred on July 31, 2021. After that date, no services were required to be provided by Azul for the warrants to vest thereafter. Due to the unique nature of the services provided by Azul, Lilium considered direct measurement of the services provided unreliable and referred to the fair value of the Azul Warrants to indirectly measure the compensation arrangement. The 1,800,000 warrants have been expensed as of July 31, 2021 based on a hybrid valuations model, using different scenarios and a deduction of 5 % for the lack of marketability at this point of time. For the valuation of the share price, multiple connected Black-Scholes models have been used and for the IPO scenario a simplified valuation based on past financing rounds. The General & Administration expense (professional fees) amount of €13,030 thousand was posted directly into capital reserves (see note 7).

The Azul Warrants have not been exercised by Azul as of December 31, 2022.

Warrants and Other Financial Liabilities

12 Months Ended

Dec. 31, 2022

Warrants and Other Financial Liabilities

23.Warrants and Other Financial Liabilities

Warrants and other financial liabilities are as follows:


in € thousand	12/31/2022	12/31/2021
Other non-current financial liabilities	21	—
Other current financial liabilities	4	—
Reorganization Warrants	1,811	21,405
RDO & 2022 PIPE Warrants	24,456	—
Warrants	26,267	21,405

Warrants

Reorganization Warrants

Upon the Reorganization, 12,649,946 Public Warrants and 7,060,000 Private Warrants (collectively the “Reorganization Warrants”) were assigned from Qell to Lilium. The terms of the Reorganization Warrants remain unchanged following the assignment. During the year 10 (2021: nil) Public Warrants were exercised. As of December 31, 2022, 12,649,936 Public Warrants (2021: 12,649,946) and 7,060,000 Private Warrants (2021: 7,060,000) were outstanding.

The Reorganization Warrants give the holder the right, but not the obligation, to subscribe to Lilium’s shares at a fixed or determinable price for a specified period of time subject to the provision of the warrant agreement. The Reorganization Warrants became exercisable 30 days after the consummation of the Reorganization. The Reorganization Warrants will expire five years after the completion of the Reorganization or earlier upon redemption, liquidation or expiration in accordance with their terms.

Public Warrants are listed and publicly traded on the Nasdaq stock exchange. Private Warrants share the same characteristics as Public Warrants and the same price has been used to calculate the fair value as described in note 28.

RDO Warrants & 2022 PIPE Warrants

As part of the RDO & 2022 PIPE transaction as described in note 21, the Company also entered into a warrant agreement dated November 18, 2022 (the “RDO & 2022 PIPE Warrants”) with each of the RDO & 2022 PIPE investors. The RDO & 2022 PIPE Warrants entitles each whole RDO & 2022 PIPE Warrant holder to purchase 0.5 Class A Share of the Company for $1.30 per share with a minimum of the USD equivalent of the nominal value of €0.12 per share.

The RDO Warrants are identical to the 2022 PIPE Warrants as these share the same terms except that the RDO Warrants and the underlying shares are registered securities and the 2022 PIPE Warrants and the underlying shares are unregistered and would need an effective registration statement for resale. Subsequent to the issuance of the 2022 PIPE Warrants, the Group registered the securities underlying the 2022 PIPE Warrants on December 13, 2022. The RDO & 2022 PIPE Warrants are unlisted warrants.

The RDO & 2022 PIPE Warrants are exercisable for a four-year period at an exercise price of $1.30 per share and contain customary anti-dilution adjustments, including adjustments in connection with the issuance of Class A shares at a price below $1.30, subject to exceptions. Beginning on November 22, 2024, the Group can redeem the warrants for $0.01 per share if the market price of the Class A shares is equal or exceeds $2.60 per share as reported by Nasdaq, for at least twenty (20) trading days (whether or not consecutive) during a thirty (30) consecutive trading day period by giving at least twenty (20) trading days’ prior written notice to the registered holders of the warrants.

As of December 31, 2022, 11,249,997 (2021: nil) RDO Warrants and 34,512,464 (2021: nil) 2022 PIPE Warrants were outstanding.

Provisions

12 Months Ended

Dec. 31, 2022

Provisions

Provisions

24.Provisions

The movement in provisions during the year is as follows:


			Unwinding of
			discount and
		Additions/	changes in
In € thousand	01/01/2022	Reversals	discount rate	12/31/2022
Asset retirement obligations	233	66	3	302
Post-employment benefits (note 25)	84	(9)	—	75
Record retention obligations	56	22	(10)	68
Total non-current provisions	373	79	(7)	445
Year-end audit	1,067	(1,067)	—	—
Legal Claims	—	420	—	420
Severance payments	619	(505)	—	114
Other	736	(540)	—	196
Total current provisions	2,422	(1,692)	—	730


			Unwinding
			of discount
			and changes
		Additions/	in discount
In € thousand	01/01/2021	Reversals	rate	12/31/2021
Asset retirement obligations	175	54	4	233
Post-employment benefits (note 25)	193	(109)	—	84
Record retention obligations	43	13	—	56
Total non-current provisions	411	(42)	4	373
Year-end audit	—	1,067	—	1,067
Severance payments	80	539	—	619
Other	—	736	—	736
Total current provisions	80	2,342	—	2,422

Asset retirement obligations originate from the Group’s lease rental contracts (removal of tenant fixtures – refer to note 16) and they are expected to be settled in May 2027 at the lease contract end. Accrued severance payments from prior year have been paid. Other provisions closing balance relates to social security provisions with reversals during the year primarily relating to board remuneration, payroll, social security, and HR provisions.

Legal claims relate to the expected legal fees in relation to US litigation proceedings. On April 18, 2022, a putative class action was filed against Lilium N.V., Daniel Wiegand, Geoffrey Richardson, and Barry Engle for purported violations of United States securities laws. This lawsuit was filed in the U.S. District Court for the Central District of California. On February 10, 2023, the U.S. District Court for the Central District of California transferred the action to the U.S. District Court for the Southern District of Florida. The lawsuit is presently captioned as: Maniraj Ashirwad Gnanaraj v. Lilium N.V. et al., 2:22-CV-80232-Rosenberg/Reinhart. On February 15, 2023, the court entered an order appointing Jonathan Coon as Lead Plaintiff. On March 10, 2023, Lead Plaintiff filed an amended complaint that adds additional defendants and asserts additional claims for purported violations of the United States securities laws. The Group’s management believes the claims are without merit and intend to vigorously defend this litigation. The lawsuit is currently at a preliminary stage and the Group cannot predict its outcome, so the Group therefore cannot determine the likelihood of loss or estimate a range of possible loss.

Post-Employment Benefits

12 Months Ended

Dec. 31, 2022

Post-Employment Benefits

Post-Employment Benefits

25.Post-Employment Benefits

Defined contribution plans

The Group participates in defined contribution plans in the UK and Germany that are funded through payments by employees and by the Group to funds administered by third parties.

The Group’s expenses for these plans were €635 thousand (2021: €465 thousand). No assets or liabilities are recognized in the Group’s balance sheet in respect of such plans, apart from regular prepayments and accruals of the contributions withheld from employees’ wages and salaries and of the Group’s contributions. Contributions totaling €1 thousand (2021: €28 thousand) were payable to the fund at the reporting date and are included in creditors.

Defined benefit plans

Corporate post-retirement benefits are provided by the Group to employees in Switzerland in accordance with local law through defined benefit plans. Current pension arrangements for employees in Switzerland are made through plans governed by the Swiss Federal Occupational Old Age, Survivors and Disability Pension Act (‘BVG’). The Group’s pension plans are administered by separate legal foundations, which are funded by regular employee and company contributions. The final benefit is contribution based with certain guarantees regarding the benefits provided. Due to these guarantees, such Swiss pension plans are treated as defined benefit plans. In case the pension foundation becomes underfunded, the employer together with the employees can be obliged to refinance a plan until the funding level has reached 100% again. Such measures might include increasing employee and company contributions, lowering the interest rate on retirement account balances, reducing prospective benefits and a suspension of the early withdrawal facility. The Group in Switzerland is currently affiliated to a fully reinsured collective pension foundation which cannot become underfunded as all risks are reinsured with a life insurance company. However, the Group is exposed to certain refinancing risk in the future as the current affiliation contract can be cancelled or amended by both contractual parties.

The present value of the defined benefit obligations and the fair value of the plan assets is as follows:


In € thousand	12/31/2022	12/31/2021
Present value of funded obligations	487	155
Fair value of plan assets	(411)	(71)
Net defined benefit liability	76	84

Reconciliation of the net defined benefit liability:


In € thousand	2022	2021
Net defined liability at January 1	84	193
Defined benefit cost recognized in consolidated statement of operations	101	117
Defined benefit cost recognized in other comprehensive income	(28)	(162)
Employer contributions	(85)	(74)
Currency effects	4	10
Net defined liability at December 31	76	84

Reconciliation of the amount recognized in the consolidated statement of financial position:


In € thousand	2022	2021
Employee benefit obligations as of January 1	155	433
Actuarial adjustments	(14)	(233)
thereof: experience adjustments	94	(202)
thereof: demographic adjustments	—	(25)
thereof: adjustments for financial assumptions	(108)	(6)
Current service cost	95	112
Past service credit	—	(1)
Interest expense	1	1
Currency effects	14	19
Employee contributions	85	74
Benefits recovered / (paid)	151	(250)
Employee benefit obligations as of December 31	487	155

Reconciliation of the plan assets:


In € thousand	2022	2021
Fair value of plan assets as of January 1	71	240
Employer contributions	85	74
Employee contributions	85	74
Benefits recovered / (paid)	151	(250)
Administration expenses	(6)	(5)
Return on asset excl. interest income	14	(71)
Interest income	1	0
Currency effects	10	9
Fair value of plan assets as of December 31	411	71

The plan assets are primarily comprised of retirement savings accounts of participants. These retirement savings are 100% funded with qualifying insurance policies as the foundation has reinsured all of its liabilities with a life insurer.

The expense / (income) recognized in the consolidated statements of operations and other comprehensive income is made up as follows:


In € thousand	2022	2021
Actuarial losses (+) / gains (-) deriving from experience adjustments	94	(202)
Actuarial gains (-) / losses (+) deriving from changes in demographical assumptions	—	(25)
Actuarial gains (-) / losses (+) deriving from changes in financial assumptions	(108)	(6)
Return on plan assets etc., interest (expense) / income	(14)	71
Included in other comprehensive income	(28)	(162)
Current service cost	95	112
Past service (credit) / cost	—	(1)
Interest income	(1)	0
Administrative expenses (effective)	6	5
Interest expense	1	1
Included in the consolidated statements of operations	101	117
Total expense / (income) included in the consolidated statements of operations and other comprehensive income	73	(45)

The current service cost is included as part of personnel costs within the respective functional area; interest cost relating to the obligation is a component of the result from financing activities.

For the years ended December 31, 2023 and 2024, the Group expects to make future payment contributions of €84 thousand (2021: €56 thousand for years ended December 31, 2022 and 2023).

The following were the principal actuarial assumptions as of:


	12/31/2022		12/31/2021
Future salary increases	3.00	%	1.00	%
Inflation rate	1.60	%	0.60	%
Future pension increases	0.00	%	0.00	%
Discount rate	2.20	%	0.35	%

Sensitivity Analysis

The main actuarial assumptions that are used to calculate the provisions for post-employment benefits are the discount rate and the trend for future increases in post-employment benefit obligations. A reasonably possible increase, or respectively decrease, in the significant actuarial assumptions would have had the following impact on the present value of the post-employment benefit obligations as of the respective reporting dates:


	2022		2021		2022		2021
Discount rate	0.25	%	0.25	%	(0.25)	%	(0.25)	%
Present value of the post-employment benefit obligations (in € thousand)	472		149		503		163
Salary increase	0.25	%	0.25	%	(0.25)	%	(0.25)	%
Present value of the post-employment benefit obligations (in € thousand)	490		156		480		155
Pension increase	0.25	%	0.25	%	(0.25)	%	(0.25)	%
Present value of the post-employment benefit obligations (in € thousand)	495		159		n/a		n/a

Duration

The average duration of the obligations is 15 years (December 31, 2021: 18 years).

Expected Benefit Payments


(in € thousand)	December 31, 2022
Financial years	2023	2024-2027	2028-2032
Expected benefit payments	29	161	280
Total expected benefit payments	29	161	280

Trade and other Payables

12 Months Ended

Dec. 31, 2022

Trade and other Payables

Trade and other Payables

26.Trade and other Payables

Trade and other payables are as follows:


In € thousand	12/31/2022	12/31/2021
Long term accruals	3,483	2,906
Non-current trade and other payables	3,483	2,906
Trade payables	19,195	14,936
Accruals for outstanding invoices	14,463	20,399
Current trade and other payables	33,658	35,335
Total trade and other payables	37,141	38,241

Long term accruals consist of non-recurring cost (NRC’s) arrangements with suppliers. These costs relate to research and development costs that have taken place and which payment will be due upon delivery of future shipments.

Other Non-Financial Liabilities

12 Months Ended

Dec. 31, 2022

Other Non-Financial Liabilities

Other Non-Financial Liabilities

27.Other Non-Financial Liabilities

Other non-financial liabilities are as follows:


In € thousand	12/31/2022	12/31/2021
Vacation accruals	2,474	2,488
Value added tax payables	—	242
Payroll tax and social security	3,497	2,992
Miscellaneous other current non-financial liabilities	2,596	338
Total other non-financial liabilities	8,567	6,060

Payroll tax and social security mainly comprise of personnel-related taxes. Miscellaneous other non-financial liabilities mainly result from personnel-related liabilities.

Financial Instruments

12 Months Ended

Dec. 31, 2022

Financial Instruments

Financial Instruments

28.Financial Instruments

28.1Carrying Amounts and Fair Value

The following tables disclose the carrying amounts of each class of financial instruments together with its corresponding fair value and the aggregated carrying amount per category:

Financial instruments, analyzed by classes and categories


	12/31/2022
In € thousand	Category	Carrying amount	Fair value
Financial assets, by class
Cash and cash equivalents	AC	179,581	n/a
Fixed term deposit	AC	19,987	n/a
Non-current security deposits	AC	3,386	3,265
Security deposits	AC	2,594	n/a
Total financial assets		205,548
Financial liabilities, by class
Non-current trade and other payables	AC	3,483	3,239
Current trade and other payables	AC	33,658	n/a
Non-current other liabilities	AC	21	21
Current other financial liabilities	AC	4	n/a
Warrants	FVTPL	26,267	26,267
Total financial liabilities		63,433


Thereof aggregated to categories according to IFRS 9		Carrying
		amount
Financial assets measured at AC		205,548
Financial assets measured at FVTPL		—
Financial liabilities measured at FVTPL		26,267
Financial liabilities measured at AC		37,166

Financial instruments, analyzed by classes and categories


	12/31/2021
In € thousand	Category	Carrying amount	Fair value
Financial assets, by class
Cash and cash equivalents	AC	129,856	n/a
Money market fund	FVTPL	99,919	99,919
Fixed term deposit	AC	119,664	n/a
Non-current security deposits	AC	3,779	3,787
Security deposits	AC	42	n/a
Total financial assets		353,260
Financial liabilities, by class
Non-current trade and other payables	AC	2,906	2,868
Current trade and other payables	AC	35,335	n/a
Warrants	FVTPL	21,405	21,405
Total financial liabilities		59,646


		Carrying
Thereof aggregated to categories according to IFRS 9		amount
Financial assets measured at AC		253,341
Financial assets measured at FVTPL		99,919
Financial liabilities measured at FVTPL		21,405
Financial liabilities measured at AC		38,241

The Public Warrants are traded in an active market and are therefore classified as level 1 of the fair value hierarchy. The Private Warrants have been classified as level 2 of the fair value hierarchy, however as the Private Warrants have the same characteristics as the Public Warrants, the same price has been used to calculate their fair value (see note 4 on Warrants). In addition, money market funds are also classified as level 1 as traded in an active market.

The fair values of non-current financial instruments measured at AC are in level 2 and are determined as expected cash flows discounted using market-based credit risk adjusted interest rate curves that are applicable for the Group and specific for the residual term of each financial instrument. The fair values of the non-current security deposits measured at AC are in level 2 and are determined as the principal balance discounted using market-based credit risk adjusted interest rate curves that are applicable for the Group. The Group’s trade and other payables would be classified in level 3 due to the Group’s risk profile. This has no impact on the valuation as trade and other payables were measured at AC.

RDO & 2022 PIPE Warrants were classified as level 3 of the fair value hierarchy, due to the inputs used to determine the fair value of the Warrants. Fair value has been determined using a Monte Carlo simulation in a risk neutral framework. The primary inputs into the simulation included the following: closing Lilium N.V. stock price as of the December 31, 2022, expected stock price volatility, term, risk-free rate and dividend yield. The expected stock price volatility was based on Lilium N.V. implied volatilities of 70%. The term input is equal to the Warrants’ remaining contractual term of 4 years. The risk-free interest rate is based on interpolated U.S. Constant Maturity Treasury rates for a maturity equal to the remaining life of the Warrants. The dividend rate is based on the historical rate, which the Company anticipates remaining at zero.

The below tables show the effect that an increase or decrease of the Lilium N.V. share price, $1.14 as of the December 31, 2022, or the volatility would have on the fair value of the RDO & 2022 PIPE Warrants.


December 31, 2022				Effect on financial
in € thousand	Shift in share price		Fair Value warrant	result
Base	—		(24,455)	—
Up	10	%	(28,316)	(3,861)
Down	(10)	%	(21,023)	3,432


				Effect on financial
in € thousand	Shift in volatility		Fair Value warrant	result
Base	—		(24,455)	—
Up	10	%	(27,029)	(2,574)
Down	(10)	%	(21,881)	2,575

The fair value of the promissory notes are calculated using a trinomial tree approach, set to optional conversion at an expected date. The primary inputs used in the model included the borrower’s share price at valuation date, probability of occurrence of each possible conversion and termination event, borrower-specific credit risk and risk-free interest rate. While the risk-free interest rate was based on currency specific time congruent IBOR and swap rates, the credit risk and stock prices of the borrower were not observable in a market and therefore highly judgmental. As of December 31, 2021, all promissory notes have been converted so that the Group is no longer exposed to equity price risk in relation to the promissory notes as of year-end.

The fair value of the embedded derivative that was bifurcated from the convertible loan issued in 2021 is determined by aggregating the valuations for the various expected conversion and termination events. Since all events would lead to a conversion for a set fixed conversion price (however, for a variable number of shares), the value is derived as a forward contract embedded in the loan contract. The primary inputs used in the model include probability of occurrence of each possible conversion and termination event, borrower-specific credit spread and risk-free interest rate. Credit risk is model-implied and adjusted for movement in credit spreads to consider the investor’s higher risk in connection with this convertible instrument at each valuation date, and the risk-free interest rate is based on currency specific time congruent IBOR and swap rates. As credit spreads and stock prices are not observable in a market, especially these input parameters are highly judgmental. The convertible loan was converted to equity during 2021 and no further gains or losses were recognized in finance income / (expenses) in the Statement of Operations.

The movements in level 3 fair values are as follows:


		Convertible loan –	RDO and 2022
In € thousand	Promissory Notes	embedded derivative	PIPE Warrants
January 1, 2021	676	14,948	—
Purchases / issuances	1,051	312	—
Changes from fair value remeasurement	475	(6,326)	—
Foreign exchange effects	20	—	—
Conversion	(2,222)	(8,934)	—
December 31, 2021	—	—	—
Initial recognition	—	—	34,550
Changes from fair value remeasurement	—	—	(8,979)
Foreign exchange effects	—	—	(1,116)
December 31, 2022	—	—	24,455

The net gains and losses for each of the financial instrument measurement categories were as follows:


2022	Subsequent measurement
		Foreign		Impairment
		exchange		losses net of	Total per
In € thousand	Interest	conversion	Fair value	reversal	category
Financial assets measured at amortized cost	(412)	1,147	—	125	860
Financial liabilities measured at amortized cost	(236)	(560)	—	—	(796)
Financial assets and liabilities measured at fair value through profit or loss	—	(508)	29,667	—	29,159
Total	(648)	79	29,667	125	29,223


2021	Subsequent measurement
		Foreign		Impairment
		exchange		losses net of	Total per
In € thousand	Interest	conversion	Fair value	reversal	category
Financial assets measured at amortized cost	(364)	1,061	—	(260)	437
Financial liabilities measured at amortized cost	(3,483)	(446)	—	—	(3,929)
Financial assets and liabilities measured at fair value through profit or loss	—	(1,018)	(3,327)	—	(4,345)
Total	(3,847)	(403)	(3,327)	(260)	(7,837)

The total interest income for financial assets that are not measured at FVTPL is €145 thousand (2021: €5 thousand), while the total interest expense for these financial assets is €557 thousand (2021: €369 thousand). The total interest expense for financial liabilities that are not measured at FVTPL is €236 thousand (2021: €3,483 thousand).

28.2Financial Instrument Risk Management Objectives and Policies

The Group is exposed to market risk (especially foreign exchange risk) and liquidity risk. The Group’s senior management oversees the management of these risks.

The CFO in combination with Treasury provides assurance to the Group’s senior management that the Group’s financial risk activities are governed by appropriate procedures and that financial risks are identified, measured and managed in accordance with the Group’s risk objectives. The Executive Board reviews and agrees on procedures for managing each of these risks, which are summarized below.

Management regularly reviews the Group’s risk management objectives to ensure that risks are identified and managed appropriately. The Executive Board is made aware of and reviews management’s risk assessments prior to entering into significant transactions.

Credit Risk

The following tables provide information about the exposures to credit risk for all financial assets that are not measured at fair value through profit or loss and therefore are generally subject to the impairment regulations of IFRS 9. The most significant part of the impairment loss allowance relates to the fixed-term deposits and cash balances.


				12/31/2022
	Equivalent to
	external	Gross	Impairment
	credit rating	carrying	loss	Credit-
in € thousand	[S&P]	amount	allowance	impaired
Grades 1–6: Low risk	BBB- to AAA	205,683	(135)	No
Of which:
Cash and cash equivalents		179,640	(59)	No
Fixed-term deposits		20,017	(30)	No
Security deposits		6,026	(46)	No


				12/31/2021
	Equivalent to
	external	Gross	Impairment
	credit rating	carrying	loss	Credit-
in € thousand	[S&P]	amount	allowance	impaired
Grades 1–6: Low risk	BBB- to AAA	253,601	(260)	No
Of which:
Cash and cash equivalents		129,859	(3)	No
Fixed-term deposit		119,920	(256)	No
Security deposits		3,822	(1)	No

The above financial assets are primarily held with reputable financial institutions with high credit ratings. As of December 31, 2022, 52% (2021: 83%) of the Group’s cash and cash equivalents and fixed term deposits are held with a single financial institution. The Group regularly monitors its cash and cash equivalents and takes corrective actions should it identify any possible changes in creditworthiness of these financial institutions.

