Cell Impact is initiating a cost reduction program to meet an expected reduced inflow of orders

Cell Impact’s largest customers are forecasting a decline in flow plate demand in the second half of 2023, compared to what has been previously indicated. Fuel cell manufacturing customers have significant large order backlogs, but building supply chains and manufacturing capacity is challenging and it takes longer than expected, delaying expected orders. However, inquiries received from a number of customers and prospects indicate a great interest in Cell Impact's complete offer in the long term.

In order to adapt the organization to a lower production rate of flow plates, Cell Impact initiates a cost reduction program including a reduction in personnel and other running cost. A total of 28 full-time positions may be affected. Negotiations with the unions according to MBL will begin shortly.

The expected lower order intake for flow plate production will affect Cell Impact’s possibility to reach the financial targets for 2024. In light of this, the company will review its financial targets and update them when the new commercial conditions have been analyzed.

- It is of course very sad to have to give this message to our employees, but we have to adapt to our customers' development in order to ensure the company's development in the long term, says Pär Teike, CEO for Cell Impact.

The market for fuel cells and electrolyzers continues to develop positively and the company is well positioned with its offer of scalable production of flow plates.

This information is inside information that Cell Impact AB is obliged to make public pursuant to the EU Market Abuse Regulation.