gross sales up 40% to €52.8 million By Investing.com

• Q1 2024 gross sales up +39.8% to €52.8 million
  • Continued robust efficiency in heavy automobiles: +50% vs. Q1 2023 to €47.0 million
  • Slight decline in Mild Automobile gross sales vs. Q1 2023 to €5.7 million
• Agency order backlog1 for 2024 at €150 million, consistent with 2024 gross sales goal

PARIS–(BUSINESS WIRE)–Regulatory Information:

Forsee Energy (FR0014005SB3 – FORSEE – the “Firm”), professional in sensible battery methods for sustainable electromobility, as we speak broadcasts its gross sales for the primary quarter of 2024.

Christophe Gurtner, Founder & CEO of Forsee Energy states: “The primary quarter of 2024 has enabled us to put up an excellent gross sales efficiency, consistent with earlier quarters. Gross sales are anticipated to decelerate within the second half of the 12 months, as a consequence of a extra wait-and-see enterprise surroundings than anticipated and decrease part costs. Nevertheless, this context will assist quantity progress and the launch of recent electrical applications. Current partnership agreements and our geographical growth (Australia, Japan, North America) will allow us to return to a extra sustained progress dynamic. On the similar time, we’re persevering with to work on bettering the Firm’s profitability profile, and ensure our goal of reaching break-even adjusted EBITDA for the complete 12 months 2024”.

Breakdown of revenues by enterprise section

IFRS, unaudited

Forsee Energy posted gross sales of €52.8 million within the first quarter of 2024, up +39.8% vs. the primary quarter of 2023. This good efficiency was pushed by robust gross sales momentum within the heavy automobiles section, which reached €47.0 million, up +50% on Q1 2023. This market section accounted for 89% of quarterly gross sales. Gross sales within the mild automobile section fell barely to €5.8 million, as a consequence of a much less dynamic market than anticipated. On the similar time, the agency order guide for 2024 continues to develop, reaching €150 million.

Technique and outlook

In 2024, Forsee Energy intends to keep up dynamic exercise by remodeling its order guide into gross sales in its precedence excessive value-added markets: buses, off-highway automobiles (agricultural, development and industrial automobiles), railways, and lightweight automobiles.

The battery business is at present going through a pointy drop in materials prices, which can weigh on gross sales from the second half of 2024. This drop in prices ought to stimulate demand and speed up sure applications within the coming months, in a context of market consolidation that can favor Forsee Energy’s place as a benchmark participant in all of the geographies the place the Group is current.

Total, the Firm expects to generate annual gross sales of between €180 and €200 million.

Development drivers, particularly robust improvement with Japanese clients, in Australia and the efficient launch of the North American industrial website deliberate over the following few months (the primary batteries had been assembled firstly of April 2024), will allow us to proceed diversifying our buyer references and obtain additional progress in 2025.

On the similar time, Forsee Energy will concentrate on persevering with to enhance its profitability indicators, favouring a wholesome progress trajectory. The Firm thus confirms its goal of reaching break-even adjusted EBITDA for the complete 12 months 2024.

Subsequent monetary occasions

• Annual Normal Assembly, June 21, 2024
• Half-year gross sales 2024, July 25, 2024 at 7:30 am

About Forsee Energy

Forsee Energy is a French industrial group specializing in sensible battery methods for sustainable electrical transport (mild automobiles, off-highway automobiles, buses, vans, and trains). A serious participant in Europe, Asia, and North America, the Group designs, assembles, and provides power administration methods primarily based on cells which are among the many most sturdy out there and supplies set up, commissioning, and upkeep on website and remotely. Greater than 3,000 buses and 135,000 LEV have been geared up with Forsee Energy’s batteries. The Group additionally presents financing options (battery leasing) and second-life options for transport batteries. Forsee Energy and its 750 workers are dedicated to sustainable improvement and the Group has obtained the Gold medal from main sustainability ranking company EcoVadis. For extra data: www.forseepower.com | @ForseePower

1 Orders booked on April 1, 2024, which have been invoiced since January 1st, 2024 or will likely be invoiced by December 31, 2024.

View supply model on businesswire.com: https://www.businesswire.com/information/house/20240513962637/en/

Forsee Energy
Sophie Tricaud
VP Company affairs and Sustainability
buyers@forseepower,com

NewCap
Thomas Grojean
Investor Relations
forseepower@newcap,eu
+33 (0)1 44 71 94 94

NewCap
Nicolas Merigeau
Media Relations
forseepower@newcap,eu
+33 (0)1 44 71 94 98

Supply: Forsee Energy