Buy Or Sell Opportunity • Aug 07
Now 24% overvalued Over the last 90 days, the stock has fallen 20% to €1.95. The fair value is estimated to be €1.58, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 8.2% over the last 3 years. Earnings per share has grown by 5.8%. Revenue is forecast to grow by 97% in 2 years. Earnings are forecast to grow by 95% in the next 2 years. Buy Or Sell Opportunity • Jul 22
Now 20% overvalued Over the last 90 days, the stock has fallen 13% to €1.89. The fair value is estimated to be €1.57, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 8.2% over the last 3 years. Earnings per share has grown by 5.8%. Revenue is forecast to grow by 97% in 2 years. Earnings are forecast to grow by 95% in the next 2 years. Reported Earnings • Jul 19
Second quarter 2026 earnings released: kr0.88 loss per share (vs kr0.39 profit in 2Q 2025) Second quarter 2026 results: kr0.88 loss per share (down from kr0.39 profit in 2Q 2025). Revenue: kr37.0m (down 72% from 2Q 2025). Net loss: kr51.2m (down 328% from profit in 2Q 2025). Revenue is forecast to grow 37% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Electrical industry in Germany. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 40% per year, which means it is significantly lagging earnings. New Risk • Jul 15
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -kr45m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risk Less than 1 year of cash runway based on free cash flow trend (-kr45m free cash flow). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (kr11m net loss in 2 years). Share price has been volatile over the past 3 months (13% average weekly change). Breakeven Date Change • Jun 03
Forecast breakeven date pushed back to 2028 The analyst covering PowerCell Sweden previously expected the company to break even in 2027. New forecast suggests losses will reduce by 59% per year to 2027. The company is expected to make a profit of kr28.0m in 2028. Average annual earnings growth of 91% is required to achieve expected profit on schedule. Board Change • May 21
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 6 experienced directors. No highly experienced directors. Independent Chairman of the Board Katarina Bonde was the last director to join the board, commencing their role in 2026. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Apr 07
PowerCell Sweden AB (publ) to Report Q4, 2026 Results on Feb 03, 2027 PowerCell Sweden AB (publ) announced that they will report Q4, 2026 results on Feb 03, 2027 Announcement • Apr 06
PowerCell Sweden AB (publ) to Report Q3, 2026 Results on Oct 22, 2026 PowerCell Sweden AB (publ) announced that they will report Q3, 2026 results on Oct 22, 2026 Announcement • Feb 24
PowerCell Sweden AB (publ) to Report Fiscal Year 2025 Final Results on Apr 01, 2026 PowerCell Sweden AB (publ) announced that they will report fiscal year 2025 final results at 9:00 AM, Central European Standard Time on Apr 01, 2026 Announcement • Feb 05
PowerCell Sweden AB (publ) to Report First Half, 2026 Results on Jul 16, 2026 PowerCell Sweden AB (publ) announced that they will report first half, 2026 results on Jul 16, 2026 Board Change • Dec 30
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 5 experienced directors. 1 highly experienced director. Independent Director Nicolas Boutin was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Sep 05
PowerCell Sweden AB (publ), Annual General Meeting, May 05, 2026 PowerCell Sweden AB (publ), Annual General Meeting, May 05, 2026. Announcement • Sep 04
Powercell Sweden AB (Publ) Announces Appointment of Member of Nomination Committee PowerCell Sweden AB (publ) announced appointment of a member of the company’s Nomination Committee. The following individuals have been appointed to PowerCell’s Nomination Committee according to the principles adopted by the Annual General Meeting: Uwe Zeise (chairperson of the Nomination Committee), representing Robert Bosch, Jesús Martínez Motilva, representing Axon Partners Group Investment, Per Ekdunge, representing himself. Announcement • May 06
PowerCell Sweden AB (publ) to Report Q1, 2026 Results on Apr 23, 2026 PowerCell Sweden AB (publ) announced that they will report Q1, 2026 results on Apr 23, 2026 Announcement • Mar 28
PowerCell Sweden AB (publ), Annual General Meeting, Apr 29, 2025 PowerCell Sweden AB (publ), Annual General Meeting, Apr 29, 2025, at 12:00 W. Europe Standard Time. Location: at filmstaden bergakungen, alon 5, with the address skaegatan 16 b in gothenburg, Sweden Announcement • Mar 02
PowerCell Sweden AB (publ) to Report Fiscal Year 2024 Results on Apr 01, 2025 PowerCell Sweden AB (publ) announced that they will report fiscal year 2024 results at 12:00 PM, Central European Standard Time on Apr 01, 2025 Announcement • Dec 13
PowerCell Sweden AB (publ) has completed a Follow-on Equity Offering in the amount of SEK 189.75 million. PowerCell Sweden AB (publ) has completed a Follow-on Equity Offering in the amount of SEK 189.75 million.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 5,750,000
Price\Range: SEK 33
Transaction Features: Subsequent Direct Listing Announcement • Dec 12
PowerCell Sweden AB (publ) has filed a Follow-on Equity Offering. PowerCell Sweden AB (publ) has filed a Follow-on Equity Offering.
