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Cell Impact Q1 2024: Laying the groundwork for large-volume deliveries

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During and after the quarter, Cell Impact AB (publ) received orders and signed agreements that have broadened the customer base and prepared the company to increase production in line with the growing demand from existing and new customers.

During the quarter, Cell Impact continued to deepen the cooperation with F.C.C. which after the end of the quarter led to two formal agreements. The first is a formal extension of the current cooperation agreement in the form of a leasing agreement and the other is a framework agreement that regulates the conditions for continued cooperation between the companies.

In March, the company announced its first deal in the area of electrolysis. The agreement extends over 30 months and was signed with a new European customer. It includes an initial delivery of flow plates, tooling and fixtures worth just over SEK 18 million.

One proof that customers need the company’s expertise and offerings is evident in the large number of concrete test tools being requested. We are seeing great interest from existing, new and prospective customers in the production lines which among other things include forming, high-precision punching and laser welding.

“The great interest gives me great confidence in the company’s future development. Our secured financing for 2024 and into 2025 gives us the platform we need to translate some of these projects into new revenues, “ said Daniel Vallin, interim CEO of Cell Impact.

Financial summary

  • Net sales totaled SEK 5.8 million (20.0).
  • Operating loss (EBIT) was SEK –22.0 million (–29.9).
  • The Group’s result after financial items was SEK –22.8 million (–30.5).
  • Earnings per share attributable to the Parent Company’s shareholders before and after dilution totaled SEK –0.04 (–0.40).
  • Debt/equity ratio was 81 percent (79) on the balance sheet date.
  • Cash flows from operating activities amounted to SEK –43.2 million (–29.6).
  • On the balance sheet date, the Group’s cash and cash equivalents totaled SEK 47.6 million (117.7).

This information is inside information that Cell Impact AB is obliged to make public pursuant to the EU Market Abuse Regulation.

For more information, please contact:
Daniel Vallin
CEO and IR contact, Cell Impact AB (publ)
+46730686620 or daniel.vallin@cellimpact.com

About Cell Impact
Cell Impact AB (publ) is a global supplier of advanced flow plates to fuel cell and electrolyzer manufacturers. The company has developed and patented a unique method for high velocity forming, Cell Impact Forming™ which is significantly more scalable and cost-efficient compared to conventional forming methods. Cell Impact Forming is an environmentally friendly forming technology that consumes no water and very little electrical power.

The Cell Impact share is listed on Nasdaq First North Growth Market and FNCA Sweden AB is the company’s Certified Advisor (CA).

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