Latest

SFC Energy: Business picked up in fourth quarter

The first nine months of 2020 were marked by the effects of the corona pandemic at SFC Energy. Nevertheless, the company from Brunnthal was able to increase the order backlog from 10.3 million euros to 13 million euros compared to the same period in the previous year. Turnover was 39.2 million euros after 43.8 million euros in the first nine months of last year. Before interest and taxes, the loss of the hydrogen and fuel cell group increases from 2.2 million euros to 3.4 million euros. The bottom line is that SFC Energy reports a nine-month loss of 3.9 million euros compared to just under 3 million euros in the same period last year.

“Despite the restrictions caused by the COVID-19 pandemic, the nine-month period showed a decline in sales of 10.4%, which is above expectations. The development was much better than we had assumed in March, ”said SFC boss Peter Podesser on Monday.

SFC Energy does not provide a specific forecast for 2020, the earlier forecast was withdrawn due to the pandemic crisis, like so many other companies. In the current quarter business is picking up, it says in Nine month report from SFC Energy. Nevertheless, it is assumed that sales and profitability will decline.

In contrast, the medium to long-term forecasts of the southern Germans are confirmed – among other things due to the hydrogen activities. “We are one of the first companies in the world to be able to deliver industrially manufactured products and benefit from this global development very early on. From next year we also see considerable opportunities here to derive concrete benefits from both R&D funding and market activation programs, ”says Podesser.

More about cleantech stocks on 4investors: click here

At a glance – chart and news: SFC Energy

Related Articles

Back to top button