PowerCell Grows Sales and Margins in 2025 While Strengthening Position in Hydrogen Fuel Cell Markets

PowerCell Sweden AB ( (SE:PCELL) ) has provided an update.

PowerCell Sweden AB reported full-year 2025 net sales growth of 15% to SEK 385m and a sharply improved gross margin of 45.2% despite remaining loss-making, with operating income at SEK -22.9m and net income at SEK -29.5m. The company’s fourth quarter was weaker, with sales down 34% and a return to operating losses, but operating cash flow turned positive in the quarter and the equity ratio stayed strong at 64.6%. Management is prioritizing reinvestment, with the board proposing no dividend for 2025, and the group secured several notable orders across marine, power generation and aerospace, including a SEK 43m methanol-to-power system for a European shipyard, a follow-up aerospace research order, and data-center validation projects, alongside joining the EU-funded GAMMA project and arranging an additional SEK 50m credit facility to support customer project financing. These moves underscore PowerCell’s strategy to deepen its position in hydrogen and fuel-cell markets while building a broader order base in key sectors, even as it works toward sustained profitability and navigates leadership changes with the current chairman stepping down in 2026.

The most recent analyst rating on (SE:PCELL) stock is a Hold with a SEK27.00 price target. To see the full list of analyst forecasts on PowerCell Sweden AB stock, see the SE:PCELL Stock Forecast page.

More about PowerCell Sweden AB

PowerCell Sweden AB operates in the clean energy sector, developing and supplying hydrogen fuel cell systems and methanol-to-power solutions for applications in marine, aerospace, data centers and other industrial power markets, with a focus on enabling zero-emission and low-carbon power generation.

Average Trading Volume: 295,107

Technical Sentiment Signal: Strong Sell

Current Market Cap: SEK1.5B

For an in-depth examination of PCELL stock, go to TipRanks’ Overview page.