Q1
2 0 2 1
QUARTERLY RELEASE
January 1 to March 31, 2021
CON T EN T
SFC ENERGY AG - AT A GLANCE | 3 | |||||||||||||||||||||||
INTERIM REPORT ON THE BUSINESS DEVELOPMENT AS OF MARCH 31, 2021 | 4 | |||||||||||||||||||||||
BUSINESS DEVELOPMENT AND SITUATION | 5 | |||||||||||||||||||||||
SFC Group | 5 | |||||||||||||||||||||||
Segments | 10 | |||||||||||||||||||||||
ASSETS AND FINANCIAL POSITION | 12 | |||||||||||||||||||||||
GUIDANCE | 14 | |||||||||||||||||||||||
SUPPLEMENTAL FINANCIAL INFORMATION | 15 | |||||||||||||||||||||||
Consolidated Income Statement | 15 | |||||||||||||||||||||||
Consolidated Statement of Comprehensive Income | 16 | |||||||||||||||||||||||
Consolidated Balance Sheet | 17 | |||||||||||||||||||||||
Consolidated Cash Flow Statement | 19 | |||||||||||||||||||||||
Segmentation | 21 | |||||||||||||||||||||||
SUBSEQUENT EVENTS | 22 | |||||||||||||||||||||||
FINANCIAL CALENDAR 2021/SHARE INFORMATION/INVESTOR-RELATIONS/IMPRINT | 23 | |||||||||||||||||||||||
SFC ENERGY AG - AT A GL ANCE
CONSOLIDATED KEY FIGURES | in EURk | |||||||||||||||||||
01/01- 03/31/2021 | 01/01- 03/31/2020 | Change in % | ||||||||||||||||||
Sales | 16,984 | 16,119 | 5.4 % | |||||||||||||||||
Gross profit | 6,203 | 5,245 | 18.3 % | |||||||||||||||||
Gross margin | 36.5 % | 32.5 % | - | |||||||||||||||||
EBITDA | - 2,458 | 375 | n.a. | |||||||||||||||||
EBITDA margin | - 14.5 % | 2.3 % | n.a. | |||||||||||||||||
EBITDA adjusted | 2,346 | 820 | 185.9 % | |||||||||||||||||
EBITDA margin adjusted | 13.8 % | 5.1 % | n.a. | |||||||||||||||||
EBIT | - 3,378 | - 432 | n.a. | |||||||||||||||||
EBIT margin | - 19.9 % | - 2.7 % | n.a. | |||||||||||||||||
EBIT adjusted | 1,425 | 13 | n.a. | |||||||||||||||||
EBIT margin adjusted | 8.4 % | 0.1 % | n.a. | |||||||||||||||||
Consolidated net result of period | - 3,635 | - 630 | n.a. | |||||||||||||||||
Net result per share, not diluted | - 0.25 | - 0.05 | n.a. | |||||||||||||||||
Net result per share, diluted | - 0.25 | - 0.05 | n.a. | |||||||||||||||||
SALES BY QUARTER | in EURk | |||||||||||||||||||
Q1 | 16,984 | 2021 | ||||||||||||||||||
16,119 | 2020 | |||||||||||||||||||
Q2 | 11,591 | |||||||||||||||||||
Q3 | 11,503 | |||||||||||||||||||
Q4 | 14,010 | |||||||||||||||||||
Q1-Q4 | 53,223 | |||||||||||||||||||
SALES BY REGION | in EURk | SALES BY SEGMENT | in EURk | |||||||||||||||||
01/01-03/31/2021 | 01/01-03/31/2021 | |||||||||||||||||||
Asia | Rest of the world | |||||||||||||||||||
319 | 3 | |||||||||||||||||||
Germany | Clean Power | Clean Energy | ||||||||||||||||||
2,292 | ||||||||||||||||||||
10,071 | ||||||||||||||||||||
North America | Management | |||||||||||||||||||
6,124 | 6,913 |
Europe
(not including Germany)
8,245
INTERIM REPORT ON BUSINESS DEVELOPMENT AS OF MARCH 31, 2021
Brunnthal, May 18, 2021
SFC Energy AG (ISIN: DE0007568578), a leading supplier of fuel cell solutions for stationary and mobile applications based on hydrogen and direct methanol fuel cell (DMFC) technology, is publishing its Q1/2021 quarterly release for the period from January 1, 2021, to March 31, 2021, today, including explanations on its business performance and significant events.
SFC Energy AG (SFC AG) together with its subsidiaries forms an internationally active Group of companies in the fuel cell sector (SFC or the Goup). Besides the parent company SFC Energy AG (Germany), the Group comprises the subsidiaries SFC Energy B.V. (The Netherlands) and SFC Energy Ltd. (Canada).
The Group is active in various fields that are subdivided into segments and business units.
The segmentation of the Group's activities primarily follows the Group's internal reporting structure and management by business segments. These are based on the Group's technology platforms as well as the portfolio of products and services offered. The allocation of resources and the assessment of the business development of the segments are performed by the Group's management as the chief operating decision maker.
The figures presented in this quarterly release have been rounded in accordance with standard commercial practice. This can result in certain figures not adding up to the total amounts shown.
The financial figures for the first three months of 2021 and 2020 are unaudited and have not been reviewed by an auditor.
4 | SFC ENERGY QUARTERLY RELEASE |
BUSINESS DEVELOPMENT AND SITUATION
The Group
Compared to the same period of the previous year, the Group (SFC or the Group) managed to increase its sales by EUR 865k or 5.4 % to EUR 16,984k (previous year: EUR 16,119k) in the first three months of fiscal year 2021 (the reporting period). This positive development was due to growth in sales in both segments, Clean Energy and Clean Power Management.
Exchange rate effects had a negative impact of EUR 179k or 1.1 % on the Group's sales in the reporting period compared to the same period of the previous year.
In the reporting period, both the positive development of Group sales and the increase in the gross profit margin led to an increase in gross profit of EUR 958k or 18.3 % to EUR 6,203k (previous year: EUR 5,245k). The resulting gross profit margin of the Group (gross profit as a percentage of sales) improved to 36.5 % (previous year: 32.5 %).
SALES AND GROSS PROFITin EURk
Sales | 16,984 | ||||
16,119 | |||||
Gross profit | 6,203 | ||||
5,245 | |||||
01/01- 03/31/2021 | |||||
01/01- 03/31/2020 | |||||
The increase in provisions or the capital reserve for obligations arising from long-term variable compensation programs in the form of Stock Appreciation Rights (SARs) and Stock Option Programs for the Management Board ("LTI programs") impacted the operating result for the reporting period. This non-recurring effect totaling EUR 4,804k (previous year: EUR 282k) for the reporting period is included in EBIT and EBITDA as an expense. In this context, the expenses for the LTI programs were allocated to both sales costs and general administration costs.
There were no non-recurring effects from transaction-related expenses in the reporting period (previous year: EUR 163k).
NON-RECURRING EFFECTS
Expenses for the LTI programs
Expenses for acquisition efforts
Total
thereof included in sales costs
thereof included in general administration costs
in EURk | ||||
01/01- 03/31/2021 | 01/01- 03/31/2020 | Change in % | ||
4,804 | 283 | n.a. | ||
0 | 163 | - 100.0 % | ||
4,804 | 446 | n.a. | ||
2,673 | 204 | n.a. | ||
2,131 | 242 | n.a. | ||
SFC ENERGY QUARTERLY RELEASE | 5 |
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SFC Energy AG published this content on 18 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 May 2021 07:28:02 UTC.