13.09.2022 SFC Energy AG  DE0007568578

DGAP-News: SFC Energy AG publishes Half-Year Report 2022 – Continuation of dynamic growth and confirmation of the forecast for 2022


 

DGAP-News: SFC Energy AG / Key word(s): Half Year Results/Half Year Report
SFC Energy AG publishes Half-Year Report 2022 – Continuation of dynamic growth and confirmation of the forecast for 2022

13.09.2022 / 07:30 CET/CEST
The issuer is solely responsible for the content of this announcement.


SFC Energy AG – Corporate News

SFC Energy AG publishes Half-Year Report 2022 – Continuation of dynamic growth and confirmation of the forecast for 2022

  • Half-year financial statements confirm preliminary figures published on August 24, 2022
  • Group sales in the second quarter of 2022 with significant increase of 43.2% to EUR 20,253 thousand (Q2/2021: EUR 14,148 thousand), 22.6% increase in first half of 2022 to EUR 38,159 thousand (H1/2021: EUR 31,132 thousand)
  • Underlying EBITDA in first half of 2022 of EUR 3,112 thousand (H1/2021: EUR 3,441 thousand) in line with expectations, underlying EBITDA margin at 8.2% (H1/2021: 11.1%)
  • Further increase in the order backlog to EUR 65,176 thousand (March 31, 2022: EUR 57,144 thousand)
  • 2022 forecast confirmed

Brunnthal/Munich, Germany, September 13, 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, is publishing its report for the first half of 2022 today, thus confirming the preliminary half-year results as of August 24, 2022.

Management Board Report

Dr. Peter Podesser, CEO of SFC Energy AG, said: “We managed to successfully continue our dynamic development in the first half of the year, despite the current challenges in the supply chain. In particular, the acceleration of growth in the second quarter in which we achieved a 43.2% increase in sales compared to the same quarter of last year, confirms the consistently high demand for our clean and efficient power generators. The trend is continuing with unbroken high order momentum. Order intake increased significantly in the first half of the year to EUR 72,512 thousand (H1/2021: EUR 38,340 thousand).

We are already contributing to achieving the climate targets that will be necessary in the medium term with our technologies and market-ready products. The shifting geopolitical situation is further accelerating demand for replacement technologies from conventional power generators.

At the end of August, Germany and Canada strengthened their cooperation in the field of renewable energies and the production of green hydrogen by adopting concrete measures during the delegation trip of the Chancellor and Vice Chancellor. We participated in this groundbreaking meeting of political and business leaders together with the German delegation and were able to establish and intensify valuable contacts. We have already been active in the energy and mining sectors in Canada for more than ten years with our fuel cell technology and expect to benefit from improved framework conditions.

By entering into regional cooperation partnerships, such as our presence in India, we will further internationalize our business model. On the other hand, we are taking account of the challenges of a changed economic environment. Specifically, this means that we are intensively monitoring and constantly reviewing the effects of the war in Ukraine. We shortened our supply chains in the first half of the year and continuously increased our inventory of critical components and raw materials. We have also countered the increased component, material and logistics costs by adjusting our prices. We expect these early measures to have a positive impact on profitability over the next quarters.

Improved profitability, our high order backlog, our long-term partnerships, the increasing market penetration of our products and the successful capital increase allow us to look forward to a strong second half with confidence.”

Development of sales and orders

In the period from January 1 to June 30, 2022, SFC generated Group sales of EUR 38,159 thousand compared to EUR 31,132 thousand in the first half of the previous year, thus recording an increase of 22.6%. In the second quarter of 2022, SFC managed to accelerate its growth once again and increase Group sales by 43.2% to EUR 20,253 thousand (Q2/2021: EUR 14,148 thousand). The organic sales growth in the Clean Energy segment was the decisive factor behind this positive development.

Sales by segment in EUR thousand H1/2022 H1/2021 Change
Clean Energy 26,648 19,356 37.7%
Clean Power Management 11,510 11,776 -2.3%
Total 38,159 31,132 22.6%

Order intake shows unbroken high demand for SFC fuel cell and power management solutions. The order backlog increased further to EUR 65,176 thousand as of June 30, 2022, compared to March 31, 2022 (EUR 57,144 thousand).

Development of the segments

The Clean Energy segment remained the Group’s strongest segment in terms of sales in the reporting period. With a 69.8% (H1/2021: 62.2%) share of Group sales, its contribution to sales was expanded further. Clean Energy achieved strong sales growth of 37.7% in the first half of the year and generated sales of EUR 26,648 thousand (H1/2021: EUR 19,356 thousand). The segment benefited in particular from the sustained demand for methanol, but also hydrogen fuel cells for industrial applications, which accounted for the highest share of segment sales.

Sales in the Clean Power Management segment decreased slightly by 2.3% to EUR 11,510 thousand in the first half of the year (H1/2021: EUR 11,776 thousand) due to the persistently challenging procurement environment for electronic components, which led to shifts in sales. The Clean Power Management segment’s percentage share of Group sales thus declined to 30.2% (H1/2021: 37.8%).

