(Brunnthal) – According to preliminary figures for 2020, SFC Energy AG, provider of hydrogen and methanol fuel cells for stationary and mobile power supply, recorded sales of 53,2 million euros, a decrease of 9,1 percent compared to the previous year. Earnings before interest, taxes, depreciation and amortization (EBITDA) are 2,9 million euros (2019: 3,6 million euros).
“High demand for fuel cells”
For the fuel cell business in the Clean Energy & Mobility segment, SFC reports a sales increase of 61,6 percent to 19 million euros (2019: 11,8 million euros). The company sees “high demand for fuel cells, particularly for industrial and stationary applications in Europe, North America and Asia”.
In contrast, sales in the Oil & Gas segment with customers in off-grid oil and gas plants fell from 22 million to 17,7 million euros. Sales in the Industry division fell by 2020 percent to 21,2 million euros in the 13,6 reporting year compared to 17,2 million euros in the previous year. According to the information, “in particular the global measures to contain the pandemic, such as travel, contact and gathering restrictions” have made both the sales activities and the on-site installation of the applications for customers more difficult. SFC also reported a significant decline in sales for the Defense & Security segment of 60,6 percent to 3,0 million euros (2019: 7,6 million euros). The reasons for this are particularly restrictive lockdown measures in core international markets such as Israel and India, as well as delays in the awarding of contracts by government procurement agencies caused by the pandemic.
Peter Podesser, Managing Director of SFC Energy AG, is nevertheless “satisfied with the business development”. The aim is to expand the “lead in product maturity and market access”, accelerate the development of the new generation of hydrogen fuel cells and “evaluate” complementary technologies such as electrolysis for the on-site production of green hydrogen.
Sales jump planned by 2025
For the 2021 financial year, the board of directors forecasts consolidated sales of between 61 and 70 million euros. In a revised medium-term plan, the company sees sales growth to around 2025 to 350 million euros by 400. “These assumptions are based on the extremely dynamic global demand for hydrogen and methanol fuel cells in stationary applications,” it said in a statement.
SFC Energy AG plans to publish the final figures for the 2020 financial year on March 25, 2021. According to its own information, the company has sold around 50.000 fuel cells worldwide so far. The headquarters is Brunnthal near Munich, production locations are in the Netherlands, Romania and Canada.
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SFC headquarters Brunnthal / © SFC Energy AG