Security Name: Shares
Security Type: Common Stock
Transaction Features: Subsequent Direct Listing Reported Earnings • Oct 17
Third quarter 2024 earnings released: kr0.30 loss per share (vs kr0.13 loss in 3Q 2023) Third quarter 2024 results: kr0.30 loss per share (further deteriorated from kr0.13 loss in 3Q 2023). Revenue: kr71.9m (up 2.8% from 3Q 2023). Net loss: kr15.9m (loss widened 139% from 3Q 2023). Revenue is forecast to grow 26% p.a. on average during the next 3 years, compared to a 6.9% growth forecast for the Electrical industry in Germany. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 44% per year, which means it is significantly lagging earnings. Breakeven Date Change • Oct 08
Forecast to breakeven in 2026 The 3 analysts covering PowerCell Sweden expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of kr14.6m in 2026. Average annual earnings growth of 65% is required to achieve expected profit on schedule. New Risk • Oct 02
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of German stocks, typically moving 12% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (12% average weekly change). Minor Risk Less than 1 year of cash runway based on current free cash flow (-kr154m). Announcement • Sep 04
PowerCell Group Receives Approval in Principle from Den Norske Veritas for A Combined Methanol Reformer and Fuel Cell System PowerCell Group has received an Approval in Principle (AiP) from Den Norske Veritas (DNV) for a new Methanol-to-Power solution. This solution has a fully integrated methanol reformer from RIX Industries combined with the newly launched PowerCell Marine System 225. The complete product solution can offer a significant step in the maritime industry's transition to cleaner energy. Methanol is emerging as one additional fuel to hydrogen to support maritime decarbonisation and electrification since it is already available in most of the world's large harbors. The use of methanol can increase the availability of hydrogen for marine electrification. Therefore, PowerCell and RIX Industries have developed an integrated power system solution that reforms methanol into hydrogen used in a fuel cell, offering a clean, efficient energy source. This joint system simplifies integration, enhances safety and meets the marine industry's needs. New Risk • Aug 30
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next 2 years. Trailing 12-month net loss: kr50m Forecast net loss in 2 years: kr1.4m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Minor Risks Less than 1 year of cash runway based on current free cash flow (-kr154m). Currently unprofitable and not forecast to become profitable over next 2 years (kr1.4m net loss in 2 years). Share price has been volatile over the past 3 months (8.1% average weekly change). Reported Earnings • Jul 20
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: kr66.3m (up 6.3% from 2Q 2023). Net loss: kr8.57m (loss narrowed 61% from 2Q 2023). Revenue is forecast to grow 27% p.a. on average during the next 3 years, compared to a 7.6% growth forecast for the Electrical industry in Germany. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has fallen by 50% per year, which means it is significantly lagging earnings. Announcement • Jun 28
PowerCell's CFO Torbjörn Gustafsson Will Leave the Group At the End of 2024 Torbjörn Gustafsson came to PowerCell as COO in 2022 and later that year assumed the role of CFO. Torbjörn Gustafsson will remain in PowerCell until the end of the year to assist in the handover to the successor. The recruitment of a new CFO will begin immediately. New Risk • Jun 10
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of German stocks, typically moving 10% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (10% average weekly change). Minor Risks Less than 1 year of cash runway based on current free cash flow (-kr106m). Currently unprofitable and not forecast to become profitable over next 2 years (kr6.2m net loss in 2 years). Reported Earnings • Apr 26
First quarter 2024 earnings released: kr0.66 loss per share (vs kr0.46 loss in 1Q 2023) First quarter 2024 results: kr0.66 loss per share (further deteriorated from kr0.46 loss in 1Q 2023). Revenue: kr52.1m (up 3.1% from 1Q 2023). Net loss: kr25.1m (loss widened 4.1% from 1Q 2023). Revenue is forecast to grow 26% p.a. on average during the next 3 years, compared to a 7.2% growth forecast for the Electrical industry in Germany. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has fallen by 53% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 31