As of December 31, 2021, the total impairment loss allowance was €260 thousand. During the year, certain fixed-term deposits matured, resulting in a reversal of impairment loss allowance of €256 thousand (2021: nil), and impairment loss of €131 thousand was recognized (2021: €260 thousand). As of December 31, 2022, the impairment loss allowance was €135 thousand (2021: €260 thousand).

Foreign Currency Risk

The Group operates globally and is exposed to foreign currency risk arising from exposure to various currencies in the ordinary course of business. The Group’s foreign currency exposures primarily consist of the British pound (“GBP”), Japanese Yen (“JPY”) and US Dollar (“USD”). Foreign currency exchange risk mainly arises from commercial and financing transactions that resulted in recognized financial assets and liabilities denominated in a currency other than the local functional currency.

The following table demonstrates the Group’s exposure to possible appreciation and depreciation in foreign currency.


	USD	JPY	GBP	Total exposure
At December 31, 2022	(in € thousand)	(in € thousand)	(in € thousand)	(in € thousand)
Cash and cash equivalents	17,927	—	—	17,927
Current financial assets	2,158	—	3,793	5,951
Non-current financial assets	5,424	—	6,369	11,793
Non-current trade and other payables	(2,885)	(901)	—	(3,786)
Current trade and other payables	(7,097)	—	(138)	(7,235)
Current financial liabilities	(8,358)	—	(10,107)	(18,465)
Warrants	(26,267)	—	—	(26,267)
	(19,098)	(901)	(83)	(20,082)


	USD	GBP	Total exposure
At December 31, 2021	(in € thousand)	(in € thousand)	(in € thousand)
Cash and cash equivalents	18,174	8	18,182
Current trade and other payables	(4,916)	(402)	(5,318)
Warrants	(21,405)	—	(21,405)
	(8,147)	(394)	(8,541)

The following table demonstrates the sensitivity of the Group to a reasonably possible appreciation and depreciation of the foreign exchange rates consisting of USD, GBP, and JPY towards the EUR by 10 %, with all other variables held constant. The impact on the Group’s profit or loss before tax is due to changes in the carrying amount of monetary assets and liabilities as of December 31, 2022:


	Effect of EUR appreciation on	Effect of EUR depreciation on
	profit before tax	profit before tax
Currency	(in € thousand)	(in € thousand)
USD	1,736	(2,122)
GBP	8	(9)
JPY	82	(100)

The impact on the Group’s profit or loss before tax is due to changes in the carrying amount of monetary assets and liabilities as of December 31, 2021:


	Effect of EUR appreciation on	Effect of EUR depreciation on profit
	profit before tax	before tax
Currency	(in € thousand)	(in € thousand)
USD	735	(898)
GBP	15	(19)

Interest Rate Risk

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. Interest rate risks from financial instruments can in general arise in connection with financial liabilities. Fixed rate securities may have their market value adversely impacted due to a rise in interest rates. Our cash equivalents and investment portfolio can also be subject to market risk due to changes in interest rates. Banks are adjusting the interest rate depending on changes of the respective reference rates set by central banks. The carrying value of variable interest bearing cash at banks is €82,128 thousand (2021: €130,000 thousand). Considering existing thresholds, a hypothetical reasonable increase / decrease of 50 basis points (2021: 10 basis points) in interest rates would have an effect on the Group’s consolidated financial statements of €411 / (€411) thousand (2021: €130 / (€130) thousand) arising from cash at banks.

Other Price Risk

In 2021 during the Reorganization, the Group entered into obligations to settle Reorganization Warrants for a total number of 19,710 thousand (please refer to note 23). In 2022, the Group entered into further obligations to settle RDO & 2022 PIPE Warrants bringing the total number of outstanding warrants to 65,472 thousand. The value of the Reorganization Warrants is based on a publicly traded price. A reasonably possible increase or decrease in the warrant price by 10 %, with all other variables held constant, would have led to a loss or gain before tax of €181 thousand (2021: €2,140 thousand) with a corresponding effect in the financial result. The value of the RDO & 2022 PIPE Warrants is estimated using implied volatility based on the closing price of the Reorganization Warrants calculated using Monte-Carlo simulation in a risk-neutral framework with its key parameters including the risk-free rate and the closing stock price of Lilium N.V.’s publicly traded Class A shares (refer to note 28.1 for share price sensitivity analysis).

In 2021, the Group invested into a money market fund with a total market value as of December 31, 2021 of €99,919 thousand. The value of the money market fund is based on a publicly traded price. A reasonable possible increase or decrease in the market price by 10 % would lead to a gain / (loss) before tax of €9,992 thousand. In 2022, the group sold all holdings in the money market fund so the Group is no longer exposed to equity price risk in relation to the money market fund.

In 2021, the Group invested in one further promissory note for a nominal amount of €1,051 thousand ($1,250 thousand). As of December 31, 2021, all promissory notes have been converted so that the Group is no longer exposed to equity price risk in relation to the promissory notes as of year-end.

Liquidity Risk

Liquidity risk is the risk that the Group will encounter difficulty in meeting its obligations associated with its financial liabilities as they fall due. The Group is expanding very rapidly which results in increasingly stringent requirements regarding the corporate planning for budgeting and procuring of financial resources in such a way that the development program of the Lilium Jet is not delayed. Consequently, the continuation of development is based on the Group’s ability to raise financing from investors in the form of various financing rounds. The Group ensures that the supply of liquidity is always sufficient to settle financial liabilities that are due for payment. Liquidity is evaluated and maintained using forecasts based on fixed planning horizons covering several months and through the cash and cash equivalent balances that are available.

The following table provides details of the (undiscounted) cash outflows of financial liabilities (including interest payments). Note that the Group expects to settle the Warrants in own equity instruments.


				12/31/2022
				2028 and
in € thousand	2023	2024	2025 to 2027	thereafter
Lease liabilities	2,970	2,457	6,463	—
Trade and other payables	33,658	1,974	2,770	—


				12/31/2021
				2027 and
in € thousand	2022	2023	2024 to 2026	thereafter
Lease liabilities	2,356	2,705	8,001	2,187
Trade and other payables	35,335	29	3,498	—

Capital Management

For the purpose of the Group’s capital management, capital includes all share capital and other equity reserves attributable to the equity holders. The primary objectives of capital management are to support operating activities and maximize the shareholder value through investment in the development activities of the Group.

Based on the ongoing development of the Lilium Jet, the Group has to rely almost exclusively on equity funding by its shareholders and debt financing until the Group can refinance itself in the future from marketable products as a result of successful development projects. The Group’s finance department reviews the total amount of cash of the Group on a monthly basis. As part of this review, management considers the total cash and cash equivalents, the cash outflow, currency translation differences and funding activities. The Group monitors cash using a burn rate. The cash burn rate is defined as the average monthly operational net cash flow.

The Group is not subject to externally imposed capital requirements. The objectives of the Group’s capital management were achieved in the reporting year. No changes were made in the objectives, policies or processes for managing cash during the years ended December 31, 2022 and 2021.

28.3Reconciliation of Changes in Liabilities arising from Financing Activities


In € thousand	Lease liabilities	Warrants	Total
Statement of Financial Position as of December 31, 2021	11,823	21,405	33,228
Principal elements of lease payments	(2,720)	—	(2,720)
Interest paid	(443)	—	(443)
Change in the cash flow from financing activities	(3,163)	—	(3,163)
Additions to lease liabilities due to new lease contracts	1,873	—	1,873
Additions to warrants	—	34,550	34,550
Fair value changes	—	(30,196)	(30,196)
Effects of foreign exchange conversion	—	508	508
Interest expenses	436	—	436
Capital contributions	—	—	—
Statement of Financial Position as of December 31, 2022	10,969	26,267	37,236


	Convertible	Lease
In € thousand	loans	liabilities	Warrants	Total
Statement of Financial Position as of December 31, 2020	99,235	11,118	—	110,353
Proceeds from convertible loans	1,850	—	—	1,850
Principal elements of lease payments	—	(1,781)	—	(1,781)
Interest paid	—	(437)	—	(437)
Change in the cash flow from financing activities	1,850	(2,218)	—	(368)
Additions to lease liabilities due to new lease contracts	—	2,486		2,486
Additions to warrants	—		25,859	25,859
Fair value changes	(6,326)	—	(5,492)	(11,818)
Effects of foreign exchange conversion			1,038	1,038
Interest expenses	3,483	437		3,920
Capital contributions	(98,242)	—		(98,242)
Statement of Financial Position as of December 31, 2021	—	11,823	21,405	33,228

Commitments and Contingencies

12 Months Ended

Dec. 31, 2022

Commitments and Contingencies.

Commitments and Contingencies

29.Commitments and Contingencies

The Group has various lease contracts as of December 31, 2022. The future lease payments for these lease contracts are €400 thousand (2021: Nil) within one year, €1,601 thousand (2021: €1,601 thousand) between one and five years and nil (2021: €400 thousand) thereafter.

The Group has commitments under operating contracts. The future payments for the operating contracts are €73,779 thousand (2021: €2,175 thousand) within one year, €100,177 thousand (2021: €37,517 thousand) between one and five years and €18,558 thousand (2021: €7,063 thousand) thereafter.

Further, the Group has commitments of €5,016 thousand (2021: €12,003 thousand) to acquire items of property, plant & equipment and commitments of €4,344 thousand (2021: €2,731 thousand) to acquire items of intangible assets.

The Group is required to issue, subject to the execution of definitive agreements, Azul Additional Warrants, which are expected to vest in three tranches upon achieving certain performance and market conditions. Please refer to the Strategic Commercial Collaboration with Azul in note 30.

On April 18, 2022, a putative class action was filed against Lilium N.V., Daniel Wiegand, Geoffrey Richardson, and Barry Engle for purported violations of United States securities laws. This lawsuit was filed in the U.S. District Court for the Central District of California. On February 10, 2023, the U.S. District Court for the Central District of California transferred the action to the U.S. District Court for the Southern District of Florida. The lawsuit is presently captioned as: Maniraj Ashirwad Gnanaraj v. Lilium N.V. et al., 2:22-CV-80232-Rosenberg/Reinhart. On February 15, 2023, the court entered an order appointing Jonathan Coon as Lead Plaintiff. On March 10, 2023, Lead Plaintiff filed an amended complaint that adds additional defendants and asserts additional claims for purported violations of the United States securities laws. The Group’s management believes the claims are without merit and intend to vigorously defend this litigation. The lawsuit is currently at a preliminary stage and the Group cannot predict its outcome, so the Group therefore cannot determine the likelihood of loss or estimate a range of possible loss.

In November 2022, the Group entered into a new success fee arrangement with an entity controlled by a former member of key management personnel shortly after cessation of employment, in which the Company will pay a percentage of future fundraising up to a cap of €9,300 thousand ($9,900 thousand). As of December 31, 2022, no conditions for payment had been met.

Related Party Disclosures

12 Months Ended

Dec. 31, 2022

Related Party Disclosures

Related Party Disclosures

30.Related Party Disclosures

The Group has no parent and no ultimate controlling party. Furthermore, the management holds shares.


	Shares (in thousand units)		Ownership Interest (%)
Function	12/31/2022	12/31/2021	12/31/2022		12/31/2021
Key management	28,302	25,743	7.2	%	9.1	%
Other related parties	128,679	121,389	32.7	%	42.7	%
Total	156,981	147,132	39.9	%	51.8	%

2022 PIPE participation

Members of key management personnel and other related parties participated in the November 2022 2022 PIPE transaction described in note 21. The related parties contributed €15,461 thousand in exchange for 12,192,306 shares and 6,096,151 warrants, acquiring additional beneficial ownership of 3.1% based on outstanding shares after the transaction.

Subsidiaries

Interests in subsidiaries are set out in note 2.

Transactions with Key Management

Key management personnel have been defined as the members of the Board of Directors and Senior Leadership Team of Lilium.

The annual remuneration and related compensation costs recognized as expense during the reporting period is comprised of the following:


In € thousand	2022	2021¹
Short-term employee benefits	4,657	3,607
Termination remuneration	52	619
Post-employment benefits	45	27
Share-based payment award remuneration	7,364	19,910
Success fees and JSOP	(4,568)	9,872
Total	7,550	34,035

¹ Certain amounts have been aggregated from prior years’ financial statements to conform to the current presentation.

During the year €320 thousand (2021: €72 thousand) were recognized as expense for cash remuneration of the board members of Lilium N.V.

Short-term benefits

Short-term benefits include salaries, bonuses and other benefits such as medical, death and disability coverage, company car and other usual facilities as applicable.

Share-based payment award remuneration

The share-based payment award remuneration represents the compensation cost of the equity-settled award schemes operated by Lilium during the period. Refer to note 22.

During the year, 3,557 thousand options (2021: 14,964 thousand options) were granted to key man-agement personnel. 1,872 thousand options (2021: no options) were exercised, 6,553 thousand options (2021: no options) were forfeited and 12,437 thousand options (2021: 19,204 thousand options) were held as of December 31, 2022 by key management personnel.

Success fees and JSOP

JSOP and bonus

Success fee remuneration includes the creation of the Joint Stock Ownership Plan (Stichting JSOP) and the bonus issued to one member of key management personnel, as described in notes 2 and 22.

The Stichting JSOP is a trust entity incorporated solely for the purpose of settling the transaction bonus to the member of key management personnel and is 100 % controlled by the Group. Under the JSOP arrangement, the Stichting JSOP held 879,691 Class A shares in the Group. As of December 31, 2021, these were recognized in treasury shares in the consolidated statement of financial position.

In December 2022, the recipient triggered the option to sell the shares, and Stichting JSOP sold all the Class A shares to third parties.

An income of €3,762 thousand (2021: €3,762 thousand expense) is recognized in General & Administrative expenses in relation to the JSOP and a credit of €673 thousand (2021: €1,676 thousand expense) in General & Administrative expenses in relation to the bonus. As of December 31, 2022 a share-based payment awards liability of nil (2021: €3,762 thousand) is recognized on the JSOP and €1,003 thousand (2021: €1,676 thousand) is recognized on the bonus.

Success fees and related arrangements

In November 2022, the success fee award for one member of key management personnel was replaced with a cash bonus agreement conditional on certain liquidity targets being met during the period which resulted in a payment in December 2022. Subsequently, in December 2022 the member signed a separation agreement with the Group and the liquidity bonus was terminated.

In November 2022, a success fee arrangement was cancelled upon the recipient leaving the employment of Lilium. A new arrangement was signed with an entity controlled by the former member of key management personnel shortly after cessation of employment, in which Lilium will pay a percentage of some future fundraising up to a cap of €9.3m ($9.9m). As of December 31, 2022 no conditions have been met for payment under the arrangement and no liability recorded.

During the year Lilium made cash payments of €2,457 thousand (2021: nil) in relation to success fees and related arrangements.

Other transactions with Key Management Personnel

The following transactions occurred with entities controlled or significantly influenced by members of key management personnel:


(in € thousand)	2022	2021¹
Research and development expenses	17	14
General and administration expenses	—	96
Selling expenses	289	167
Finance income	7	—
Finance expenses	6	—
Purchase of property, plant and equipment	24	1

¹ Certain amounts have been aggregated from prior years’ financial statements to conform to the current presentation.

Lilium have committed to indemnification agreements for several of its directors and executive officers of the Group in relation to any possible claims, suits or proceedings arising from their service to Lilium.

As of December 31, 2022 the Group recognized €20 thousand (2021: €10 thousand) in current trade payables, €149 thousand (2021: €150 thousand) in non-current trade payables, and prepaid expenses of €1 thousand (2021: nil) in non-financial assets in relation to transactions with entities controlled or significantly influenced by members of key management personnel.

A member of key management personnel returned 950,000 Lilium N.V. Class B shares in exchange for 950,000 Class A shares in a series of transactions in 2022, described in note 21. No further consideration was paid under the transactions.

Transactions with other related parties

Excluding key management personnel, related parties include entities over which the Group has significant influence and entities that have significant influence over the Group. The following transactions occurred with other related parties:


(in € thousand)	2022	2021¹
Convertible loans
Beginning of the year	—	99,235
Proceeds from convertible loans	—	1,007
Fair value changes of convertible loans	—	(6,337)
Interest expenses (not paid)	—	3,400
Subscribed capital	—	(7)
Contribution to capital reserves	—	(97,298)
End of the year	—	—

Azul Warrants	—	13,030
Research and development expenses	1,323	347

¹ Certain amounts have been aggregated from prior years’ financial statements to conform to the current presentation.

As of December 31, 2022 the Group recognized €1,226 thousand (2021: €45 thousand) in current trade payables in relation to transactions with other related parties.

As part of the Reorganization in 2021, Qell shares have been repurchased by the Group for no consideration from the Qell shareholders. Please see note 21 for additional information.

Convertible loans

During the year ended December 31, 2021, the convertible loan of €85,900 thousand were converted into 20,533,259 Lilium N.V. shares in March 2021 (retrospectively adjusted). In January 2021, the Group entered into another loan convertible to equity of €1,000 thousand with a significant shareholder which has been converted into 148,564 Lilium N.V. Class A shares in September 2021. No further convertible loan arrangements were entered into in 2022.

Investment in Joint Venture

In June 2021, Lilium closed a licensing agreement for the use of Ionblox’s intellectual property, to be paid as a royalty rate on battery capacity manufactured for the Lilium Jet. The licensing agreement stipulates a minimum fee to be paid from 2026 onward for use of Ionblox’s battery technology. In the same month, Lilium signed an amendment to an existing Development agreement with Ionblox, extending an exclusivity period for the use of Ionblox’s licensed technology.

During the year, Lilium has incurred Research and Development expenditure of €1,323 thousand (2021: €347 thousand) under the Development Agreement. As of December 31, 2022, a balance of €1,226 thousand (2021: €45 thousand) is held in Trade and other payables.

As at December 31, 2022, Lilium has a non-cancelable commitment of €7,702 thousand (2021: €7,946 thousand) on the Development agreement.

Strategic Commercial Collaboration

On July 31, 2021, Lilium executed a term sheet in which Lilium agreed to enter into negotiations with Azul to establish a strategic collaboration whereby Azul and Lilium will negotiate contracts to buy a certain number of Lilium Jets. As of the date these consolidated financial statements were approved, no contracts with respect to the acquisition of Lilium Jets or any other collaboration have been executed. Except for the Azul Warrants, the term sheet is legally non-binding. The term-sheet expired on December 31, 2022. The controlling shareholder of Azul is a member of key management personnel; therefore, Azul is a related party as of the date of the Reorganization. For further information on the warrants to Azul, please refer to notes 22 and 28.

Transactions with shareholders

Cloud subscription

In 2021, the Group entered into a non-cancelable purchase obligation for a cloud subscription with a shareholder (which provides advanced data analytics capability), including support services, updates and related professional services, for €42,433 thousand ($50,000 thousand) payable in increasing annual instalments over five years. This shareholder has no significant influence on Lilium.

In November 2022, the Group entered into a contract to increase the scope of services delivered by €4,558 thousand ($4,500 thousand), with a choice of settlement in either cash or Lilium N.V. Class A shares. In December 2022, the Group agreed to settle the balance by issuance of 3,101,523 Class A shares, to be paid out in January 2023 (see note 22).

In November 2022, the Group signed a further agreement with the provider that allows payment of €9,376 thousand ($10,000 thousand), due in March 2023, to be settled in either cash or Lilium N.V. Class A shares, at the discretion of Lilium. As of December 31, 2022, the Group had not yet committed to either choice.

During the year, €13,527 thousand (2021: €6,590 thousand) expenditure has been incurred under the contract in General and Administration expenses, including €4,558 thousand in relation to the November 2022 scope change to be settled by shares. As of December 31, 2022, the Group has nil prepayment (2021: €2,927 thousand) and recognized €8,315 thousand (2021: nil) in Other Capital Reserves in relation to the share-based payment awards.

As of December 31, 2022, the Group has remaining commitments of €26,894 thousand (2021: €34,015 thousand) on the contract.

Events after the Reporting Period

12 Months Ended

Dec. 31, 2022

Events after the Reporting Period

Events after the Reporting Period

31.Events after the Reporting Period

Cancellation of Class B shares

In January 2023 the Group cancelled 375,000 Class B shares held in treasury, decreasing treasury shares reserve and subscribed capital in the amount of €135 thousand.

AZUL MOU Amendment

In January 2023 Lilium and Azul entered into an agreement that extended the term of the term sheet signed on July 31, 2021 that allows for up to 6,200,000 warrants to be issued subject to the execution of definitive agreements (refer to note 22, 29, 30). The new arrangement provides for additional exclusivity rights and a limited Right of First Refusal for Azul over Lilium products and services in Brazil. The remaining terms were legally non-binding. As of the date these consolidated financial statements were approved, no binding contracts with Azul with respect to the acquisition of Lilium Jets or any other collaboration have been executed.

Conversion of Class B shares

During February 2023, a shareholder who is a member of key management personnel, converted 350,000 Class B shares into 350,000 Class A shares and 350,000 Class C shares and transferred the Class C shares back to the Group for no consideration in line with the articles of association, increasing treasury share reserve by €84 thousand.

Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2022

Significant Accounting Policies

Intangible assets

Intangible assets

Research and development costs

In developing its novel eVTOL technology, the Group incurs significant research and development costs.

The costs for internally generated research and development are expensed when incurred. A portion of costs for internally generated development is capitalized if:

●

the product or process is technically feasible;

●

adequate resources are available to successfully complete the development;

●

the beneﬁts from the assets are demonstrated;

●

the costs attributable to the projects are reliably measured; and

●

the Group intends to produce and market or use the developed product or process and can demonstrate its market relevance.

Purchased intangibles


		Useful life
Software		2 – 15 years
Purchased concessions, rights and other intangible assets		10 – 20 years

Impairment tests

Impairment tests

Property, Plant and Equipment

Property, Plant and Equipment

Borrowing costs are capitalized as part of the underlying asset under construction if there is a qualifying asset.

Depreciation is calculated on a straight-line basis over the estimated useful lives of the assets, as follows:


		Useful life
Rights to land and buildings including leasehold improvements		2 – 9 years
Technical equipment and machinery		3 – 25 years
Office and other equipment		3 – 13 years
Vehicles		5 – 11 years

Assets qualifying as low value assets with a value of up to €1 thousand are aggregated into groups and depreciated over a useful life of 5 years.

Leases

Leases

Contracts may contain both lease and non-lease components. The Group allocates the consideration in the contract to the lease and non-lease components based on their relative stand-alone prices.

The main components of the lease payments included in the measurement of the lease liability comprise the following:

●

fixed lease payments;

●

variable lease payments that are linked to an index (consumer price index); and

●

lease payments in an optional renewal period if the Group is reasonably certain to exercise an extension option.

Assets related to retirement obligations for leased buildings are included in the cost of right-of-use assets for the respective underlying building lease.

The Group does not have any contracts as a lessor as of the date of the consolidated statement of financial position.

Investment in joint venture / associate company

Investment in joint venture / associate company

(a)

Goodwill relating to a joint venture or associate is included in the carrying amount of the investment. Amortization of that goodwill is not permitted.

