SFC Smart Fuel Cell AG: Preliminary Figures Confirm 2007 Guidance, >100% Sales Growth
SFC Smart Fuel Cell AG / Preliminary Results/Preliminary Results
Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG.
The issuer / publisher is solely responsible for the content of this announcement.
SFC – Preliminary Figures Confirm 2007 Guidance, >100% Sales Growth
- Sales more than doubled compared to previous year
- Sustainable market success in all three core markets (Leisure, Industry, Defense) - 4.483 EFOY systems sold
- Further product cost reduction
- Loss 2007 within expectations
Brunnthal, January 22, 2008 – SFC Smart Fuel Cell AG, technology and market leader for mobile and off-grid power solutions based on fuel cell technologies, today publishes preliminary 2007 figures. As announced, with approx. 14.3 million EUR, the company was able to increase sales in 2007 by more than 100 percent compared to the previous year (7.0 million EUR).
From today’s point of view the EBIT 2007 at a range between minus 4.6 and minus 4.9 million EUR is fully within expectations. Contained in this are increases in marketing spending and a one-time effect relating to the cancellation of stock options in connection with the IPO in the amount of approx. 1 million EUR. Without this negative one-time effect EBIT 2007 would be between minus 3.6 and minus 3.9 million EUR and thus better than previous year’s EBIT of minus 4.0 million EUR. This is mainly due to continued product cost reduction. Net loss improved to approx. minus 2.4 to minus 2.7 million EUR from minus 4.4 million EUR in 2006.
As of the end of 2007 cash and cash equivalents were at approx. 52.9 million EUR, thus also surpassing the set targets for cash flow and working capital.
With a total of 4,483 EFOY systems sold in 2007 (2006: 2,185) penetration into the leisure markets was further accelerated. Currently, 29 European motor home manufacturers have included the EFOY fuel cell into their accessory portfolio. The number of pilot projects in industrial applications in Europe and the U.S. was further increased with a main focus on security and traffic technologies. In the defense area significant development contracts from German and U.S. defense organizations and first serial orders for the Power Manager reflect the strong pioneering role of SFC Smart Fuel Cell AG in the field of portable power supplies.
Primary target for the 2008 business year is to achieve EBIT break even by further aggressive sales growth and continued product cost reductions. The publication of the audited 2007 statements is scheduled for Friday, March 14, 2008.
About SFC Smart Fuel Cell AG
SFC Smart Fuel Cell AG (www.sfc.com) is market leader in fuel cell technologies for mobile and off-grid power applications serving the leisure, industrial and defense markets. As one of Germany’s technology pioneers, SFC has won numerous innovation awards. SFC has alliances with leading companies in a wide range of industries. Unlike most other fuel cell manufacturers, who are in the research and development phase or run subsidized demonstration projects, SFC has shipped fully commercial products to industrial and private end users for four years, and has created a convenient fuel cartridge supply infrastructure. SFC is DIN ISO 9001:2000 certified.
SFC Investor Relations:
Barbara v. Frankenberg
Investor Relations Manager
SFC Smart Fuel Cell AG
Tel. +49 89 673 592 378
Fax. +49 89 673 592 369
Email: [email protected]
22.01.2008 Financial News transmitted by DGAP
Issuer: SFC Smart Fuel Cell AG
Phone: +49 (89) 673 592 - 100
Fax: +49 (89) 673 592 - 169
E-mail: [email protected]
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, München, Düsseldorf, Stuttgart
End of News DGAP News-Service