Full year 2023 earnings released: kr1.21 loss per share (vs kr1.12 loss in FY 2022) Full year 2023 results: kr1.21 loss per share (further deteriorated from kr1.12 loss in FY 2022). Revenue: kr310.3m (up 27% from FY 2022). Net loss: kr63.0m (loss widened 8.2% from FY 2022). Revenue is forecast to grow 24% p.a. on average during the next 3 years, compared to a 7.7% growth forecast for the Electrical industry in Germany. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has fallen by 54% per year, which means it is significantly lagging earnings. Announcement • Mar 27
PowerCell Sweden AB (publ) to Report Fiscal Year 2023 Results on Mar 28, 2024 PowerCell Sweden AB (publ) announced that they will report fiscal year 2023 results on Mar 28, 2024 Reported Earnings • Feb 09
Full year 2023 earnings released: kr1.57 loss per share (vs kr1.12 loss in FY 2022) Full year 2023 results: kr1.57 loss per share (further deteriorated from kr1.12 loss in FY 2022). Revenue: kr310.3m (up 27% from FY 2022). Net loss: kr63.0m (loss widened 8.2% from FY 2022). Revenue is forecast to grow 25% p.a. on average during the next 3 years, compared to a 8.2% growth forecast for the Electrical industry in Germany. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has fallen by 55% per year, which means it is significantly lagging earnings. New Risk • Nov 28
New major risk - Revenue and earnings growth Earnings have declined by 38% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (9.7% average weekly change). Earnings have declined by 38% per year over the past 5 years. Breakeven Date Change • Nov 24
Forecast breakeven date moved forward to 2024 The analyst covering PowerCell Sweden previously expected the company to break even in 2025. New forecast suggests losses will reduce by 23% to 2023. The company is expected to make a profit of kr3.00m in 2024. Average annual earnings growth of 132% is required to achieve expected profit on schedule. New Risk • Nov 06
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of German stocks, typically moving 8.5% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (8.5% average weekly change). Minor Risk Currently unprofitable and not forecast to become profitable over next 2 years (kr985k net loss in 2 years). Announcement • Oct 24
PowerCell Sweden AB (publ) to Report Q3, 2024 Final Results on Oct 17, 2024 PowerCell Sweden AB (publ) announced that they will report Q3, 2024 final results on Oct 17, 2024 Reported Earnings • Oct 22
Third quarter 2023 earnings released: kr0.22 loss per share (vs kr0.38 loss in 3Q 2022) Third quarter 2023 results: kr0.22 loss per share (improved from kr0.38 loss in 3Q 2022). Revenue: kr69.9m (up 26% from 3Q 2022). Net loss: kr6.65m (loss narrowed 67% from 3Q 2022). Revenue is forecast to grow 32% p.a. on average during the next 3 years, compared to a 8.5% growth forecast for the Electrical industry in Germany. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has fallen by 43% per year, which means it is significantly lagging earnings. Recent Insider Transactions • Sep 27
President & CEO recently bought €26k worth of stock On the 18th of September, Richard Berkling bought around 5k shares on-market at roughly €5.20 per share. This transaction amounted to 50% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Richard has been a buyer over the last 12 months, purchasing a net total of €60k worth in shares. Reported Earnings • Jul 19
Second quarter 2023 earnings released: kr0.52 loss per share (vs kr0.33 loss in 2Q 2022) Second quarter 2023 results: kr0.52 loss per share (further deteriorated from kr0.33 loss in 2Q 2022). Revenue: kr62.4m (up 8.9% from 2Q 2022). Net loss: kr22.2m (loss widened 28% from 2Q 2022). Revenue is forecast to grow 35% p.a. on average during the next 3 years, compared to a 8.4% growth forecast for the Electrical industry in Germany. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has fallen by 36% per year, which means it is significantly lagging earnings. Breakeven Date Change • Jul 19 The 3 analysts covering PowerCell Sweden previously expected the company to break even in 2025. New consensus forecast suggests losses will reduce by 17% per year to 2024. The company is expected to make a profit of kr1.72m in 2025.
