DGAP-News: Heliocentris Fuel Cells AG: Heliocentris presents strong sales growth in 2009
(firmenpresse) - Heliocentris Fuel Cells AG / Final Results
25.05.2010 14:13
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Heliocentris presents strong sales growth in 2009
Corporate News
Berlin-based provider of energy storage solutions announces record sales
for 2009
Berlin, 25 May 2010 - Heliocentris Fuel Cells AG, a leading provider of
clean energy storage solutions, today announced its results, in accordance
with the German Commercial Code, for the fiscal year ending 31 December
2009.
2009 Financial and Operating Highlights
* Sales grew by 31% to EUR 3.4 million (2008: EUR 2.6 million) on the back
of strong global orders
* Gross profit expanded from EUR 1.3 million in 2008 to EUR 1.5 million in
2009 with the gross margin a strong 43% of total income
* Net income for the year amounted to EUR -2.8 million (2008: EUR -2.3
million) in line with the company's growth plans
* Acquisition of several major projects in the field of autonomous power
supply and power storage solutions, among others for an oil company in
Bahrain
* Signing of an OEM agreement with the Lucas-Nülle Gruppe GmbH, a leading
international provider of technical teaching systems, which opens up new
sales channels for Heliocentris, particularly in the area of major projects
for equipping complete laboratories
* Market launch of the new Heliocentris Nexa 1200 fuel cell system platform
as the basis for Heliocentris energy storage solutions in the field of
emergency power and autonomous energy supply solutions
* Delivery of an electrolyser as a hydrogen filling station for the fuel
cell bus of the city of Barth, as a follow-up contract to the fuel cell
hybrid solution for the bus already implemented successfully in 2008
* Capital increase with gross proceeds of EUR 4 million with Conduit
Ventures becoming a new shareholder. Conduit, as a specialised venture
capital fund, is a recognised expert in the field of energy storage
technologies, with shareholders including Shell, Mitsubishi and Solvay
Dr. Henrik Colell, CEO of Heliocentris AG, commented: 'With sales growth of
31% in a globally difficult economic environment, we showed once again that
we are a company capable of achieving strong growth on a sustainable basis.
With our successful acquisitions in the field of autonomous power supply
solutions, we also demonstrated our expertise in these applications, and
believe that we are well positioned in this interesting growth market.'
Consolidated sales for the 2009 financial year amounted to EUR 3.4 million
(2008: EUR 2.6 million). The company thus increased its growth rate from
23% in 2008 to 31%. This growth was driven by Germany and Asia,
particularly the Middle East, and results largely from the company's
successful entry into the market for project business.
Operating expenses for the financial year amounted to EUR 4.4 million
(2008: EUR 3.7 million). This increase is mainly due to a rise in personnel
expenses of EUR 0.5 million to EUR 2.6 million (2008: EUR 2.1 million),
mainly owing to the recruitment of new staff. As at 31 December 2009, the
company employed 50 permanent staff (2008: 41 staff). In particular,
employees were recruited in the areas of product development and the
projectdepartment. These new employees are therefore an important
prerequisite for the implementation of Heliocentris' growth strategy.
Heliocentris now has a top-class development team of 18 people and a team
of 6 project engineers, many of whom have had extensive experience at
leading companies in the solar and automotive sectors. At EUR 1.5 million,
other expenses remained at the previous year's level (2008: EUR 1.5
million), despite the increase in the number of employees. Other costs
include capital market costs and costs for investor relations and the
Annual General Meeting totalling EUR 0.4 million (2008: EUR 0.3 million).
The net loss for the financial year amounted to EUR -2.8 million (2008: EUR
-2.3 million), which was in line with the company's growth plans.
Given the strong sales growth in the first quarter of 2010 and in view of
the significantly higher order backlog compared to last year at the end of
the quarter, the management also anticipates dynamic growth in 2010. The
launch of industrial field testing with the new system platform Nexa 1200
in the second half of the year will be particularly important, as we will
then be able to offer our storage solutions for a wider range of customers.
This will as a result lay the foundations for further business in the field
of autonomous power supply solutions.
As at 31 December 2009, Heliocentris had EUR 3.9 million (2008: EUR 2.5
million) in cash and cash equivalents.
The publication of the audited annual financial statements is scheduled for
25 May 2010.
About Heliocentris Fuel Cells AG
Heliocentris Fuel Cells AG is a specialist for clean energy storage
solutions based on a smart combination of batteries, fuel cells and energy
management. Areas of application are mobile and stationary applications
that require longer ranges than current batteries can provide. Examples are
electric vehicles, onboard and emergency power supplies as well as
electricity supply for off-grid applications such as monitoring stations or
energy self-sufficient houses. Heliocentris has been developing and
marketing fuel cell-based energy solutions for more than 10 years now.
Heliocentris initially targeted the training and lab markets as typical
pioneer markets, where it has successfully positioned itself as one of the
worldwide market leaders. Since 2006, Heliocentris has been entering
selected industrial markets with considerable growth potential. With
customers in over 60 countries and a broad distribution and partner
network, Heliocentris is globally well positioned. Heliocentris Fuel Cells
AG is listed at the Frankfurter Wertpapierbörse (Entry Standard) and
employs in total 50 staff with its head office in Berlin and a subsidiary
in Vancouver, Canada. Further information is available 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.
Press contact:
Dr. András Gosztonyi
CFO / Managing Director
Heliocentris Fuel Cells AG
+49-(0)30-6392-6185
A.Gosztonyi(at)Heliocentris.com
Katja Rinkinen
Senior Consultant
College Hill GmbH
+49-(0)69-133896-12
Katja.Rinkinen(at)collegehill.de
25.05.2010 14:13 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
Language: English
Company: 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(at)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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Datum: 25.05.2010 - 14:13 Uhr
Sprache: Deutsch
News-ID 21400
Anzahl Zeichen: 0
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