McPhy Energy: Activity for the first half of 2019,excellent sales momentum

 Press release Activity for the first half of 2019: excellent sales momentumRevenues of€4.3 millionin the first half of 2019, up23%compared to the first half of 2018As previously announced, over €5 million in orders booked during the period Two new orders for a total of €2 million recorded in JulyConfirmation of medium-term growth prospects La Motte-Fanjas (France), July 30, 2019 – 5:45 pm (CEST) – McPhy (Euronext Paris Compartment C: MCPHY, FR0011742329)a specialist...

LA MOTTE FANJAS, 30/07/2019 (informazione.news - comunicati stampa - energia)

Activity for the first half of 2019: excellent sales momentum

La Motte-Fanjas (France), July 30, 2019 – 5:45 pm (CEST) – McPhy (Euronext Paris Compartment C: MCPHY, FR0011742329) a specialist in hydrogen production and distribution equipment, today announces its results for the first half of 2019.

  

Simplified income statement

Limited review of half-year consolidated accounts approved by the Board on July 30, 2019

Results for the first half of 2019

McPhy recorded a 23% increase in revenues to €4.3 million in the first half of 2019, compared with €3.5 million in the first half of 2018, notably driven by the delivery of the station for refueling the first 100%-hydrogen bus line in France. The extra costs incurred by this first reference for McPhy impacted the increase in other operating expenses (€3.0 million in the first half of 2019 versus €2.5 million in the first half of 2018).

Personnel costs totaled €3.5 million versus €3.1 million in the first half of 2018 (+€0.4 million). This increase was due to the strengthening of the teams, notably the operational and sales teams, to absorb the growth in activity during the first half of the year and prepare for the acceleration expected in the second half . At June 30, 2019, McPhy had a cash position of €8.7 million.

Lastly, within the framework of the Pushy project, in accordance with the contract terms and as expected by McPhy, Bpifrance Financement informed the Company, in July 2019, of the cancellation of the repayment of the debt on the balance sheet for €3.5 million (including €0.4 million of debt discounting). This cancellation will be written down in accounts during the second half of 2019. The following table indicates the value of the loans and financial debt before and after the cancellation of the repayment of this debt.

2019 highlights

Orders booked and announced during the first half of 2019:

Orders booked in July 2019:

Upcoming financial communication

2019 annual revenues : Tuesday January 28, 2020, after market.

About McPhy

This project was aiming at developing two innovative technological offers (OSSHY and LASHY) combining hydrogen production through the electrolysis of water and its storage in the form of hydrides.

https://www.auvergnerhonealpes.fr/uploads/Presse/91/203_486_CP-12-20-Zero-Emission-Valley-reconnu-au-niveau-europeen.pdf    

 

 

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