14.02.2022 SFC Energy AG  DE0007568578

DGAP-News: SFC Energy AG publishes preliminary consolidated figures for 2021 - Best fiscal year in the company's history - Continued market momentum lays foundation for another record year


DGAP-News: SFC Energy AG / Key word(s): Preliminary Results/Annual Results
SFC Energy AG publishes preliminary consolidated figures for 2021 - Best fiscal year in the company's history - Continued market momentum lays foundation for another record year

14.02.2022 / 07:30
The issuer is solely responsible for the content of this announcement.

SFC Energy AG - Corporate News

SFC Energy AG publishes preliminary consolidated figures for 2021 - Best fiscal year in the company's history - Continued market momentum lays foundation for another record year

- Preliminary Group sales increase by 20.9% to EUR 64,320k (2020: EUR 53,223k) and is at the upper end of the target corridor for 2021

- Preliminary adjusted EBITDA in line with expectations at EUR 6,233k (2020: EUR 2,936k), significant increase in adjusted EBITDA margin to 9.7% (2020: 5.5%)

- Order backlog more than tripled to EUR 30,551k (December 31, 2020: EUR 9,881k)

- Sales growth of 27.4% in fourth quarter of 2021 remains very dynamic

- Clean Energy segment with significant sales growth of 30.8% in 2021 due to continued high demand for SFC fuel cells

- Extraordinary effects in the fourth quarter - higher expenses in Supply Chain & Logistics, in particular

- Plans to double production capacity in Germany and set up a new production line for fuel cells at the site in Romania in the near future

- Forecast for 2022: Sales growth to EUR 75 million to EUR 83 million, EBITDA underlying to EUR 6.0 million to EUR 9.1 million and EBIT underlying to EUR 1.6 million to EUR 2.9 million.

Brunnthal/Munich, Germany, February 14, 2022 - SFC Energy AG ("SFC," F3C:DE, ISIN: DE0007568578), a leading supplier of hydrogen and methanol fuel cells for stationary and mobile hybrid power solutions, announced its preliminary financial results for 2021 and its guidance for fiscal year 2022 today.

Management Board Report

Dr. Peter Podesser, CEO of SFC Energy AG: "Fiscal year 2021 is the best year in the history of SFC Energy AG. The dynamic development is the result of innovation, quality and efficiency in the development and production of future-oriented fuel cell technology and power electronics on an industrial scale. This is our way of meeting the steadily increasing demand for environmentally friendly power generators as well as power management solutions and accompanying our customers on their way to a climate-neutral energy landscape. As of December 31, 2021, we were able to more than triple the order backlog compared to the previous year to over EUR 30.5 million and win additional order intake of approximately EUR 32 million since the beginning of the year. The high market potential is also impressively demonstrated by the largest single order to date in company history of more than EUR 20.9 million in the Clean Power Management segment only last week. We have also seen and continue to see a strong increase in order momentum in the Clean Energy segment. Last year alone, we succeeded in taking orders for around 6,500 fuel cells. Compared to 2020, this represents an increase of around 83%. The positive demand trend is even more apparent when we compare the fourth quarter of 2021 with the fourth quarter of 2020, where we recorded almost a threefold increase in the number of units sold. The high demand continues at the start of 2022. Immediately after the start of the year, we exceeded the 55,000 mark for fuel cells sold and expanded our leading market position even further.

Demand is broadly spread across all our national markets and various user industries. As a leading supplier of hydrogen and methanol fuel cells, we will continue to seize the major market opportunities with determination. Our new EFOY fuel cells combine years of SFC Energy greentech expertise with state-of-the-art IIoT and cloud functionalities to make the user's energy infrastructure not only climate neutral, but also more efficient.

The very positive development in the area of climate-neutral energy producers is, in our estimation, just the beginning. Nevertheless, we must continue to keep a close eye on and address limiting factors such as the further course of the COVID-19 pandemic and the supply chain challenges it poses. We also need to adequately address increasing cybersecurity requirements by ramping up our investments in this area. Among other things, these issues resulted in extraordinary charges of around EUR 1.2 million in the fourth quarter of 2021.

Fiscal year 2021 and the continuing strong order momentum in the first weeks of 2022 give us an overall optimistic outlook for the current fiscal year and our medium-term planning. We are fully on track to achieve our sales target of EUR 350 million to EUR 400 million and an underlying EBITDA margin of more than 15% by 2025. To achieve this goal, we have defined clear measures, several of which have already been implemented. The cornerstones include, on the one hand, further product developments in the hydrogen fuel cell area with higher performance and expanded IIoT functionalities. On the other hand, we are further internationalizing our business by entering into successful partnerships such as with Toyota Tshusho in Asia or FC TecNrgy and Bharat Electronics in India. The recent large-volume project successes in the US are also clearly attributable to our internationalization strategy. Alongside this, we are doubling our production in Germany and building a new production line for fuel cells at our site in Cluj, Romania. At the same time, we are examining further opportunities for strategic and operational cooperation with potential partners, which may also lead to equity investments or acquisitions."

