McPhy confirms its ramp-up

• Crossed the threshold of € 10 million in revenue

• Strong 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: MCPHY, FR0011742329), specialist in equipment for the production, storage and distribution of hydrogen, announced today the significant improvement of its 2017 results.

This strong growth, coupled with an excellent control of our fixed costs, has led to a significant improvement in our results this year.

Pascal Mauberger, Chairman and Chief Executive Officer of McPhy, stated: “2017 highlighted the huge needs of the market induced by the necessary transition toward a decarbonized economy. In this context, McPhy demonstrated the pertinence of its cutting-edge technologies, proven by the international commercial and industrial success of all our activities. This success has allowed us to cross the threshold of € 10 million in revenue. This strong growth, coupled with an excellent control of our fixed costs, has led to significant improvement in our results this year. We are also delighted and proud to join the ranks of the Hydrogen Council as a “supporting member”. It’s a great opportunity for us to work with our peers in the large-scale deployment of the technologies and uses of hydrogen. Given the strong activity in a lead market and the ongoing ramp-up of our Group, we reaffirm our pursuit of high activity growth in 2018.”

Income statement highlights

Controlling operational expenditure and strong increase in sales revenue

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 (2) with a total balance sheet of 20.5 million euros.

Affirmation for the pursuit of high activity growth in 2018

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” (3) 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(4) and now deferred to 2018.

2. A financial investment of € 0.6 million as of December 31, 2017 (€ 1.0 million as at December 31, 2016) that does not strictly meet the definition of “cash equivalents” according to IFRS has been recognized in “Financial assets”. This amount is included in the amount of closing management cash.
3. http://hydrogencouncil.com/hydrogen-scaling-up/
4. Press release of January 23, 2018 for revenues 2017

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Download the release [PDF]

Press Release | EN Communiqué de presse | FR

About McPhy

In the framework of the energy transition, and as a leading supplier of hydrogen production, storage and distribution equipment, McPhy contributes to the deployment of clean hydrogen throughout the world.
Thanks to its wide range of products and services dedicated to the hydrogen energy, zero emission mobility and industrial hydrogen markets, McPhy provides turnkey solutions to its clients. These solutions are tailored to our client applications: renewable energy surplus storage and valorization, fuel cell car refueling, raw material for industrial sites.
As a designer, manufacturer and integrator of hydrogen equipment since 2008, McPhy has three development, engineering and production units based in Europe (France, Italy, Germany).
The company’s international subsidiaries ensure a global sales coverage of McPhy’s innovative hydrogen solutions.

McPhy is listed on NYSE Euronext Paris (Segment C, ISIN code: FR0011742329; ticker: MCPHY).

www.mcphy.com

Media relations

NewCap
Nicolas Merigeau
T. +33 (0)1 44 71 94 98
mcphy@newcap.fr

Investor relations

NewCap
Julie Coulot | Emmanuel Huynh
T. +33 (0)1 44 71 20 40
mcphy@newcap.fr

 

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