Powercell Sweden Ab · OMXSTO:PCELL
Powercell Sweden Ab — Q3 2024 Earnings Presentation
16 slides from Powercell Sweden Ab's earnings presentation, Oct 17, 2024
Slide 1: The leading hydrogen-electric solutions provider
The leading hydrogen-electric solutions provider Q3 2024 Presentation
Slide 2: Today's presenters
Today’s presenters Richard Berkling Torbjörn Gustafsson CEO SVP, CFO and IR
Slide 3: Highlights in the quarter
Highlights in the quarter Strong market activity amid Robust market softer conditions fundamentals accelerating ✓ 3% growth in Q3 and 12% growth ✓ Rapid market acceleration: from start- over the last 12 months. of-negotiation to completed delivery. From 5 years to 18 months... ✓ Serial production to
Slide 4: Order from leading Italian marine OEM-manufacturer
Order from leading Italian marine OEM-manufacturer ✓ SEK 165m order, one of the world's largest orders of marine fuel cell systems to date ✓ Order consists of 56 Marine System 225 ✓ The fuel cell systems will provide auxiliary power to a ship’s internal electricity systems, totalling more than 6.3 M
Slide 5: Agreement for concept study for VTOL aircraft
Agreement for concept study for VTOL aircraft PowerCell and Australian aviation company in agreement for concept study on VTOL aircraft ✓ The electric vertical take-off and landing segment is exciting with many promising future commercial projects ✓ Hydrogen electric VTOL aircraft can allow for a go
Slide 6: Net sales development
Net sales development Q3 2024 sales growth Quarterly and rolling 12 months sales trends Net sales, SEKm ✓ Net sales Q3 +3% up to SEK 71.9m (69.9) Net sales R12M, SEKm 128 ✓ Net sales R12M +11.7% up to SEK 318 317.8m (284.6) 285 102 ✓ Royalty R12M was SEK 14.8m (15.6) 200 72 70 66 62 57 57 56 141 51
Slide 7: Gross margin development
Gross margin development Q3 2024 gross profit and margin Quarterly gross profit and rolling 12 months gross margin trend Gross profit, SEKm ✓ Gross profit Q3: SEK 23.1m Gross margin R12M, % 47% 46% ✓ Gross profit R12M: SEK 105.7m 46% 58 44% 42% ✓ Gross margin Q3: 32.1%, YTD: 30.8% 40% 38% 47 ✓ Gross
Slide 8: Positive trend for operating leverage
Positive trend for operating leverage Q3 2024 operating expenses Operating expenses rolling 12 months positive trend OPEX/Net sales R12M, % ✓ OPEX Q3: SEK -44.7m ✓ OPEX/net sales R12M: 63% 91% ✓ Keeping a stable level in operting leverage and continous focus on building capabilities 85% 86% and deve
Slide 9: Cash flow impacted by working capital
Cash flow impacted by working capital Q3 2024 operating cash flow Quarterly and rolling 12 months operating cash flow trend Operating cash flow, SEKm ✓ Operating Cash Flow Q3: SEK -7.4m (-51.9) Operating cash flow R12M, SEKm 39 ✓ Operating Cash Flow YTD: SEK -19.3m (-47) ✓ Operating Cash Flow R12: S
Slide 10: Strategic focus for 2024
Strategic focus for 2024 Key strategic priorities ✓ Focus on OEM customer orders ✓ Continued growth and expansion in the US ✓ Scaling existing product generation driving towards breakeven and balance the cash flow ✓ Accelerating industrialisation of next-generation product portfolio: ✓ Heavy Duty FC
Slide 11: New phase in the market
New phase in the market Commercial market growth from PowerCell have prepared for this…. OEM Business ✓ Invested in product offering ✓ New requirements ✓ Invested in internal abilities and capabilities ✓ New opportunities ✓ Invested in productivity and internal efficiency ✓ Invested in industrial st
Slide 12: Continuing our growth journey
Continuing our growth journey Key achievements Sales across products, services and geographies ✓ Industrialised production established ✓ Introduced our offering “Industrialised Sales mix breakdown 2023 Innovation” ✓ First-mover advantage from building Hardware, 30% application knowledge 310 Services
Slide 13: Strong market drivers
Strong market drivers Key factors ✓ De-carbonization is no longer the only driver in this Energy Transition: o Air pollution from combustion o Increased demand for electricity in society o Slow down in battery electrification deployement open up window of opportunity for Hydrogen Electrification in
Slide 14: Summary
Summary Strong market drivers Leading technology Commercial deliveries ✓ Accelerating transition to emission-free ✓ Best validated fuel cell stack technology in ✓ Starts serial deliveries to commercial energy the industry applications ✓ Supranational initiatives – US Inflation ✓ Reliable, high-power
Slide 15: Upcoming report
Upcoming report Key date ✓ Interim report Q4 and year-end report Q4 2024: 13 February 2025 ✓ Interim report Q1 2025, April 24 ✓ Annual General Meeting, April 29 ✓ Interim report first half year 2025, July 17 ✓ Interim report Q3 2025, October 23 ✓ Interim report Q4 and year-end report 2025, February
Slide 16: Q&A
Q&A 16 PowerCell Group I Q3 2024 Presentation