2024: A Year of Transformation and Recovery – Positioning Polarium for Growth

2024 was a transformative year of recovery and strategic alignment for Polarium. Through decisive actions and strategic investments, the company achieved a necessary turnaround, resulting in a 15% increase in net sales and improved cash flow. Polarium is now well-positioned for sustainable growth moving forward.

Polarium, a leading provider of energy storage solutions, implemented significant changes to secure long-term profitability and financial stability in 2024. The company also introduced a new business-oriented structure focusing on three key areas: Telecom, Commercial and Industrial (C&I), and Residential. This strategic shift resulted in a 15% increase in net sales, reaching 1,332 million SEK, driven by robust growth in the Residential and C&I sectors.

To achieve long-term profitability, Polarium undertook extensive restructuring, including a new organizational framework, leadership changes, capital raising, and workforce reductions. The general cost base has been downsized by 40%. These efforts have significantly improved Polarium’s liquidity, with significant reduction in negative operating cash flow, which for 2024 amounted to -148 million SEK compared to -655 million SEK in 2023.

“As we move beyond 2024, we are strategically positioned to capitalize on a growing market. By focusing on our core business and forging new partnerships, we are strengthening our financial stability and expanding our portfolio of innovative energy storage systems. Our restored financial capacity positions us to achieve positive results and cash flow in 2025”, says Leif Ottosson, CEO of Polarium.

The global energy storage market is rapidly expanding across the Telecom, C&I, and Residential sectors. Shifts in the energy landscape and technological advancements are key drivers of the growing demand for Polarium’s products. Altogether, this positions Polarium well for future growth.

For more information, please contact:

Polarium Press contact:
Maria Stern
press@polarium.com
+46 70 571 04 17

www.polarium.com

About Polarium
Polarium is a leading energy storage developer. We make energy storage and optimization solutions built on lithium-ion battery technology for businesses within telecom, commercial, industrial and residential facilities across the world. Polarium was founded in 2015 on the conviction that safe and smart energy storage solutions will be key to empower the transition to a truly sustainable energy future. We are an impact business contributing to the energy transformation by enabling renewables, electrification and intermittent power supply. Our cutting-edge and easily adaptable modular battery technology enables us to be in the forefront of developing state-of-the-art sustainable energy storage and optimization solutions for today – and tomorrow. Polarium is headquartered in Stockholm, with production in South Africa and Vietnam, and customers across the world.