DGAP-News: Heliocentris Fuel Cells AG: Heliocentris Reports Financial Results for Fiscal Year 2008 - Revenues up by 23 %

Heliocentris Fuel Cells AG / Final Results

25.05.2009

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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Berlin, Germany - May 25 2009. Heliocentris Fuel Cells AG, a leading fuel
cell system integrator, today announced its financial results in accordance
with German Accounting Standards (HGB) for the fiscal year 2008, ending
December 31, 2008. The company achieved Group revenues of EUR 2.57 million
(2007: EUR 2.09 million), which is a 23 % increase over 2007. The company
reports a net loss of EUR 2.29 million compared to a net loss of EUR 1.39
million in the previous year and was thus in line with the company’s
expectations.

Highlights of the Year 2008:
* Integration of a 32 kW fuel cell system in a midi bus of the city of
Barth and receipt of the follow-up order for the delivery of an
electrolyser for the hydrogen fuelling of the fuel cell bus
* Expansion of the cooperation with Ballard Power Systems through an
agreement to integrate Ballard’s new generation of fuel cells and through
the exclusive worldwide takeover of customer service for Ballard’s Nexa
Power Module
* Presentation of system prototypes at the Hannover Fair based on fuel cell
stacks of our strategic partners Ballard Power Systems and Schunk

Group revenues for the full year 2008 amounted to EUR 2.57 million (2007:
EUR 2.09 million). The increase in revenue by 23 % resulted primary from
significantly increased sales in America and Germany. The revenue related
gross profit increased slightly from 47 % in 2007 to 48 % in 2008. Revenues
from sales outside Germany decreased slightly from 81 % in 2007 to 77 % in
2008.

Total operating expenses for the full year 2008 were EUR 3.74 million
(2007: EUR 2.50 million). Human resource expenses grew mainly due to the
hiring of new personnel to EUR 2.09 million in 2008 from EUR 1.21 million
in 2007. As of December 31, 2008 Heliocentris had 41 employees (December 31
2007: 26 employees). The hiring taking place mostly in sales, R&D and the
project department constitute an important precondition for capturing
market opportunities and strengthening the positioning of Heliocentris.
Other operating expenses increased to EUR 1.65 million from EUR 1.29
million in 2007 resulting mainly from increased sales and marketing, R&D
and other operating expenses partly reflecting the increased personnel.
Also included are capital market as well as investor relations costs of EUR
0.24 million. The net loss for 2008 amounted to EUR 2.29 million, compared
to EUR 1.39 million in 2007.

On December 31, 2008, the company had EUR 2.54 million in cash. The number
of issued shares at December 31, 2008 was 2.25 million.

Dr. Henrik Colell, CEO of Heliocentris Fuel Cells AG, comments: ‘We are
pleased to have continued our growth story this year with a revenue
increase of 23 %. The successful implementation of our project business,
visible by the projects delivered as well as by the orders already acquired
for delivery in 2009, is an important milestone for our company. Based on
the positive start of our business in the new year we are - despite the
worldwide turbulences - confident to finish also the fiscal year 2009 with
growth.’

The complete Annual Report 2008 is due out on June 3, 2008 and can be
downloaded from our webpage www.heliocentris.com.

Please contact us for further information:

Heliocentris Fuel Cells AG
Dr. András Gosztonyi (CFO)
Tel.: +49-(0)30-6392-6185
E-Mail: investorrelations(at)heliocentris.com

About Heliocentris Fuel Cells AG
Heliocentris is a leading provider and system integrator of fuel cells.
Educational institutions, universities, research facilities and companies
in over 50 countries are among its more than 10,000 clients. These
customers already use over 50 items from among Heliocentris’ eight product
lines today. Worldwide, Heliocentris ranks as one of the market leaders in
the field of educational and R&D systems for fuel cells. The width of the
offering ranges from educational systems for instruction and studies to
integrated laboratory equipment for research and development as well as
industrial applications tailored to the client. Fuel cells are considered
to be a key technology for the supply of energy by means of renewable
energy sources. Fuel cells are environmentally friendly electrochemical
energy converters that transform chemical energy directly into electricity
and heat with a high level of efficiency. As a pioneer in its field,
Heliocentris possesses a wealth of long-time experience in the development,
production and marketing of this significant technology of the future. The
company is headquartered in Berlin, Germany. A subsidiary in Vancouver,
Canada, serves the American market. Further information can be found at
www.heliocentris.com

Disclaimer
This press release contains forward-looking statements that are based on
current assumptions and forecasts of the management of Heliocentris Fuel
Cells AG. Known and unknown risks, uncertainties and other factors could
lead to material differences between the forward-looking statements given
here and the actual development, in particular the results, financial
situation and performance of our Company. The Company assumes no liability
to update these forward-looking statements or to conform them to future
events or developments. The information in this press release does not
constitute an offer of securities for sale or a solicitation of an offer to
purchase securities in the United States or any other country.
25.05.2009 Financial News transmitted by DGAP

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Language: English
Issuer: Heliocentris Fuel Cells AG
Rudower Chaussee 29
12489 Berlin
Deutschland
Phone: +49-(0)30 63 92 63 25
Fax: +49-(0)30 63 92 63 29
E-mail: info@heliocentris.com
Internet: www.heliocentris.com
ISIN: DE000A0HMWH7
WKN: A0HMWH
Listed: Freiverkehr in Berlin, Stuttgart; Entry Standard in Frankfurt

End of News DGAP News-Service

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