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    McPhy Energy: stable First-Half Revenue and strong acceleration in order intake


    July 29, 2022 - Contify Energy News

     

      McPhy, specialized in low-carbon hydrogen production and distribution equipment (electrolyzers and refueling stations), today announced its preliminary results for the first half of fiscal year 2022, as of June 30, closed today by the Company’s Board of Directors prior to the publication of the Half Year Financial Report (“HYR”) in September.

      Original Press Release:

      Grenoble, France, July 28 -- McPhy Energy issued the following news release:

      - Revenue of €5.2m impacted by after commercial repurchase of two old generation refueling stations

      - 2.2 M€ (+ 42%) increase in sales excluding commercial recovery 44% increase in backlog over the first half of the year

      - €8.9 million (+ 44%) increase in the order book for the first half of the year

      - Deterioration of the margin on business due to the increase in R&D expenses

      - Progressive operational start of large-scale hydrogen projects

      - Commissioning of the new station production site in Grenoble

      - Validation by the European Commission of the Gigafactory project for IPCEI funding [2]

      - Continued dynamic activity and growth investments expected in the second half of the year

      McPhy, specialized in low-carbon hydrogen production and distribution equipment (electrolyzers and refueling stations), today announced its preliminary results for the first half of fiscal year 2022, as of June 30, closed today by the Company’s Board of Directors prior to the publication of the Half Year Financial Report (“HYR”) in September.

      Disclaimer: The table has been omitted (The document can be viewed at: https://cellar-c2.services.clever-cloud.com/com-mcphy/uploads/2022/07/07.26.22.McPhy_Resultats-S1-2022-EN-1.pdf)

      Jean-Baptiste Lucas, CEO of McPhy, stated: “To respond to the gradual acceleration of the market, McPhy has just completed its industrial facilities with the opening of a new site in Grenoble dedicated to the production of our hydrogen filling stations. At the same time, McPhy is pursuing its strategy to develop its pressurized alkaline electrolysis technology with an investment in capacity at its San Miniato plant, complemented by the recruitment of engineering and R&D teams in Wildau. These investments mark the Group's change of scale and increase its production capacity to meet the demand of the European market. Finally, also in the electrolyzers area, the validation of the Gigafactory project by the European Commission within the framework of the PIIEC scheme confirms the potential of low-carbon hydrogen, and is a key step in the Group's decision-making process. On the operational side, McPhy has started to benefit this semester from the implementation of the large-scale hydrogen projects in which it is engaged. Intrinsic performance was affected by the take back of two stations already ordered due to non-standard technical and commercial requirements for both the two customers concerned and for McPhy. This adjustment neutralizes the dynamism observed in the good progress of the last few months in the first half of the year.”

      About McPhy Energy

      Specialized in hydrogen production and distribution equipment, McPhy is contributing to the global deployment of low-carbon hydrogen as a solution for energy transition. With its complete range of products dedicated to the industrial, mobility and energy sectors, McPhy offers its customers turnkey solutions adapted to their applications in industrial raw material supply, recharging of fuel cell electric vehicles or storage and recovery of electricity surplus based on renewable sources. As designer, manufacturer and integrator of hydrogen equipment since 2008, McPhy has three development, engineering and production centers in Europe (France, Italy, Germany). Its international subsidiaries provide broad commercial coverage for its innovative hydrogen solutions. McPhy is listed on Euronext Paris (compartment B, ISIN code: FR0011742329, MCPHY).

      Disclaimer: The full PDF release can be found at: (https://cellar-c2.services.clever-cloud.com/com-mcphy/uploads/2022/07/07.26.22.McPhy_Resultats-S1-2022-EN-1.pdf)

      Source: McPhy Energy

      [Category: Energy, ESG, Financial Results]

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