Sweden's Powercell Q2 sales fall amid challenging market conditions
Sweden's Powercell Q2 sales fall amid challenging market conditions
Overview
Sweden hydrogen fuel cell maker's Q2 net sales fell 72% yr/yr after prior Bosch deal
Q2 net loss and basic EPS turned negative as gross margin dropped to 10.4%
Company secured new aviation, marine and AI data center orders during and after Q2
Outlook
Company did not provide specific guidance for the current qtr or full yr
Result Drivers
ONE-OFF BOSCH DEAL - Co said prior-year revenue was boosted by a major licensing transaction with Bosch; excluding this, Q2 revenue still fell 46%
MARKET CONDITIONS - Co said Q2 performance was consistent with challenging market conditions previously described
NEW ORDERS - Co secured new aviation and marine orders during Q2, valued at SEK 12m and SEK 50m respectively
Company press release: ID:nMFN1cC8sN
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Sales |
| SEK 37 mln |
|
Q2 Net Income |
| -SEK 51.20 mln |
|
Q2 Gross Margin |
| 10.40% |
|
Q2 Basic EPS |
| -SEK 0.88 |
|
Q2 Operating Cash Flow |
| SEK 4.60 mln |
|
Q2 Operating Income |
| -SEK 52.20 mln |
|
Analyst Coverage
The one available analyst rating on the shares is "hold"
The average consensus recommendation for the electrical components & equipment peer group is "buy."
Wall Street's median 12-month price target for Powercell Sweden AB (publ) is SEK32.00, about 60.1% above its July 15 closing price of SEK19.99
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)