Business World of Renewable Energy

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Ballard Raises Revenue and Reduces Loss


Total revenue was 22.7 million US-Dollars in the last quarter, an increase of 39 percent resulting from growth in both Power Products and Technology Solutions. Heavy Duty Motive revenue was $7.2 million, an increase of 120 percent resulting from shipments of power modules and fuel cell stacks to fulfill orders in support of clean energy vehicles in China.

Gross margin was 42 percent in Q1, an improvement of 22-points primarily due to a shift in product mix toward higher margin Technology Solutions and Heavy Duty Motive for the China market, including the ongoing establishment of a production line in Yunfu, China for the manufacture and assembly fuel cell stacks. Adjusted Ebitda was ($0.7) million in Q1, an improvement of $6.6 million or 91 percent. Net income was ($2.9) million in the quarter, an improvement of $7.1 million or 71 percent.

Source: IWR Online, 03 May 2017