(b)

Non-financial Assets

Non-financial Assets

Insurance recoveries are recognized for virtually certain reimbursements for damaged assets from the insurers. Other non-financial assets are recognized at cost.

Cash and Cash Equivalents

Cash and Cash Equivalents

Treasury Shares

Treasury Shares

Financial Instruments

Financial Instruments

Financial assets

Transactions costs are expensed as incurred for financial assets initially measured at fair value through profit or loss (“FVTPL”).

Impairment of financial assets – expected credit losses (“ECL”)

Financial liabilities

The Group’s financial liabilities include warrants, lease liabilities (see note 16), derivatives, trade and other payables, and other financial liabilities.

Convertible Loans

Derivative Warrant Liabilities

Income Taxes

Income Taxes

Current income taxes

Deferred taxes

Deferred tax assets and deferred tax liabilities are not discounted.

Deferred taxes are always classified as non-current.

Provisions

Provisions

Fair Values of Assets and Liabilities

Fair Values of Assets and Liabilities

●

Level 1: contains the use of unadjusted quoted prices in active markets for identical assets or liabilities

●

Level 2: inputs are other than quoted prices included within Level 1 that are observable for the asset or liability either directly or indirectly

●

Level 3: inputs are based on unobservable market data

The Group recognizes transfers between levels of the fair value hierarchy at the end of the reporting period during which the change has occurred.

Further information about the assumptions made in measuring fair values of financial instruments is included in note 28.1.

Share-based Payments

Share-based Payments

General accounting principles

The Group grants certain share-based payment awards to the Group’s employees, advisors and vendors in exchange for their service.

Employee Stock Option Program (“ESOP”)

General population – Restricted Stock Units (“RSU”)

Upon termination, the employee is entitled to the vested portion of the RSU. All unvested RSU are forfeited.

Executives – Restricted Stock Units (“RSU”)

Annual Election RSU – Granted to non-executive board members on a yearly basis, RSU shall vest in full on the date immediately preceding the annual general meeting of shareholders.

Initial RSU – Granted to executives upon beginning service, the RSU shall vest in equal instalments on each of the first, second and third anniversaries of the vesting commencement date.

Executives – Performance-based stock options

Executives – Time-based stock options

Upon termination, the participant is entitled to the vested portion of the options. All unvested options are forfeited.

Executives – Success fees

The Group has granted success fees to certain key management personnel for successful fundraising.

Executives – Presence bonus

Executives - Joint Stock Ownership plan (JSOP) and bonus

Setting-up the JSOP and the bonus according to the arrangements made consists of the following steps:

●

Setting up a trust: A Dutch foundation “Stichting JSOP” was incorporated through a deed of incorporation.

●

o

o

Since the management member received cash from the JSOP and the bonus, both parts of these awards were accounted for as cash-settled.

Advisors – Strategic collaboration agreement

(i)

Azul Warrants to purchase 1,800,000 Class A shares, which were issued on a fully vested basis on October 22, 2021, granted upon the signing of term sheet and

(ii)

As the Azul Warrants are to be settled in shares of Lilium N.V., they are accounted for as equity-settled awards.

Share listing expense

Sponsor Lock-Up Shares: 4,595,133 Lilium Class A Shares acquired by Qell Partners LLC (the “Sponsor”) in connection with the Reorganization, having a lock-up period of one year.

For the transfer restrictions, the valuation has been adjusted as follows:

●

Qell Sponsor Lock-Up Shares: the closing price of Lilium N.V. shares as of Closing Date has been adjusted for a 5 % discount for lack of marketability due to the one-year lock-up restriction.

●

Qell Sponsor Earnout Shares: the closing price of Lilium N.V. shares as of Closing Date has been adjusted for a 5 % discount for lack of marketability.

Share-based payment – Vendors

Pension Benefits

Pension Benefits

Past service costs are recognized in profit or loss on the earlier of:

●

The date of the plan amendment or curtailment, and

●

The date that the Group recognizes related restructuring costs.

●

Service costs comprising current service costs, past-service costs, gains and losses on curtailments,

●

Non-routine settlements, and

●

Net interest expense or income.

Non-financial Liabilities

Non-financial Liabilities

Non-financial liabilities are recognized at their nominal amounts.

Revenue Recognition

Revenue Recognition

Government Grants

Government Grants

Basis of Preparation (Tables)

12 Months Ended

Dec. 31, 2022

Basis of Preparation

Schedule of equity interest owned by the company in subsidiaries


	Country of	Date of	% equity interest owned
Name	Incorporation	incorporation	12/31/ 2022		12/31/ 2021
Lilium N.V.	Netherlands	March 11, 2021	100.0	%	100.0	%
Lilium GmbH	Germany	February 11, 2015	100.0	%	100.0	%
Lilium Schweiz GmbH	Switzerland	December 8, 2017	100.0	%	100.0	%
Lilium Aviation UK Ltd.	United Kingdom	December 20, 2017	100.0	%	100.0	%
Lilium Aviation Inc.	United States	July 1, 2020	100.0	%	100.0	%
Lilium eAircraft GmbH	Germany	August 17, 2020	100.0	%	100.0	%
Stichting JSOP	Netherlands	September 10, 2021	0.0	%	0.0	%
Lilium Aviation Spain SLU	Spain	April 7, 2022*	100.0	%	n/a

* date of purchase of a shell company (company without active business).

Schedule of new standards, interpretations and amendments adopted


Standard/amendment/ interpretation		Effective date
Amendments to IFRS 3, ‘Business combinations’, IAS 16 ‘Property, plant and equipment’ and IAS 37 ‘Provisions, contingent liabilities and contingent assets’		Annual periods on or after January 1, 2022
Annual improvements 2018-2020		Annual periods on or after January 1, 2022

Schedule of new standards and interpretations not yet adopted


Standard/amendment/ interpretation		Effective date
IFRS 17, ‘Insurance contracts’ as amended in June 2020 by amendments to IFRS 17, Insurance Contracts		Annual periods on or after January 1, 2023
Amendment to IAS 1, ‘Presentation of financial statements’, IFRS Practice statement 2 and IAS 8, ‘Accounting policies, changes in accounting estimates and errors’		Annual periods on or after January 1, 2023
Deferred Tax related to Assets and Liabilities arising from a Single Transaction – Amendments to IAS 12		Annual periods on or after January 1, 2023
Amendments to IFRS 17: First-time Adoption of IFRS 17 and IFRS 9 - Comparative Information		Annual periods on or after January 1, 2023
Amendment to IAS 1, Non-current liabilities with Covenants		Annual periods on or after January 1, 2024
Amendment to IFRS 16 – Leases on sale and leaseback		Annual periods on or after January 1, 2024
Amendment to IAS 1, ‘Presentation of financial statements’, on classification of liabilities as current or non-current		Annual periods on or after January 1, 2024

Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2022

Significant Accounting Policies

Schedule of purchase of intangible assets


		Useful life
Software		2 – 15 years
Purchased concessions, rights and other intangible assets		10 – 20 years

Schedule of estimated useful lives of property plant and equipment


		Useful life
Rights to land and buildings including leasehold improvements		2 – 9 years
Technical equipment and machinery		3 – 25 years
Office and other equipment		3 – 13 years
Vehicles		5 – 11 years

Research and Development Expenses (Tables)

12 Months Ended

Dec. 31, 2022

Research and Development Expenses.

Schedule of research and development expenses


In € thousand	2022	2021	2020
Salaries and social security	77,455	75,672	66,536
Professional services	72,840	49,421	8,448
Materials	7,808	9,009	8,253
Depreciation/amortization/impairment	6,386	4,541	2,829
IT and communication expense	3,709	1,248	1,857
Other research and development expenses	7,420	4,667	2,422
Total research and development expenses	175,618	144,558	90,345

General and Administrative Expenses (Tables)

12 Months Ended

Dec. 31, 2022

General and Administrative Expenses.

Schedule of general and administrative expenses


In € thousand	2022	2021	2020
Share listing expense	—	111,109	—
Professional services	28,851	70,380	8,483
Salaries and social security	30,187	35,395	20,926
IT and communication expense	20,374	12,391	2,255
Depreciation/amortization	1,816	1,870	1,289
Insurances	6,457	1,698	73
HR related expenses (training, recruitment)	1,466	1,617	1,026
Other administrative expenses	4,736	4,633	1,354
Total administrative expenses	93,887	239,093	35,406

Selling Expenses (Tables)

12 Months Ended

Dec. 31, 2022

Selling Expenses.

Selling Expenses


In € thousand	2022	2021	2020
Salaries, social security	8,915	11,971	13,115
Professional services	1,690	1,983	1,196
Marketing	1,448	2,059	613
Travel	523	626	167
Depreciation/amortization	65	65	41
Other selling expenses	288	485	140
Total selling expenses	12,929	17,189	15,272

Other Income (Tables)

12 Months Ended

Dec. 31, 2022

Other Income

Schedule of other income


In € thousand	2022	2021	2020
Foreign currency gains	3,842	1,689	19
Insurance recoveries	483	456	1,906
Grants received from the German government	1,038	51	307
Income from other grants	—	—	42
At-equity income from dilution	1,179	—	—
Other miscellaneous income	266	78	72
Total other income	6,808	2,274	2,346

Other Expenses (Tables)

12 Months Ended

Dec. 31, 2022

Other Expenses

Schedule of other expenses


In € thousand	2022	2021	2020
Foreign currency losses	3,264	1,054	107
Miscellaneous other items	4	982	23
Total other expenses	3,268	2,036	130

Financial Result (Tables)

12 Months Ended

Dec. 31, 2022

Financial Result

Schedule of financial results


In € thousand	2022	2021	2020
Finance income	30,322	11,288	80
thereof: fair value changes	29,922	11,280	58
thereof: impairment loss net of reversal	125	—	—
Finance expenses	(1,995)	(20,201)	(49,741)
thereof: fair value changes	(763)	(15,645)	(15,222)
thereof: interest portion of lease payments	(443)	(437)	(450)
thereof: impairment loss net of reversal	—	(260)	—
thereof: interest on convertible loans	—	(3,483)	(33,960)
Financial result	28,327	(8,913)	(49,661)

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Taxes

Schedule of income tax expense


In € thousand	2022	2021	2020
Current income tax charge	(169)	(556)	(46)
Current income tax related to prior years	495	(143)	—
Current taxes	326	(699)	(46)
Deferred taxes	—	(10)	—
Income tax benefits / (expense)	326	(709)	(46)

Schedule of reconciliation of expected tax expense and reported tax expense


In € thousand	2022		2021		2020
Profit (Loss) before income tax	(253,390)		(410,327)		(188,381)
Income tax rate	27.55	%	27.55	%	27.55	%
Expected income taxes on this	69,809		113,045		51,899
Effects deriving from differences to the expected tax rate	9		40		54
Taxes for prior years	495		(143)		—
Other non-deductible expenses and taxes	(59)		(66)		(238)
Changes in the realization of deferred tax assets	(76,356)		(67,465)		(22,371)
Other	6,428		(46,120)		(29,390)
Income tax as per consolidated statement of operations	326		(709)		(46)
Effective tax rate in %	0.1	%	(0.2)	%	0.0	%

Schedule of deferred taxes


	Deferred tax assets		Deferred tax liabilities
In € thousand	12/31/2022	12/31/2021	12/31/2022	12/31/2021
Non-current assets	2,378	3,010	2,913	3,099
Intangible assets	2,341	2,995	—	—
Property, plant and equipment	37	15	2,903	3,088
Financial assets	—	—	10	11
Current assets	149	14	—	286
Inventories	123	11	—	—
Receivables and other assets	26	3	—	286
Non-current liabilities	446	645	—	167
Provisions	10	24	—	3
Liabilities	436	621	—	163
Current liabilities	138	222	208	631
Provisions	—	91	47	—
Liabilities	138	131	161	631
Loss carryforwards	—	282	—	—
Total value	3,111	4,173	3,121	4,183
Netting	(3,111)	(4,173)	(3,111)	(4,173)
Recognition in the consolidated statement of financial position	—	—	10	10

Schedule of tax attributes (gross)


In € thousand	12/31/2022	12/31/2021
Corporation tax loss carryforwards	661,501	388,980
Trade tax loss carryforwards	659,161	387,524
Interest carryforwards	15,348	15,846

Schedule of deductible temporary differences and tax loss and interest carryforwards


	Deferred tax assets on
			Interest
	Temporary	Tax	carry
In € thousand	differences	losses	forward	Total
Unrecognized deferred tax assets as of January 1, 2021	17,276	35,639	3,663	56,578
Addition	—	70,625	266	70,891
Deductions	(3,426)	—	—	(3,426)
Unrecognized deferred tax assets as of December 31, 2021	13,850	106,264	3,929	124,043
Addition	1,541	75,705	436	77,682
Deductions	—	—	(137)	(137)
Unrecognized deferred tax assets as of December 31, 2022	15,391	181,969	4,228	201,588

Loss per Share (Tables)

12 Months Ended

Dec. 31, 2022

Loss per Share

Schedule of income and share data used in the basic and diluted EPS calculations


	2022	2021	2020
Comprehensive loss attributed to equity shareholders	(253,003)	(410,830)	(188,435)
(in € thousand)
Weighted average number of shares outstanding
Basic and diluted	316,474,576	214,858,203	193,722,062
Basic and diluted EPS (in €)	(0.80)	(1.91)	(0.97)

Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2022

Intangible Assets

Schedule of intangible assets


		Purchased concessions,
		rights and other
In € thousand	Software	intangible assets	Total
Costs of acquisition
January 1, 2022	3,998	108	4,106
Additions	163	37	200
Transfer from property, plant and equipment	—	—	—
December 31, 2022	4,161	145	4,306
Accumulated amortization/write downs
January 1, 2022	2,694	18	2,712
Amortization	717	7	724
December 31, 2022	3,411	25	3,436
Carrying amount:
December 31, 2021	1,304	90	1,394
December 31, 2022	750	120	870


		Purchased concessions,
		rights, and other
In € thousand	Software	in-tangible assets	Total
Costs of acquisition
January 1, 2021	2,401	108	2,509
Additions	1,586	—	1,586
Transfer from property, plant and equipment	11	—	11
December 31, 2021	3,998	108	4,106
Accumulated amortization/write downs
January 1, 2021	1,125	12	1,137
Amortization	1,569	6	1,575
December 31, 2021	2,694	18	2,712
Carrying amount:
December 31, 2020	1,276	96	1,372
December 31, 2021	1,304	90	1,394

Property, Plant and Equipment (Tables)

12 Months Ended

Dec. 31, 2022

Property, Plant and Equipment

Schedule of Property, plant and equipment


	Rights to
	land and		Technical
	buildings		equipment	Office	Assets
	and leasehold		and	and other	under
In € thousand	improvements	Vehicles	machinery	equipment	construction	Total
Costs of acquisition or construction:
January 1, 2022	19,903	166	10,738	8,243	2,611	41,661
Additions	2,366	67	6,328	1,519	2,894	13,174
Disposals	—	(94)	(12)	(95)	—	(201)
Transfers	130	—	2,466	22	(2,618)	—
Transfer to intangible assets	—	—	—	—	—	—
Indexation impact	488	—	—	—	—	488
Foreign exchange	—	—	—	(6)	—	(6)
December 31, 2022	22,887	139	19,520	9,683	2,887	55,116
Accumulated depreciation:
January 1, 2022	5,438	82	1,669	3,862	—	11,051
Depreciation	3,642	64	2,168	1,617	—	7,491
Disposals	—	(94)	(12)	(68)	—	(174)
Impairment	—	—	52	—	—	52
Transfer	—	—	—	—	—	—
Foreign exchange	—	—	—	(3)	—	(3)
December 31, 2022	9,080	52	3,877	5,408	—	18,417
Carrying amount:
December 31, 2021	14,465	84	9,069	4,381	2,611	30,610
December 31, 2022	13,807	87	15,643	4,275	2,887	36,699


	Rights to
	land and		Technical
	buildings		equipment	Office	Assets
	and leasehold		and	and other	under
In € thousand	improvements	Vehicles	machinery	equipment	construction	Total
Costs of acquisition or construction:
January 1, 2021	15,774	160	6,195	5,590	1,144	28,863
Additions	3,444	6	2,532	2,644	4,200	12,826
Disposals	—	—	—	(1)	—	(1)
Transfers	711	—	2,009	2	(2,722)	—
Transfer to intangible assets	—	—	—	—	(11)	(11)
Indexation impact	(26)	—	—	—	—	(26)
Foreign exchange	—	—	2	8	—	10
December 31, 2021	19,903	166	10,738	8,243	2,611	41,661
Accumulated depreciation:
January 1, 2021	3,057	40	640	2,411	—	6,148
Depreciation	2,381	42	1,028	1,450	—	4,901
Transfer	—	—	1	(1)	—	—
Foreign exchange	—	—	—	2	—	2
December 31, 2021	5,438	82	1,669	3,862	—	11,051
Carrying amount:
December 31, 2020	12,717	120	5,555	3,179	1,144	22,715
December 31, 2021	14,465	84	9,069	4,381	2,611	30,610

Schedule of Property, plant and equipment is distributed among geographical areas


In € thousand	12/31/2022	12/31/2021
Property, plant and equipment
Germany	26,063	18,933
United Kingdom	97	100
United States	23	38
Switzerland	12	14
Spain	5	—
Right-of-use assets
Germany	10,033	11,525
Spain	466	—
Total	36,699	30,610

Leases (Tables)

12 Months Ended

Dec. 31, 2022

Leases

Schedule of right-of-use assets and lease liabilities


			Technical
			equipment	Office
	Rights		and	and other
In € thousand	to buildings	Vehicles	machinery	equipment	Total
January 1, 2021	10,375	77	461	28	10,941
Additions to right-of-use assets	2,369	—	29	170	2,568
Transfer	—	—	(17)	—	(17)
Depreciation	(1,808)	(34)	(45)	(54)	(1,941)
Indexation impact	(26)	—	—	—	(26)
December 31, 2021	10,910	43	428	144	11,525
Additions to right-of-use assets	1,526	63	23	—	1,612
Transfer	—	—	—	(144)	(144)
Disposal of right-of-use assets	—	(3)	(1)	—	(4)
Depreciation	(2,889)	(49)	(39)	—	(2,977)
Indexation impact	488	—	—	—	488
December 31, 2022	10,034	54	411	—	10,499

Schedule of lease related expense recognised in consolidated statement of operations and comprehensive income


In € thousand		Lease Liability
January 1, 2021		11,118
Additions		2,512
Interest		437
Payments		(2,218)
Indexation impact		(26)
December 31, 2021		11,823
Additions		1,385
Accrued interest		(7)
Interest		443
Payments		(3,163)
Indexation impact		488
December 31, 2022		10,969

The current and non-current portion of lease liabilities are as follows:


In € thousand	12/31/2022	12/31/2021
Current	2,616	1,962
Non-current	8,353	9,861
Total lease liabilities	10,969	11,823

Schedule of carrying amounts of lease liabilities and the movements


In € thousand	2022	2021	2020
Depreciation of right of-use-assets	2,977	1,941	1,631
Interest expense on lease liabilities	443	437	450
Short-term lease expenses	6	488	108
Lease expenses for low-value assets	137	220	80
Total amount recognized in expense	3,563	3,086	2,269

Schedule of information about the composition of the lease payments


In € thousand	2022	2021
Fixed lease payments	1,212	204
Variable lease payments	1,951	2,014
Total amount of lease payments	3,163	2,218

Schedule of information on the total cash outflow from all leases


In € thousand	2022	2021	2020
Principal paid	2,720	1,781	1,439
Interest paid	443	437	450
Short term and low value leases	143	708	188
Total amount paid	3,306	2,926	2,077

Investment in a Joint Venture / Associate (Tables)

12 Months Ended

Dec. 31, 2022

Schedule of valuation of investment in Zenlabs


	Carrying Value
In € thousand	2022	2021
January 1	15,054	—
Initial recognition	—	8,502
Conversion of promissory notes (July 2021)	—	2,222
Capital increases (July and September 2021)	—	5,178
Gain on dilution	1,179	—
Share of loss in a joint venture/ associate	(2,823)	(848)
December 31	13,410	15,054

Schedule of financial information for Zenlabs


In € thousand	01/01/2022 – 12/31/2022	3/10/2021 – 12/31/2021
Revenue	1,927	806
Loss from continued operations	(7,777)	(3,482)
Net loss for the year/ period	(7,369)	(2,907)


In € thousand	12/31/2022	12/31/2021
Non-current assets¹	25,438	24,255
Current assets	13,487	6,724
Preferred stock reclassification²	21,619	20,283
Non-current liabilities	(31,482)	(28,200)
Current liabilities	(933)	(756)
Shareholders’ equity	28,129	22,306


Reconciliation to carrying amounts of Lilium’s Interest in Ionblox
Group’s effective interest in the joint venture / associate	27.7	%	34.8	%
Group’s share in shareholders’ equity	7,780		7,762
Goodwill	8,370		7,558
Currency translation difference	(2,740)		(266)
Investment in a joint venture / associate	13,410		15,054

Other Financial Assets (Tables)

12 Months Ended

Dec. 31, 2022

Other Financial Assets

Schedule of other financials assets


In € thousand	12/31/2022	12/31/2021
Security deposits	3,386	3,779
Total non-current financial assets	3,386	3,779
Fixed term deposits	19,987	119,664
Money market funds	—	99,919
Security deposits	2,594	42
Total current other financial assets	22,581	219,625
Total other financial assets	25,967	223,404

Non-Financial Assets (Tables)

12 Months Ended

Dec. 31, 2022

Non-Financial Assets

Schedule of Non-financial assets


In € thousand	12/31/2022	12/31/2021
Advance payments	4,069	8,113
Prepaid expenses	9,418	—
Total non-current non-financial assets	13,487	8,113
Value added tax claims	1,696	12,602
Prepaid expenses	16,241	9,924
Miscellaneous other current non-financial assets	711	468
Total current non-financial assets	18,648	22,994
Total non-financial assets	32,135	31,107

Cash and Cash Equivalents (Tables)

12 Months Ended

Dec. 31, 2022

Cash and Cash Equivalents

Schedule of cash and cash equivalents


In € thousand	12/31/2022	12/31/2021
Petty cash	—	2
Short-term fixed deposits	49,385	—
Cash at banks	130,196	129,854
Total cash and cash equivalents	179,581	129,856

Shareholders' Equity (Tables)

12 Months Ended

Dec. 31, 2022

Shareholders' Equity

Schedule of amount of common and preferred shares


		Supervoting	Ordinary
	Common shares	shares	shares
(in units)	(Class A)	(Class B)	(Class C)	Total
Issued at January 1, 2020, as adjusted	130,596,327	24,413,065	—	155,009,392
Issued shares – convertible loans	19,156,185	—	—	19,156,185
Issued shares – capital increase	23,261,694	—	—	23,261,694
Issued as of December 31, 2020, as adjusted	173,014,206	24,413,065	—	197,427,271
Treasury shares – share buy-back	(205,704)	—	—	(205,704)
Outstanding as of December 31, 2020, as adjusted	172,808,502	24,413,065	—	197,221,567


