Flash Battery doubles GSE revenue in 2 years

Written by: James Muir |
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Flash Battery has almost doubled revenue for GSE in 2 years with another strong year in 2022.

Revenue from GSE increased from €3.2 million in 2021 to €4.4 million in 2022 then up to €5.8 million in 2023.

The Italian company is working with leading OEMs to electrify tow tractors, pushbacks, GPUs, passenger stairs, belt loaders, scissor/pallet loaders, PRM units and tractors.

For the 2022 fiscal year, revenue for the whole company was up 29% to €22.3 million and staff numbers increased 22% to 80 employees.

CEO Marco Righi said: “These are meaningful results. In addition to highlighting the positive trend in our home market, they also show the 37% leap in export revenue which, at €4.6 million in value, represents 21% of total sales.”

Commenting on the growing team, Righi said: “A year and a half into the opening of our new headquarters, we’re considering further adding to our staff because our development largely relies on the technology, patents and prototypes we create; however, the most important factor for growth is represented by young and skilled collaborators who are passionate about sustainability journeys that translate into products and services.”

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