(CercleFinance.com) – Forsee Power announced last night that it had suspended its objectives for 2028 despite very good commercial and financial performances last year.
The manufacturer of intelligent batteries for electromobility justifies its decision by the lack of maturity of its markets, which it considers to still be in the start-up phase.
The group emphasizes, however, that this suspension does not call into question its growth prospects, nor the relevance of its strategy, always focused on a profitable growth trajectory.
For the 2023 financial year, its revenues increased by 54% to 171.2 million euros, mainly driven by strong growth in its heavy vehicle business.
At the same time, its operating loss (Ebitda) adjusted EBITDA narrowed to 6.8 million euros, compared to -13 million euros in 2022.
Regarding its outlook for 2024, Forsee says it wants to focus on profitability with the achievement of adjusted Ebitda to balance, with an annual turnover target of between 180 and 200 million euros.
The start of production at its North American site is scheduled for the end of the first half of 2024.
Around 12:00 p.m., Forsee shares fell 12%, reaching their lowest level since its IPO in 2021.