In the third quarter, PowerCell demonstrated organic growth of 26 percent and operating income improved to
In the quarter, growth twelve-month rolling was 42 percent and net sales amounted to
“We are in a new phase with market driven growth from commercial applications and has left early-stage tech exploration. Stronger OEM demand with deployment into commercial applications puts different demands on the product offering from PowerCell which also provides long-term volume commitment and an interesting after-market business. Following the direction set out in the Q1 report 2021, we have focused on improving our product offering, industrialization and productivity to make sure that when the market starts to grow, we scale up operations that is lean and sustainable. Our growth will contribute to our future profitability will contribute to our future profitability, while we continue to invest in the next generation of technology”, Richard Berkling, CEO of
In the quarter, PowerCell received the first deliveries of fuel cell stacks from its contract manufacturer Bosch and made significant progress with ZeroAvia, one of its aviation customers.
“We have proven that our offering Industrialized Innovation is a winning concept and we are well positioned to accelerate growth in the market for sustainable, zero emission solutions”, Richard Berkling concluded.
Key performance indicators | |||||
SEK million, unless other stated | Jul- | Jul- | Jan- | Jan- | 2022 |
Net sales | 69.9 | 55.6 | 182.8 | 142.9 | 244.7 |
Gross profit | 36.1 | 19.8 | 77.0 | 55.2 | 113.0 |
Gross margin*, % | 51.6 | 35.5 | 42.1 | 38.6 | 46.2 |
Operating income | -6.5 | -24.5 | -64.4 | -77.7 | -75.0 |
Net income | -6.6 | -19.9 | -53.0 | -61.7 | -58.2 |
Earnings per share (basic and diluted), SEK | -0.22 | -0.37 | -1.19 | -1.15 | -1.09 |
Shareholder equity ratio, % | 60.8 | 69.8 | 60.8 | 69.8 | 70.2 |
Operating cash flow | -51.9 | -11.0 | -47.0 | -82.8 | -120.5 |
*As from
Link to the report: https://www.powercellgroup.com/en/reports-and-presentations
For further information, please contact:
Richard Berkling
CEO
+46 31 720 36 20
richard.berkling@powercellgroup.com
www.powercellgroup.com
Torbjörn Gustafsson
CFO
+46 701 86 69 86
torbjorn.gustafsson@powercellgroup.com
www.powercellgroup.com
The English version is an in house-translation. In case of any discrepancy, the Swedish text will prevail.
About PowerCell
PowerCell is a world leader in hydrogen electric solutions. With decades of experience, we use our expertize to accelerate the transition to an emission-free, more sustainable world. We target industries such as aviation, marine, off-road, on-road and stationary power generation. With our cutting-edge products we help our customers to reach net zero emissions already today.
We are headquartered in
To read more about our products and services, visit www.powercellgroup.com.
G&W Fondkommission is our Certified Adviser on Nasdaq First North Growth Market, e-mail: ca@gwkapital.se, phone: +46 8 503 000 50.
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