Forsee Power: share price soars thanks to new contract

(CercleFinance.com) - Forsee Power's share price gained over 15% on the Paris Bourse on Monday, in heavy trading volumes, as the battery systems manufacturer announced a new contract in Turkey.


Shortly before 12:00, the share price was up 15.7%, one of the biggest gains on the Paris market, in volumes already representing almost four times the average daily trading volume over the last four sessions.

Forsee announced this morning that the Turkish manufacturer Otokar had chosen its battery system, offering a range of 400 km and a full recharge in less than four hours, to equip its electric intercity bus.

Forsee had already announced last week that it had won a major contract in Turkey, where its batteries will be used in 'trolleybuses' developed by Bozankaya.

"After a solid publication of its 2024 sales, and a positive adjusted Ebitda for the first time in its history, the group proves that it is on the road to success", reacted Euroland analysts.

Forsee Power announced last month that it had achieved its financial targets for 2024, starting with a positive adjusted operating result (Ebitda).

Since January 1, the share price has gained 105%, with a market capitalization of 61.7 million euros.

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