8:01 | 26.01.2009
DGAP-News: SFC Smart Fuel Cell AG: Preliminary Figures Confirm Latest Forecast
SFC Smart Fuel Cell AG / Preliminary Results
26.01.2009
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.
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– Sales Revenue of approx. EUR14.5 million slightly up (1 percent) over
previous year
– Success in all three core markets: leisure, industry, defense: 4,795
EFOY systems sold
– Manufacturing costs again significantly reduced
Brunnthal, January 26, 2009 – SFC Smart Fuel Cell AG, technology and market
leader for mobile and off-grid power solutions based on fuel cell
technologies, today has published preliminary unaudited figures for fiscal
year 2008. As recently announced, the Company slightly increased its total
revenues to EUR14.5 million (2007: EUR14.35 million), in spite of very
difficult market conditions in its main market (leisure).
SFC further deepened penetration of the leisure and industry markets, with
a total of 4,795 EFOY systems sold in 2008. Currently, 37 European motor
home manufacturers include the EFOY fuel cell as standard or optional
equipment in their product lines. In the industry market SFC achieved
revenue growth of approximately 44% in 2008 in the areas of environmental
monitoring, security and traffic technologies. However, as already
announced, follow-up orders for Power Manager that failed to materialize
and postponed orders for portable fuel cells and JDAs led to a slight
decrease in revenues in the defense area (9% down from 2007). By winning
the Wearable Power Prize of the U.S. Department of Defense (1st and 3rd
place), SFC impressively demonstrated that it provides the world’s leading
technology for alternative portable power generation in the defense area.
Given this fact, the company sees itself in an excellent position for
medium- and long-term growth in this market.
Preliminary EBIT for 2008 is between minus EUR4.5 million and minus EUR5.0
million (2007: minus EUR4.7 million), while preliminary after-tax income for
2008 is between minus EUR2.4 million and minus EUR2.9 million (2007: minus EUR2.5
million). Through careful spending and professional working capital
management, SFC exceeded cash flow and working capital goals, so that cash
on hand at December 31, 2008 amounted to approximately EUR45.6 million.
Growth in the industry and defense markets remains SFC’s goal for the
fiscal year 2009. For the leisure market, the limited visibility and
current environment do not allow a forecast at this point.
The audited financial statements will be published on March 24, 2009.
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 more than 11,000 fully
commercial products to industrial and private end users for more than four
years, and has created a convenient fuel cartridge supply infrastructure.
SFC is DIN ISO 9001:2000 certified. SFC is based in Brunnthal, Germany, and
has a U.S. sales and technical service office in Atlanta.
SFC Investor Relations: Barbara v. Frankenberg, Investor Relations, SFC
Smart Fuel Cell AG, Eugen-Sänger-Ring 4, D-85649 Brunnthal, Tel. +49 89 673
592 378, Fax. +49 89 673 592 369, Email: barbara.frankenberg@sfc.com,
Web: www.sfc.com
26.01.2009 Financial News transmitted by DGAP
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Language: English
Issuer: SFC Smart Fuel Cell AG
Eugen-Saenger-Ring 4
85649 Brunnthal
Deutschland
Phone: +49 (89) 673 592 – 100
Fax: +49 (89) 673 592 – 169
E-mail: info@sfc.com
Internet: www.sfc.com
ISIN: DE0007568578
WKN: 756857
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, München, Düsseldorf, Stuttgart
End of News DGAP News-Service
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