Heliocentris reports 33 % revenue growth with Q3 results in 2009
Corporate News
Berlin – November 30, 2009. Heliocentris Fuel Cells AG, a specialist in clean energy storage solutions, is pleased to announce its preliminary numbers for the nine months ending September 2009. Revenues for the period were up 33% year on year to EUR 2.27 million despite a difficult market environment.
Dr. Andras Gosztonyi, CFO, commented: “We are pleased that our expansion strategy translates into considerable revenue growth even in a very turbulent market. It shows the strategy to be aggressive but also well balanced.”
Group sales totaled EUR 2.27 million (Q1-Q3 2008: EUR 1.71 million) until the end of September. Net loss totaled EUR -2.05 million (Q1-Q3 2008: EUR -1.74 million).
At the end of the quarter, the company’s liquid funds totaled EUR 4.45 million. The figures are in accordance with German Accounting Standards (HGB) and are unaudited.
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