Development of earnings

In the half-year under review, organic sales growth in the Clean Energy segment led to a 20.3% increase in consolidated gross profit to EUR 13,364 thousand (H1/2021: EUR 11,187 thousand). The resulting gross profit margin of the Group (gross profit as a percentage of sales) dropped slightly to 35.3% (H1/2021: 35.9%). The increased contribution to sales of the higher-margin Clean Energy segment was able to counteract the decline in the margin in the Clean Power Management segment in this context.

Gross profit for the individual segments compared to the previous year is as follows:

Gross profit by segment in EUR thousand H1/2022 H1/2021 Change
Clean Energy 10,691 7,788 37.3%
Clean Power Management 2,772 3,399 -18.4%
Total 13,463 11,187 20.3%

EBITDA adjusted for non-recurring effects amounted to EUR 3,112 thousand in the first half of 2022 (H1/2021: EUR 3,441 thousand) and was therefore in line with expectations. The underlying EBITDA margin declined by 2.9 percentage points to 8.2% (H1/2021: 11.1%). EBIT adjusted for non-recurring effects declined to EUR 709 thousand (H1/2021: EUR 1,400 thousand). This resulted in an underlying EBIT margin of 1.9% (H1/2021: 4.5%). Consolidated net profit was positive in the half-year under review and amounted to EUR 369 thousand (H1/2021: EUR -4,379 thousand), significantly higher than in the same period of the previous year, due in particular to the lower charges resulting from non-recurring effects. Earnings per share according to IFRS undiluted and diluted improved accordingly to EUR 0.03 in the first half of 2022 (H1/2021: EUR -0.30).

Balance sheet

Equity amounted to EUR 51,198 thousand as of June 30, 2022 (December 31, 2021: EUR 50,019 thousand) and thus increased by EUR 1,179 thousand. The equity ratio decreased slightly to 56.3% in the half year under review (December 31, 2021: 57.3%). The net financial position (freely available cash and cash equivalents less liabilities to banks) declined by EUR 11,882 thousand to EUR 10,006 thousand in the reporting period (December 31, 2021: EUR 21,888 thousand). As of June 30, 2022, the SFC Energy Group had 314 permanent employees (December 31, 2021: 288).

2022 forecast confirmed

In light of the developments cited in the Half-Year Report, SFC Energy will continue to focus on the structural improvement and further development of margins in fiscal year 2022, despite significantly increased geopolitical and economic uncertainties in the general environment, and will continue to pursue its targeted growth initiatives. All goals are consistently backed by concrete action plans.

The Management Board confirms the annual forecast for 2022. Based on the very positive development of sales of the Clean Energy segment in the first half of 2022, which was characterized by high demand dynamics, SFC Energy AG expects sales to rise by 17% to 29% year-on-year to approximately EUR 75,000 thousand to EUR 83,000 thousand. Underlying EBITDA, one of the significant financial performance indicators used to manage SFC’s operating business, is expected to be in the range of EUR 6,000 thousand to EUR 9,100 thousand. In this forecast, the Management Board assumes that no further major financial effects of COVID-19 on SFC’s business operations are to be expected, as well as no further significant negative effects of the war in Ukraine. In addition, the Management Board expects continued good price penetration for SFC products and positive exchange rate effects. In line with the expectations described above, the Management Board confirms the forecast for the underlying EBIT within a range of EUR 1,600 thousand to EUR 2,900 thousand.

Key figures for H1 2022 / H1 2021

In EUR thousand 01/01-06/30/2022 01/01-06/30/2021
Sales 38,159 31,132
Gross profit 13,463 11,187
Gross margin 35.3% 35.9%
EBITDA 3,060 -1,912
EBITDA margin 8.0% -6.1%
Underlying EBITDA 3,112 3,441
Underlying EBITDA margin 8.2% 11.1%
EBIT 658 -3,953
EBIT margin 1.7% -12.7%
Underlying EBIT 709 1,400
Underlying EBIT margin 1.9% 4.5%
Consolidated net income for the period 369 -4,379
Orders backlog* 65,176 17,091

* as of June 30

Detailed financial information

The Half-Year Report 2022 of SFC Energy AG is available for download at www.sfc.com.

SFC Energy AG will hold a conference call in English today, September 13, 2022, at 8:30 a.m. (CEST) for interested investors and members of the press. Please send an email to [email protected] to register.


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 Energy IR Contact:
Susan Hoffmeister
Tel. +49 89 125 09 03-33
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.

 

 



13.09.2022 CET/CEST 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
Germany
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: 1440515

 
End of News DGAP News Service

1440515  13.09.2022 CET/CEST

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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

INVESTOR-INFORMATIONEN
©boersengefluester.de
SFC Energy
WKN Kurs in € Einschätzung Börsenwert in Mio. €
756857 23,650 Kaufen 410,65
KGV 2023e KGV 10Y-Ø BGFL-Ratio Shiller-KGV
56,31 0,00 0,00 -50,64
KBV KCV KUV EV/EBITDA
3,82 380,94 6,38 -439,50
Dividende '22 in € Dividende '23e in € Div.-Rendite '23e
in %
Hauptversammlung
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
20,71% 5,64% -15,12% -12,34%
    
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Kraftwerke , 756857 , F3C , XETR:F3C