EnerSys posts full-year sales boost

EnerSys posts full-year sales boost

EnerSys posts full-year sales boost 427 299 Batteries International

June 2, 2022: EnerSys has reported a 13% increase in sales in annual results posted on May 25.

The lead and lithium batteries producer said net sales for the full year ended March were $3.36 billion compared to just under $3 billion in the year ago period.

EnerSys said the rise was due to a 10% increase in organic volume resulting primarily from strong demand and a 3% increase in pricing.

Sales in the motive power segment amounted to $1.4 billion — an increase of 17% over the previous year. Sales of energy systems, which combines enclosures, power conversion, power distribution and energy storage, increased by more than 11% to $1.5 billion.

Milestones

Adjusted Ebitda was $340 million compared to $345 million previously, against a backdrop of inflation and supply chain disruptions.

CEO David Shaffer (pictured) said key milestones achieved in fiscal 2022 included the launch and UL safety listing of EnerSys’ NexSys lithium ion batteries.

Shaffer said the company had also exceeded its capacity goal for its proprietary TPPL technology, where demand, he said, “continues to outpace our ability to supply”.

“We expect to benefit further from the strength of this demand as we make progress toward increasing capacity by an additional $200 million in fiscal 2023.”

On March 9, the EnerSys board announced a $150 million stock repurchase authorization, ahead of launching the company’s inaugural sustainability report on April 29.