Activity for the first half of 2020: a strong commercial dynamic despite the Covid-19 crisis, combined with a net increase in cash flow

Signature of contracts representing thechange in scale of McPhy's commercial and industrial activity, such as Djewels and Zero Emission Valley projectsDespite the crisis linked to the Covid-19 pandemic, revenue increased by24%compared to the first half of 2019, rising to €5.4 million in the first half of 2020, without jeopardizing the medium-term growth outlookSignificant increase in cash, from €13 million to €24 million between 31 December 2019 and 30 June (+85%), mainly related...

LA MOTTE FANJAS, 28/07/2020 (informazione.news - comunicati stampa - energia)

specialized in hydrogen production and distribution equipment, today announced its results for the first half of 2020.

stated

Despite the health crisis linked to the Covid-19, McPhy's sales rose 24% to €5.4 million compared to €4.3 million in the first half of 2019. The gross margin on material consumption remained stable at 46% compared to 2019.

In order to successfully complete its industrialization phase, the Group has strengthened its teams since June 30, 2019. The net recruitment of 9 people over one year thus brings the workforce at 30 June 2020 to 101 employees and personnel expenses amounted to €4.1 million over the first half year, an increase of €0.6 million compared to the first half year 2019.

To maintain McPhy's technological leadership in its markets, the R&D effort has been reinforced and amounted to nearly €2.0 million over the period (€1.5 million in the first half of 2019). Net of the effect of the tax credit and subsidies, these expenses are up by €0.5 million compared to the same period last year.

The Group has put in place all the necessary measures to deal with the Covid-19 crisis, minimize the impact on its cash flow and preserve its continuity of operation. McPhy has thus contracted additional credit lines guaranteed by the French State for an amount of €4 million and has reinforced its financial flexibility by renewing an equity line with Kepler Cheuvreux on April 10, 2020.

As of June 30, 2020, McPhy had €24 million in cash and cash equivalents, a significant increase compared to the first half of 2019, resulting from the drawdowns performed on these lines of credit and equity financing for €9.1 million.

Operational teams fully engaged in the commissioning of several projects in mobility and industry sectors

release, on , after close of trading.

Specialized in hydrogen production and distribution equipment, McPhy is contributing to the global deployment of zero-carbon hydrogen as a solution for energy transition. With its complete range of products dedicated to the industrial, mobility and energy sectors, McPhy offers its customers turnkey solutions adapted to their applications in industrial raw material supply, recharging of fuel cell electric vehicles or storage and recovery of electricity surplus based on renewable sources. As designer, manufacturer and integrator of hydrogen equipment since 2008, McPhy has three development, engineering and production centers in Europe (France, Italy, Germany). Its international subsidiaries provide broad commercial coverage for its innovative hydrogen solutions. McPhy is listed on Euronext Paris (compartment C, ISIN code: FR0011742329, MCPHY).

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To date, name of the client and the project are confidential.

 

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