Breakeven Date Change • May 10
No longer forecast to breakeven The 3 analysts covering PowerCell Sweden no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of kr20.0m in 2025. New consensus forecast suggests the company will make a loss of kr22.0m in 2025. Reported Earnings • Mar 27
Full year 2022 earnings released: kr1.12 loss per share (vs kr1.44 loss in FY 2021) Full year 2022 results: kr1.12 loss per share (improved from kr1.44 loss in FY 2021). Revenue: kr244.7m (up 53% from FY 2021). Net loss: kr58.2m (loss narrowed 23% from FY 2021). Revenue is forecast to grow 26% p.a. on average during the next 3 years, compared to a 8.5% growth forecast for the Electrical industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 62 percentage points per year, which is a significant difference in performance. Breakeven Date Change • Feb 19
Forecast to breakeven in 2025 The 4 analysts covering PowerCell Sweden expect the company to break even for the first time. New consensus forecast suggests losses will reduce by 18% per year to 2024. The company is expected to make a profit of kr5.44m in 2025. Average annual earnings growth of 55% is required to achieve expected profit on schedule. Reported Earnings • Feb 14
Full year 2022 earnings released: kr1.12 loss per share (vs kr1.44 loss in FY 2021) Full year 2022 results: kr1.12 loss per share (improved from kr1.44 loss in FY 2021). Revenue: kr244.7m (up 53% from FY 2021). Net loss: kr58.2m (loss narrowed 23% from FY 2021). Revenue is forecast to grow 26% p.a. on average during the next 3 years, compared to a 8.7% growth forecast for the Electrical industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 58 percentage points per year, which is a significant difference in performance. Announcement • Feb 13
PowerCell Sweden AB (publ), Annual General Meeting, Apr 19, 2023 PowerCell Sweden AB (publ), Annual General Meeting, Apr 19, 2023. Announcement • Feb 04
Powercell Develops Next Generation Aviation Fuel Cells as Part of the EU's Clean Aviation Joint Undertaking PowerCell has joined the Newborn project, part of EU's Clean Aviation Joint Undertaking, that aims to develop environmentally sustainable aviation. The project will focus on developing an aerospace-certified megawatt-class fuel cell propulsion system, which will be powered by hydrogen. The EU´s Clean Aviation Joint Undertaking encompasses a total of 20 projects with a budget exceeding EUR 700 million and aims to support the EU Green Deal. The Newborn project is led by Honeywell, a leader in the global aviation industry, together with 18 partners from ten European countries. PowerCell will bring its knowledge and fuel cell technology onboard the Newborn project and develop a new 300 kW product platform. PowerCell has a leading position in fuel cell electric powertrains for aviation and recently signed a contract with ZeroAvia for the industry's first series deliveries of fuel cell stacks for aircrafts. Many other industries have the same requirements for high power density for a fuel stack as the aviation industry. Therefore, PowerCell expects to be able to apply this future product platform to other customer segments which have high demands on durability and resistance. Announcement • Sep 17
Powercell Sweden AB (Publ) Appoints Torbjörn Gustafsson as CFO PowerCell's Chief Operating Officer Torbjörn Gustafsson assumes the position as CFO. By combining both roles, Torbjörn Gustafsson gains good insights and control to support PowerCell in its continued growth journey. Torbjörn Gustafsson took over as Chief Operating Officer last spring and has extensive experience in senior positions, most recently as CFO in Christian Berner Tech Trade AB. He has previously, among other things, been CFO for KappAhl and held managerial positions in AB Volvo. Torbjörn Gustafsson takes over as CFO as of today. Former CFO Karin Lidén has chosen to leave PowerCell to pursue new opportunities outside the Group. Reported Earnings • Jul 20
Second quarter 2022 earnings released: kr0.32 loss per share (vs kr0.50 loss in 2Q 2021) Second quarter 2022 results: kr0.32 loss per share (up from kr0.50 loss in 2Q 2021). Revenue: kr57.3m (up 103% from 2Q 2021). Net loss: kr17.3m (loss narrowed 33% from 2Q 2021). Over the next year, revenue is forecast to grow 47%, compared to a 11% growth forecast for the industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 124 percentage points per year, which is a significant difference in performance. Announcement • Jun 13
