Total sales for the second quarter 2020 amounted to 22,064 TSEK compared to 15,522 TSEK the same quarter previous year, an increase by 42 percent. Operating income before items affecting comparability amounted to -28,270 TSEK compared to -16,713 TSEK during the second quarter 2019.
The reason for the decline in operating income before items affecting comparability is lower gross margin linked to specific customer projects, currency effects and deliberately higher costs for selling and administration. Increased costs for research and development, linked to a technically more advanced customer project, have also negatively affected the operating income.
Operating income after items affecting comparability amounted to -28,270 (513,828) TSEK for the period April to
"Our sales developed well during the quarter due to continued large sales to Bosch and to the order from a leading European shipbuilder. Deliveries for both these orders will take place continuously over a longer period but have both already impacted the second quarter positively",
The global Corona virus outbreak has continued to have an impact on the activity level in
Financial highlights
All amounts in TSEK 2020 2019 2020 2019
Apri-June Apri-June Jan-June Jan-June
Net sales 22,064 15,552 48,790 24,778
Operating income before -28,270 -16,713 -45,880 34,517
items affecting
comparability
Operating income -28,270 513,828 -45,880 493,916
Profit/loss after tax -50,269 508,942 -42,476 448,704
Operating cash flow -10,996 424,867 -43,696 414,909
For further information, please contact:
Karin Nilsson
CEO,
Phone: +46 (0) 31 720 36 20 +46 705 59 11 49
Email: karin.nilsson@powercell.se Email: marten.wikforss@powercell.se
This information is insider information that
About
PowerCell (http://www.powercell.se/) was founded in 2008 as an industrial spinout from the
https://news.cision.com/powercell-sweden-ab/r/higher-sales-but-lower-profiability-due-to-currency-effects-and-increased-costs,c3176349
https://mb.cision.com/Main/16816/3176349/1294458.pdf
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