Business description: Ballard Power Systems Inc.

Ballard Power Systems Inc. is engaged in the design, development, manufacture, sale and service of proton exchange membrane (PEM) fuel cell products for a variety of applications, focusing on power products for bus, truck, rail, marine, stationary and emerging market (material handling, off-road and other) applications, as well as the delivery of services, including technology solutions, after sales services and training. The Company operates through fuel cell products and services segment. Embedded in each Ballard fuel cell product lies a stack of unit cells designed with its PEM fuel cell technology that includes membrane electrode assemblies, catalysts, plates, and other key components, and draw on intellectual property from its patent portfolio, together with its experience and know-how, in key areas of PEM fuel cell stack design, operation, production processes and systems integration.

Number of employees: 492

Sales by Activity: Ballard Power Systems Inc.

Fiscal Period: December 2021 (USD) 2022 (USD) 2023 (USD) 2024 (USD) 2025 (USD)

Fuel Cell Products and Services

105M 83.79M 102M 69.73M 99.37M

Geographical breakdown of sales: Ballard Power Systems Inc.

Fiscal Period: December 2021 (USD) 2022 (USD) 2023 (USD) 2024 (USD) 2025 (USD)

United States

17.54M 24.05M 25.7M 15M 32.28M

Poland

541K 1.77M 11.26M 21.66M 21.57M

Canada

3.06M 4.52M 12.03M 3M 17.88M

Germany

22.06M 13.68M 14.49M 4.18M 8.41M

United Kingdom

8.97M 9.89M 8.18M 12.77M 8.2M

Egypt

- - - - 3.51M

Rest of World

417K 976K 1.1M 1.11M 2.24M

Spain

926K 763K 857K 260K 1.88M

China

38.82M 9.13M 11.98M 2.63M 1.54M

Netherlands

- - 4.81M 668K 1.18M

Denmark

3.03M 2.53M 2.24M 2.16M 342K

France

1.83M 6.9M 3.31M 4.02M 317K

Korea

- - - 357K -

Australia

- 3.71M 51K 11K -

Sweden

129K - - - -

Ukraine

244K - - - -

Norway

2.52M 591K 779K 267K -

Taiwan

912K 640K 1.38M 727K -

India

439K 656K 2.03M 92K -

Belgium

2.12M 3.43M 2.09M 634K -

Japan

954K 541K 76K 180K -

Executive Committee: Ballard Power Systems Inc.

Manager TitleAgeSince
Chief Executive Officer 63 06/07/2025
Director of Finance/CFO - 11/09/2024
Chief Operating Officer - 12/04/2026
Chief Tech/Sci/R&D Officer 62 28/08/2022
Chief Tech/Sci/R&D Officer - 31/01/2016

Composition of the Board of Directors: Ballard Power Systems Inc.

Director TitleAgeSince
Director/Board Member 79 31/12/2011
Chairman 63 06/06/2018
Director/Board Member 56 04/08/2021
Director/Board Member 69 08/12/2021
Director/Board Member 65 26/03/2024
Director/Board Member 63 -

Shareholders: Ballard Power Systems Inc.

NameStocks%Valuation
10.32 %
31,102,826 10.32 % 196 M $
Two Sigma Investments LP
4.094 %
12,343,152 4.094 % 78 M $
Morgan Stanley Capital Services LLC
4.009 %
12,086,379 4.009 % 76 M $
D.E. Shaw & Co., Inc.
2.747 %
8,282,852 2.747 % 52 M $
Legal & General Investment Management Ltd.
2.121 %
6,394,251 2.121 % 40 M $

Holdings: Ballard Power Systems Inc.

NameStocks%Valuation
5,168,3284.4% 2 M $

Company details: Ballard Power Systems Inc.

Ballard Power Systems, Inc.

9000 Glenlyon Parkway

V5J 5J8, Burnaby

+604 454 0900

http://www.ballard.com
address Ballard Power Systems Inc.(BLDP)

Group companies: Ballard Power Systems Inc.

NameCategory and Sector
Wholesale Distributors
Wholesale Distributors

Stationary Fuel Cells

Change 5d. change 1-year change 3-years change Capi.($)
+5.55%-16.90%+247.60%+23.17% 1.57B
-0.78%-19.04%+229.14%-66.49% 4.45B
-14.00%-19.75%+293.97%+136.90% 3.03B
-3.70%-20.20%+715.05%+123.37% 1.7B
-10.56%-27.26%+139.57%-77.63% 820M
+1.95%-5.42%-9.50%-11.23% 421M
-2.84%-14.62%+11.06%-9.05% 208M
-2.00%-6.07%-63.11% - 195M
Average -3.45%-16.72%+195.47%+17.00% 1.55B
Weighted average by Cap. -4.26%-18.83%+291.57%+24.12%
Trader
Investor
-
Global
-
Quality
-
ESG MSCI
AAA
Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
12
Last Close Price
5.192USD
Average target price
3.048USD
Spread / Average Target
-41.31%

Quarterly revenue - Rate of surprise

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