Heliocentris’ sales increase by 35% in the first half of 2007
Berlin. Heliocentris Fuel Cells AG (WKN A0HMWH, ISIN DE000A0HMWH7), a pioneer in the production of fuel cell products on a production scale, can look back on a successful business performance in the first six months of 2007. Sales in the period under review rose by 35% to EUR 993 thousand, up from a pro forma figure of EUR 734 thousand in the same period in the previous year. Particularly in Asia and the Middle East, Heliocentris expanded its business significantly, with the export share of sales up year-on-year from 87% to 91% in the reviewed period. The international intensification of sales activities over the past months has therefore already had a positive impact on business performance in the first half of 2007. In addition, Heliocentris successfully introduced several new fuel cell products on the market in the first six months of 2007. The gross result in the first half of the year rose from 47.7% of gross revenue in the first six months of 2006 to 50.7%. This pleasing development is the result of a project launched back in 2006 to enhance efficiency, the exchange rate performance of the US dollar against the euro and the increased earnings due to R&D government grants.
As expected, the further expansion of the business led to a negative net result of EUR 587 thousand in the first half of 2007. A pro forma loss of EUR 206 thousand was recorded in the first six months of the previous year. This was also due to the planned development of the new Systems and Solutions business segment in which Heliocentris as system integrator cooperates with partners to develop fuel cell solutions for commercial usage. Furthermore, the result takes account of one-time expenditure connected with the capital increase of EUR 168 thousand completed in April 2007.
Heliocentris carried out important measures regarding the expected continued growth during the first half of 2007. This is also reflected in the number of employees, which rose to 22 by the end of June 2007 as well as in the partnerships with Hydrogenics and Parker Energy Systems. Heliocentris expects the positive business development to continue over the coming months and anticipates a growth in sales for the year as a whole.
The Half Yearly Report can be found on the Internet at www.heliocentris.com.
About Heliocentris Fuel Cells AG
As a pioneer in the fuel cell industry, Heliocentris has many years of experience in the series production of fuel cell products. Based on its focus on teaching and R&D systems for fuel cells, Heliocentris is one of the world's market leaders with more than 10,000 training facilities and companies in more than 50 countries as customers. These customers are offered more than 50 different products from eight product lines, the complexity of which extends up to full laboratory systems. Over the coming years, Heliocentris is planning to further expand its product range and its market presence. Its further growth will be driven by both new products for teaching and R&D and by fuel cell systems for industrial applications. In addition to the Company's head office in Berlin, Heliocentris has one subsidiary on the North American market in Vancouver, Canada.
Disclaimer
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