PowerCell reports a Q2 operating loss of SEK 52.2m as gross profit declines sharply to SEK 3.9m.
PowerCell Sweden AB (PCELF) reported Q2 net sales of SEK 37.0 million, down from prior periods, as gross profit fell to SEK 3.9 million from SEK 80.1 million. The gross margin contracted to 10.4% from 61.6% a year earlier.
Operating income swung to a loss of SEK 52.2 million, compared with a profit of SEK 22.4 million in the same quarter last year. Net income also turned negative at SEK 51.2 million, with earnings per share at SEK -0.88.
Operating cash flow improved slightly to SEK 4.6 million from SEK 6.9 million in the prior-year period.