Fuel Cell System from PowerCell on Board the First Prototype Hydrogen-Electric Hauler The power on the first hydrogen-electric and entirely emissions-free articulated hauler prototype, built by Volvo Construction Equipment, is generated by a fuel cell system from PowerCell Sweden. This follows the completion of a research project also involving RISE Research Institutes of Sweden and FFI, an alliance between Swedish Innovation Agency, Swedish Energy Agency and Swedish Transport Administration. The HX04 hydrogen-electric articulated hauler is a concept vehicle equipped with an industrialized fuel cell system from PowerCell Sweden that is specially designed for the vehicle and application. The hauler will initially be used for tests at Volvo Construction Equipment's facility in Braås where the company has developed full testing capacity including a hydrogen refueling station. The six-wheel vehicle weighs 35 tons and can be filled with 12 kg of hydrogen in 7.5 minutes, which is good for about four hours of operation. Since the vehicle is filled with green hydrogen, it does not produce any emissions when in use other than clean water. Last year, PowerCell Sweden presented a comprehensive product portfolio optimized for electrification in the off-road segment. The portfolio comprises fuel cell systems with an output from 60kW up to multiple megawatts. The HX04 hydrogen-electric hauler was developed as part of a research project running between 2018 and 2022, funded by FFI which involved the participation of Volvo Construction Equipment, PowerCell Sweden AB and RISE Research Institutes of Sweden. Announcement • May 04
PowerCell Sweden AB (publ) Elects Kajsa Ryttberg-Wallgren as New Director of the Board PowerCell Sweden AB (publ) announced that at its Annual General Meeting held on May 3, 2022, approved the election of Kajsa Ryttberg-Wallgren as new director of the board. Reported Earnings • May 01
First quarter 2022 earnings released First quarter 2022 results: Revenue: kr30.0m (flat on 1Q 2021). Net loss: kr24.5m (loss widened 49% from 1Q 2021). Over the next year, revenue is forecast to grow 76%, compared to a 11% growth forecast for the industry in Germany. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 5 non-independent directors. Independent Director Helen Gillstedt was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Apr 03
Full year 2021 earnings released: kr1.44 loss per share (vs kr2.24 loss in FY 2020) Full year 2021 results: kr1.44 loss per share (up from kr2.24 loss in FY 2020). Revenue: kr159.8m (up 54% from FY 2020). Net loss: kr75.1m (loss narrowed 36% from FY 2020). Over the next year, revenue is forecast to grow 71%, compared to a 14% growth forecast for the industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 124 percentage points per year, which is a significant difference in performance. Announcement • Mar 29
PowerCell Sweden AB (publ) to Report Fiscal Year 2021 Results on Mar 28, 2022 PowerCell Sweden AB (publ) announced that they will report fiscal year 2021 results on Mar 28, 2022 Reported Earnings • Feb 13
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: kr1.44 loss per share (up from kr2.24 loss in FY 2020). Revenue: kr159.8m (up 54% from FY 2020). Net loss: kr75.1m (loss narrowed 36% from FY 2020). Revenue exceeded analyst estimates by 15%. Over the next year, revenue is forecast to grow 59%, compared to a 15% growth forecast for the industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 104 percentage points per year, which is a significant difference in performance. Announcement • Feb 12
PowerCell Sweden AB (publ) to Report Q3, 2022 Results on Oct 20, 2022 PowerCell Sweden AB (publ) announced that they will report Q3, 2022 results on Oct 20, 2022 Reported Earnings • Aug 21
Second quarter 2021 earnings released The company reported a solid second quarter result with reduced losses, improved revenues and improved control over expenses. Second quarter 2021 results: Revenue: kr28.2m (up 28% from 2Q 2020). Net loss: kr25.9m (loss narrowed 49% from 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 71% per year, which means it is well ahead of earnings. Announcement • Jul 01
Saga Pure ASA (OB:SAGA) acquired 29% stake in Hyon As from PowerCell Sweden AB (publ) (OM:PCELL). Saga Pure ASA (OB:SAGA) acquired 29% stake in Hyon As from PowerCell Sweden AB (publ) (OM:PCELL) on June 29, 2021. Hyon joint venture has been owned in equal parts by PowerCell and the Norwegian companies Hexagon and Nel. Saga, Nel and Norwegian Hydrogen will each have an ownership of 29% of Hyon, and key employees will hold the remaining shares. Jorn Kristian Lindtvedt, appointed as Chief Executive Officer of the company and Harald Hansen as Director of Project Development & Commercial.
