SFC Energy AG announces preliminary consolidated figures for 2014: highest level of sales in the company's history and break-even on underlying EBITDA basis

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

2015-02-05 / 07:30

SFC Energy AG - Corporate News - ISIN DE0007568578

SFC Energy AG announces preliminary consolidated figures for 2014: highest level of sales in the company's history and break-even on underlying EBITDA basis

- Preliminary consolidated sales of c. EUR 53.6 million around 65.5% higher than previous year's figure of EUR 32.4 million.

- Significantly improved profitability: SFC Energy broke even on an underlying EBITDA basis, with underlying EBITDA improving to c. EUR 0.4 million (previous year: minus EUR 2.2 million).

- Record Q4/2014 in terms of sales and break-even on underlying EBIT

- Outlook for 2015: positive earnings growth from increased demand in Security & Industry segment expected despite challenging market environment in the Oil & Gas segment

Brunnthal/Munich, February 5, 2015 - SFC Energy AG (ISIN: DE0007568578), a leading international supplier of stationary and mobile hybrid-power supply solutions on the basis of fuel cells, today announced its preliminary consolidated figures for fiscal year 2014. The group's sales rose to c. EUR 53.6 million in the reporting period. This stands for an increase of around 65.5 %, thus reaching their highest level ever, also due to the best fourth quarter in the company's history. Excluding exchange rate effects the group's sales reached c. EUR 55.0 million. SFC Energy also significantly improved its profitability. Preliminary calculations show that the company thus broke even as planned as underlying EBITDA reached c. EUR 0.4 million in fiscal year 2014. In the previous year, underlying EBITDA stood at minus EUR 2.2 million.

The basis for the significant increase in sales was the encouraging growth in the Oil & Gas and Security & Industry segments. There the fuel cell business performed particularly well in 2014, with organic growth of 18.2 %.

In Q4/2014 SFC Energy AG achieved record sales of c. EUR 16.3 million (previous year: EUR 11.8 million). The underlying EBITDA was c. EUR 1.6 million (previous year minus EUR 0.3 million). The underlying EBIT also broke even with c. EUR 1.2 million compared to minus EUR 2.4 million in the prior year.

Dr. Peter Podesser, the CEO of SFC Energy AG, is pleased with the company's performance: "These figures show that the company's revenues soared to c. EUR 53.6 million. Despite the decline in oil prices in the second half of the year and the negative effects of the exchange rate for the Canadian dollar, our Canadian subsidiary Simark Controls generated organic growth of more than 20% and therefore above plan. In addition, SFC Energy broke-even on an underlying EBITDA basis. The successful integration of the Oil & Gas business is not just reflected in the significant increase in revenues and earnings. The acquisition of Simark Controls has also generated synergy for further growth in North America. With the Canadian market launch of the EFOY ProCabinet, an extreme temperature fuel cell solution, we quickly combined Simark's know-how with SFC Energy's technology. In the current fiscal year we will continue to penetrate the Oil & Gas market, with a focus on the United States."

The SFC Energy AG Management Board is cautiously optimistic about 2015 despite the difficult market environment in the Oil & Gas sector. An ongoing low oil price will lead to reduced investments in the short term resulting in a delay in individual projects. However management believes that SCF Energy's marketing efforts in the Industry and Defense sectors together with the streamlining of cost structures in Canada will lead to even better operating results than in 2014.

"SFC Energy now has a broader product/market portfolio than in prior years and thus is on much sounder economic footing. Even if the outlook for the current year is more difficult because of the collapse in oil prices in recent months, the fundamentals in the Oil & Gas industry remain essentially unchanged over the medium term, and no one questions the enormous growth potential in that field," said Dr. Podesser.

SFC Energy will hold a telephone conference in English for interested investors and journalists today, 5 February 2015, at 10:00 a.m. To register please send an e-mail to [email protected].

The figures announced in this press release are preliminary and unaudited. SFC Energy AG will publish the final figures for fiscal year 2014 and further information on the Guidance for 2015 in its complete 2014 annual report on 26 March 2015.

SFC Investor Relations

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]
Web: www.sfc.com

CROSS ALLIANCE communication GmbH
Susan Hoffmeister
Tel. +49 89 89827227
Email: [email protected]

2015-02-05 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

319737  2015-02-05