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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