McPhy Energy : First-half 2018 business trends: new milestones reached in McPhy's development

 Press releaseFirst-half 2018 business trends: new milestones reached in McPhy's development Pursuit of McPhy's innovation drive with the launch of a new range of electrolyzers developed in a breakthrough with De Nora Industrial and commercial partnership signed with EDFBalance...

London, 26/07/2018 (informazione.news - comunicati stampa - energia)

specialist in hydrogen production, storage and distribution equipment, is today announcing its interim 2018 results.

Pascal Mauberger, Chairman and Chief Executive Officer of McPhy, commented:

McPhy's revenue totaled €3.5 million, compared with €5.5 million in the first six months of 2017. The figure for the first half of 2017 included €2.8 million in revenue under the HEBEI contract.

Despite delays to competitive tenders temporarily affecting revenue growth and operating income, the Group maintains its business momentum, especially in very large-scale electrolysis platform projects (from 10 to 100 MW) for industry, which the impact should be substantial on revenue.

During the first half, McPhy logged an order in the clean mobility market for a second hydrogen station with an electrolyzer from CNR and ENGIE GNVERT in Lyon. It also inked a deal for its first hydrogen station for buses in the Hauts de France region, lifting to 11 the number of McPhy hydrogen stations in France, and to 30,500 km in clean mobility the daily potential of of all its stations.

As a result of revenue trends in the first half of 2018, combined with a significant R&D effort, McPhy's operating performance fell back 34% compared with the first six months of 2017.

McPhy held €18.6 million in cash at June 30, 2018 following the capital transactions completed in the first half of the year. Its stronger balance sheet will provide a springboard for it to speed up the pace of its growth, energize its business development and conquer new markets.

During the first half of 2018, the expected ramp-up in the hydrogen market predicted in the Hydrogen Council's Scaling Up report clearly materialized. The French government also undertook to support the development of a carbon-free hydrogen sector as part of the energy transition. In 2019, a budget of €100 million will be devoted to rolling out carbon-free hydrogen in the industry, mobility and energy sectors across France.

The large-scale deployment of these new clean hydrogen applications and technologies will be made possible largely through water electrolysis. With its industry-leading Augmented McLyzer technology, McPhy has established an undeniable lead in the sector, and its product range is getting more efficient and competitive all the time.

Its "qualified commercial pipeline" currently stands at €80 million. This business indicator does not include very large-scale electrolysis platform projects (from 10 to 100 MW).

McPhy is reiterating its forecast of business growth on the basis of the current highly supportive market conditions and its robust balance sheet.

Results for 2018 - Tuesday January 22, 2018, after closing of stock exchange.

ABOUT MCPHY

In the framework of the energy transition, and as a leading supplier of hydrogen production, storage and distribution equipment, McPhy contributes to the deployment of clean hydrogen throughout the world.

Thanks to its wide range of products and services dedicated to the hydrogen energy, zero emission mobility and industrial hydrogen markets, McPhy provides turnkey solutions to its clients. These solutions are tailored to our client applications: renewable energy surplus storage and valorization, fuel cell car refueling, raw material for industrial sites.

As a designer, manufacturer and integrator of hydrogen equipment since 2008, McPhy has three development, engineering and production units based in Europe (France, Italy, Germany).

The company's international subsidiaries ensure a global sales coverage of McPhy's innovative hydrogen solutions.

McPhy is listed on NYSE Euronext Paris (Segment C, ISIN code: FR0011742329; ticker: MCPHY).

Chiffre d'affaires pour l'année 2018 - mardi 22 janvier 2019 après Bourse.

Spécialiste des équipements de production, stockage et distribution d'hydrogène, McPhy contribue au déploiement mondial de l'hydrogène propre comme solution pour la transition énergétique.

Fort de sa gamme complète dédiée à l'hydrogène énergie, à la mobilité zéro émission et à l'hydrogène industriel, McPhy offre à ses clients des solutions clés en main adaptées à leurs applications de stockage et valorisation des surplus d'électricité d'origine renouvelable, de recharge de véhicules électriques à pile à combustible et d'approvisionnement en matière première industrielle.

Concepteur, fabricant et intégrateur d'équipements hydrogène depuis 2008, McPhy dispose de trois centres de développement, ingénierie et production en Europe (France, Italie, Allemagne). Ses filiales à l'international assurent une large couverture commerciale à ses solutions hydrogène innovantes.

McPhy est coté sur Euronext Paris (compartiment C, code ISIN : FR0011742329, code mnémonique : MCPHY).