	Common shares	Supervoting shares	Ordinary shares
(in units)	(Class A)	(Class B)	(Class C)	Total
Issued at January 1, 2021	173,014,206	24,413,065	—	197,427,271
Issued shares – convertible loans	20,533,259	—	—	20,533,259
Reorganization as of September 14, 2021	22,697,450	—	—	22,697,450
Treasury shares Lilium GmbH not exchanged into Lilium N.V. shares	—	—	—	—
Capital increase 2021 PIPE	45,000,000	—	—	45,000,000
Issued as of December 31, 2021	261,244,915	24,413,065	—	285,657,980
Treasury shares	(375,000)	—	—	(375,000)
Treasury shares (due to consolidation)	(879,691)	—	—	(879,691)
Outstanding as of December 31, 2021	259,990,224	24,413,065	—	284,403,289


	Common shares	Supervoting shares	Ordinary shares
(in units)	(Class A)	(Class B)	(Class C)	Total
Issued at January 1, 2022	261,244,915	24,413,065	—	285,657,980
Issued shares for share-based payment awards exercised	10,857,264	—	—	10,857,264
Warrants exercised	10	—	—	10
Issued shares – ELOC	5,618,697	—	—	5,618,697
Capital increase RDO & 2022 PIPE	91,524,935	—	—	91,524,935
Conversion of Class B Shares	525,000	(525,000)	525,000	525,000
Repurchase of Class B Shares	50,000	—	—	50,000
Issued as of December 31, 2022	369,820,821	23,888,065	525,000	394,233,886
Treasury shares	—	(425,000)	(525,000)	(950,000)
Outstanding as of December 31, 2022	369,820,821	23,463,065	—	393,283,886

Schedule of movement of treasury shares


	Common shares	Supervoting shares	Ordinary shares
(in units)	(Class A)	(Class B)	(Class C)	Total
At January 1, 2021	205,704	—	—	205,704
Treasury shares of Lilium GmbH not exchanged into Lilium N.V. shares	(205,704)	—	—	(205,704)
Treasury shares acquired upon Reorganization	375,000	—	—	375,000
Treasury shares from consolidation of Stichting JSOP	879,691	—	—	879,691
At December 31, 2021	1,254,691	—	—	1,254,691
Repurchase of Class B shares for Class A shares held in treasury	(375,000)	375,000	—	—
Repurchase of Class B shares for newly issued Class A shares	—	50,000	—	50,000
Conversion of Class B shares	—	—	525,000	525,000
Treasury shares sold by Stichting JSOP	(879,691)	—	—	(879,691)
At December 31, 2022	—	425,000	525,000	950,000

Share-based Payments (Tables)

12 Months Ended

Dec. 31, 2022

Schedule of share-based payment arrangement expense


In € thousand	2022	2021
General population and executives – standard ESOP	7,942	29,286
General population - RSU	4,977	77
Executives – ESOP special vesting	1,101	2,135
Executives – RSU	3,259	1,178
Executives – Performance-based stock options	(375)	2,296
Executives – Time-based stock options	2,200	3,505
Executives – Success fees (cash-settled)	(134)	2,590
Executives – Success fee (equity-settled)	—	1,844
Joint stock ownership Plan (JSOP) incl. bonus	(4,435)	5,438
Share-based payment – Vendors	9,726	—
Total expense	24,261	48,349

General population and executives - standard ESOP

Schedule of expense from share-based payment arrangement

The expense recognized for participant services received during the year is shown in the following table:


In € thousand	2022	2021
Expense arising from equity-settled share-based payment awards	7,942	29,286

General population - Restricted Stock Units ("RSU")

Equity-settled options:


	2022			2021
	Number of	2022		Number of	2021
(in units)	options	WAEP		options	WAEP
Outstanding at January 1	19,573,307	€	0.00	13,962,159	€	0.00
Granted during the year	5,714	€	0.00	4,019,799	€	0.00
Forfeited during the year	(1,188,512)	€	0.00	(757,105)	€	0.00
Exercised during the year	(10,318,085)	€	0.00	—		—
Transferred (to)/ from cash-settled	(22,856)	€	0.00	2,348,454	€	0.00
Outstanding at December 31	8,049,568	€	0.00	19,573,307	€	0.00

Cash-settled options:


	2022			2021
	Number of	2022		Number of	2021
(in units)	options	WAEP		options	WAEP
Outstanding at January 1	—		—	2,348,454		—
Exercised during the year	(17,142)	€	0.00	—		—
Transferred from/ (to) equity-settled	22,856	€	0.00	(2,348,454)	€	0.00
Outstanding at December 31	5,714	€	0.00	—		—

Schedule of fair values


		Price of one share in
in €	Valuation methodology	Lilium N.V.
December 31, 2020	Hybrid model	6.05
March 31, 2021	Hybrid model	7.13
June 30, 2021	Hybrid model	7.05
July 31, 2021	Hybrid model	7.36
August 31, 2021	Hybrid model	7.71
September 15, 2021	Actual share price	7.89
December 31, 2021	Actual share price	6.12
March 31, 2022	Actual share price	3.59

Schedule of expense from share-based payment arrangement


In € thousand	2022	2021
Expense arising from equity settled RSU	4,977	77

Executives - ESOP modified


	2022			2021
	Number of	2022		Number of	2021
(in units)	RSU	WAEP		RSU	WAEP
Outstanding at January 1	162,800	€	0.12	—		—
Assigned during the year	4,886,077	€	0.12	162,800	€	0.12
Exercised during the year	(638,470)	€	0.12	—		—
Forfeited during the year	(135,309)	€	0.12	—		—
Outstanding at December 31	4,275,098	€	0.12	162,800	€	0.12

Schedule of expense from share-based payment arrangement


In € thousand	2022	2021
Expense arising from equity-settled share-based payment awards	1,101	2,135

Executives - Restricted Stock Units ("RSU")


	2022		2021
	Number of	2022	Number of	2021
(in units)	options	WAEP	options	WAEP
Outstanding at January 1	1,888,477	7.90	—	—
Granted during the year	—	—	1,888,477	7.90
Forfeited during the year	(1,160,457)	8.50	—	—
Outstanding at December 31	728,020	6.94	1,888,477	7.90

Schedule of expense from share-based payment arrangement


In € thousand	2022	2021
Expense arising from equity–settled RSU	3,259	1,178

Executives - Performance-based stock options


	2022			2021
	Number of	2022		Number of	2021
(in units)	RSU	WAEP		RSU	WAEP
Outstanding at January 1	1,050,913	€	0.12	—		—
Granted during the year	1,699,411	€	0.12	1,050,913	€	0.12
Forfeited during the year	(134,400)	€	0.12	—		—
Exercised during the year	(291,199)	€	0.12	—		—
Outstanding at December 31	2,324,725	€	0.12	1,050,913	€	0.12

Schedule of expense from share-based payment arrangement


In € thousand	2022	2021
(Income) / expense arising from performance-based stock option	(375)	2,296

Schedule of inputs used for measurement of fair values


	2022			2021
	Number of	2022		Number of	2021
(in units)	options	WAEP		options	WAEP
Outstanding at January 1	7,036,501	€	8.15	—		—
Granted during the year	1,272,059	€	9.45	7,036,501	€	8.15
Forfeited during the year	(4,711,839)	€	8.66	—		—
Outstanding at December 31	3,596,721	€	7.94	7,036,501	€	8.15

The following table lists the inputs to the Black-Scholes model used for the fair market value calculation for performance-based stock options for the year ended December 31, 2022:


	2022	2021
Risk free rate range	(0.69%) – 2.01%	(0.69 %) – (0.66 %)
Expected dividend yield	—	—
Expected exercise term	3.3 – 3.4 years	4 years
Expected volatility	108.86% - 121.91%	121.8	%

Executives - Time-based stock options

Schedule of expense from share-based payment arrangement


In € thousand	2022	2021
Expense arising from time-based stock options	2,200	3,505

Schedule of inputs used for measurement of fair values

The following table illustrates the number and weighted average exercise prices (“WAEP”) of, and movements in, share options during the years ended December 31, 2022 and 2021:


	2022			2021
	Number of	2022		Number of	2021
(in units)	options	WAEP		options	WAEP
Outstanding at January 1	2,951,000	€	7.25	—		—
Granted during the year	2,199,488	€	2.76	2,951,000	€	7.25
Forfeited during the year	(2,043,000)	€	7.25	—		—
Outstanding at December 31	3,107,488	€	4.07	2,951,000	€	7.25


	2022	2021
Risk free rate range	(0.69 %) – 2.05 %	(0.69 %)
Expected dividend yield	0	0
Expected exercise term	1.1 – 1.8 years	4 years
Expected volatility	118.97 % – 124.10 %	121.9 %

Executives - Success fees

Schedule of expense from share-based payment arrangement


In € thousand	2022	2021
(Income)/expense for success fees cash-settled	(134)	2,590
Expense for success fee equity-settled	—	1,844
Total (income)/expense	(134)	4,434

Executives - Joint Stock Ownership plan (JSOP) and bonus

Schedule of expense from share-based payment arrangement


In € thousand	2022	2021
(Income)/ expense for JSOP	(3,762)	3,762
(Income)/ expense for bonus	(673)	1,676
Total (income)/ expense	(4,435)	5,438

Warrants, Convertible Loans and Other Financial Liabilities (Tables)

12 Months Ended

Dec. 31, 2022

Warrants and Other Financial Liabilities

Summary of warrants, convertible loans and other financial liabilities


in € thousand	12/31/2022	12/31/2021
Other non-current financial liabilities	21	—
Other current financial liabilities	4	—
Reorganization Warrants	1,811	21,405
RDO & 2022 PIPE Warrants	24,456	—
Warrants	26,267	21,405

Provisions (Tables)

12 Months Ended

Dec. 31, 2022

Provisions

Summary of movement in provisions


			Unwinding of
			discount and
		Additions/	changes in
In € thousand	01/01/2022	Reversals	discount rate	12/31/2022
Asset retirement obligations	233	66	3	302
Post-employment benefits (note 25)	84	(9)	—	75
Record retention obligations	56	22	(10)	68
Total non-current provisions	373	79	(7)	445
Year-end audit	1,067	(1,067)	—	—
Legal Claims	—	420	—	420
Severance payments	619	(505)	—	114
Other	736	(540)	—	196
Total current provisions	2,422	(1,692)	—	730


			Unwinding
			of discount
			and changes
		Additions/	in discount
In € thousand	01/01/2021	Reversals	rate	12/31/2021
Asset retirement obligations	175	54	4	233
Post-employment benefits (note 25)	193	(109)	—	84
Record retention obligations	43	13	—	56
Total non-current provisions	411	(42)	4	373
Year-end audit	—	1,067	—	1,067
Severance payments	80	539	—	619
Other	—	736	—	736
Total current provisions	80	2,342	—	2,422

Post-Employment Benefits (Tables)

12 Months Ended

Dec. 31, 2022

Post-Employment Benefits

Schedule of present value of the defined benefit obligations and the fair value of the plan assets


In € thousand	12/31/2022	12/31/2021
Present value of funded obligations	487	155
Fair value of plan assets	(411)	(71)
Net defined benefit liability	76	84

Schedule of reconciliation of the net defined benefit liability


In € thousand	2022	2021
Net defined liability at January 1	84	193
Defined benefit cost recognized in consolidated statement of operations	101	117
Defined benefit cost recognized in other comprehensive income	(28)	(162)
Employer contributions	(85)	(74)
Currency effects	4	10
Net defined liability at December 31	76	84

Schedule of reconciliation of the amount recognized in the consolidated statement of financial position


In € thousand	2022	2021
Employee benefit obligations as of January 1	155	433
Actuarial adjustments	(14)	(233)
thereof: experience adjustments	94	(202)
thereof: demographic adjustments	—	(25)
thereof: adjustments for financial assumptions	(108)	(6)
Current service cost	95	112
Past service credit	—	(1)
Interest expense	1	1
Currency effects	14	19
Employee contributions	85	74
Benefits recovered / (paid)	151	(250)
Employee benefit obligations as of December 31	487	155

Schedule of reconciliation of the plan assets


In € thousand	2022	2021
Fair value of plan assets as of January 1	71	240
Employer contributions	85	74
Employee contributions	85	74
Benefits recovered / (paid)	151	(250)
Administration expenses	(6)	(5)
Return on asset excl. interest income	14	(71)
Interest income	1	0
Currency effects	10	9
Fair value of plan assets as of December 31	411	71

Schedule of expense recognized in the consolidated statements of operations and other comprehensive income


In € thousand	2022	2021
Actuarial losses (+) / gains (-) deriving from experience adjustments	94	(202)
Actuarial gains (-) / losses (+) deriving from changes in demographical assumptions	—	(25)
Actuarial gains (-) / losses (+) deriving from changes in financial assumptions	(108)	(6)
Return on plan assets etc., interest (expense) / income	(14)	71
Included in other comprehensive income	(28)	(162)
Current service cost	95	112
Past service (credit) / cost	—	(1)
Interest income	(1)	0
Administrative expenses (effective)	6	5
Interest expense	1	1
Included in the consolidated statements of operations	101	117
Total expense / (income) included in the consolidated statements of operations and other comprehensive income	73	(45)

Schedule of principal actuarial assumptions


	12/31/2022		12/31/2021
Future salary increases	3.00	%	1.00	%
Inflation rate	1.60	%	0.60	%
Future pension increases	0.00	%	0.00	%
Discount rate	2.20	%	0.35	%


	2022		2021		2022		2021
Discount rate	0.25	%	0.25	%	(0.25)	%	(0.25)	%
Present value of the post-employment benefit obligations (in € thousand)	472		149		503		163
Salary increase	0.25	%	0.25	%	(0.25)	%	(0.25)	%
Present value of the post-employment benefit obligations (in € thousand)	490		156		480		155
Pension increase	0.25	%	0.25	%	(0.25)	%	(0.25)	%
Present value of the post-employment benefit obligations (in € thousand)	495		159		n/a		n/a

Schedule of significant actuarial assumptions would have had the following impact on the present value of the post-employment benefit obligations as of the respective reporting dates


(in € thousand)	December 31, 2022
Financial years	2023	2024-2027	2028-2032
Expected benefit payments	29	161	280
Total expected benefit payments	29	161	280

Trade and other Payables (Tables)

12 Months Ended

Dec. 31, 2022

Trade and other Payables

Summary of trade and other payables

Trade and other payables are as follows:


In € thousand	12/31/2022	12/31/2021
Long term accruals	3,483	2,906
Non-current trade and other payables	3,483	2,906
Trade payables	19,195	14,936
Accruals for outstanding invoices	14,463	20,399
Current trade and other payables	33,658	35,335
Total trade and other payables	37,141	38,241

Other Non-Financial Liabilities (Tables)

12 Months Ended

Dec. 31, 2022

Other Non-Financial Liabilities

Summary of other non-financial liabilities


In € thousand	12/31/2022	12/31/2021
Vacation accruals	2,474	2,488
Value added tax payables	—	242
Payroll tax and social security	3,497	2,992
Miscellaneous other current non-financial liabilities	2,596	338
Total other non-financial liabilities	8,567	6,060

Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2022

Financial Instruments

Summary of financial instruments, analyzed by classes and categories


	12/31/2022
In € thousand	Category	Carrying amount	Fair value
Financial assets, by class
Cash and cash equivalents	AC	179,581	n/a
Fixed term deposit	AC	19,987	n/a
Non-current security deposits	AC	3,386	3,265
Security deposits	AC	2,594	n/a
Total financial assets		205,548
Financial liabilities, by class
Non-current trade and other payables	AC	3,483	3,239
Current trade and other payables	AC	33,658	n/a
Non-current other liabilities	AC	21	21
Current other financial liabilities	AC	4	n/a
Warrants	FVTPL	26,267	26,267
Total financial liabilities		63,433


Thereof aggregated to categories according to IFRS 9		Carrying
		amount
Financial assets measured at AC		205,548
Financial assets measured at FVTPL		—
Financial liabilities measured at FVTPL		26,267
Financial liabilities measured at AC		37,166

Financial instruments, analyzed by classes and categories


	12/31/2021
In € thousand	Category	Carrying amount	Fair value
Financial assets, by class
Cash and cash equivalents	AC	129,856	n/a
Money market fund	FVTPL	99,919	99,919
Fixed term deposit	AC	119,664	n/a
Non-current security deposits	AC	3,779	3,787
Security deposits	AC	42	n/a
Total financial assets		353,260
Financial liabilities, by class
Non-current trade and other payables	AC	2,906	2,868
Current trade and other payables	AC	35,335	n/a
Warrants	FVTPL	21,405	21,405
Total financial liabilities		59,646


		Carrying
Thereof aggregated to categories according to IFRS 9		amount
Financial assets measured at AC		253,341
Financial assets measured at FVTPL		99,919
Financial liabilities measured at FVTPL		21,405
Financial liabilities measured at AC		38,241

Summary of effect of reasonable changes of the most significant input parameters on the fair values of the embedded derivatives


December 31, 2022				Effect on financial
in € thousand	Shift in share price		Fair Value warrant	result
Base	—		(24,455)	—
Up	10	%	(28,316)	(3,861)
Down	(10)	%	(21,023)	3,432


				Effect on financial
in € thousand	Shift in volatility		Fair Value warrant	result
Base	—		(24,455)	—
Up	10	%	(27,029)	(2,574)
Down	(10)	%	(21,881)	2,575

Summary of financial instruments, changes in fair Value of level 3 instruments


		Convertible loan –	RDO and 2022
In € thousand	Promissory Notes	embedded derivative	PIPE Warrants
January 1, 2021	676	14,948	—
Purchases / issuances	1,051	312	—
Changes from fair value remeasurement	475	(6,326)	—
Foreign exchange effects	20	—	—
Conversion	(2,222)	(8,934)	—
December 31, 2021	—	—	—
Initial recognition	—	—	34,550
Changes from fair value remeasurement	—	—	(8,979)
Foreign exchange effects	—	—	(1,116)
December 31, 2022	—	—	24,455

Summary of net gains and losses for each of the financial instrument measurement categories


2022	Subsequent measurement
		Foreign		Impairment
		exchange		losses net of	Total per
In € thousand	Interest	conversion	Fair value	reversal	category
Financial assets measured at amortized cost	(412)	1,147	—	125	860
Financial liabilities measured at amortized cost	(236)	(560)	—	—	(796)
Financial assets and liabilities measured at fair value through profit or loss	—	(508)	29,667	—	29,159
Total	(648)	79	29,667	125	29,223


2021	Subsequent measurement
		Foreign		Impairment
		exchange		losses net of	Total per
In € thousand	Interest	conversion	Fair value	reversal	category
Financial assets measured at amortized cost	(364)	1,061	—	(260)	437
Financial liabilities measured at amortized cost	(3,483)	(446)	—	—	(3,929)
Financial assets and liabilities measured at fair value through profit or loss	—	(1,018)	(3,327)	—	(4,345)
Total	(3,847)	(403)	(3,327)	(260)	(7,837)

Summary of exposures to credit risk for all financial assets that are not measured at fair value through profit or loss


				12/31/2022
	Equivalent to
	external	Gross	Impairment
	credit rating	carrying	loss	Credit-
in € thousand	[S&P]	amount	allowance	impaired
Grades 1–6: Low risk	BBB- to AAA	205,683	(135)	No
Of which:
Cash and cash equivalents		179,640	(59)	No
Fixed-term deposits		20,017	(30)	No
Security deposits		6,026	(46)	No


				12/31/2021
	Equivalent to
	external	Gross	Impairment
	credit rating	carrying	loss	Credit-
in € thousand	[S&P]	amount	allowance	impaired
Grades 1–6: Low risk	BBB- to AAA	253,601	(260)	No
Of which:
Cash and cash equivalents		129,859	(3)	No
Fixed-term deposit		119,920	(256)	No
Security deposits		3,822	(1)	No

Schedule of exposure to possible appreciation and depreciation in foreign currency


	USD	JPY	GBP	Total exposure
At December 31, 2022	(in € thousand)	(in € thousand)	(in € thousand)	(in € thousand)
Cash and cash equivalents	17,927	—	—	17,927
Current financial assets	2,158	—	3,793	5,951
Non-current financial assets	5,424	—	6,369	11,793
Non-current trade and other payables	(2,885)	(901)	—	(3,786)
Current trade and other payables	(7,097)	—	(138)	(7,235)
Current financial liabilities	(8,358)	—	(10,107)	(18,465)
Warrants	(26,267)	—	—	(26,267)
	(19,098)	(901)	(83)	(20,082)


	USD	GBP	Total exposure
At December 31, 2021	(in € thousand)	(in € thousand)	(in € thousand)
Cash and cash equivalents	18,174	8	18,182
Current trade and other payables	(4,916)	(402)	(5,318)
Warrants	(21,405)	—	(21,405)
	(8,147)	(394)	(8,541)

Summary of sensitivity of a change in foreign currency

The impact on the Group’s profit or loss before tax is due to changes in the carrying amount of monetary assets and liabilities as of December 31, 2022:


	Effect of EUR appreciation on	Effect of EUR depreciation on
	profit before tax	profit before tax
Currency	(in € thousand)	(in € thousand)
USD	1,736	(2,122)
GBP	8	(9)
JPY	82	(100)

The impact on the Group’s profit or loss before tax is due to changes in the carrying amount of monetary assets and liabilities as of December 31, 2021:


	Effect of EUR appreciation on	Effect of EUR depreciation on profit
	profit before tax	before tax
Currency	(in € thousand)	(in € thousand)
USD	735	(898)
GBP	15	(19)

Summary of details of the (undiscounted) cash outflows of financial liabilities


				12/31/2022
				2028 and
in € thousand	2023	2024	2025 to 2027	thereafter
Lease liabilities	2,970	2,457	6,463	—
Trade and other payables	33,658	1,974	2,770	—


				12/31/2021
				2027 and
in € thousand	2022	2023	2024 to 2026	thereafter
Lease liabilities	2,356	2,705	8,001	2,187
Trade and other payables	35,335	29	3,498	—

Summary of reconciliation of changes in liabilities arising from financing activities


In € thousand	Lease liabilities	Warrants	Total
Statement of Financial Position as of December 31, 2021	11,823	21,405	33,228
Principal elements of lease payments	(2,720)	—	(2,720)
Interest paid	(443)	—	(443)
Change in the cash flow from financing activities	(3,163)	—	(3,163)
Additions to lease liabilities due to new lease contracts	1,873	—	1,873
Additions to warrants	—	34,550	34,550
Fair value changes	—	(30,196)	(30,196)
Effects of foreign exchange conversion	—	508	508
Interest expenses	436	—	436
Capital contributions	—	—	—
Statement of Financial Position as of December 31, 2022	10,969	26,267	37,236


	Convertible	Lease
In € thousand	loans	liabilities	Warrants	Total
Statement of Financial Position as of December 31, 2020	99,235	11,118	—	110,353
Proceeds from convertible loans	1,850	—	—	1,850
Principal elements of lease payments	—	(1,781)	—	(1,781)
Interest paid	—	(437)	—	(437)
Change in the cash flow from financing activities	1,850	(2,218)	—	(368)
Additions to lease liabilities due to new lease contracts	—	2,486		2,486
Additions to warrants	—		25,859	25,859
Fair value changes	(6,326)	—	(5,492)	(11,818)
Effects of foreign exchange conversion			1,038	1,038
Interest expenses	3,483	437		3,920
Capital contributions	(98,242)	—		(98,242)
Statement of Financial Position as of December 31, 2021	—	11,823	21,405	33,228

Related Party Disclosures (Tables)

12 Months Ended

Dec. 31, 2022

Related Party Disclosures

Schedule of Share based ultimate controlling party


	Shares (in thousand units)		Ownership Interest (%)
Function	12/31/2022	12/31/2021	12/31/2022		12/31/2021
Key management	28,302	25,743	7.2	%	9.1	%
Other related parties	128,679	121,389	32.7	%	42.7	%
Total	156,981	147,132	39.9	%	51.8	%

Schedule of annual remuneration and related compensation costs recognized as expense


In € thousand	2022	2021¹
Short-term employee benefits	4,657	3,607
Termination remuneration	52	619
Post-employment benefits	45	27
Share-based payment award remuneration	7,364	19,910
Success fees and JSOP	(4,568)	9,872
Total	7,550	34,035

¹ Certain amounts have been aggregated from prior years’ financial statements to conform to the current presentation.

