McPhy confirms its ramp-up

Press releaseMcPhy confirms its ramp-up Crossed the threshold of € 10 million in revenueStrong increase in current operating income: +29 %Affirmation for the pursuit of high activity growth in 2018 La Motte-Fanjas, March 13, 2018 - 6:00 p.m. - McPhy (Euronext Paris Segment C:...

London, 13/03/2018 (informazione.news - comunicati stampa - energia)

Press

, specialist in equipment for the production, storage and distribution of hydrogen, announced today the significant improvement of its 2017 results.

Pascal Mauberger, Chairman and Chief Executive Officer of McPhy, stated:  "

The sales revenue of McPhy rose by 34 %, crossing the threshold of 10 million euros. This growth was primarily driven by the Europe zone (increased by 84 %), a fast-growing market on which McPhy is well positioned thanks to its historical foundation.

For 2017, strong revenue growth associated with the control of fixed costs led to a consequent improvement of the recurring operating income by +29 %, and of the operating income by +20 %.

As of December 31, 2017, McPhy has a net cash position of 5 million euros with a total balance sheet of 20.5 million euros.

Hydrogen has become an economic reality, benefiting from unprecedented market momentum: it is attracting the interest of politicians, industrialists and investors globally. At the beginning of what is looking to be a new era, the technologies and the industrial infrastructure of McPhy are ready for the "scaling up" that was announced in the Hydrogen Council study .  

In the shorter term, the Group is currently making significant contracts which were expected for the second semester of 2017 and now deferred to 2018.

Some industrial players work on very large-scale electrolysis platform projects (from 10 to 100 MW), which will have a significant impact on sales revenues. For these markets, McPhy provides a well-positioned offer thanks to its McLyzer generators.

In the context of a leading market, the Group reiterates its forecast for strong activity growth in 2018. To support this "scaling up", the Group continues to explore several strategic options, including industrial partnership, accelerate its commercial expansion and to strengthen its financial structure.

The Group is pleased to join the Hydrogen Council as a "supporting member". This global initiative, unique in its kind, aims to show that hydrogen is one of the key solutions of the energy transition. Hydrogen Council members have indicated their willingness to step up their investment in the development and commercialization of hydrogen and fuel cells. Their investments are currently estimated at € 1.4 billion per year . This acceleration will be made possible by stronger support by decision-makers in the role of hydrogen in the future energy mix, in particular via appropriate public policies and programs. This is a great opportunity to work with major industry players in the large-scale deployment of hydrogen technologies and uses.

Results for the first semester 2018 - Thursday July 26, 2018, after closing of stock exchange.