McPhy Energy: Activity for the first half of 2019,excellent sales momentum
July 30 2019 - 11:45AM
McPhy Energy: Activity for the first half of 2019,excellent sales
momentum
Press release
Activity for the first half of 2019: excellent sales
momentum
- Revenues of €4.3 million in the first half of
2019, up 23% compared to the first half of
2018
- As previously announced, over €5 million in orders booked
during the period
- Two new orders for a total of €2 million recorded in July
- Confirmation of medium-term growth prospects
La Motte-Fanjas (France), July 30, 2019
– 5:45 pm (CEST) – McPhy (Euronext Paris Compartment C: MCPHY,
FR0011742329) a specialist in hydrogen production and
distribution equipment, today announces its results for the first
half of 2019.
The confidence of our partners and the substantial
opportunities offered by the carbon-free hydrogen market confirm
our medium-term growth prospects.” |
Pascal Mauberger, Chairman and Chief Executive Officer of
McPhy, states: “The beginning of 2019 has confirmed
McPhy’s excellent sales momentum, with over 7 million euros in
orders recorded in France and abroad at the end of July. Among our
commercial successes, we notably received orders for 7 stations
regarding the deployment of hydrogen mobility in France, an order
for heavy-duty vehicle mobility in Germany and the largest ever
order for 11 electrolyzers for the Bangladesh Meteorological
Department. Our technological lead on the hydrogen mobility market
will be strengthened with the launch of our “Augmented McFilling”
hydrogen station. The latter will offer innovative, proprietary and
patented architecture managed by McPhy’s smart supervision software
that will make the station dynamically reconfigurable. In June,
alongside our partners ENGIE and SMT-AG (the Artois-Gohelle
transport authority), we inaugurated, in the Hauts-de-France
Region, France’s first refueling station for hydrogen buses, which
is equipped with McPhy technologies. The confidence of our partners
and the substantial opportunities offered by the carbon-free
hydrogen market confirm our medium-term growth prospects”. |
Simplified income statement
(€
millions) |
H1 2019 |
H1 2018 |
Revenues |
4.3 |
3.5 |
Other operating
income |
0.4 |
0.5 |
Income from ordinary activities |
4.7 |
4.0 |
Purchases consumed |
(1.8) |
(1.9) |
Personnel costs |
(3.5) |
(3.1) |
Other operating expenses |
(3.0) |
(2.5) |
Depreciation, amortization and provisions |
(0.4) |
(0.5) |
Recurring operating result |
(4.1) |
(4.0) |
Other operating income and expenses |
0.0 |
0.0 |
Operating result |
(4.1) |
(4.0) |
Financial result |
(0.1) |
(0.1) |
Income tax |
(0.0) |
(0.0) |
Net income |
(4.2) |
(4.1) |
Limited review of half-year consolidated accounts approved by
the Board on July 30, 2019
Results for the first half of 2019
McPhy recorded a 23% increase in revenues to
€4.3 million in the first half of 2019, compared with €3.5 million
in the first half of 2018, notably driven by the delivery of the
station for refueling the first 100%-hydrogen bus line in France.
The extra costs incurred by this first reference for McPhy impacted
the increase in other operating expenses (€3.0 million in the first
half of 2019 versus €2.5 million in the first half of 2018).
Personnel costs totaled €3.5 million versus €3.1
million in the first half of 2018 (+€0.4 million). This increase
was due to the strengthening of the teams, notably the operational
and sales teams, to absorb the growth in activity during the first
half of the year and prepare for the acceleration expected in the
second half. At June 30, 2019, McPhy had a cash position of €8.7
million.
Lastly, within the framework of the Pushy1
project, in accordance with the contract terms and as expected by
McPhy, Bpifrance Financement informed the Company, in July 2019, of
the cancellation of the repayment of the debt on the balance sheet
for €3.5 million (including €0.4 million of debt discounting). This
cancellation will be written down in accounts during the second
half of 2019. The following table indicates the value of the loans
and financial debt before and after the cancellation of the
repayment of this debt.
€ millions |
At 30 June 2019 |
Pre cancellation |
Post cancellation |
Non-current financial debt |
5.7 |
2.2 |
Current
financial debt |
1.1 |
1.1 |
Total loans and financial debt |
6.8 |
3.3 |
2019 highlights
- Excellent sales momentum for McPhy, with over €7 million in
orders booked in France and abroad
Orders booked and announced during the
first half of 2019:
- Order for 6 stations for the deployment of hydrogen mobility as
part of the “EAS-HyMob” project in the Eure and Calvados
departments (Normandy)
- Order for a 40 kg per day 30-bar electrolyzer for a hydrogen
station in Chambéry, as part of the Auvergne-Rhône-Alpes region’s
“Zero Emission Valley”2 project
- Order for 2 MW of high-power electrolysis in Germany for the
Energy market, taking the high-power electrolysis capacity
implemented by McPhy to 16 MW
- Largest ever order for McPhy’s PIEL product range, with 11
electrolyzers for the Bangladesh Meteorological Department
Orders booked in July 2019:
- Order for a McFilling 200-350 station in Germany, as part of a
similar project to the one undertaken with the SMT-AG transport
authority, following an order for the deployment of a McLyzer
400-30 electrolyzer from the same client at the beginning of the
year
- Order for an additional station, as part of the “EAS-HyMob”
project in Normandy, taking the total number of McFilling hydrogen
stations already or currently being installed to 23, thus
strengthening McPhy’s solid positioning on the carbon-free mobility
market
- Launch of “Augmented McFilling”, McPhy’s new smart hydrogen
station architecture for heavy-duty vehicles
- Patent filed for the “Augmented McFilling” hydrogen station for
heavy-duty vehicles, which is able to address the massive hydrogen
needs inherent to the necessary decarbonization of heavy-duty
transport and long-distance vehicles (trains, trucks and
buses)
- Innovative architecture that combines compression, storage,
cooling and vehicle delivery functions
- Managed by McPhy’s smart supervision software, which makes the
station dynamically reconfigurable for an infinite number of usage
scenarios and real-time adaptation to clients’ requirements with no
capacity limits
- Inauguration of France’s first refueling station for hydrogen
buses
- In the presence of the project’s partners, on Friday June 21 in
Houdain (Hauts-de-France Region), the Artois-Gohelle Transport
Authority (SMT-AG) inaugurated France’s first refueling station for
hydrogen buses
- The entire clean hydrogen production, storage and distribution
chain is equipped with McPhy technology
- A genuine innovation in France, this 100% hydrogen bus line and
its dedicated refueling station are precursors of the “zero
emission mobility” revolution that is becoming increasingly
widespread in France, Europe and globally
Upcoming financial
communication
2019 annual revenues: Tuesday
January 28, 2020, after market.
About McPhy
In the framework of the energy transition, and as a leading
supplier of hydrogen production 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). |
Media relations NewCapNicolas
MerigeauT. +33 (0)1 44 71 94 98mcphy@newcap.eu
Investors Relations
NewCapThéodora Xu | Emmanuel HuynhT. +33 (0)1 44
71 20 42mcphy@newcap.eu |
Follow us on @McPhyEnergy |
1 This project was aiming at developing two
innovative technological offers (OSSHY and LASHY) combining
hydrogen production through the electrolysis of water and its
storage in the form of hydrides.
2https://www.auvergnerhonealpes.fr/uploads/Presse/91/203_486_CP-12-20-Zero-Emission-Valley-reconnu-au-niveau-europeen.pdf
- PR_McPhy_H1 2019 results_ENG_vDEF
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