Schedule of balances held by entities with significant influence over the company


(in € thousand)	2022	2021¹
Research and development expenses	17	14
General and administration expenses	—	96
Selling expenses	289	167
Finance income	7	—
Finance expenses	6	—
Purchase of property, plant and equipment	24	1

¹ Certain amounts have been aggregated from prior years’ financial statements to conform to the current presentation.

Schedule of balances held by entities with significant influence over the company


(in € thousand)	2022	2021¹
Convertible loans
Beginning of the year	—	99,235
Proceeds from convertible loans	—	1,007
Fair value changes of convertible loans	—	(6,337)
Interest expenses (not paid)	—	3,400
Subscribed capital	—	(7)
Contribution to capital reserves	—	(97,298)
End of the year	—	—

Azul Warrants	—	13,030
Research and development expenses	1,323	347

¹ Certain amounts have been aggregated from prior years’ financial statements to conform to the current presentation.

Corporate Information (Details)		12 Months Ended
Corporate Information (Details)	Sep. 14, 2021	Dec. 31, 2022
Corporate Information
Share split	0.0004	0.0004
Percentage of shares acquired		31.40%
Business Combination Agreement
Corporate Information
Percentage of shares acquired	100.00%

Basis of Preparation - Going Concern (Details) € in Millions	12 Months Ended
	Dec. 31, 2022 EUR (€)
Basis Of Preparation
Cash flows from operations including accumulated losses	€ 970.2

Basis of Preparation - Group Information (Details)	12 Months Ended
Basis of Preparation - Group Information (Details)	Dec. 31, 2022	Dec. 31, 2021
Lilium N.V.
Basis of Preparation
Proportion of interest in subsidiary	100.00%	100.00%
Lilium GmbH
Basis of Preparation
Proportion of interest in subsidiary	100.00%	100.00%
Lilium Schweiz GmbH
Basis of Preparation
Proportion of interest in subsidiary	100.00%	100.00%
Lilium Aviation UK Ltd.
Basis of Preparation
Proportion of interest in subsidiary	100.00%	100.00%
Lilium Aviation Inc.
Basis of Preparation
Proportion of interest in subsidiary	100.00%	100.00%
Lilium eAircraft GmbH
Basis of Preparation
Proportion of interest in subsidiary	100.00%	100.00%
Stichting JSOP
Basis of Preparation
Proportion of interest in subsidiary	0.00%	0.00%
Lilium Aviation Spain SLU
Basis of Preparation
Proportion of interest in subsidiary	100.00%

Significant Accounting Policies - Purchase of intangible assets (Details)	12 Months Ended
	Dec. 31, 2022
Minimum \| Software
Significant Accounting Policies
Useful life of intangible assets	2 years
Minimum \| Purchased concessions, rights and other intangible assets
Significant Accounting Policies
Useful life of intangible assets	10 years
Maximum \| Software
Significant Accounting Policies
Useful life of intangible assets	15 years
Maximum \| Purchased concessions, rights and other intangible assets
Significant Accounting Policies
Useful life of intangible assets	20 years

Significant Accounting Policies - Estimated useful lives of property plant and equipment (Details)	12 Months Ended
	Dec. 31, 2022
Significant Accounting Policies
Useful life of property and equipment	5 years
Minimum \| Rights to land and buildings including leasehold improvements
Significant Accounting Policies
Useful life of property and equipment	2 years
Minimum \| Technical equipment and machinery
Significant Accounting Policies
Useful life of property and equipment	3 years
Minimum \| Office and other equipment
Significant Accounting Policies
Useful life of property and equipment	3 years
Minimum \| Vehicles [Member]
Significant Accounting Policies
Useful life of property and equipment	5 years
Maximum \| Rights to land and buildings including leasehold improvements
Significant Accounting Policies
Useful life of property and equipment	9 years
Maximum \| Technical equipment and machinery
Significant Accounting Policies
Useful life of property and equipment	25 years
Maximum \| Office and other equipment
Significant Accounting Policies
Useful life of property and equipment	13 years
Maximum \| Vehicles [Member]
Significant Accounting Policies
Useful life of property and equipment	11 years

Significant Accounting Policies (Details) € in Thousands	12 Months Ended
Significant Accounting Policies (Details) € in Thousands	Dec. 31, 2022 EUR (€)
Significant Accounting Policies
Low value assets	€ 1
Minimum
Significant Accounting Policies
Lease term	2 years
Maximum
Significant Accounting Policies
Lease term	9 years

Significant Accounting Policies - Share-based payments (Details) € / shares in Units, € in Thousands	1 Months Ended	12 Months Ended
	Sep. 30, 2021 item	Dec. 31, 2022 EUR (€) installment tranche item € / shares shares	Dec. 31, 2021 EUR (€)	Dec. 31, 2020 EUR (€) shares	Dec. 31, 2022 $ / shares	Oct. 23, 2022 shares	Oct. 22, 2021 shares	Dec. 31, 2019 EUR (€)
Significant Accounting Policies
Number of tranches \| tranche		3
Share listing expense			€ 111,109
Number of shares issued during period \| shares				23,261,694
Cash and cash equivalents		€ 179,581	129,856	€ 102,144				€ 59,571
Current liabilities		73,016	€ 75,764
Financial liabilities		€ 63,433
General population and executives - standard ESOP
Significant Accounting Policies
Vesting period (in years)		4 years
Contractual life		0 years
Lock-up period for options become exercisable		180 days
General population and executives - standard ESOP \| Tranche one
Significant Accounting Policies
Vesting percentage		25.00%
General population - Restricted Stock Units ("RSU")
Significant Accounting Policies
Vesting period (in years)		1 year
Vesting percentage		100.00%
Price per share upon vesting \| € / shares		€ 0.12
Executives - Restricted Stock Units ("RSU")
Significant Accounting Policies
Price per share upon vesting \| € / shares		€ 0.12
Term of agreements		4 years
Executives - Performance-based stock options
Significant Accounting Policies
Contractual life		10 years
Period for exercise of shares upon vesting after cease from employment (in days)		90 days
Number of quarterly installments \| installment		17
Executives - Time-based stock options
Significant Accounting Policies
Vesting percentage		31.00%
Contractual life		10 years
Period for exercise of shares upon vesting after cease from employment (in days)		90 days
Number of persons awarded \| item		3
Executives - Success fees
Significant Accounting Policies
Number of awards settled \| item	1
Executives - Presence bonus
Significant Accounting Policies
Number of persons awarded \| item		1
Executives - Joint Stock Ownership plan (JSOP) and bonus
Significant Accounting Policies
Carry charge (in percent)		7.50%
Interest (in percent)		7.50%
Advisors - Strategic collaboration agreement
Significant Accounting Policies
Number of warrants to purchase shares \| shares		8,000,000				6,200,000	1,800,000
Exercise price of warrant \| € / shares		€ 0.12
Number of tranches \| item		3
Share listing expense
Significant Accounting Policies
Number of tranches \| tranche		3
Share listing expense \| Total
Significant Accounting Policies
Net assets		€ 53,900
Cash and cash equivalents		83,300
Current liabilities		3,600
Financial liabilities		€ 25,800
Share listing expense \| Total \| Sponsor Lock-Up Shares
Significant Accounting Policies
Discount for lack of marketability (in percent)		5.00%
Share listing expense \| Total \| Sponsor Earnout Shares
Significant Accounting Policies
Discount for lack of marketability (in percent)		5.00%
Share listing expense \| Qell share-holders
Significant Accounting Policies
Fair value of shares		€ 165,000
Net assets		53,900
Share listing expense		€ 111,100
Value per share traded \| $ / shares					$ 9.41
Number of shares issued during period \| shares		21,080,961
Share listing expense \| Qell Sponsors \| Sponsor Lock-Up Shares
Significant Accounting Policies
Number of shares issued during period \| shares		4,595,133
Lock-up period		1 year
Share listing expense \| Qell Sponsors \| Sponsor Earnout Shares
Significant Accounting Policies
Number of shares issued during period \| shares		3,063,422
Share listing expense \| Qell Sponsors \| Sponsor Earnout Shares \| Tranche one
Significant Accounting Policies
Number of shares issued during period \| shares		1,148,783
Share listing expense \| Qell Sponsors \| Sponsor Earnout Shares \| Tranche two
Significant Accounting Policies
Number of shares issued during period \| shares		1,148,783
Share listing expense \| Qell Sponsors \| Sponsor Earnout Shares \| Tranche three
Significant Accounting Policies
Number of shares issued during period \| shares		765,856
Share-based payment - Vendors
Significant Accounting Policies
Number of third parties \| item		2

Significant Accounting Judgments, Estimates and Assumptions (Details)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Significant Accounting Judgments, Estimates and Assumptions
Weighted average IBR	3.53%	3.75%
Period of ownership restriction for Private Warrants after the completion of the Business Combination	30 days

Significant Accounting Judgments, Estimates and Assumptions - Investment in associate - Purchase Price Allocation (Details)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Significant Accounting Judgments, Estimates and Assumptions
Percentage of ownership interest in associate	27.70%	34.80%
Zenlabs Energy Inc
Significant Accounting Judgments, Estimates and Assumptions
Percentage of ownership interest in associate	27.70%
Hypothetical royalty rate	0.93%
Technology portfolio \| Zenlabs Energy Inc
Significant Accounting Judgments, Estimates and Assumptions
Useful life of intangible assets	15 years
Brand asset \| Zenlabs Energy Inc
Significant Accounting Judgments, Estimates and Assumptions
Useful life of intangible assets	15 years

Significant Accounting Judgments, Estimates and Assumptions - Share-based Payments (Details)	12 Months Ended
	Dec. 31, 2022
Significant Accounting Judgments, Estimates and Assumptions
Weighted average expected timing of fulfillment of performance condition	20 months
Percentage of weighted average probability	69.00%
Share listing expense, percentage for transfer restrictions imposed on Sponsor Lock-Up Shares and Sponsor Earnout Shares	5.00%

Revenue from Contracts with Customers and Cost of Sales (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Revenue from Contracts with Customers and Cost of Sales
Revenue recognized	€ 47	€ 97

Research and Development Expenses (Details) - Research and Development Expenses - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Research and Development Expenses
Salaries and social security	€ 77,455	€ 75,672	€ 66,536
Professional services	72,840	49,421	8,448
Materials	7,808	9,009	8,253
Depreciation/amortization/impairment	6,386	4,541	2,829
IT and communication expense	3,709	1,248	1,857
Other expenses by nature	7,420	4,667	2,422
Total	€ 175,618	€ 144,558	€ 90,345

Research and Development Expenses - Additional Information (Details) - Research and Development Expenses - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Research and Development Expenses
Professional fees, consulting services	€ 54,734	€ 31,576	€ 3,732
Professional fees, contractors	€ 18,105	€ 17,845	€ 4,716

General and Administrative Expenses (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
General and Administrative Expenses
Share listing expense		€ 111,109
General and Administrative Expenses
General and Administrative Expenses
Share listing expense		111,109
Professional services	€ 28,851	70,380	€ 8,483
Salaries and social security	30,187	35,395	20,926
IT and communication expense	20,374	12,391	2,255
Depreciation/amortization	1,816	1,870	1,289
Insurances	6,457	1,698	73
HR related expenses (training, recruitment)	1,466	1,617	1,026
Other administrative expenses	4,736	4,633	1,354
Total	€ 93,887	€ 239,093	€ 35,406

General and Administrative Expenses - Additional Information (Details) - General and Administrative Expenses - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
General and Administrative Expenses
Amount of reduction in professional services expenses	€ 4,435	€ 5,438	€ 0
Professional services, consulting and legal fees	33,127
Professional services, issue of Azul warrants expenses	13,030
IT and communication expense incurred for cloud-based data analytics tool	€ 13,527	€ 6,590	€ 0

Selling Expenses (Details) - Selling Expenses - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Selling Expenses
Salaries, social security	€ 8,915	€ 11,971	€ 13,115
Professional services	1,690	1,983	1,196
Marketing	1,448	2,059	613
Travel	523	626	167
Depreciation/amortization	65	65	41
Other expenses by nature	288	485	140
Total	€ 12,929	€ 17,189	€ 15,272

Other Income (Details) - EUR (€) € in Thousands	12 Months Ended
Other Income (Details) - EUR (€) € in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Other Income
Foreign currency gains	€ 3,842	€ 1,689	€ 19
Insurance recoveries	483	456	1,906
Grants received from the German government	1,038	51	307
Income from other grants			42
At-equity income from dilution	1,179
Other miscellaneous income	266	78	72
Total other income	€ 6,808	€ 2,274	€ 2,346

Other Income - Additional Information (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Other Income
Foreign currency gains derived from favorable exchange rate movements	€ 3,842	€ 1,689	€ 19
Insurance recoveries, amount for damage to equipment sustained in transit	483
Insurance recoveries, amount for damage which occurred as a result of an accident during maintenance work		456	1,906
Gain on dilution in the investment	1,179
Other miscellaneous income related to health insurance reimbursements	€ 167	€ 0	€ 0

Other Expenses (Details) - EUR (€) € in Thousands	12 Months Ended
Other Expenses (Details) - EUR (€) € in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Other Expenses
Foreign currency losses	€ 3,264	€ 1,054	€ 107
Miscellaneous other items	4	982	23
Total other expenses	€ 3,268	€ 2,036	€ 130

Financial Result (Details) - EUR (€) € in Thousands	12 Months Ended
Financial Result (Details) - EUR (€) € in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Financial Result
Finance income	€ 30,322	€ 11,288	€ 80
thereof: fair value changes	29,922	11,280	58
thereof: impairment loss net of reversal	125	0	0
Finance expenses	(1,995)	(20,201)	(49,741)
thereof: fair value changes	763	15,645	15,222
thereof: interest portion of lease payments	(443)	(437)	(450)
thereof: impairment loss net of reversal		(260)
thereof: interest on convertible loans		(3,483)	(33,960)
Financial result	€ 28,327	€ (8,913)	€ (49,661)

Financial Result - Additional Information (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Financial Result
Changes in fair value of warrants included in finance income	€ 29,688	€ 4,454	€ 0
Fair value changes in the price of the warrants	30,196	5,492	0
Gain on foreign exchange conversion of RDO & 2022 PIPE Warrants	1,116	0	0
Offset by the loss on foreign exchange conversion of Reorganization Warrants	1,624	1,038	0
Gain on foreign currency contract	234	0	0
Impairment losses net of reversal	125	0	0
Fair value changes of money market funds included in finance expense	67	87	0
Fair value changes in the ELOC purchased put option	696	0	0
Fair value changes of foreign currency exchange contract included in finance expense		€ 15,532
Fair value changes from the embedded derivatives of the convertible loans			€ 15,222
Convertible loans outstanding	0
Investments in money market funds	€ 0

Income Taxes - Expense for Income Tax Expense (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Taxes
Current income tax expense	€ (169)	€ (556)	€ (46)
Current income tax expense related to prior years	495	(143)
Current taxes	326	(699)	(46)
Deferred tax expense		(10)
Income tax benefits / (expense	€ 326	€ (709)	€ (46)

The aggregate amount included in the determination of profit (loss) for the period in respect of current tax and deferred tax. [Refer: Current tax expense (income); Deferred tax expense (income)]

Income Taxes - Income Tax Expense (Details)	12 Months Ended
Income Taxes - Income Tax Expense (Details)	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Taxes
Corporation tax rate	15.00%
Solidarity surcharge on corporation tax rate	5.50%
Trade tax rate	11.73%
Total group tax rate	27.55%	27.55%	27.55%	27.55%

Income Taxes - Reconciliation of expected tax expense (Details) - EUR (€) € in Thousands	1 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Taxes
Profit (Loss) before income tax		€ (253,390)	€ (410,327)	€ (188,381)
Income tax rate		27.55%	27.55%	27.55%	27.55%
Expected income taxes on this		€ 69,809	€ 113,045	€ 51,899
Effects deriving from differences to the expected tax rate		9	40	54
Taxes for prior years		495	(143)
Other non-deductible expenses and taxes		(59)	(66)	(238)
Changes in the realization of deferred tax assets		(76,356)	(67,465)	(22,371)
Other		6,428	(46,120)	(29,390)
Income tax benefits / (expense)		€ 326	€ (709)	€ (46)
Effective tax rate in %		0.10%	(0.20%)	0.00%
Equity settled share-based payments		€ 27,380	€ 53,350	€ 71,990
Equity settled share-based payments		22,817
Reconciliation effect of share-based payments		6,286
Fair value adjustments of Reorganization Warrants and RDO & 2022 PIPE Warrants		29,689
Reconciliation effect of fair value adjustments of warrants		8,179	3,590
Transaction costs deducted from equity		7,402
Reconciliation effect of transaction costs deducted from equity		2,039
Non-cash share listing expense			111,109
Income tax reconciliation effect of non-cash share listing expense			30,610
Other share-based payments			40,321
Income tax reconciliation effect of other share-based payments			11,108
Conversion	€ 34,084	€ (562)	96,193	€ 102,207
Azul
Income Taxes
Fair value adjustments of Reorganization Warrants and RDO & 2022 PIPE Warrants			13,030
Conversion			6,351
Income tax reconciliation effect of embedded derivative of the convertible loans			1,750
Qell Acquisition Corp
Income Taxes
Fair value adjustments of Reorganization Warrants and RDO & 2022 PIPE Warrants			4,454
Reconciliation effect of fair value adjustments of warrants			€ 1,227

Income Taxes - Deferred tax related to Assets and Liabilities (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Income Taxes
Deferred tax assets, Total value	€ 3,111	€ 4,173
Deferred tax liabilities, Total value	3,121	4,183
Deferred tax assets, Netting	(3,111)	(4,173)
Deferred tax liabilities, Netting	(3,111)	(4,173)
Recognition of deferred tax liabilities in the statement of financial position	10	10
Non-current assets
Income Taxes
Deferred tax assets, Total value	2,378	3,010
Deferred tax liabilities, Total value	2,913	3,099
Intangible assets
Income Taxes
Deferred tax assets, Total value	2,341	2,995
Property, plant and equipment
Income Taxes
Deferred tax assets, Total value	37	15
Deferred tax liabilities, Total value	2,903	3,088
Financial assets
Income Taxes
Deferred tax liabilities, Total value	10	11
Current assets
Income Taxes
Deferred tax assets, Total value	149	14
Deferred tax liabilities, Total value		286
Inventories
Income Taxes
Deferred tax assets, Total value	123	11
Receivables and other assets
Income Taxes
Deferred tax assets, Total value	26	3
Deferred tax liabilities, Total value		286
Non-current liabilities
Income Taxes
Deferred tax assets, Total value	446	645
Deferred tax liabilities, Total value		167
Provisions
Income Taxes
Deferred tax assets, Total value	10	24
Deferred tax liabilities, Total value		3
Liabilities
Income Taxes
Deferred tax assets, Total value	436	621
Deferred tax liabilities, Total value		163
Current liabilities
Income Taxes
Deferred tax assets, Total value	138	222
Deferred tax liabilities, Total value	208	631
Provisions
Income Taxes
Deferred tax assets, Total value		91
Deferred tax liabilities, Total value	47
Liabilities
Income Taxes
Deferred tax assets, Total value	138	131
Deferred tax liabilities, Total value	€ 161	631
Loss carry forwards
Income Taxes
Deferred tax assets, Total value		€ 282

Income Taxes - Tax attributes (gross) (Details) - EUR (€) € in Thousands	Dec. 31, 2022	Dec. 31, 2021
Income Taxes
Corporation tax loss carryforwards	€ 661,501	€ 388,980
Trade tax loss carryforwards	659,161	387,524
Interest carryforwards	15,348	€ 15,846
Tax loss carryforwards cannot be used	€ 56,891

Income Taxes - Deductible temporary differences and tax loss and interest carryforwards (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Income Taxes
Unrecognized deferred tax assets, Beginning balance	€ 124,043	€ 56,578
Addition	77,682	70,891
Deductions	(137)	(3,426)
Unrecognized deferred tax assets, Ending balance	201,588	124,043
Temporary differences
Income Taxes
Unrecognized deferred tax assets, Beginning balance	13,850	17,276
Addition	1,541
Deductions		(3,426)
Unrecognized deferred tax assets, Ending balance	15,391	13,850
Tax losses
Income Taxes
Unrecognized deferred tax assets, Beginning balance	106,264	35,639
Addition	75,705	70,625
Unrecognized deferred tax assets, Ending balance	181,969	106,264
Interest carry forward
Income Taxes
Unrecognized deferred tax assets, Beginning balance	3,929	3,663
Addition	436	266
Deductions	(137)
Unrecognized deferred tax assets, Ending balance	€ 4,228	€ 3,929

Loss per Share (Details) - EUR (€) € / shares in Units, € in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Loss per Share
Anti-dilutive warrants excluded from the diluted EPS calculation	1,800,000
Comprehensive loss attributed to equity shareholders	€ (253,003)	€ (410,830)	€ (188,435)
Weighted average number of ordinary shares outstanding, Basic	316,474,576	214,858,203	193,722,062
Weighted average number of ordinary shares outstanding, Diluted	316,474,576	214,858,203	193,722,062
Basic EPS	€ (0.80)	€ (1.91)	€ (0.97)
Diluted EPS	€ (0.80)	€ (1.91)	€ (0.97)

The amount of change in equity resulting from transactions and other events, other than those changes resulting from transactions with owners in their capacity as owners.

