SFC Energy AG / DE0007568578
20.08.2024 - 07:30:12SFC Energy delivers strong half-year financials – further improved net cash position of around EUR 66 million – international expansion and capacity build up according to plan
SFC Energy AG / Key word(s): Half Year Report/Half Year Results 20.08.2024 / 07:30 CET/CEST The issuer is solely responsible for the content of this announcement. Group sales up 24.2% to EUR 70,856 thousand (H1/2023: EUR 57,053 thousand) Increase of 71.1% in adjusted EBITDA to EUR 12,526 thousand (H1/2023: EUR 7,321 thousand); wider adjusted EBITDA margin of 17.7% (H1/2023: 12.8%) Adjusted EBIT more than doubled to EUR 9,558 thousand (H1/2023: EUR 4,355 thousand); adjusted EBIT margin of 13.5% (H1/2023: 7.6%) Net cash position of EUR 65,621 thousand (31 December 2023: EUR 56,056 thousand) Ramp-up of MEA production in the UK and expansion of production capacities in Germany, Romania and India on schedule Increase in order backlog to EUR 89,024 thousand as of 30 June 2024 (31 December 2023: EUR 81,300 thousand) Outlook for 2024 confirmed Brunnthal/Munich, Germany, 20 August 2024 – SFC Energy AG (“SFC”, F3C:DE, ISIN: DE0007568578), a leading supplier of hydrogen and methanol fuel cells for stationary and mobile hybrid power solutions, published its figures for the first half of 2024 today. Report by the Management Board Dr Peter Podesser, CEO of SFC Energy AG: “After a record year in 2023 and a strong first quarter in 2024, we can look back on a favourable first half of 2024 and report further progress in the implementation of our growth strategy. The growing global demand for our environmentally friendly and efficient fuel cell technologies is making a significant contribution to this gratifying performance and is also reflected in a further increase in the order backlog. In the first half of the year, we gained the largest single contract in the company’s history to date with a follow-up order worth over EUR 27.8 million. Long-standing customers such as Oneberry Technologies from Singapore and Fuel Cell Systems Ltd. from UK continue to rely on our solutions. We also acquired numerous new customers, such as ConnectCom from Luxembourg, for our hydrogen products in the first half of the year. This vindicates our strategy of developing durable, reliable and user-friendly energy production solutions for a better carbon footprint. In addition to the very good figures achieved in all main performance indicators in the first half of the year, a further highlight was the strong operating cash flow before changes in working capital (H1/2024: EUR 12.6 million vs. H1/2023: EUR 7.3 million), which increased significantly thanks to the very strong business performance. SFC Energy’s profitable growth is not a matter of course in the hydrogen and fuel cell sector and, in our view, constitutes an important differentiating factor. In the second quarter of 2024, sales and earnings growth slowed slightly despite strong market demand following a very strong first quarter of 2024. As already stated when the results for the first quarter were announced, the main reason for this was a temporary shortfall in the availability of membrane electrode assemblies (MEAs) and, resulting from this, production constraints for methanol fuel cells in connection with the construction of our production site in Swindon, UK. As things currently stand, however, we assume that these capacity restrictions will be eliminated in the course of the third quarter with the ramp-up of our membrane production in the United Kingdom and that we will be able to scale up deliveries substantially again in the second half of the year. The important progress that we have made in expanding our international footprint – including the opening of a subsidiary in Utah and a new production facility in Romania – has allowed us to pass key milestones for further growth.” Orders and sales Order intake increased to EUR 79,180 thousand in the first half of the year (H1/2023: EUR 68,871 thousand). Reflecting this, the Group’s order backlog rose to EUR 89,024 thousand as of 30 June 2024 (31 December 2023: EUR 81,300 thousand). In the period from 1 January to 30 June 2024, the SFC Energy Group achieved substantial growth of 24.2% in sales, which climbed to EUR 70,856 thousand (H1/2023: EUR 57,053 thousand). This favourable performance is the result of strong organic growth in both the Clean Energy and the Clean Power Management segments. Regionally, Asia delivered the strongest sales growth with an increase of 131.8%. The proportion of sales accounted for by Asia widened again in the first half of the year to 18.8% (H1/2023: 10.1%).
SFC Energy Investor Relations and Press Contact: CROSS ALLIANCE communication GmbH Susan Hoffmeister Phone +49 89 125 09 03-33 Email: susan.hoffmeister@sfc.com Web: sfc.com * * * This corporate news may contain certain forward-looking statements, estimates, opinions and projections regarding the future development of the company (“forward-looking statements”). Forward-looking statements can be recognised by terms such as “assume”, “plan”, “anticipate”, “expect”, “intend”, “will” or “should” as well as their negation and similar variants or comparable terminology. Forward-looking statements include all matters that are not based on historical facts. They are based on the current opinions, forecasts and assumptions of the Management Board of SFC Energy AG and involve substantial known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Forward-looking statements should not be read as guarantees of future performance or results and are not necessarily reliable indicators of whether or not such results will be achieved. All forward-looking statements contained in this corporate news apply only as of the date of this release. The company will not update or revise the information, forward-looking statements or conclusions contained in this corporate news to reflect any subsequent events, circumstances or inaccuracies that may arise after the date of this corporate news as a result of new information, future developments or otherwise, and assumes no obligation to do so. We provide no guarantee whatsoever that the forward-looking statements or assumptions contained herein will materialise. 20.08.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.eqs-news.com |
Language: | English |
Company: | SFC Energy AG |
Eugen-Sänger-Ring 7 | |
85649 Brunnthal-Nord | |
Germany | |
Phone: | +49 (89) 673 592 - 100 |
Fax: | +49 (89) 673 592 - 169 |
E-mail: | ir@sfc.com |
Internet: | www.sfc.com |
ISIN: | DE0007568578 |
WKN: | 756857 |
Indices: | SDAX |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1970807 |
End of News | EQS News Service |
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