Sales and earnings performance

According to preliminary unaudited figures, SFC Energy generated consolidated sales of EUR 64,320k (2020: EUR 53,223k) in fiscal year 2021. With growth of 20.9% compared to fiscal year 2020, the development in the challenging environment of the pandemic was very positive and at the upper end of the forecast range (EUR 61.0 million to EUR 65.0 million). According to preliminary figures, consolidated sales growth of around 27.4% to EUR 17,844k was achieved in the fourth quarter of 2021 (Q4 2020: EUR 14,010k).

According to preliminary calculations, underlying EBITDA doubled to EUR 6,233k in the reporting year 2021 (2020: EUR 2,936k) and was thus within the target corridor of the forecast range (EUR 5.7 million to EUR 7.3 million). The preliminary underlying EBITDA margin increased significantly to 9.7% in 2021 (2020: 5.5%). The pleasing development is attributable to organic sales growth, continued good price penetration and an attractive product mix in favor of higher-margin products. According to preliminary calculations, EBIT underlying adjusted for special items increased to EUR 1,925k (2020: EUR -579k) and was thus also in line with expectations (EUR 1.6 million to EUR 3.1 million). This results in a preliminary EBIT underlying margin of 3.0% (2020: -1.1%).

Development of the segments

This dynamic business development reflects the unabated high demand for EFOY hydrogen and methanol fuel cells as well as power electronics products from SFC Energy AG.

According to preliminary calculations, the Clean Energy segment in particular benefited from accelerated market growth and high demand in the reporting year and posted a 30.8% increase in sales to EUR 42,428k compared to EUR 32,439k the previous year. This applies both to industrial applications, including civil security technology, data transmission and digitalization, which account for the highest share of segment sales, and to consumer applications. In addition, the increased contribution from the fuel cell business in the US is also boosting growth. The first weeks of the current fiscal year also show a very dynamic international demand trend across all user sectors. As expected, sales in the government business (Defense & Public Security) increased very strongly by 94% in the reporting year after a weak year 2020 due to the pandemic.

According to preliminary figures, sales in the Clean Power Management segment showed growth of 5.3% to EUR 21,892k in the reporting year (2020: EUR 20,783k). The segment's share of consolidated sales amounted to 34.0% in 2021 (2020: 39.0%). This growth was mainly based on recovering demand as a result of the gradually easing COVID-19 pandemic situation with current customers and the improved market environment or good capacity utilization in the segment's target markets. Postponements in investment decisions and increased pandemic-related delays in deliveries of individual electronic components led to shifts in sales in the new project and new customer business.

Order intake increased significantly to EUR 89,087k (2020: EUR 49,095k) due to the strong demand momentum in the reporting year. The order backlog across all product divisions more than tripled to EUR 30,551k (December 31, 2020: EUR 9,881k) as of December 31, 2021.

Guidance for 2022

Due to the positive development in 2021 with historic records in a challenging environment as well as the strong order dynamics, the Management Board expects 2022 to also develop dynamically and is aiming for another record year. Therefore, consolidated sales are projected to be in the range of EUR 75 million to EUR 83 million for the current fiscal year.

On the earnings side, the Management Board is currently planning conservatively and expects underlying EBITDA within a range of EUR 6.0 million to EUR 9.1 million and underlying EBIT of EUR 1.6 million to EUR 2.9 million. This planning takes into account the growth investments in the expansion of production capacities in Germany, the establishment of a new production line in Romania, investments for the further digitalization of business processes, including measures to increase IT security, and for the further development of the organization with a view to its future growth. Furthermore, SFC Energy is taking the uncertainties in the overall economic environment into account.

Detailed financial information

The figures disclosed in this release are preliminary and unaudited. SFC Energy AG will publish the final figures for fiscal year 2021 in its 2021 Annual Report on March 17, 2022.

SFC Energy AG will be holding a conference call for interested investors and members of the press in English today, February 14, 2022, at 9:00 am. Please send an email to [email protected] to register.

For more information on SFC Energy's Clean Energy and Clean Power Management solutions, visit sfc.com.

