Full-Year Positive EBITDA and Improved Margins
PowerCell delivered positive EBITDA for the first time for a full year, materially improved margins and strengthened its cash position, demonstrating operational discipline and industrial execution.
Strong Organic Revenue Growth (FX-Adjusted)
Reported full-year revenue growth was 15% YoY; adjusted for FX and extraordinary items the underlying organic growth was ~24% year-over-year.
Significant EBITDA Improvement
EBITDA improved versus prior year by SEK 79 million on an adjusted basis (after removing FX and extraordinary items), reflecting cost control and operational leverage.
Record Product & Commercial Milestones
Start of production and on-time customer deliveries for the MS225 marine systems with commissioning underway; successful market launch of the power generation platform with immediate traction.
Major Orders and Bookings
Secured a SEK 43 million methanol-to-power industrial order with a European shipyard; follow-on aviation order of SEK 12 million plus SEK 5 million in engineering services; multiple fourth-quarter orders building to SEK 95 million.
Strategic Partnerships and Market Access
Industrial collaboration with Bosch matured the offering and provides a strong sales channel (notably into China); field validation agreement secured with a U.S. data center for power generation applications.
Market Position in Marine
After the marine system introduction, PowerCell estimates a market share of ~80–85% in its marine addressable segment and identifies marine as a stable execution backbone.
Operational Resilience and Scale-readiness
Company emphasized an asset-light model and ability to protect breakeven (around SEK 400 million) while remaining ready to scale; added liquidity via a credit facility tied to customer projects.
Long-Term Value Creation Since 2020
Management highlighted a ~720% increase in value-generating revenue since 2020 (shift from throughput to industrialized, value-creating sales).