PowerCell Sales Slide in Cautious Market as Maritime Fuel Cell Projects Advance

An announcement from PowerCell Sweden AB ( (SE:PCELL) ) is now available.

PowerCell Sweden AB reported a weak first quarter of 2026, with net sales falling 37% year-on-year to SEK 46.9m and gross margin dropping to 22.4%. The company posted an operating loss of SEK 40.4m, a widened net loss of SEK 39.8m and negative operating cash flow of SEK 92.7m, reflecting slow market conversion and a cautious demand environment.

Despite the downturn, PowerCell deepened its strategic positioning in maritime fuel cell solutions by joining the EU-funded GAMMA and MiNaMi projects, including work on a hydrogen-based bulk carrier retrofit and Europe’s first megawatt-scale maritime PEM system. The company also addressed media criticism of its technology by stressing it relies on newer generations and updated industrial processes, while its nomination committee proposed Katarina Bonde as the new chair of the board, signaling ongoing governance development.

The most recent analyst rating on (SE:PCELL) stock is a Hold with a SEK37.00 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 hydrogen fuel cell industry, developing and supplying Proton Exchange Membrane (PEM) fuel cell systems. The company focuses on applications such as maritime propulsion and retrofitting vessels with hydrogen-based solutions, targeting the transition to cleaner energy in European and global transport markets.

Average Trading Volume: 457,605

Technical Sentiment Signal: Strong Sell

Current Market Cap: SEK1.41B

See more data about PCELL stock on TipRanks’ Stock Analysis page.