SFC Energy, the German fuel-cell specialist, has announced an impressive increase in profit and revenue for the first half of the year. The company's shares have gained momentum, as its success can be attributed to robust sales growth in both Asia and North America.
During the first half of the year, SFC Energy reported group sales of 57.05 million euros ($62.2 million), a significant jump from 38.16 million euros in the previous year. This surge in sales was primarily driven by strong growth in Asia and North America, as well as the success of its clean energy and clean power management segments.
Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) more than doubled to 7.32 million euros, compared to 3.11 million euros in the previous year. Additionally, consolidated net profit rose to 3.32 million euros, showing substantial growth from 369,000 euros.
Outlook for 2023
SFC Energy is optimistic about its future financial performance. The company currently forecasts group sales for 2023 to be between 107 million euros and 111 million euros. This projection indicates that SFC Energy will reach the upper half of its previous forecast of 103 million euros to 111 million euros. Furthermore, the company expects adjusted EBITDA to range from 10.5 million euros to 14.1 million euros, up from the previous estimate of 8.9 million euros to 14.1 million euros.
With these positive figures, SFC Energy demonstrates its commitment to growth and innovation in the fuel-cell industry.
Our Latest News
TSMC, the largest third-party semiconductor manufacturer, is facing delays in chip deliveries due to slowing demand. Stock prices have dropped and the company h...
Threads, the popular mobile app, is launching a desktop version to meet user demands and boost growth for Meta Platforms Inc. It offers a seamless experience an...