Intangible Assets (Details) - EUR (€) € in Thousands	12 Months Ended
Intangible Assets (Details) - EUR (€) € in Thousands	Dec. 31, 2022	Dec. 31, 2021
Disclosure of detailed information about intangible assets [line items]
Beginning balance	€ 1,394	€ 1,372
Ending balance	870	1,394
Software [Member]
Disclosure of detailed information about intangible assets [line items]
Beginning balance	1,304	1,276
Ending balance	750	1,304
Purchased concessions, rights and other intangible assets [Member]
Disclosure of detailed information about intangible assets [line items]
Beginning balance	90	96
Ending balance	120	90
Costs of acquisition or construction
Disclosure of detailed information about intangible assets [line items]
Beginning balance	4,106	2,509
Additions	200	1,586
Disposals		11
Ending balance	4,306	4,106
Costs of acquisition or construction \| Software [Member]
Disclosure of detailed information about intangible assets [line items]
Beginning balance	3,998	2,401
Additions	163	1,586
Disposals		11
Ending balance	4,161	3,998
Costs of acquisition or construction \| Purchased concessions, rights and other intangible assets [Member]
Disclosure of detailed information about intangible assets [line items]
Beginning balance	108	108
Additions	37
Ending balance	145	108
Accumulated amortization/write downs and depreciation
Disclosure of detailed information about intangible assets [line items]
Beginning balance	(2,712)	(1,137)
Amortization	(724)	(1,575)
Ending balance	(3,436)	(2,712)
Accumulated amortization/write downs and depreciation \| Software [Member]
Disclosure of detailed information about intangible assets [line items]
Beginning balance	(2,694)	(1,125)
Amortization	(717)	(1,569)
Ending balance	(3,411)	(2,694)
Accumulated amortization/write downs and depreciation \| Purchased concessions, rights and other intangible assets [Member]
Disclosure of detailed information about intangible assets [line items]
Beginning balance	(18)	(12)
Amortization	(7)	(6)
Ending balance	€ (25)	€ (18)

Property, Plant and Equipment (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Reconciliation of changes in property, plant and equipment
Property, plant and equipment at beginning of period	€ 30,610	€ 22,715
Property, plant and equipment at end of period	36,699	30,610
Impairment loss relating to assets that were obsolute and in process of being disposed of	52	0	€ 0
Costs of acquisition or construction
Reconciliation of changes in property, plant and equipment
Property, plant and equipment at beginning of period	41,661	28,863
Additions	13,174	12,826
Disposals	(201)	(1)
Transfer to intangible assets		(11)
Indexation impact	488	(26)
Foreign exchange	(6)	10
Property, plant and equipment at end of period	55,116	41,661
Accumulated amortization/write downs and depreciation
Reconciliation of changes in property, plant and equipment
Property, plant and equipment at beginning of period	(11,051)	(6,148)
Disposals	174
Foreign exchange	(3)	2
Depreciation	7,491	4,901
Impairment	(52)
Property, plant and equipment at end of period	(18,417)	(11,051)
Rights to land and buildings including leasehold improvements [Member]
Reconciliation of changes in property, plant and equipment
Property, plant and equipment at beginning of period	14,465	12,717
Property, plant and equipment at end of period	13,807	14,465
Rights to land and buildings including leasehold improvements [Member] \| Costs of acquisition or construction
Reconciliation of changes in property, plant and equipment
Property, plant and equipment at beginning of period	19,903	15,774
Additions	2,366	3,444
Transfers	130	711
Indexation impact	488	(26)
Property, plant and equipment at end of period	22,887	19,903
Rights to land and buildings including leasehold improvements [Member] \| Accumulated amortization/write downs and depreciation
Reconciliation of changes in property, plant and equipment
Property, plant and equipment at beginning of period	(5,438)	(3,057)
Depreciation	3,642	2,381
Property, plant and equipment at end of period	(9,080)	(5,438)
Vehicles [Member]
Reconciliation of changes in property, plant and equipment
Property, plant and equipment at beginning of period	84	120
Property, plant and equipment at end of period	87	84
Vehicles [Member] \| Costs of acquisition or construction
Reconciliation of changes in property, plant and equipment
Property, plant and equipment at beginning of period	166	160
Additions	67	6
Disposals	(94)
Property, plant and equipment at end of period	139	166
Vehicles [Member] \| Accumulated amortization/write downs and depreciation
Reconciliation of changes in property, plant and equipment
Property, plant and equipment at beginning of period	(82)	(40)
Disposals	94
Depreciation	64	42
Property, plant and equipment at end of period	(52)	(82)
Technical equipment and machinery [Member]
Reconciliation of changes in property, plant and equipment
Property, plant and equipment at beginning of period	9,069	5,555
Property, plant and equipment at end of period	15,643	9,069
Technical equipment and machinery [Member] \| Costs of acquisition or construction
Reconciliation of changes in property, plant and equipment
Property, plant and equipment at beginning of period	10,738	6,195
Additions	6,328	2,532
Disposals	(12)
Transfers	2,466	2,009
Foreign exchange		2
Property, plant and equipment at end of period	19,520	10,738
Technical equipment and machinery [Member] \| Accumulated amortization/write downs and depreciation
Reconciliation of changes in property, plant and equipment
Property, plant and equipment at beginning of period	(1,669)	(640)
Disposals	12	1
Depreciation	2,168	1,028
Impairment	(52)
Property, plant and equipment at end of period	(3,877)	(1,669)
Office and other equipment [Member]
Reconciliation of changes in property, plant and equipment
Property, plant and equipment at beginning of period	4,381	3,179
Property, plant and equipment at end of period	4,275	4,381
Office and other equipment [Member] \| Costs of acquisition or construction
Reconciliation of changes in property, plant and equipment
Property, plant and equipment at beginning of period	8,243	5,590
Additions	1,519	2,644
Disposals	(95)	(1)
Transfers	22	2
Foreign exchange	(6)	8
Property, plant and equipment at end of period	9,683	8,243
Office and other equipment [Member] \| Accumulated amortization/write downs and depreciation
Reconciliation of changes in property, plant and equipment
Property, plant and equipment at beginning of period	(3,862)	(2,411)
Disposals	68	1
Foreign exchange	(3)	2
Depreciation	1,617	1,450
Property, plant and equipment at end of period	(5,408)	(3,862)
Assets under construction
Reconciliation of changes in property, plant and equipment
Property, plant and equipment at beginning of period	2,611	1,144
Property, plant and equipment at end of period	2,887	2,611
Assets under construction \| Costs of acquisition or construction
Reconciliation of changes in property, plant and equipment
Property, plant and equipment at beginning of period	2,611	1,144
Additions	2,894	4,200
Transfers	(2,618)	(2,722)
Transfer to intangible assets		(11)
Property, plant and equipment at end of period	2,887	2,611
Right-of-use assets
Reconciliation of changes in property, plant and equipment
Property, plant and equipment under security pledges	€ 10,499	€ 11,525

Property, Plant and Equipment - Property, plant and equipment is distributed among geographical areas (Details) - EUR (€) € in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of detailed information about property, plant and equipment
Right-of-use assets	€ 10,499	€ 11,525	€ 10,941
Total	36,699	30,610	€ 22,715
Germany
Disclosure of detailed information about property, plant and equipment
Property, plant and equipment	26,063	18,933
Right-of-use assets	10,033	11,525
United Kingdom
Disclosure of detailed information about property, plant and equipment
Property, plant and equipment	97	100
United States
Disclosure of detailed information about property, plant and equipment
Property, plant and equipment	23	38
Switzerland
Disclosure of detailed information about property, plant and equipment
Property, plant and equipment	12	€ 14
Spain
Disclosure of detailed information about property, plant and equipment
Property, plant and equipment	5
Right-of-use assets	€ 466

Leases - Right-of-use assets (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of quantitative information about right-of-use assets
Beginning balance	€ 11,525	€ 10,941
Additions to right-of-use assets	1,612	2,568
Transfer	(144)	(17)
Disposal of right-of-use assets	(4)
Depreciation	(2,977)	(1,941)	€ (1,631)
Indexation impact	488	(26)
Ending balance	10,499	11,525	10,941
Rights to land and buildings including leasehold improvements [Member]
Disclosure of quantitative information about right-of-use assets
Beginning balance	10,910	10,375
Additions to right-of-use assets	1,526	2,369
Depreciation	(2,889)	(1,808)
Indexation impact	488	(26)
Ending balance	10,034	10,910	10,375
Vehicles [Member]
Disclosure of quantitative information about right-of-use assets
Beginning balance	43	77
Additions to right-of-use assets	63
Disposal of right-of-use assets	(3)
Depreciation	(49)	(34)
Ending balance	54	43	77
Property, plant and equipment
Disclosure of quantitative information about right-of-use assets
Beginning balance	428	461
Additions to right-of-use assets	23	29
Transfer		(17)
Disposal of right-of-use assets	(1)
Depreciation	(39)	(45)
Ending balance	411	428	461
Office and other equipment [Member]
Disclosure of quantitative information about right-of-use assets
Beginning balance	144	28
Additions to right-of-use assets		170
Transfer	€ (144)
Depreciation		(54)
Ending balance		€ 144	€ 28

Leases - Lease liabilities (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Leases
Beginning balance	€ 11,823	€ 11,118
Additions	1,385	2,512
Accrued interest	(7)
Interest	443	437	€ 450
Payments	(3,163)	(2,218)
Indexation impact	488	(26)
Ending balance	€ 10,969	€ 11,823	€ 11,118

Leases - Current and non-current portion of lease liabilities (Details) - EUR (€) € in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Leases
Current	€ 2,616	€ 1,962
Non-current	8,353	9,861
Total lease liabilities	€ 10,969	€ 11,823	€ 11,118

Leases - Related expense (Details) - EUR (€) € in Thousands	12 Months Ended
Leases - Related expense (Details) - EUR (€) € in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Leases
Depreciation of right of-use-assets	€ 2,977	€ 1,941	€ 1,631
Interest expense on lease liabilities	443	437	450
Short-term lease expenses	6	488	108
Lease expenses for low-value assets	137	220	80
Total amount recognized in expense	€ 3,563	€ 3,086	€ 2,269

Leases - Composition of lease payments (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Leases
Fixed lease payments	€ 1,212	€ 204
Variable lease payments	1,951	2,014
Total amount of lease payments	€ 3,163	€ 2,218

Leases - Total cash outflow (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Leases
Principal paid	€ 2,720	€ 1,781	€ 1,439
Interest paid	443	437	450
Short term and low value leases	143	708	188
Total amount paid	€ 3,306	€ 2,926	€ 2,077

Investment in a Joint Venture / Associate (Details) € in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022 EUR (€) shares	Dec. 31, 2022 USD ($) shares	Dec. 31, 2021 EUR (€)	Sep. 27, 2021 EUR (€)	Sep. 27, 2021 USD ($)	Jul. 27, 2021 USD ($)	Jul. 16, 2021 EUR (€)	Jul. 15, 2021	Mar. 19, 2021 EUR (€)	Mar. 19, 2021 USD ($)	Mar. 10, 2021 EUR (€)	Mar. 10, 2021 USD ($)
Investment in a Joint Venture / Associate
Percentage of shares acquired	31.40%	31.40%
Percentage of outstanding capital diluted	27.70%
Shareholder voting rights	31.40%	31.40%
Gain on dilution \| €	€ 1,179
Share capital
Investment in a Joint Venture / Associate
Share buyback common stock	273,227
Series B preferred stock
Investment in a Joint Venture / Associate
Number of shares issued	1,092,908	1,092,908
Zenlabs Energy Inc
Investment in a Joint Venture / Associate
Percentage of shares acquired								9.10%			25.70%	25.70%
Purchase price			€ 8,502	€ 7,400	$ 8,716	$ 8,716	€ 7,400				€ 8,502	$ 10,054
Conversion of outstanding promissory notes at a fair value included in consideration			€ 2,222						€ 2,222	$ 2,629
Promissory notes held included in conversion									€ 1,051	$ 1,250
Total fair value of identifiable net assets acquired	€ 8,344	$ 9,843
Goodwill	7,558	8,927
Identifiable net assets acquired	2,248	2,652
Fair value step-up brand and technology portfolio	8,688	10,250
Deferred taxation	€ 2,592	$ 3,059
Shareholder voting rights								9.10%			25.70%	25.70%

Investment in a Joint Venture / Associate - Valuation of investment in Zenlabs (Details) € in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022 EUR (€)	Dec. 31, 2021 EUR (€)	Sep. 27, 2021 EUR (€)	Sep. 27, 2021 USD ($)	Jul. 27, 2021 USD ($)	Jul. 16, 2021 EUR (€)	Mar. 19, 2021 EUR (€)	Mar. 19, 2021 USD ($)	Mar. 10, 2021 EUR (€)	Mar. 10, 2021 USD ($)
Investment in a Joint Venture / Associate
Ending Balance	€ 13,410	€ 15,054
Beginning Balance	15,054
Zenlabs Energy Inc
Investment in a Joint Venture / Associate
Ending Balance	13,410	15,054
Initial recognition		8,502	€ 7,400	$ 8,716	$ 8,716	€ 7,400			€ 8,502	$ 10,054
Conversion of promissory notes (July 2021)		2,222					€ 2,222	$ 2,629
Capital increases (July and September 2021)		5,178
Gain on dilution	1,179
Share of loss in a joint venture/ associate	(2,823)	€ (848)
Beginning Balance	€ 15,054

Investment in a Joint Venture / Associate - Financial information for Zenlabs (Details) - EUR (€)
€ in Thousands

10 Months Ended

12 Months Ended

Dec. 31, 2021

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

Dec. 31, 2023

Dec. 31, 2019

Reconciliation to the Group's interest in at equity-accounted investee:

Revenue

€ 47

€ 97

Net loss for the year

€ (253,064)

(411,036)

(188,427)

Current assets

€ 372,475

220,979

372,475

Non-current assets

58,950

67,852

58,950

Non-current liabilities

(13,150)

(12,312)

(13,150)

Current liabilities

(75,764)

(73,016)

(75,764)

Shareholders' equity

342,511

€ 203,503

€ 342,511

€ 57,722

€ (24,087)

Group's effective interest in the joint venture / associate

27.70%

34.80%

Group's share in shareholders' equity

7,762

€ 7,780

€ 7,762

Goodwill

7,558

8,370

7,558

Currency translation difference

(266)

(2,740)

(266)

Investment in a joint venture / associate

15,054

13,410

15,054

Zenlabs Energy Inc

Loss from continued operations

Revenue

806

1,927

(3,482)

(7,777)

Net loss for the year

(2,907)

(7,369)

Current assets

13,487

€ 6,724

Non-current assets

^[1]

25,438

24,255

Preferred stock reclassification

21,619

20,283

Non-current liabilities

(31,482)

(28,200)

Current liabilities

(933)

(756)

Shareholders' equity

€ 28,129

€ 22,306

Reconciliation to the Group's interest in at equity-accounted investee:

Group's effective interest in the joint venture / associate

27.70%

Investment in a joint venture / associate

€ 15,054

€ 13,410

€ 15,054

[1]

As the purchase price allocation is performed at each acquisition date (as of March 10, July 16 and September 27, 2021), differences occur due to the different ownership rates used in purchase price allocation and equity accounting. These differences are adjusted in Ionblox’s summary consolidated financial statements.

Other Financial Assets - Other financial assets (Details) - EUR (€) € in Thousands	Dec. 31, 2022	Dec. 31, 2021
Other Financial Assets
Security deposits	€ 3,386	€ 3,779
Total non-current financial assets	3,386	3,779
Fixed term deposit	19,987	119,664
Money market funds		99,919
Security deposits	2,594	42
Total current other financial assets	22,581	219,625
Total other financial assets	€ 25,967	€ 223,404

Other Financial Assets - Fixed term deposit (Details) - EUR (€) € in Thousands	1 Months Ended	12 Months Ended
	Oct. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Nov. 30, 2021
Disclosure of financial assets [line items]
Payment of short-term deposits		€ 120,000	€ 220,006	€ 50,000
Total proceeds		99,853	0
Fixed term deposit
Disclosure of financial assets [line items]
Notional amount	€ 120,000	20,000
Amount of reduction in principal	336
Negative interest	80
Expected credit loss	257	30
Amount of increase in principal		17
Fixed-term deposit one
Disclosure of financial assets [line items]
Notional amount	€ 40,000
Term of promissory notes (in years)	6 months
Fixed-term deposit two
Disclosure of financial assets [line items]
Term of promissory notes (in years)	9 months
Fixed-term deposit three
Disclosure of financial assets [line items]
Term of promissory notes (in years)	12 months
Money Market Funds
Disclosure of financial assets [line items]
Notional amount					€ 100,006
Security deposits
Disclosure of financial assets [line items]
Amount pledged as collateral for customs		50	400
Amount pledged as collateral for furniture lease		182	253
Amount pledged as collateral for use of credit card facilities		427	196
Amount pledged as collateral for facility leases		2,941	2,942
Amount of deposits pledged as collateral for deposits to suppliers.		€ 2,530	€ 30

Non-Financial Assets (Details) - EUR (€) € in Thousands	Dec. 31, 2022	Dec. 31, 2021
Non-Financial Assets
Advance payments	€ 4,069	€ 8,113
Prepaid expenses	9,418
Total non-current non-financial assets	13,487	8,113
Value added tax claims	1,696	12,602
Prepaid expenses	16,241	9,924
Miscellaneous other current non-financial assets	711	468
Total current non-financial assets	18,648	22,994
Total non-financial assets	€ 32,135	€ 31,107

Non-Financial Assets - Prepaid expenses (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Non-Financial Assets
Prepayments for acquisition of fixed assets	€ 4,069	€ 8,113
Prepayments for multi-year supplier contracts	9,418	0
Insurance claim	374	372
Prepaid expenses	€ 16,241	€ 9,924

Cash and Cash Equivalents (Details) - EUR (€) € in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash and Cash Equivalents
Petty cash		€ 2
Short-term deposits, classified as cash equivalents	€ 49,385
Cash at banks	130,196	129,854
Total cash and cash equivalents	€ 179,581	€ 129,856	€ 102,144	€ 59,571

Shareholders' Equity (Details) - shares		1 Months Ended	12 Months Ended
Shareholders' Equity (Details) - shares	Mar. 26, 2021	Mar. 31, 2020	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Sep. 14, 2021
Shareholders' Equity
Number of shares issued during period					23,261,694
Issued shares - convertible loans	20,533,259	19,156,185	274,272
Share buy-back - treasury shares					205,704
After reorganization
Shareholders' Equity
Number of shares outstanding, beginning balance			285,657,980	197,427,271	155,009,392
Outstanding as adjusted, beginning balance			284,403,289	197,221,567
Number of shares issued during period			91,524,935	45,000,000	23,261,694
Outstanding as adjusted, ending balance			393,283,886	284,403,289	197,221,567
Issued shares - convertible loans				20,533,259	19,156,185
Share buy-back - treasury shares					(205,704)
Issued shares for share-based payments exercised			10,857,264
Warrants exercised			10
Issued shares - ELOC			5,618,697
Conversion of Class B Shares			525,000
Repurchase of Class B Shares			50,000
Reorganization as of September 14, 2021				22,697,450
Treasury shares			(950,000)	(375,000)
Treasury shares (due to consolidation)				(879,691)
Number of shares outstanding, ending balance			394,233,886	285,657,980	197,427,271
Class A shares
Shareholders' Equity
Number of shares outstanding, beginning balance			261,244,915	173,014,206	130,596,327
Outstanding as adjusted, beginning balance			259,990,224	172,808,502
Number of shares issued during period			91,524,935	45,000,000	23,261,694
Outstanding as adjusted, ending balance			369,820,821	259,990,224	172,808,502
Issued shares - convertible loans				20,533,259	19,156,185
Share buy-back - treasury shares					(205,704)
Issued shares for share-based payments exercised			10,857,264
Warrants exercised			10
Issued shares - ELOC			5,618,697
Conversion of Class B Shares			525,000
Repurchase of Class B Shares			50,000
Reorganization as of September 14, 2021				22,697,450
Treasury shares				(375,000)
Treasury shares (due to consolidation)				(879,691)
Number of shares outstanding, ending balance			369,820,821	261,244,915	173,014,206
Exchange of shares			5,356,000
Class B shares
Shareholders' Equity
Number of shares outstanding, beginning balance			24,413,065	24,413,065	24,413,065
Outstanding as adjusted, beginning balance			24,413,065	24,413,065
Outstanding as adjusted, ending balance			23,463,065	24,413,065	24,413,065
Conversion of Class B Shares			(525,000)	0
Treasury shares			(425,000)
Number of shares outstanding, ending balance			23,888,065	24,413,065	24,413,065
Exchange of shares						24,413,065
Class C shares
Shareholders' Equity
Conversion of Class B Shares			525,000
Treasury shares			(525,000)
Number of shares outstanding, ending balance			525,000
Exchange of shares			0

