Interim report January-March 2023
Improved profitability and focus on development
During the first quarter, we saw a stabilization of our battery deliveries at the same time as we are receiving distinct signals of growing demand for electrified vehicles from several of our customers.
Production has increased from the somewhat lower level of the end of 2022. Net sales reached MSEK 21.9 with operating income amounting to MSEK -6.6 (-13.0). The result was positively impacted by an increase of customers’ prices.
The order book for 2023 totals MSEK 230, which is the result of the battery systems ready for series production that now are on the market and reaching customers. A continued strong growth is to be expected, as the electrification of heavy-duty vehicles is on the rise. We are also seeing the same trend within the off-highway segment, which we are focusing on. The discussions regarding cooperation with Exide Technologies are continuing in line with the press release from January, in parallel with the cultivation of new customers in Europe.
The first quarter 2023 compared to the same period previous year
· Net sales decreased to MSEK 21.9 (24.2)
· Order intake decreased to MSEK 0.0 (8.5)
· Operating costs for personnel, other external charges and depreciation decreased to MSEK -18.0 (-20.9)
· Operating income amounted to MSEK -6.6 (-13.0)
· Net profit or loss amounted to MSEK -8.2 (-13.7)
· Cash flow from operating activities amounted to MSEK 10.6 (-18.6)
Our focus on a newly developed battery system with a greater degree of standardization and modularization is proceeding according to plan. Demand for further standardization is emerging both from customers that ramp up their volumes and from our own pursuit of streamlining measures and cost reductions with a view to boosting margins. We are planning for volume production of existing batteries at the same time as we are carrying out new development to manage a generation change in the coming year.
Significant events during the quarter
Alelion and Exide Technologies have engaged in discussions to explore the potential of long-term cooperation focusing on production and sales of high-voltage lithium-ion battery systems.
This disclosure contains information that Alelion Energy Systems AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 26-04-2023 08:30 CET.