About SFC Energy AG
SFC Energy AG is a leading provider of hydrogen and methanol fuel cells for stationary and mobile hybrid power solutions. With the Clean Energy and Clean Power Management business segments, SFC Energy is a sustainably profitable fuel cell producer. The Company distributes its award-winning products worldwide and has sold more than 55,000 fuel cells to date. The Company is headquartered in Brunnthal/Munich and operates production facilities in Germany, the Netherlands, Romania, and Canada. SFC Energy AG is listed on the Deutsche Boerse Prime Standard (GSIN: 756857, ISIN: DE0007568578).

SFC IR Contact:
Susan Hoffmeister
Phone +49 89 125 09 03-33
Email: [email protected]
Web: sfc.com

SFC Press contact:
Jens Jüttner
Phone +49 89 125 09 03-32
Email: [email protected]
Web: sfc.com

* * *

This publication may contain forward-looking statements, estimates, opinions and projections with respect to anticipated future performance of the Company ("Forward-Looking Statements"). These Forward-Looking Statements can be identified by the use of forward-looking terminology, including, but not limited to, the terms "expects," "plans," "anticipates," "expects," "intends," "may," "will" or "should" or, in each case, their negative, or other variations or comparable terminology. These Forward-Looking Statements include all matters that are not historical facts. Forward-Looking Statements are based on the current views, expectations and assumptions of the management of SFC Energy AG and involve significant 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 will not necessarily be accurate indications of whether or not such results will be achieved. Any Forward-Looking Statements only speak as at the date of this release. We undertake no obligation, and do not expect to publicly update, or publicly revise, any of the information, Forward-Looking Statements or the conclusions contained herein or to reflect new events or circumstances or to correct any inaccuracies which may become apparent subsequent to the date hereof, whether as a result of new information, future events or otherwise. We accept no liability whatsoever in respect of the achievement of such Forward-Looking Statements and assumptions.

14.02.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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Language: English
Company: SFC Energy AG
Eugen-Sänger-Ring 7
85649 Brunnthal-Nord
Phone: +49 (89) 673 592 - 100
Fax: +49 (89) 673 592 - 169
E-mail: [email protected]
Internet: www.sfc.com
ISIN: DE0007568578
WKN: 756857
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1279926

End of News DGAP News Service

1279926  14.02.2022 


Die wichtigsten Finanzdaten auf einen Blick
  2016 2017 2018 2019 2020 2021 2022e
Umsatzerlöse1 44,04 54,29 61,70 58,54 53,22 64,32 83,50
EBITDA1,2 -2,51 0,86 2,48 1,70 -0,99 -0,80 10,00
EBITDA-Marge3 -5,70 1,58 4,02 2,90 -1,86 -1,24 11,98
EBIT1,4 -4,90 -0,89 1,33 -1,29 -4,50 -5,11 5,60
EBIT-Marge5 -11,13 -1,64 2,16 -2,20 -8,46 -7,95 6,71
Jahresüberschuss1 -4,99 -2,07 0,00 -1,93 -5,18 -5,83 4,40
Netto-Marge6 -11,33 -3,81 0,00 -3,30 -9,73 -9,06 5,27
Cashflow1,7 -5,23 1,70 2,01 -1,26 -0,60 1,08 -3,50
Ergebnis je Aktie8 -0,58 -0,23 0,00 -0,17 -0,39 -0,40 0,25
Dividende8 0,00 0,00 0,00 0,00 0,00 0,00 0,00
Quelle: boersengefluester.de und Firmenangaben

  Geschäftsbericht 2021 - Kostenfrei herunterladen.  
1 in Mio. Euro; 2 EBITDA = Ergebnis vor Zinsen, Steuern und Abschreibungen; 3 EBITDA in Relation zum Umsatz; 4 EBIT = Ergebnis vor Zinsen und Steuern; 5 EBIT in Relation zum Umsatz; 6 Jahresüberschuss (-fehlbetrag) in Relation zum Umsatz; 7 Cashflow aus der gewöhnlichen Geschäftstätigkeit; 8 in Euro; Quelle: boersengefluester.de

Wirtschaftsprüfer: Deloitte

SFC Energy
WKN Kurs in € Einschätzung Börsenwert in Mio. €
756857 24,100 Kaufen 418,46
KGV 2023e KGV 10Y-Ø BGFL-Ratio Shiller-KGV
57,38 0,00 0,00 -51,61
3,89 388,19 6,51 -449,31
Dividende '22 in € Dividende '23e in € Div.-Rendite '23e
in %
0,00 0,00 0,00 09.05.2023
Q1-Zahlen Q2-Zahlen Q3-Zahlen Bilanz-PK
17.05.2022 13.09.2022 15.11.2022 25.03.2022
Abstand 60Tage-Linie Abstand 200Tage-Linie Performance YtD Performance 52 Wochen
22,83% 7,55% -13,50% -7,30%
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Kraftwerke , 756857 , F3C , XETR:F3C