Shareholders' Equity - Additional information (Details) € / shares in Units, € in Thousands			1 Months Ended	6 Months Ended	12 Months Ended
	Sep. 14, 2021 EUR (€) Vote € / shares shares	Mar. 26, 2021 EUR (€) shares	Mar. 31, 2020 EUR (€) shares	Dec. 31, 2022 EUR (€) € / shares shares	Dec. 31, 2022 EUR (€) € / shares shares	Dec. 31, 2021 EUR (€) shares	Dec. 31, 2020 EUR (€) shares	Dec. 31, 2019 EUR (€) shares
Shareholders' Equity
Share split	0.0004				0.0004
Number of shares transferred to Class B shares \| shares	8,545
Nominal value per share \| € / shares				€ 0.12	€ 0.12
Share capital				€ 53,104	€ 53,104	€ 40,138
Number of Class B shares converted to Class C share \| shares	1
Number of Class B shares converted to Class A share \| shares	1
Witten notice period (in days)	3 days
Consideration value for transfer of shares	€ 0
Number of shares issued during period \| shares							23,261,694
Increase in share capital					€ 381,208		€ 96,810
Convertible loans, shares \| shares		20,533,259	19,156,185		274,272
Conversion			€ 34,084		€ (562)	96,193	102,207
Transaction costs	€ 2,227				29,029		503
Amount of convertible loan		€ 85,900
Transfer of shares							€ 763
Share buyback, shares \| shares							205,704
Share capital increased through reorganization					164,868	164,868
Proceeds From Reorganization						83,393
Share capital				203,503	€ 203,503	342,511	€ 57,722	€ (24,087)
Proceeds from the 2021 PIPE capital increase						€ 381,208
Shares issued due to execution of vested share based payments \| shares					10,857,264	0
Subscribed capital					€ 1,303	€ 0
Other capital reserves				277,654	277,654	240,430
Share premium				€ 843,074	843,074	€ 779,141
Shares transferred \| shares	8,545
Equity settled share-based payments					€ 22,817
Number of shares authorized for issue \| shares				196,385,439	196,385,439	152,054,830
Success Fee
Shareholders' Equity
Convertible loans, shares \| shares					293,230
After reorganization
Shareholders' Equity
Number of shares outstanding \| shares				394,233,886	394,233,886	285,657,980	197,427,271	155,009,392
Number of shares issued during period \| shares					91,524,935	45,000,000	23,261,694
Convertible loans, shares \| shares						20,533,259	19,156,185
Share buyback, shares \| shares							(205,704)
Shares converted \| shares					525,000
Shares held under consolidation \| shares						(879,691)
Class A shares
Shareholders' Equity
Exchange of shares \| shares				5,356,000	5,356,000
Nominal value per share \| € / shares	€ 0.12
Number of votes \| Vote	12
Number of shares outstanding \| shares				369,820,821	369,820,821	261,244,915	173,014,206	130,596,327
Number of shares issued during period \| shares					91,524,935	45,000,000	23,261,694
Convertible loans, shares \| shares						20,533,259	19,156,185
Share buyback, shares \| shares							(205,704)
Proceeds from the 2021 PIPE capital increase				€ 12,498
Shares converted \| shares					525,000
Shares held under consolidation \| shares						(879,691)
Class B shares
Shareholders' Equity
Exchange of shares \| shares	24,413,065
Nominal value per share \| € / shares	€ 0.36
Number of votes \| Vote	36
Number of shares outstanding \| shares				23,888,065	23,888,065	24,413,065	24,413,065	24,413,065
Transfer of shares					€ 6
Shares converted \| shares					(525,000)	0
Class C shares
Shareholders' Equity
Number of shares transferred to Class B shares \| shares					525,000	0
Exchange of shares \| shares				0	0
Nominal value per share \| € / shares	€ 0.24
Number of votes \| Vote	24
Number of shares outstanding \| shares				525,000	525,000
Percentage of maximum profits on nominal value per share (in percent)	0.10%
Shares converted \| shares					525,000
Shares transferred \| shares					525,000	0
Subscribed capital
Shareholders' Equity
Increase in share capital					€ 5,400		€ 2,791
Conversion		2,464	2,299		1,303	€ 2,464	2,299
Share capital increased through reorganization					2,724	2,724
Share capital				€ 53,104	53,104	40,138	29,550	€ 24,460
Subscribed capital \| Success Fee
Shareholders' Equity
Conversion					35
Subscribed capital \| After reorganization
Shareholders' Equity
Conversion					33
Subscribed capital \| Class B shares
Shareholders' Equity
Transfer of shares					6
Share premium
Shareholders' Equity
Increase in share capital					375,808		94,019
Conversion		127,813	65,824		207	127,813	65,824
Transfer of shares						(45)	738
Share capital increased through reorganization					51,116	51,116
Share capital				843,074	843,074	779,141	224,359	65,254
Share premium				207	207	0
Share premium \| Success Fee
Shareholders' Equity
Conversion					1
Share premium \| After reorganization
Shareholders' Equity
Conversion					2,023
Share premium \| Class B shares
Shareholders' Equity
Conversion					126
Transfer of shares					108
Other capital reserves
Shareholders' Equity
Conversion		€ 34,084	€ 34,084		(2,072)	(34,084)	34,084
Share capital increased through reorganization					111,109	111,109
Share capital				277,654	277,654	240,430	110,055	€ 3,981
Other capital reserves				1,227	1,227	0
Equity settled share-based payments					845	0
Treasury shares
Shareholders' Equity
Transfer of shares						45	25
Share capital increased through reorganization						(81)
Share capital				€ (279)	(279)	€ (151)	€ (25)
Treasury shares \| Success Fee
Shareholders' Equity
Conversion					81
Treasury shares \| Class B shares
Shareholders' Equity
Conversion					(126)
Transfer of shares					€ (108)

Shareholders' Equity - Share Purchase Agreement ("ELOC") (Details) € in Thousands, $ in Millions			6 Months Ended	12 Months Ended
	Jun. 03, 2022 EUR (€) shares	Jun. 03, 2022 USD ($) shares	Dec. 31, 2022 EUR (€) shares	Dec. 31, 2022 EUR (€) shares	Dec. 31, 2021 EUR (€)
Shareholders' Equity
Fair value loss was recognized in financial expenses				€ 0	€ 696
Gross proceeds					€ 381,208
Class A shares
Shareholders' Equity
Commitment Shares paid as consideration	€ 696
Number of shares issued \| shares			5,356,000	5,356,000
Gross proceeds			€ 12,498
Class A shares \| Subscribed capital
Shareholders' Equity
Commitment Shares paid as consideration	31
Equity issuance cost			643
Class A shares \| Share premium
Shareholders' Equity
Commitment Shares paid as consideration	€ 665
Equity issuance cost			€ 11,855
Class A shares \| Agreement with Tumim Stone
Shareholders' Equity
Number of commitment shares \| shares	262,697,000	262,697,000
Maximum amount committed to purchase subject to certain limitations \| $		$ 75

Shareholders' Equity - Registered Direct Offering ("RDO") (Details) - EUR (€) € in Thousands		1 Months Ended	12 Months Ended
	Nov. 18, 2022	Nov. 30, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Shareholders' Equity
Shares issued					23,261,694
Class A shares
Shareholders' Equity
Shares issued			91,524,935	45,000,000	23,261,694
Class A shares \| RDO Securities Purchase Agreement
Shareholders' Equity
Shares issued	22,499,997
Warrants to purchase class A shares	11,249,997
Aggregate gross proceeds	€ 28,217
Class A shares \| RDO Warrants
Shareholders' Equity
Shares issued		69,024,938
Warrants to purchase class A shares		34,512,464
Aggregate gross proceeds		€ 85,754
Amount of liability to issue warrants		€ 26,009	€ 8,541

Shareholders' Equity - 2022 Private Placement ("2022 PIPE") (Details) € in Thousands	1 Months Ended	12 Months Ended
	Nov. 30, 2022 EUR (€) shares	Dec. 31, 2022 EUR (€) shares	Dec. 31, 2021 EUR (€) shares	Dec. 31, 2020 EUR (€) shares	Dec. 31, 2022 $ / shares	Nov. 30, 2022 $ / shares
Shareholders' Equity
Shares issued \| shares				23,261,694
Price per share \| $ / shares					$ 1.14
Share-based payment awards \| €		€ 27,380	€ 53,350	€ 71,990
Class A shares
Shareholders' Equity
Shares issued \| shares		91,524,935	45,000,000	23,261,694
Class A shares \| 2022 PIPE Securities Purchase Agreement
Shareholders' Equity
Shares issued \| shares	69,024,938
Warrants to purchase class A shares \| shares	34,512,464
Price per share \| $ / shares						$ 1.30
Aggregate cash proceeds \| €	€ 85,754
Non-cash contribution \| €	975
Share-based payment awards \| €	€ 11,916
Warrants to purchase shares of common stock \| shares	0.5
Amount of liability to issue warrants \| €	€ 26,009	€ 8,541

Shareholders' Equity - Class B share transactions (Details) - EUR (€) € in Thousands	Aug. 31, 2022	Jul. 31, 2022
Class A shares
Shareholders' Equity
Consideration		€ 0
Shares that can be transferred		375,000
Shares transferred	375,000
Class B shares
Shareholders' Equity
Shares that can be returned		375,000
Shares returned	375,000

Shareholders' Equity - Treasury Shares (Details) - shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Shareholders' Equity
Beginning balance	1,254,691	205,704
Repurchase of Class B shares for Class A shares held in treasury	879,691
Repurchase of Class B shares for newly issued Class A shares	50,000
Conversion of Class B shares	525,000
Treasury shares sold by Stichting JSOP	(879,691)
Treasury shares of Lilium GmbH not exchanged into Lilium N.V. shares		(205,704)
Treasury shares acquired upon Reorganization		375,000
Treasury shares from consolidation of Stichting JSOP		879,691
Ending balance	950,000	1,254,691
Class A shares
Shareholders' Equity
Beginning balance	1,254,691	205,704
Repurchase of Class B shares for Class A shares held in treasury	(375,000)
Repurchase of Class B shares for newly issued Class A shares	50,000
Conversion of Class B shares	525,000
Treasury shares sold by Stichting JSOP	(879,691)
Treasury shares of Lilium GmbH not exchanged into Lilium N.V. shares		(205,704)
Treasury shares acquired upon Reorganization		375,000
Treasury shares from consolidation of Stichting JSOP		879,691
Ending balance		1,254,691
Class B shares
Shareholders' Equity
Repurchase of Class B shares for Class A shares held in treasury	375,000
Repurchase of Class B shares for newly issued Class A shares	50,000
Conversion of Class B shares	525,000
Ending balance	425,000
Class C shares
Shareholders' Equity
Conversion of Class B shares	525,000
Ending balance	525,000

Shareholders' Equity - Treasury Shares - Additional Information (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Shareholders' Equity
Shares repurchased against transfer of shares held in treasury	879,691
Consideration transferred	€ 983
Shares repurchased, issued and transferred	50,000
Increase in share premium	€ 877
Shares converted	525,000
Shares buyback	950,000	1,254,691	205,704
Share premium	€ 877
Class A shares
Shareholders' Equity
Shares repurchased against transfer of shares held in treasury	(375,000)
Shares repurchased, issued and transferred	50,000
Increase in treasury reserve for newly issued shares	€ 18
Increase in share premium	108
Increase in subscribed capital	€ 6
Shares converted	525,000
Shares buyback		1,254,691	205,704
Share premium	€ 108
Class B shares
Shareholders' Equity
Shares repurchased against transfer of shares held in treasury	375,000
Consideration transferred	€ 0
Increase in treasury share reserve due to difference in nominal capital	€ 90
Shares repurchased, issued and transferred	50,000
Shares converted	525,000
Shares buyback	425,000
Class C shares
Shareholders' Equity
Consideration transferred	€ 0
Increase in share premium	€ 126
Shares converted	525,000
Shares buyback	525,000
Increase in treasury share reserve due to conversion and buyback	126,000
Share premium	€ 126

Share-based Payments - Other plans (Details) - EUR (€) € in Thousands		1 Months Ended	12 Months Ended
	Jun. 01, 2022	Nov. 30, 2022	Dec. 31, 2022	Dec. 31, 2021
Share-based Payments
Total expense	€ 1,553		€ 24,261	€ 48,349
General population and executives - standard ESOP
Share-based Payments
Total expense			7,942	29,286
General population - Restricted Stock Units ("RSU")
Share-based Payments
Total expense			4,977	77
Executives - ESOP modified
Share-based Payments
Total expense			1,101	2,135
Executives - Restricted Stock Units ("RSU")
Share-based Payments
Total expense			3,259	1,178
Executives - Performance-based stock options
Share-based Payments
Total expense			(375)	2,296
Executives - Time-based stock options
Share-based Payments
Total expense			2,200	3,505
Executives - Joint Stock Ownership plan (JSOP) and bonus
Share-based Payments
Total expense			(4,435)	€ 5,438
Share-based payment - Vendors
Share-based Payments
Total expense		€ 4,558	€ 9,726

Share-based Payments - expense recognized for participant services (Details)										1 Months Ended		12 Months Ended
	Jun. 01, 2022 EUR (€) USD ($)	Mar. 31, 2022 € / shares	Dec. 31, 2021 EUR (€) USD ($) Options € / shares	Sep. 15, 2021 € / shares	Aug. 31, 2021 € / shares	Jul. 31, 2021 € / shares	Jun. 30, 2021 € / shares	Mar. 31, 2021 € / shares	Dec. 31, 2020 Options € / shares	Dec. 31, 2022 EUR (€) USD ($) Options € / shares shares	Nov. 30, 2022 EUR (€) item	Dec. 31, 2022 EUR (€) Options	Dec. 31, 2022 EUR (€) Options shares	Dec. 31, 2022 EUR (€) Options	Dec. 31, 2022 EUR (€) Options	Dec. 31, 2022 EUR (€) € / shares Options	Dec. 31, 2022 EUR (€) USD ($) Options	Dec. 31, 2022 EUR (€) Y Options	Dec. 31, 2022 EUR (€) Options	Dec. 31, 2021 EUR (€) € / shares USD ($) Y Options shares	Dec. 31, 2020 EUR (€) Options € / shares
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expense arising from equity-settled share-based payments \| €														€ 7,942,000						€ 29,286,000
Expense recognized \| €	€ 1,553,000													€ 24,261,000						€ 48,349,000
Weighted average remaining contractual life												9 years 6 months								9 years 10 months 24 days
Fair value option per share		€ 3.59	€ 6.12	€ 7.89	€ 7.71	€ 7.36	€ 7.05	€ 7.13	€ 6.05
Number of options exercisable			0							7,043,620		7,043,620	7,043,620	7,043,620	7,043,620	7,043,620	7,043,620	7,043,620	7,043,620	0
Options originally granted that were forfeited \| $	4,341,000
Share-based payment awards \| €														€ 27,380,000						€ 53,350,000	€ 71,990,000
Other capital reserves
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share-based payment awards \| €														27,380,000						€ 53,350,000	€ 71,990,000
Equity-settled options
Disclosure of terms and conditions of share-based payment arrangement [line items]
Weighted average remaining contractual life												10 years 4 months 13 days
Cash-settled options
Disclosure of terms and conditions of share-based payment arrangement [line items]
Weighted average remaining contractual life												10 years 1 month 17 days
Key management
Disclosure of terms and conditions of share-based payment arrangement [line items]
Outstanding at January 1 \| $																	19,204,000
Exercised during the period \| $																	1,872,000			0
Forfeited during the year \| $																	(6,553,000)			0
Outstanding at December 31 \| $			19,204,000							12,437,000							12,437,000			19,204,000
General population and executives - standard ESOP
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expense recognized \| €														7,942,000						€ 29,286,000
Options granted \| Options																				0
Exercised during the period																	2.52		979,661	3,300,960
Outstanding at December 31										€ 0						€ 0
Lock-up period for options become exercisable																				180 days
General population and executives - standard ESOP \| Equity-settled options
Disclosure of terms and conditions of share-based payment arrangement [line items]
Outstanding at January 1 \| Options																			19,573,307	13,962,159
Options granted																	5,714			4,019,799
Exercised during the period \| Options																			10,318,085
Forfeited during the year \| Options																			(1,188,512)	(757,105)
Transferred from cash-settled \| shares													(22,856)							2,348,454
Outstanding at December 31 \| Options			19,573,307						13,962,159	8,049,568									8,049,568	19,573,307	13,962,159
Outstanding at January 1																0.00				€ 0.00
Granted during the year																0.00				0.00
Exercised during the period																0.00
Forfeited during the year																€ 0.00				€ 0.00
Transferred from cash-settled																0.00				0.00
Outstanding at December 31			€ 0.00						€ 0.00	€ 0.00						€ 0.00				€ 0.00	€ 0.00
General population and executives - standard ESOP \| Cash-settled options
Disclosure of terms and conditions of share-based payment arrangement [line items]
Outstanding at January 1 \| Options																				2,348,454
Exercised during the period \| Options																			17,142
Transferred from cash-settled \| shares													22,856							(2,348,454)
Outstanding at December 31 \| Options									2,348,454	5,714									5,714		2,348,454
Exercised during the period																€ 0.00
Transferred from cash-settled																0.00				0.00
Outstanding at December 31										€ 0.00						€ 0.00
General population - Restricted Stock Units ("RSU")
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expense arising from equity-settled share-based payments \| €														4,977,000						€ 77,000
Expense recognized \| €														€ 4,977,000						€ 77,000
Options granted														4,886,000						162,000
Outstanding at January 1																€ 0.12
Assigned during the year																0.12				0.12
Forfeited during the year																€ 0.12
Outstanding at December 31			€ 0.12							€ 0.12						€ 0.12				€ 0.12
Weighted average remaining contractual life												6 months 29 days								1 year 8 months 12 days
Number of options exercisable \| Options			0							0		0	0	0	0	0	0	0	0	0
Executives - ESOP modified
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expense arising from equity-settled share-based payments \| €														€ 1,101,000						€ 2,135,000
Expense recognized \| €														1,101,000						€ 2,135,000
Outstanding at January 1 \| Options																			1,888,477
Options granted \| Options																			531,449	0
Exercised during the period \| Options																			430,431	101,018
Forfeited during the year \| Options																			(1,160,457)
Outstanding at December 31 \| Options			1,888,477							728,020									728,020	1,888,477
Outstanding at January 1																€ 7.90
Granted during the year																				€ 7.90
Forfeited during the year																8.50
Outstanding at December 31			€ 7.90							€ 6.94						6.94				€ 7.90
Weighted average remaining contractual life												11 years 4 months 24 days								12 years 4 months 24 days
Executives - Restricted Stock Units ("RSU")
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expense arising from equity-settled share-based payments \| €														3,259,000						€ 1,178,000
Expense recognized \| €														3,259,000						€ 1,178,000
Weighted average remaining contractual life												1 year 6 months								2 years 8 months 12 days
Executives - Restricted Stock Units ("RSU") \| Restricted Stock Units
Disclosure of terms and conditions of share-based payment arrangement [line items]
Outstanding at January 1 \| Options																			1,050,913
Options granted \| Options																			1,699,411	1,050,913
Forfeited during the year \| Options																			(291,199)
Outstanding at December 31 \| Options			1,050,913							2,324,725									2,324,725	1,050,913
Outstanding at January 1																€ 0.12
Granted during the year																				€ 0.12
Assigned during the year																0.12
Exercised during the period																€ 0.12
Forfeited during the year																0.12
Outstanding at December 31			€ 0.12							€ 0.12						0.12				€ 0.12
Executives - Performance-based stock options
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expense arising from equity-settled share-based payments \| €														(375,000)						€ 2,296,000
Expense recognized \| €														(375,000)						€ 2,296,000
Outstanding at January 1 \| Options																			7,036,501
Options granted \| Options																			1,272,059	7,036,501
Forfeited during the year \| Options																			(4,711,839)
Outstanding at December 31 \| Options			7,036,501							3,596,721									3,596,721	7,036,501
Outstanding at January 1																8.15
Granted during the year																9.45				€ 8.15
Forfeited during the year																8.66
Outstanding at December 31			€ 8.15							€ 7.94						7.94				€ 8.15
Expected volatility (%)																				121.80%
Expected exercise term \| Y																		3.4		4
Executives - Performance-based stock options \| Minimum
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expected volatility (%)															108.86%
Risk free rate															(0.69%)					0.69%
Expected exercise term \| Y																		3.3
Executives - Performance-based stock options \| Maximum
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expected volatility (%)															121.91%
Risk free rate															2.01%					0.66%
Executives - Performance-based stock options \| Options under Former Arrangement, for which Service Condition already Fulfilled [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Options granted \| Options																			681,000
Executives - Performance-based stock options \| Options must fulfill the service vesting condition until 2025
Disclosure of terms and conditions of share-based payment arrangement [line items]
Options granted \| Options																			325,000
Executives - Performance-based stock options \| Key management
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expense recognized \| €														121,000
Options granted \| Options																			1,006,000
Executives - Time-based stock options
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expense recognized \| €														2,200,000						€ 3,505,000
Outstanding at January 1 \| Options																			2,951,000
Options granted \| Options																			2,199,488	2,951,000
Forfeited during the year \| Options																			(2,043,000)
Outstanding at December 31 \| Options			2,951,000							3,107,488									3,107,488	2,951,000
Outstanding at January 1																7.25
Granted during the year																2.76				€ 7.25
Forfeited during the year																7.25
Outstanding at December 31			€ 7.25							€ 4.07						€ 4.07				€ 7.25
Expected volatility (%)															121.90%
Weighted average remaining contractual life												9 years 6 months								9 years 10 months 24 days
Risk free rate															(0.69%)
Expected dividend yield															0.00%
Expected exercise term \| Y																				4
Executives - Time-based stock options \| Minimum
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expected volatility (%)															118.97%
Risk free rate															0.69%
Expected exercise term \| Y																		1.1
Executives - Time-based stock options \| Maximum
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expected volatility (%)															124.10%
Risk free rate															2.05%
Expected exercise term \| Y																		1.8
Executives - Success fees
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expense arising from equity-settled share-based payments \| €																				€ 1,844,000
Expense arising from cash-settled share-based payments \| €														(134,000)						2,590,000
Expense recognized \| €														(134,000)						4,434,000
Executives - Success fees \| Equity-settled options
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expense recognized \| €																				1,844,000
Executives - Success fees \| Cash-settled options
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expense recognized \| €														(134,000)						2,590,000
Executives - Joint Stock Ownership plan (JSOP) and bonus
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expense recognized \| €														(4,435,000)						5,438,000
Remaining liability amount \| €																				1,676,000
Executives - Joint Stock Ownership plan (JSOP)
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expense recognized \| €														(3,762,000)						3,762,000
Remaining liability amount \| €														1,003,000						3,762,000
Executives - shadow bonus
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expense recognized \| €														(673,000)						€ 1,676,000
Weighted average remaining contractual life												0 years								4 years 8 months 12 days
Share-based payment - Vendors
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expense recognized \| €											€ 4,558,000			9,726,000
Cash \| €														4,500,000
Share-based payment awards \| €														3,757,000						€ 0
Number of third parties \| item											2
Prepayment of the goods and services to the vendors \| €			€ 0							€ 19,502,000		€ 19,502,000	€ 19,502,000	19,502,000	€ 19,502,000	€ 19,502,000	€ 19,502,000	€ 19,502,000	€ 19,502,000	0
Release from prepayment recorded as share-based payment expense \| €			€ 0							€ 1,114,000		€ 1,114,000	€ 1,114,000	€ 1,114,000	€ 1,114,000	€ 1,114,000	€ 1,114,000	€ 1,114,000	€ 1,114,000	€ 0
Share-based payment - Vendors \| Class A shares
Disclosure of terms and conditions of share-based payment arrangement [line items]
Issuance of units \| shares										3,101,523

Share-based Payments - Movements during year - RSU (Detail)	12 Months Ended
	Dec. 31, 2022 Options € / shares	Dec. 31, 2021 Options
Disclosure of Weighted Average Exercise Prices Of Other Equity Instruments [Abstract]
Number of RSU exercisable	908	0
General population - Restricted Stock Units ("RSU") [Member]
Disclosure of Number Of Other Equity Instruments [Abstract]
Outstanding at January 1	4,275,098	162,800
Assigned during the year	4,886,077	162,800
Exercised during the year	(638,470)
Forfeited during the year	(135,309)
Outstanding at December 31	4,275,098	162,800
Disclosure of Weighted Average Exercise Prices Of Other Equity Instruments [Abstract]
Exercised during the year \| € / shares	€ 0.12
Executives - ESOP modified
Disclosure of Weighted Average Exercise Prices Of Other Equity Instruments [Abstract]
Assigned during the year		1,888,477
Restricted Stock Units \| Executives - Restricted Stock Units ("RSU") [Member]
Disclosure of Number Of Other Equity Instruments [Abstract]
Forfeited during the year	(134,400)

