Forsee Power: sales down 40% in Q3

(CercleFinance.com) - On Tuesday, Forsee Power confirmed its targets for 2024, despite a marked 40% drop in third-quarter sales.


The specialist in intelligent battery systems for electromobility recorded sales of 28.7 million euros in the third quarter, compared with 47.9 million euros a year earlier.

For the first nine months of 2024, sales came to 113.1 million euros, down 10.6% on the same period in 2023.

Last July, the Group warned of a market context experiencing a "slowdown 'around the world'", leading it in September to revise downwards its annual sales ambitions.A.

In a press release, Forsee confirms its recently revised annual sales target of between €150 and €160 million.

The company also states that it is still aiming to achieve break-even adjusted EBITDA by 2024, thanks to "rigorous" management of its costs and margins.

Following this publication, the share lost more than 8% in early trading on Tuesday morning on the Paris Bourse, as investors judged that the company's forecasts would be difficult to achieve this year.

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