Activity for the first half of 2020

a strong commercial dynamic despite the Covid-19 crisis, combined with a net increase in cash flow

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• Signature of contracts representing the change in scale of McPhy’s commercial and industrial activity, such as Djewels and Zero Emission Valley projects
• Despite the crisis linked to the Covid-19 pandemic, revenue increased by 24% compared to the first half of 2019, rising to €5.4 million in the first half of 2020, without jeopardizing the medium-term growth outlook
• Significant increase in cash, from €13 million to €24 million between 31 December 2019 and 30 June (+85%), mainly related to the strengthening of capital.

La Motte-Fanjas, July 28, 2020 – 5.45 pm CEST - McPhy (Euronext Paris Compartiment C: MCPHY, FR0011742329), specialized in hydrogen production and distribution equipment, today announced its results for the first half of 2020.

Laurent Carme, Chief Executive Officer of McPhy, stated: “The beginning of 2020 was marked by a succession of commercial successes, demonstrating the industrialization of the hydrogen sector, both in France and abroad. McPhy, which was selected to equip projects such as Zero Emission Valley in the sector of mobility in France or Djewels in the sector of industry in the Netherlands, has consolidated its position as a major technological and industrial partner in the hydrogen market. Whatever the sector of activity, the McPhy teams have been able to support our clients in their transition to zero-carbon hydrogen, despite the impact of the Covid-19 pandemic.”   

Simplified income statement

(€ millions)	S1 2020	S1 2019	2019
Revenues	5,4	4,3	11,4
Other operating income	0,3	0,4	4,1
Income from ordinary activities	5,7	4,7	15,5
Purchases consumed	(2,9)	(1,8)	(6,1)
Personnel costs	(4,1)	(3,5)	(7,1)
Other operating expenses	(2,2)	(3,0)	(6,1)
Depreciation, amortization and provisions	(0,6)	(0,4)	(2,6)
Recurring operating result	(4,1)	(4,1)	(6,5)
Other operating income and expenses	0,0	(0,0)	(0,0)
Operating result	(4,1)	(4,1)	(6,5)
Financial result	(0,1)	(0,1)	0,4
Income tax	(0,0)	(0,0)	(0,0)
Net income	(4,3)	(4,2)	(6,3)

Limited review of half-year consolidated accounts approved by the Board on July 28, 2020