Saga Pure ASA (OB:SAGA) completed the acquisition of 29% stake in Hyon As from PowerCell Sweden AB (publ) (OM:PCELL) on June 29, 2021. Announcement • May 22
PowerCe Swededen AB Presents Industrialized Fuel Cell Module Optimized for Marie Power Solutions PowerCe Swededen AB is presenting PowerCellution Marine System 200, an industrializ high-power fuel cell module w with low weight and a compact format, especially developed for the electrification of marine applications. Marie System 200 is the basic building block in PowerCell Sweden's complete hydrogen-electric solutions for the marine segment and can be connected in parallel to achieve power in the megawatt range. Against the background of more stringent emission regulations for the marine vessels, the marine segment is facing a transition to new drive systems and fuels. The International Maritime Organization, IMO, has mandated that emissions from commercial marine vessels should be cut by 50% by 2050, and in addition to that there are several national initiatives, such as the upcoming more stringent emission requirements for marine vessels travelling the Norwegian fjords. Since marine vessels have a long operating life, the industry soon has to initiate the transition to zero emission solutions to avoid having a fleet that does not meet upcoming requirements. Last year PowerCell Sweden presented its prioritized strategic growth segments, and the marine segment is one of these. The now presented industrialized high-power module PowerCellution Marine Systems 200, has been developed to facilitate the transition to more stringent emissions regulations for customers in the marine segment. The module is built on several fuel cell systems that has been integrated into a single unit. Each module has a power of 200 kW but can easily be connected in parallel to achieve power in the megawatt range. PowerCellution Marine System 200 is building on PowerCell Sweden's long -standing technical leadership within fuel cell stacks and systems. The module, which has been developed in close collaboration with customers and in dialogue with leading maritime classification societies, is fully classifiable in accordance with IMO's marine standards and requirements. The main component is the proven PowerCell S3 fuel cell stack which is combining high power with a compact format. In April last year, PowerCell Sweden AB communicated an order for a 3.2 MW marine fuel cell system from a leading European shipyard an earlier this year, PowerCell Sweden received an order for a marine fuel cell module from Norwegian Prototech AS. Fuel cells running on hydrogen produced from renewable energy sources, so called green hydrogen, do not produce any other emissions than pure water and offer a fully sustainable electrification of a marine power units for both propulsion and on-board power generation purposes. Reported Earnings • Mar 26
Full year 2020 earnings released: kr2.24 loss per share (vs kr8.45 profit in FY 2019) The company reported a mediocre full year result with weaker earnings and weaker control over costs, although revenues improved. Full year 2020 results: Revenue: kr103.5m (up 55% from FY 2019). Net loss: kr116.6m (down 127% from profit in FY 2019). Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has increased by 113% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Mar 16
Powercell Sweden AB Receives Follow-On Order for Fuel Cell Systems from ZeroAvia Worth SEK 5.1 million PowerCell Sweden AB has received a follow-on order for MS-100 fuel cell systems from the aviation start-up ZeroAvia worth MSEK 5.1. The order is expected to be delivered during the second and third quarter 2021. In September last year, ZeroAvia conducted the world's first hydrogen electric flight of a commercial airplane. The plane, a single-engine six-seater Piper Malibu, carried out an eight-minute flight and reached an altitude of 1,000 feet and a speed of 100 knots. The plane had a hydrogen-electric powertrain where an PowerCell MS-100 fuel cell system was an integral part. ZeroAvia now continues the development of zero emissions aircraft drivetrains by placing a follow-on order for further MS-100 fuel cell systems. Announcement • Mar 12
