Forsee Power climbs 9% after the supplier of battery systems for electromobility announces sales of 52.8 million euros for the first quarter of 2024, up 39.8% compared with the same period in 2023.

This good performance was driven by strong sales momentum in the heavy-duty vehicle segment, which rose by 50% to 47 million euros, while business in the light-duty vehicle segment contracted by 10.2% to less than 5.8 million.

At the same time, on the strength of a 2024 firm order backlog up to 150 million euros, Forsee Power confirms its targets for revenues of between 180 and 200 million euros, and for breakeven adjusted EBITDA for the current year.

Copyright (c) 2024 CercleFinance.com. All rights reserved.