Share-based Payments - Measurement of fair values (Details)											12 Months Ended
	Mar. 31, 2022 € / shares	Dec. 31, 2021 EUR (€) Options € / shares	Oct. 08, 2021 € / shares	Sep. 15, 2021 € / shares	Sep. 14, 2021 € / shares shares	Aug. 31, 2021 € / shares	Jul. 31, 2021 € / shares	Jun. 30, 2021 € / shares	Mar. 31, 2021 € / shares	Dec. 31, 2020 € / shares	Dec. 31, 2022 EUR (€) Options € / shares shares	Dec. 31, 2022 EUR (€) Options € / shares shares	Dec. 31, 2022 EUR (€) Options € / shares shares	Dec. 31, 2022 EUR (€) € / shares Options shares	Dec. 31, 2022 EUR (€) USD ($) Options € / shares shares	Dec. 31, 2022 EUR (€) Y Options € / shares shares	Dec. 31, 2022 EUR (€) Options € / shares shares	Dec. 31, 2021 EUR (€) Options € / shares	Dec. 31, 2021 EUR (€) Options € / shares	Dec. 31, 2021 EUR (€) Options € / shares	Dec. 31, 2021 EUR (€) € / shares Options	Dec. 31, 2021 EUR (€) Y Options € / shares	Dec. 31, 2021 EUR (€) Options € / shares	Dec. 31, 2022 $ / shares	Sep. 14, 2021 $ / shares
Share-based Payments
Exercise price														€ 9.45
Weighted average remaining contractual life											9 years 6 months							9 years 10 months 24 days
Number of options exercisable		0									7,043,620	7,043,620	7,043,620	7,043,620	7,043,620	7,043,620	7,043,620	0	0	0	0	0	0
Fair value option per share	€ 3.59	€ 6.12		€ 7.89		€ 7.71	€ 7.36	€ 7.05	€ 7.13	€ 6.05
Price per share \| $ / shares																								$ 1.14
Minimum
Share-based Payments
Exercise price																					€ 7.11
Maximum
Share-based Payments
Exercise price																					€ 8.80
General population and executives - standard ESOP
Share-based Payments
Total fair value of options granted \| €		€ 23,061,000									€ 17,483,000	€ 17,483,000	€ 17,483,000	€ 17,483,000	€ 17,483,000	€ 17,483,000	€ 17,483,000	€ 23,061,000	€ 23,061,000	€ 23,061,000	€ 23,061,000	€ 23,061,000	€ 23,061,000
Conversion rate			258700.00%
Exercise price			€ 1
Weighted average exercise price for all option											€ 0	€ 0	€ 0	€ 0	€ 0	€ 0	€ 0
Exercised (in shares)															2.52		979,661						3,300,960
Number of options granted \| Options																							0
Lock-up period for options become exercisable																		180 days
General population - Restricted Stock Units ("RSU")
Share-based Payments
Exercise price														0.12
Weighted average exercise price for all option		€ 0.12									€ 0.12	€ 0.12	€ 0.12	€ 0.12	€ 0.12	€ 0.12	€ 0.12	€ 0.12	€ 0.12	€ 0.12	€ 0.12	€ 0.12	€ 0.12
Weighted average remaining contractual life											6 months 29 days							1 year 8 months 12 days
Number of options granted												4,886,000							0				162,000
Number of options exercisable \| Options		0									0	0	0	0	0	0	0	0	0	0	0	0	0
Weighted average fair value of options granted														1.92							5.97
Executives - ESOP modified
Share-based Payments
Total fair value of options granted \| €		€ 11,229,000																€ 11,229,000	€ 11,229,000	€ 11,229,000	€ 11,229,000	€ 11,229,000	€ 11,229,000
Weighted average exercise price for all option		€ 7.90									€ 6.94	€ 6.94	€ 6.94	€ 6.94	€ 6.94	€ 6.94	€ 6.94	€ 7.90	€ 7.90	€ 7.90	€ 7.90	€ 7.90	€ 7.90
Weighted average remaining contractual life											11 years 4 months 24 days							12 years 4 months 24 days
Exercised (in shares) \| Options																	430,431						101,018
Number of options granted \| Options																	531,449						0
Executives - Restricted Stock Units ("RSU")
Share-based Payments
Weighted average remaining contractual life											1 year 6 months							2 years 8 months 12 days
Weighted average fair value of options granted \| €												1.67							7.09
Executives - Performance-based stock options
Share-based Payments
Weighted average exercise price for all option		8.15									€ 7.94	€ 7.94	€ 7.94	€ 7.94	7.94	€ 7.94	€ 7.94	€ 8.15	€ 8.15	€ 8.15	€ 8.15	€ 8.15	€ 8.15
Number of options granted \| Options																	1,272,059						7,036,501
Weighted average fair value of options granted														1.14							5.68
Volatility rate (in percent)																				121.80%
Weighted average timing period (in years) \| Y																3.4						4
Executives - Performance-based stock options \| Minimum
Share-based Payments
Volatility rate (in percent)													108.86%
Weighted average timing period (in years) \| Y																3.3
Executives - Performance-based stock options \| Maximum
Share-based Payments
Volatility rate (in percent)													121.91%
Executives - Time-based stock options
Share-based Payments
Exercise price														€ 2.76							€ 7.25
Weighted average exercise price for all option		€ 7.25									€ 4.07	€ 4.07	€ 4.07	€ 4.07	€ 4.07	€ 4.07	€ 4.07	€ 7.25	€ 7.25	€ 7.25	€ 7.25	€ 7.25	€ 7.25
Weighted average remaining contractual life											9 years 6 months							9 years 10 months 24 days
Number of options granted \| Options																	2,199,488						2,951,000
Weighted average fair value of options granted														1.21							5.31
Volatility rate (in percent)													121.90%
Weighted average timing period (in years) \| Y																						4
Executives - Time-based stock options \| Minimum
Share-based Payments
Volatility rate (in percent)													118.97%
Weighted average timing period (in years) \| Y																1.1
Executives - Time-based stock options \| Maximum
Share-based Payments
Volatility rate (in percent)													124.10%
Weighted average timing period (in years) \| Y																1.8
Executives - Success fees
Share-based Payments
Provision made for payments \| €		€ 2,590,000									€ 0	€ 0	€ 0	€ 0	€ 0	€ 0	€ 0	€ 2,590,000	€ 2,590,000	€ 2,590,000	€ 2,590,000	€ 2,590,000	€ 2,590,000
success fees \| €												€ 2,457,000
Percentage of success fee on proceeds from reorganization													0.50%
Number of shares converted \| shares					293,230
Price per share \| (per share)					€ 8.47																				$ 10.00
Advisors - Strategic collaboration agreement
Share-based Payments
Discount for lack of marketability													5.00%
Number of warrants to purchase shares \| shares											1,800,000	1,800,000	1,800,000	1,800,000	1,800,000	1,800,000	1,800,000
Exercise price of warrant											€ 0.12	€ 0.12	€ 0.12	€ 0.12	€ 0.12	€ 0.12	€ 0.12
Expiration period (in years)											5 years
Transfer restriction period (in months)											12 months
Professional fees \| €												€ 13,030,000

Warrants, Convertible Loans and Other Financial Liabilities (Details) - EUR (€) € in Thousands	Dec. 31, 2022	Dec. 31, 2021
Ifrs Class of Warrant or Right [Line Items]
Other non-current financial liabilities	€ 21
Other current financial liabilities	4
Warrants	26,267	€ 21,405
Reorganization Warrants
Ifrs Class of Warrant or Right [Line Items]
Warrants	1,811	€ 21,405
Warrant Agreement Dated November 18,2022 With Each Of Registered Direct Offering Private Investment In Public Equity Investors [Member]
Ifrs Class of Warrant or Right [Line Items]
Warrants	€ 24,456

Warrants and Other Financial Liabilities - Reorganization Warrants (Details) - shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Reorganization Warrants
Ifrs Class of Warrant or Right [Line Items]
Warrants exercisable term	30 days
Warrants expiration term	5 years
Public Warrants
Ifrs Class of Warrant or Right [Line Items]
Warrants exercised		0
Public Warrants \| Reorganization Warrants
Ifrs Class of Warrant or Right [Line Items]
Number of warrants assigned from Qell to Liliium upon Reorganization	12,649,946
Warrants exercised	10
Warrants outstanding	12,649,936	12,649,946
Private Warrants \| Reorganization Warrants
Ifrs Class of Warrant or Right [Line Items]
Number of warrants assigned from Qell to Liliium upon Reorganization	7,060,000
Warrants outstanding	7,060,000	7,060,000

Warrants and Other Financial Liabilities - RDO Warrants & 2022 PIPE Warrants (Details)	12 Months Ended
	Dec. 31, 2022 D € / shares $ / shares shares	Dec. 31, 2022 $ / shares shares	Dec. 31, 2021 shares	Sep. 14, 2021 € / shares
Ifrs Class of Warrant or Right [Line Items]
Share price		$ 1.14
Nominal value \| € / shares	€ 0.12
Class A Shares
Ifrs Class of Warrant or Right [Line Items]
Nominal value \| € / shares				€ 0.12
Warrant Agreement Dated November 18,2022 With Each Of Registered Direct Offering Private Investment In Public Equity Investors [Member]
Ifrs Class of Warrant or Right [Line Items]
Exercisable period	4 years
Exercise price of warrant		1.30
Minimum trading days required for prior written notice to registered holders of warrants \| D	20
Warrant Agreement Dated November 18,2022 With Each Of Registered Direct Offering Private Investment In Public Equity Investors [Member] \| Class A Shares
Ifrs Class of Warrant or Right [Line Items]
Maximum share price subject to exceptions		1.30
Redemption price per share		$ 0.01
Minimum market price required for at least 20 trading days during 30 consecutive trading day period	€ 2.60
PIPE Warrants
Ifrs Class of Warrant or Right [Line Items]
Warrants outstanding \| shares	34,512,464	34,512,464	0
PIPE Warrants \| Class A Shares
Ifrs Class of Warrant or Right [Line Items]
Number of warrant to purchase shares \| shares	0.50	0.50
Share price		$ 1.30
Nominal value \| € / shares	€ 0.12
RDO Warrants
Ifrs Class of Warrant or Right [Line Items]
Warrants outstanding \| shares	11,249,997	11,249,997	0
RDO Warrants \| Class A Shares
Ifrs Class of Warrant or Right [Line Items]
Number of warrant to purchase shares \| shares	0.5	0.5
Share price \| € / shares	€ 1.30
Nominal value		$ 0.12

Provisions (Details) - EUR (€) € in Thousands	12 Months Ended
Provisions (Details) - EUR (€) € in Thousands	Dec. 31, 2022	Dec. 31, 2021
Asset retirement obligations
Provisions
Beginning balance	€ 233	€ 175
Additions/ Reversals	66	54
Unwinding of discount and changes in discount rate	3	4
Ending balance	302	233
Post-employment benefits
Provisions
Beginning balance	84	193
Additions/ Reversals	(9)	(109)
Ending balance	75	84
Record retention obligations
Provisions
Beginning balance	56	43
Additions/ Reversals	22	13
Unwinding of discount and changes in discount rate	(10)
Ending balance	68	56
Total non-current provisions
Provisions
Beginning balance	373	411
Additions/ Reversals	79	(42)
Unwinding of discount and changes in discount rate	(7)	4
Ending balance	445	373
Year-end audit
Provisions
Beginning balance	1,067
Additions/ Reversals	(1,067)	1,067
Ending balance		1,067
Legal Claims
Provisions
Additions/ Reversals	420
Ending balance	420
Severance payments
Provisions
Beginning balance	619	80
Additions/ Reversals	(505)	539
Ending balance	114	619
Other
Provisions
Beginning balance	736
Additions/ Reversals	(540)	736
Ending balance	196	736
Total current provisions
Provisions
Beginning balance	2,422	80
Additions/ Reversals	(1,692)	2,342
Ending balance	€ 730	€ 2,422

Post-Employment Benefits (Details) - EUR (€) € in Thousands	12 Months Ended
Post-Employment Benefits (Details) - EUR (€) € in Thousands	Dec. 31, 2022	Dec. 31, 2021
Post-Employment Benefits
Expense for defined contribution plans	€ 635	€ 465
Contributions	€ 1	€ 28

Post-Employment Benefits - Present value of the defined benefit obligations and the fair value of the plan assets (Details) - EUR (€) € in Thousands	Dec. 31, 2022	Dec. 31, 2021
Present value of the defined benefit obligations and the fair value of the plan assets
Present value of funded obligations	€ 487	€ 155
Fair value of plan assets	(411)	(71)
Net defined benefit liability	€ 76	€ 84

Post-Employment Benefits - Reconciliation of the net defined benefit liability (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Post-Employment Benefits
Net defined liability at January 1	€ 84	€ 193
Defined benefit cost recognized in consolidated statement of operations	101	117
Defined benefit cost recognized in other comprehensive income	(28)	(162)
Employer contributions	(85)	(74)
Currency effects	4	10
Net defined liability at December 31	€ 76	€ 84

Post-Employment Benefits - Reconciliation of the amount recognized in the consolidated statement of financial position (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Post-Employment Benefits
Net defined liability at January 1	€ 84	€ 193
thereof: experience adjustments	94	(202)
thereof: adjustments for financial assumptions	(108)	(6)
Current service cost	95	112
Past service credit		(1)
Currency effects	4	10
Net defined liability at December 31	76	84
Employee benefit obligations
Post-Employment Benefits
Net defined liability at January 1	155	433
Actuarial adjustments	(14)	(233)
thereof: experience adjustments	94	(202)
thereof: demographic adjustments		(25)
thereof: adjustments for financial assumptions	(108)	(6)
Current service cost	95	112
Past service credit		(1)
Interest expense	1	1
Currency effects	14	19
Employee contributions	85	74
Benefits recovered / (paid)	151	(250)
Net defined liability at December 31	€ 487	€ 155

Post-Employment Benefits - Reconciliation of the plan assets (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Post-Employment Benefits
Net defined liability at January 1	€ 84	€ 193
Employer contributions	85	74
Administration expenses	6	5
Return on asset excl. interest income	(14)	71
Currency effects	4	10
Net defined liability at December 31	76	84
Fair value of plan assets
Post-Employment Benefits
Net defined liability at January 1	71	240
Employer contributions	85	74
Employee contributions	85	74
Benefits recovered / (paid)	151	(250)
Administration expenses	(6)	(5)
Return on asset excl. interest income	14	(71)
Interest income	1	0
Currency effects	10	9
Net defined liability at December 31	€ 411	€ 71

Post-Employment Benefits - Expense recognized in the consolidated statements of operations and other comprehensive income (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Post-Employment Benefits
Actuarial losses (+) / gains (-) deriving from experience adjustments	€ 94	€ (202)
Actuarial gains (-) / losses (+) deriving from changes in demographical assumptions		(25)
Actuarial gains (-) / losses (+) deriving from changes in financial assumptions	(108)	(6)
Return on plan assets etc., interest (expense) / income	(14)	71
Included in other comprehensive income	(28)	(162)
Current service cost	95	112
Past service (credit) / cost		(1)
Interest income	(1)	0
Administrative expenses (effective)	6	5
Interest expense	1	1
Included in the consolidated statements of operations	101	117
Total expense / (income) included in the consolidated statements of operations and other comprehensive income	73	(45)
Expected payment contributions	€ 84	€ 56

Post-Employment Benefits - Principal actuarial assumptions (Details)	Dec. 31, 2022	Dec. 31, 2021
Post-Employment Benefits
Future salary increases	3.00%	1.00%
Inflation rate	1.60%	0.60%
Future pension increases	0.00%	0.00%
Discount rate	2.20%	0.35%

Post-Employment Benefits - Sensitivity Analysis (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Post-Employment Benefits
Present value of the post-employment benefit obligations	€ 487	€ 155
Average duration of the obligations	15 years	18 years
Discount rate
Post-Employment Benefits
Increase in assumption (in percent)	0.25%	0.25%
Decrease in assumption (in percent)	(0.25%)	(0.25%)
Present value of the post-employment benefit obligations	€ 503	€ 163
Present value of the post-employment benefit obligations decrease	€ 472	€ 149
Salary increase
Post-Employment Benefits
Increase in assumption (in percent)	0.25%	0.25%
Decrease in assumption (in percent)	(0.25%)	(0.25%)
Present value of the post-employment benefit obligations	€ 490	€ 156
Present value of the post-employment benefit obligations decrease	€ 480	€ 155
Pension increase
Post-Employment Benefits
Increase in assumption (in percent)	0.25%	0.25%
Decrease in assumption (in percent)	(0.25%)	(0.25%)
Present value of the post-employment benefit obligations	€ 495	€ 159

Post-Employment Benefits - Expected Benefit Payments (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Post-Employment Benefits
Expected benefit payments	€ 84	€ 56
Total expected benefit payments	84	56
Not later than one year
Post-Employment Benefits
Expected benefit payments	29	18
Total expected benefit payments	29	18
Later than one year and not later than five years
Post-Employment Benefits
Expected benefit payments	161	95
Total expected benefit payments	161	95
Later than five years and not later than ten years [member]
Post-Employment Benefits
Expected benefit payments	280	147
Total expected benefit payments	€ 280	€ 147

Trade and other Payables (Details) - EUR (€) € in Thousands	Dec. 31, 2022	Dec. 31, 2021
Trade and other Payables
Long term accruals	€ 3,483	€ 2,906
Non-current trade and other payables	3,483	2,906
Trade payables	19,195	14,936
Accruals for outstanding invoices	14,463	20,399
Current trade and other payables	33,658	35,335
Total trade and other payables	€ 37,141	€ 38,241

Other Non-Financial Liabilities (Details) - EUR (€) € in Thousands	Dec. 31, 2022	Dec. 31, 2021
Other Non-Financial Liabilities
Vacation accruals	€ 2,474	€ 2,488
Value added tax payables		242
Payroll tax and social security	3,497	2,992
Miscellaneous other current non-financial liabilities	2,596	338
Total other non-financial liabilities	€ 8,567	€ 6,060

Financial Instruments - Financial assets, by class (Details) - EUR (€) € in Thousands	Dec. 31, 2022	Dec. 31, 2021
Financial instruments
Carrying amount	€ 205,548	€ 353,260
AC
Financial instruments
Carrying amount	205,548	253,341
AC \| Cash and cash equivalents
Financial instruments
Carrying amount	179,581	129,856
AC \| Fixed term deposit
Financial instruments
Carrying amount	19,987	119,664
AC \| Non-current security deposits
Financial instruments
Carrying amount	3,386	3,779
Fair value	3,265	3,787
AC \| Security deposits
Financial instruments
Carrying amount	€ 2,594	42
FVTPL
Financial instruments
Carrying amount		99,919
FVTPL \| Money Market Funds
Financial instruments
Carrying amount		99,919
Fair value		€ 99,919

Financial Instruments - Financial liabilities, by class (Details) - EUR (€) € in Thousands	Dec. 31, 2022	Dec. 31, 2021
Financial Instruments
Carrying amount	€ 63,433
Fair value		€ 59,646
Financial liabilities measured at amortized cost
Financial Instruments
Carrying amount	37,166	38,241
Financial liabilities measured at amortized cost \| Non-current trade and other payables
Financial Instruments
Carrying amount	3,483	2,906
Fair value	3,239	2,868
Financial liabilities measured at amortized cost \| Current trade and other payables
Financial Instruments
Carrying amount	33,658	35,335
Financial liabilities measured at amortized cost \| Non-current other liabilities
Financial Instruments
Carrying amount	21
Fair value	21
Financial liabilities measured at amortized cost \| Current other financial liabilities
Financial Instruments
Carrying amount	4
FVTPL
Financial Instruments
Carrying amount	26,267	21,405
FVTPL \| Warrants
Financial Instruments
Carrying amount	26,267	21,405
Fair value	€ 26,267	€ 21,405

Financial Instruments - Thereof aggregated to categories according to IFRS 9 (Details) - EUR (€) € in Thousands	Dec. 31, 2022	Dec. 31, 2021
Financial Instruments
Carrying amount, financial assets	€ 205,548	€ 353,260
Carrying amount, financial liabilities	63,433
Financial assets measured at amortized cost
Financial Instruments
Carrying amount, financial assets	205,548	253,341
FVTPL.
Financial Instruments
Carrying amount, financial assets		99,919
FVTPL
Financial Instruments
Carrying amount, financial liabilities	26,267	21,405
Financial liabilities measured at amortized cost
Financial Instruments
Carrying amount, financial liabilities	€ 37,166	€ 38,241

The amount of assets that are: (a) cash; (b) an equity instrument of another entity; (c) a contractual right: (i) to receive cash or another financial asset from another entity; or (ii) to exchange financial assets or financial liabilities with another entity under conditions that are potentially favourable to the entity; or (d) a contract that will, or may be, settled in the entity’s own equity instruments and is: (i) a non-derivative for which the entity is, or may be, obliged to receive a variable number of the entity’s own equity instruments; or (ii) a derivative that will, or may be, settled other than by the exchange of a fixed amount of cash or another financial asset for a fixed number of the entity’s own equity instruments. For this purpose the entity’s own equity instruments do not include puttable financial instruments classified as equity instruments in accordance with paragraphs 16A-16B of IAS 32, instruments that impose on the entity an obligation to deliver to another party a pro rata share of the net assets of the entity only on liquidation and are classified as equity instruments in accordance with paragraphs 16C-16D of IAS 32, or instruments that are contracts for the future receipt or delivery of the entity’s own equity instruments. [Refer: Financial instruments, class [member]; Financial liabilities]

The amount of liabilities that are: (a) a contractual obligation: (i) to deliver cash or another financial asset to another entity; or (ii) to exchange financial assets or financial liabilities with another entity under conditions that are potentially unfavourable to the entity; or (b) a contract that will, or may be, settled in the entity’s own equity instruments and is: (i) a non-derivative for which the entity is, or may be, obliged to deliver a variable number of the entity’s own equity instruments; or (ii) a derivative that will, or may be, settled other than by the exchange of a fixed amount of cash or another financial asset for a fixed number of the entity’s own equity instruments. For this purpose, rights, options or warrants to acquire a fixed number of the entity’s own equity instruments for a fixed amount of any currency are equity instruments if the entity offers the rights, options or warrants pro rata to all of its existing owners of the same class of its own non-derivative equity instruments. Also, for those purposes the entity’s own equity instruments do not include puttable financial instruments that are classified as equity instruments in accordance with paragraphs 16A-16B of IAS 32, instruments that impose on the entity an obligation to deliver to another party a pro rata share of the net assets of the entity only on liquidation and are classified as equity instruments in accordance with paragraphs 16C-16D of IAS 32, or instruments that are contracts for the future receipt or delivery of the entity’s own equity instruments. As an exception, an instrument that meets the definition of a financial liability is classified as an equity instrument if it has all the features and meets the conditions in paragraphs 16A-16B or paragraphs 16C-16D of IAS 32. [Refer: Financial instruments, class [member]; Financial assets; Derivatives [member]]