McPhy strong revenue growth of +43% to €11.4 million in 2019

Nachrichtenquelle: globenewswire
28.01.2020, 17:45  |  1725   |   |   

Press release

McPhy: strong revenue growth of +43% to €11.4 million in 2019

  • Growth driven by excellent sales momentum over the year, with orders booked in France and Europe
  • Capital increase of almost €7 million in November 2019 enabling the Company to roll-out its international activities and pursue its development strategy
  • Confirmation of medium-term growth prospects with McPhy’s industrial scaling up

La Motte-Fanjas (France), January 28, 2020 – 5:45 pm CET – McPhy (Euronext Paris Compartment C: MCPHY, FR0011742329), a specialist in hydrogen production and distribution equipment, today announces its annual revenue for the year to December 31, 2019.

(€ millions) 2019 2018 Δ
First half 4.3 3.5 23%
Second half 7.1 4.5 58%
Total revenue 11.4 8.0 +43%

Laurent Carme, Chief Executive Officer of McPhy, states: “We ended 2019 on a very positive trend thanks to excellent sales activity throughout the year, initiated in the first half and confirmed during the second half which generated revenue growth of 58% compared with the same period in 2018. The taking and completion of orders in 2019 illustrate the relevance of our positioning on the industry, mobility and energy markets, as well as the technological maturity of our hydrogen production and distribution equipment.

The capital increase we carried out in November 2019 has given us the means to seize new opportunities within the context of an acceleration in the hydrogen market, and we would like to thank again all our investors for their trust.

The recognition of our know-how and our technology by major industrial groups and the zero-carbon hydrogen market’s positive outlook strengthen our confidence in our medium-term growth prospects. The signing, in January 2020, of an engineering contract to equip Europe’s largest zero-carbon hydrogen site (20 MW) substantiates this first step in McPhy’s industrial scaling up.

McPhy records strong growth in 2019

As announced, McPhy recorded a +43% increase in revenue in 2019 to €11.4 million, versus €8 million in 2018. This growth was driven by the taking and completion of a number of orders for electrolyzers and hydrogen production and distribution stations in France and abroad. 

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