PowerCell Sweden Receives Order from Prototech AS for A Marine Fuel Cell Module PowerCell Sweden has received an order for a 185 kW marine fuel cell high-power module from the Prototech AS. The module will be delivered during the fourth quarter and is intended for use in marine drivetrain development and demonstration projects. The module will be integrated as part of testing infrastructure for sustainable marine power solutions and future fuels, within the Sustainable Energy Catapult Centre at Stord, south of Bergen. Prototech, together with key industry partners, will use the module in various development projects to test and demonstrate how fuel cell-based power solutions can be used in the development of zero emission solutions for the marine segment. Announcement • Feb 03
PowerCell Sweden AB Launches PowerCellution New Brand for Products and Services PowerCell Sweden AB (publ) is now launching the brand PowerCellution for the sales and marketing of fuel cell-related products and services. The brand is launched to manifest the development towards becoming a supplier of systems and solutions, rather than of individual fuel cell stacks. Until now, PowerCell Sweden AB has marketed all fuel cell products, stacks as well as systems and services, under the PowerCell brand. The constantly rising attention to climate and environmental issues has led to a sharp increase in interest in fuel cell-based hydrogen-electric solutions. Fuel cells that run on green hydrogen, i.e., hydrogen produced from renewable energy sources, can generate completely sustainable energy without any harmful emissions. The PowerCellution brand is fully owned by PowerCell Sweden AB and will be used for product offerings within fuel cell systems and fuel cell stacks, but also for current and future service offerings. In order to secure and establish the brand, and thereby strengthen the company's sales and marketing efforts, the brand is trademarked in the vast majority of key markets worldwide. In parallel with the work to register the brand name, the company has also registered and protected the graphic symbol, the stylized leaf, that will be used together with PowerCellution name. Announcement • Jan 29
Powercell Receives Order for MS-100 Fuel Cell System from University of Texas PowerCell Sweden AB has received an order for a MS-100 fuel cell system from the University of Texas, USA. The system will be part of a fuel cell-based solution for stationary power developed jointly with Hitachi ABB Power Grids. The system will be delivered by mid-2021. The fuel cell-based solution will be used at the Texas Advanced Computing Center, TACC, University of Texas, to demonstrate how renewable hydrogen can be used to decarbonize energy consumption. The solution will be based on a PowerCell MS-100 fuel cell system from PowerCell Sweden. The stationary power solution for TACC is the first concrete project, following the memorandum of understanding regarding stationary fuel cell power solutions, that PowerCell Sweden and Hitachi ABB Power Grids signed in June 2020. Is New 90 Day High Low • Jan 23
New 90-day high: €41.88 The company is up 88% from its price of €22.22 on 23 October 2020. The German market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electrical industry, which is up 45% over the same period. Announcement • Jan 13
PowerCell Sweden AB Receives Order for Fuel Cell System from A Leading Construction Equipment Manufacturer PowerCell Sweden AB has received an order for a MS-100 fuel cell system from a leading European construction equipment manufacturer. The system is expected to be delivered by the end of the first half of 2021. The customer will use the system for tests of how fuel cells and hydrogen can be used for an electrification of a wheel loader. In April last year, PowerCell Sweden AB launched new strategic priorities which, among other things, include an increased focus on off-road vehicles such as construction equipment. Is New 90 Day High Low • Jan 07
New 90-day high: €34.50 The company is up 51% from its price of €22.80 on 09 October 2020. The German market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electrical industry, which is up 34% over the same period. Announcement • Dec 19
PowerCell Sweden AB (publ) Receives Order for MS-100 Fuel Cell System for Stationary Power in Australia PowerCell Sweden AB has received an order for a PowerCell MS-100 fuel cell system from the Australian company ENGV for delivery during the first quarter 2021. The system will be used in a stationary hydrogen power demonstration project. The unit will be installed as part of Australia's first hydrogen stationary power demonstration plant in Denham, Western Australia. The hybrid solar and hydrogen power system, which is a project being developed by Horizon Power, will test the technical capability of hydrogen as a dispatchable power source in remote microgrids. The project has received funding from both the Australian Renewable Energy Agency (ARENA) and the Western Australian Government. PowerCell's customer is a supplier to Horizon Power. The plant comprises a 704 kW solar farm, a 348 kW electrolyzer for production of hydrogen and compressor and tanks for storage of the produced hydrogen. The 100 kW MS-100 fuel cell system from PowerCell Sweden will use the stored hydrogen to power both the electrolyzer and to produce heat and electricity. To support the use of hydrogen as energy and for storage of energy, Australia last year. Is New 90 Day High Low • Dec 18
