Forsee Power Reports High First-Half Sales of €78.8 Million

Regulatory News:

Forsee Power (FR0014005SB3 - FORSEE) (Paris:FORSE), the expert in smart battery systems for electric light and heavy vehicles, announces today its sales for the first half of 2023, ended June 30, 2023² .

Christophe Gurtner, Founder and Chief Executive Officer of Forsee Power states: "The sales momentum recorded in the first half of 2023 clearly illustrates our ability to convert our order book into sales. The contracts we have signed in recent semesters with leading players contribute directly to the development of our activity, particularly in the heavy vehicle segment. With electromobility now recognized as the norm in global transport, Forsee Power will continue to benefit from its leading position in its high value-added markets to maintain its pace of development. We are more confident than ever in the execution of our roadmap and confirm our annual targets of sales of more than €160 million and a significant improvement in our adjusted EBITDA”.

Breakdown of sales by segment

IFRS, unaudited
(in € thousand)			Q2 2022			Q2 2023			Change			H1 2022			H1 2023			Change
Heavy vehicles			24,745			34,072			+38%			38,474			65,433			+70%
Light vehicles			6,461			6,934			+7%			11,253			13,323			+18%
Total sales			31,206			41,006			+31%			49,727			78,756