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It is reported that Fluence, the global battery energy storage system integrator, recently released its Q3 and fiscal year 2023 performance, marking a transformative milestone of achieving net profit for the first time.

The Hazelwood Battery Energy Storage Project supplied by Fluence was commissioned in Australia in June this year.

For the Q3 ending September 30, 2023, Fluence achieved a net income of $4.8 million (US), marking the company’s first-ever profit, compared to a net loss of $35 million (US) in Q2. This translates to a total fiscal year 2023 revenue of $2.2 billion (US). The quarterly data showed an 85% year-over-year growth and a 25% quarter-over-quarter increase.

Fluence’s gross profit margin for the fiscal year was 6.4%, while the gross profit margin for Q3 of this year was 11.3%.

The company anticipates revenue for the fiscal year 2024 to be between $2.7 billion and $3.3 billion (US), representing a growth rate of 22% to 50%.

According to data from Wood Mackenzie and S&P Global, based on deployed energy storage projects, Fluence is the second-largest battery energy storage system integrator after Sungrow. When considering both deployed and future contracted projects, Sungrow is the world’s largest battery energy storage system integrator.

Source: WeChat Official Account—储能网

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