Interim report January-March 2023

Improved profitability and focus on development

During the first quarter, we saw a stabilization of our battery deliveries at the same time as we are receiving distinct signals of growing demand for electrified vehicles from several of our customers. 

Production has increased from the somewhat lower level of the end of 2022. Net sales reached MSEK 21.9 with operating income amounting to MSEK -6.6 (-13.0). The result was positively impacted by an increase of customers’ prices. 

The order book for 2023 totals MSEK 230, which is the result of the battery systems ready for series production that now are on the market and reaching customers. A continued strong growth is to be expected, as the electrification of heavy-duty vehicles is on the rise. We are also seeing the same trend within the off-highway segment, which we are focusing on. The discussions regarding cooperation with Exide Technologies are continuing in line with the press release from January, in parallel with the cultivation of new customers in Europe.

The first quarter 2023 compared to the same period previous year

• Net sales decreased to MSEK 21.9 (24.2)
• Order intake decreased to MSEK 0.0 (8.5)
• Operating costs for personnel, other external charges and depreciation decreased to MSEK -18.0 (-20.9)
• Operating income amounted to MSEK -6.6 (-13.0)
• Net profit or loss amounted to MSEK -8.2 (-13.7)
• Cash flow from operating activities amounted to MSEK 10.6 (-18.6)

Our focus on a newly developed battery system with a greater degree of standardization and modularization is proceeding according to plan. Demand for further standardization is emerging both from customers that ramp up their volumes and from our own pursuit of streamlining measures and cost reductions with a view to boosting margins. We are planning for volume production of existing batteries at the same time as we are carrying out new development to manage a generation change in the coming year.

Significant events during the quarter

Alelion and Exide Technologies have engaged in discussions to explore the potential of long-term cooperation focusing on production and sales of high-voltage lithium-ion battery systems.

This disclosure contains information that Alelion Energy Systems AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 26-04-2023 08:30 CET.

CEO Åsa Nordström  +46 702 90 18 58,
email: asa.nordstrom@alelion.com

CFO Christian Bergaust +46 702 93 50 40,
email: christian.bergaust@alelion.com

Chairman of the Board Alf Blomqvist +46 733 14 97 00,
email: alf@blomqvistunlimited.com

About Alelion Energy Systems AB (publ)
Alelion is a lithium-ion technology solution provider, that develops and manufactures battery systems in in Sweden’s first large scale battery factory. Alelion makes clients succeed with their electrification of off-highway vehicles and transformation to more sustainable use of energy. Alelion invests to stay at the forefront and offers the latest proven technology, tailored to the specific needs of its customers and end users. Alelion is headquartered in Gothenburg, Sweden. Alelion’s share is traded on Nasdaq First North Growth Market (ALELIO).
We give the power to take climate action. alelion.com

Alelion’s major owners are Fouriertransform, Blomqvist Listed Sustainability and Pegroco Holding. The company’s share (ALELIO) is traded on Nasdaq First North Growth Market, Stockholm, with G&W Fondkommission as Certified Adviser.

Alelion Energy Systems AB
Sörredsbacken 4, SE-418 78 Göteborg
info@alelion.com

Direct link to press releases