SFC Energy AG: Preliminary 2011 figures meet expectations

SFC Energy AG / Key word(s): Preliminary Results

26.01.2012 / 08:28

- Total sales SFC Group: approx. 15.4 million EUR
- SFC Energy achieves approx. 14.5 million EUR sales - up by 9% over 2010
- Acquired PBF fully consolidated since December 1, 2011
Brunnthal, Munich, January 26, 2012 - SFC Energy AG announces preliminary, unaudited figures for the 2011 fiscal year.

According to guidance SFC Group achieved total sales of approx. 15.4 million EUR - including the acquired Dutch PBF Group B.V. (PBF) starting from the date of initial consolidation on December 1, 2011.
In 2011, SFC Energy achieved approx. 14.5 million EUR sales (2010: 13.3 million EUR), giving a 9% growth on 2010. This sales growth is mainly due to positive development of the defense market (plus 26% over 2010) and the industry market (plus 32% over 2010). As expected, sales in the leisure market slightly declined by 8% compared to previous year in the context of the EFOY Comfort launch.

In December 2011, PBF generated sales of 0.9 million EUR. In total, PBF achieved sales of approx. 12.8 million EUR in 2011 (2010: approx. 9.0 million EUR).

With an underlying EBIT of approx. minus 4.0 million EUR, SFC Energy achieved the targeted significant improvement in result compared to previous year. Including the expected 2.5 million one-off items, the EBIT reached approx. minus 6.6 million EUR. Those 2.5 million EUR one-off items are made up mainly of PBF acquisition costs (0.5 million EUR), expenses for lease space overcapacities (0.6 million EUR), extraordinary amortization on capitalized development costs (0.6 million EUR), costs resulting from the termination of employment contracts (0.5 million EUR), and compensation payments (0.3 million EUR).

The purchase price allocation resulting from the acquisition of PBF led to an amortization of intangible assets acquired and inventory valuation effects amounting to  approx. 0.1 million EUR.

For the 2012 fiscal year SFC continues to expect to achieve EBITDA break-even for SFC Group in the second half of the year. A more detailed outlook and the complete key data will be published with the consolidated financial statements 2011 on March 29, 2012.

SFC Investor Relations:
Barbara von Frankenberg 
Head of IR and PR
SFC Energy AG
Eugen-Sänger-Ring 7
D-85649 Brunnthal 
Tel. +49 89 673 592-378
Fax. +49 89 673 592-169
Email: [email protected]

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Language: English Company: SFC Energy AG Eugen-Saenger-Ring 7 85649 Brunnthal Germany Phone: +49 (89) 673 592 - 100 Fax: +49 (89) 673 592 - 169 E-mail: inf[email protected] Internet: www.sfc.com ISIN: DE0007568578 WKN: 756857 Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, München, Stuttgart  
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