SFC Energy Reports Strong H1 2024 Financials and Net Cash Improvement

SFC Energy AG presents robust financial results for the first half of 2024, highlighting a solid net cash position of approximately EUR 66 million. Sales surged by 24.2%, reaching EUR 70,856 thousand, while adjusted EBITDA increased by 71.1% to EUR 12,526 thousand. The net cash climbed to EUR 65,621 thousand from EUR 56,056 thousand at the end of 2023.

The company’s international expansion is progressing. Production ramp-ups are on schedule in the UK, Germany, Romania, and India. The order backlog rose to EUR 89,024 thousand as of June 30, 2024. CEO Dr. Peter Podesser emphasized that the growing demand for SFC’s fuel cell technologies has resulted in the company’s largest single contract to date.

The Management Board expects continued growth for the remainder of 2024. Sales, adjusted EBITDA, and adjusted EBIT are projected to increase, driven by production capacity expansions and a stable market demand.