During the first quarter of 2018, PowerCell Sweden AB (publ) performed more sales and marketing activities than any quarter before and sales doubled compared to the same period last year.

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

PowerCell continues the transition from a development focused organisation to a customer oriented commercial pioneering company.

“Our market strategy is firm, with full focus on developing the segments that we have prioritised, while at the same time we continue to devote particular attention to the growing Chinese demand. We are building brand, delivering high-performance stacks with premium quality, and we have a solid reputation, which is confirmed by the many requests and repeat customers,” says Per Wassén, CEO at PowerCell.

During the quarter, PowerCell received orders among others from China. Additional two orders were received after the end of the reporting period. The sales of the quarter amounted to MSEK 7.8, twice as much as the same period 2017.

Financial highlights

All numbers in TSEK   2018
Jan-Mar
2017
Jan-Mar
2017
Jan-Dec
Net sales 7 814 3 940 36 738
Operating profit -18 809 -15 923 -66 697
Profit after tax  -18 957 -15 923 -66 704
Operative cash flow  -10 198 -12 264 -51 324