During the second quarter 2018 sales for PowerCell Sweden AB (publ) more than doubled from MSEK 6.0 to MSEK 13.5 compared to the same period last year, driven by increased customer activities and orders. Operating income for the period was MSEK -19.3 (-18.0).
“The awareness about the acute climate situation is increasing and driving interest in us and our products”, Per Wassén, CEO of PowerCell said. “At the same time we continue our structured work to step by step build the company to be better able to both support and to benefit from the necessary transformation.”

The English version is an in house-translation. In case of any discrepancy, the Swedish text will prevail.

The increased interest from customers resulted in higher sales and increased orders in strategically important markets such as the US, Germany and China. During the period PowerCell received a prototype order for PowerCell S3 fuel cell stacks from an international Tier 1 supplier in the Automotive Industry worth MSEK 6.9, a repeat order for PowerCell S2 fuel cell stacks for tests from a Chinese customer worth MSEK 2.3, and a strategically important order for PowerCell S3 fuel cell stacks and MS100 systems for tests from a global OEM in the automotive industry.

Financial highlights

All numbers in TSEK 2018
Net sales 13 506 5 996 21 320 9 936
Operating income -19 288 -17 960 -38 096 -33 883
Profit after tax -19 442 -17 962 -38 399 -33 885
Operative cash flow -25 702 3 996 -35 900 -8 268

Per Wassén

 For further information, please contact:

CEO, PowerCell Sweden AB (publ)

Phone: +46 (0) 31 720 36 20

Email: per.wassen@powercell.se

This information is insider information that PowerCell Sweden AB (Publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08:30 CET on August 23, 2018.

About PowerCell Sweden AB (publ) 

PowerCell Sweden AB (publ) develops and produces fuel cell stacks and systems for stationary and mobile applications with a world class energy density. The fuel cells are powered by hydrogen, pure or reformed, and produce electricity and heat with no emissions other than water. As the stacks and systems are compact, modular and scalable, they are easily adjusted to any customer need.

PowerCell was founded in 2008 as an industrial spinout from the Volvo Group. The share (PCELL) is since 2014 subject to trade at Nasdaq First North Stockholm with G&W Fondkommission as Certified Adviser.

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