PowerCell reports net sales increase with fuel cell interest from marine and aviation
PowerCell has reported an increase in sales for both the fourth quarter and entire year of 2023, despite facing profitability and operational challenges.
During Q4 2023, the company achieved a 25% increase in net sales, reaching SEK 127.5m ($12.2m) up from SEK 101.8m ($9.7m) in Q4 2022. This growth was due to “significant” orders within the aviation and marine sectors.
During the full year, PowerCell’s net sales increased by 27% to SEK 310.3m ($29.6m), compared to SEK 244.7m ($23.4m) in 2022, setting a new sales record for the company.
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