New 90-day high: €29.38 The company is up 31% from its price of €22.50 on 18 September 2020. The German market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electrical industry, which is up 19% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share. Announcement • Dec 18
PowerCell Receives Order for Two Fuel Cell Systems from Global U.S. Agriculture Equipment Manufacturer PowerCell Sweden AB has received an order for two MS-100 fuel cell systems from a global U.S. agriculture equipment manufacturer. The systems will be used to test an electrification of tractors using fuel cells and hydrogen and will be delivered during the fourth quarter 2020 and the first quarter 2021 respectively. The MS-100 fuel cell system has been developed for an electrification of, among other things, vehicles within the off-road segment, i.e., material handling equipment, construction equipment and various other types of vehicles such as agriculture equipment. The off-road segment requires reliable operation, high power output and flexibility but also a good ability to withstand shocks and vibrations. The current order has been placed by a major manufacturer of agriculture equipment and the systems will be used to test an electrification of tractors using fuel cells and hydrogen. Earlier this year, PowerCell Sweden announced new strategic priorities including a prioritization of applications within the marine, stationary and the off-road segment. The new priorities are a consequence of the joint development and licensing agreement regarding PowerCell S3 for the automotive segment signed with Bosch last year. Is New 90 Day High Low • Dec 02
New 90-day high: €27.88 The company is up 25% from its price of €22.30 on 03 September 2020. The German market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electrical industry, which is up 11% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share. Reported Earnings • Nov 07
Third quarter 2020 earnings released: kr0.45 loss per share The company reported a soft third quarter result with increased losses and weaker control over expenses, although revenues were improved. Third quarter 2020 results: Revenue: kr16.6m (up 9.9% from 3Q 2019). Net loss: kr23.8m (loss widened 145% from 3Q 2019). Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has increased by 79% per year, which means it is tracking significantly ahead of earnings growth. Analyst Estimate Surprise Post Earnings • Nov 07
Revenue misses expectations Revenue missed analyst estimates by 42%. Over the next year, revenue is forecast to grow 100%, compared to a 17% growth forecast for the Electrical industry in Germany. Announcement • Nov 07
Powercell Receives Order for Powercell S3 from Bosch At A Total Value of MSEK 9.7 PowerCell Sweden AB has received an order for PowerCell S3 fuel cell stacks from Bosch at a total value of approximately MSEK 9.7 (901,000 Euro). The order will be delivered during the beginning of next year and impact the earnings for the first quarter 2021. The order comprises several PowerCell S3 fuel cell stacks to be delivered to Bosch within the framework of the joint development and licensing agreement. In April 2019Robert Bosch GmbH and PowerCell Sweden signed an agreement regarding the development, production and sale of the PowerCell S3 fuel cell stack for the automotive segment. The agreement includes a joint development of the S3 and a license whereby Bosch gets the exclusive right to produce and sell the new and improved version of PowerCell S3 for automotive applications such as cars, trucks and buses. Announcement • Sep 25
PowerCell Sweden AB (publ) to Report Q4, 2020 Results on Feb 25, 2021 PowerCell Sweden AB (publ) announced that they will report Q4, 2020 results on Feb 25, 2021 Is New 90 Day High Low • Sep 22
New 90-day low: €21.16 The company is down 25% from its price of €28.20 on 24 June 2020. The German market is up 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electrical industry, which is up 16% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share. 
