PowerCell Sweden AB (publ) (PCELL) Q4 2025 Earnings Call

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WEBVTT 00:00:00.908 -- 00:00:05.537 Welcome to the PowerCell Group Q4 2025 report presentation. 00:00:05.537 -- 00:00:09.705 For the first part of the presentation, participants will be in listen-only mode. 00:00:09.705 -- 00:00:14.434 During the questions and answers session, participants are able to ask questions by dialing 00:00:14.434 -- 00:00:20.045 pound key 5 on their telephone keypad. Now, I will hand the conference over to the CEO, 00:00:20.045 -- 00:00:22.811 Richard Berkling, and CFO, Anders Doering. 00:00:22.811 -- 00:00:25.291 Please go ahead. 00:00:25.782 -- 00:00:28.467 Good morning and thank you for joining us. 00:00:28.467 -- 00:00:33.698 2025 was an important year for Powercell, not because everything moved 00:00:33.698 -- 00:00:36.944 fast, but because the right things moved forward. 00:00:36.944 -- 00:00:42.555 We operated in a market where interest in hydrogen and fuel cell clearly increased, 00:00:42.555 -- 00:00:47.095 but the investment decision remained cautious and uneven, which affected the market. 00:00:47.095 -- 00:00:52.426 That combination of market conditions requires discipline more than optimism 00:00:52.426 -- 00:00:57.136 and execution more than ambition. And that is what we saw in 2025 and what we will present 00:00:57.136 -- 00:01:02.247 here in this quarter four presentation. So again, that backdrop, Parcel continued our 00:01:02.247 -- 00:01:06.637 shift from technology development to more industrial execution. 00:01:06.637 -- 00:01:10.922 We delivered a record year when it comes to several aspects. 00:01:10.922 -- 00:01:15.948 We have improved margins materially. We generated positive EBITDA for 00:01:15.948 -- 00:01:20.094 the first time for a full year. And we strengthened our cash position. 00:01:20.094 -- 00:01:25.360 All ...