- Sales in the first quarter of 2024 increased by +39.8% to 52.8 million euros
- Heavy vehicles continue to perform strongly: 50% more than in the first quarter of 2023 to €47 million
- Light vehicle sales fell slightly compared to the first quarter of 2023 to 5.7 million euros
- Order backlog for 20241 is €150 million, in line with 2024 sales target
PARIS–(BUSINESS WIRE)–Supervision News:
Ouli Electric Power The specialist in smart battery systems for sustainable electric vehicles (FR0014005SB3 – FORSEE – the “Company”) today announced sales for the first quarter of 2024.
Christophe Gurtner, Founder and CEO of Alli state: “The first quarter of 2024 allowed us to achieve good sales results, consistent with previous quarters. Sales are expected to slow in the second half due to a more wait-and-see business environment than expected. However, this backdrop will support sales growth and new “The launch of our electrical projects, coupled with our geographic expansion (Australia, Japan, North America), will enable us to return to more sustained growth momentum and achieve breakeven adjusted EBITDA in full year 2024.”
Revenue breakdown by business unit
IFRS, unaudited
|
(Unit: thousand euros) |
Q1 2024 |
Q1 2023 |
Change |
% Change |
|
heavy vehicles |
47,027 |
31,361 |
15,666 |
+50.0% |
|
light vehicle |
5,740 |
6,389 |
-649 |
-10.2% |
|
Total sales |
52,767 |
37,751 |
15,017 |
+39.8% |
Oripower’s sales in the first quarter of 2024 were 52.8 million euros, an increase of 39.8% compared with the first quarter of 2023. , annual growth + 50% in the first quarter of 2023. As the market was less dynamic than expected, sales in the light vehicle segment fell slightly to 5.8 million euros. At the same time, firm orders for 2024 continue to grow, reaching 150 million euros.
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Strategy and Outlook
By 2024, Ouli plans to maintain a dynamic dynamism by converting its orders into sales in priority high value-added markets: buses, off-highway vehicles (agricultural, construction and industrial vehicles), rail and light vehicles.
The battery industry is currently facing a significant drop in material costs, which will put pressure on sales starting in the second half of 2024. It will be beneficial to the development of the battery industry.
Overall, the company expects annual sales to be between 180 and 200 million euros.
Growth momentum, particularly strong customer development in Australia and Japan, as well as plans to effectively launch our North American industrial base in the coming months (the first cells will be assembled in early April 2024), will allow us to continue to diversify our customer base and achieve further growth in 2025.
At the same time, Ouli Power will focus on continuously improving profitability indicators and promoting healthy development. As a result, the company confirmed its target to achieve breakeven adjusted EBITDA for the full year 2024.
The next financial event
- Annual General Meeting, June 21, 2024
- 2024 half-year sales, July 25, 2024, 7:30 am
About Ouli
Forsee Power is a French industrial group focused on smart battery systems for sustainable electric mobility (light vehicles, off-highway vehicles, buses, trucks and trains). The Group is a major player in Europe, Asia and North America, designing, assembling and supplying battery-based energy management systems that are the most powerful on the market, and providing on-site and remote installation, commissioning and maintenance. More than 3,000 buses and 135,000 LEVs have been equipped with Ouli power batteries. The group also offers financing solutions (battery leasing) and second-life solutions for transportation batteries. Ouli and its 750 employees are committed to sustainable development, and the group won a gold medal from EcoVadis, a leading sustainability rating agency. For more information, visit: www.forseepower.com | @ForseePower
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1 For orders booked on April 1, 2024, invoices have been issued since January 1, 2024 or will be invoiced before December 31, 2024.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240513962637/en/
Ouli Electric Power
Sophie Trico
Vice President, Corporate Affairs and Sustainability
investors@forseepower,com
new capital
Thomas Grojean
investor relations
forseepower@newcap, EU
+33 (0)1 44 71 94 94
new capital
Nicola Meliccio
media relations
forseepower@newcap, EU
+33 (0)1 44 71 94 98
Source: Ouli Power
