Heliocentris presents annual financial statements for 2006 / Significant operating progress
Berlin. Heliocentris Fuel Cells AG (SCN A0HMWH), one of the leading companies in the development and marketing of fuel cell and hydrogen technology for training, research and demonstration purposes satisfied market expectations in financial year 2006. As previously stated in its securities prospectus, sales in the past year remained constant as against the previous year at €1.715 million in spite of the high levels of resources needed for increasing the workforce and for raising funds on the capital market (previous year: €1.703 million). The international share of sales amounted to around 81%. Among other things, the gross inflow of cash of €1.8 million generated by the placement in advance of the IPO in June 2006 was used for the considerable recruitment measures in research and development and in sales. In addition, marketing expenses were also increased. As result of these measures, earnings were down at €?0.48 million in line with planning after breaking even in the previous year. The further improvement in Heliocentris' market position can also be seen by the significant improvement in its gross profit margin on sales, which rose from 46% to currently 49%. The costs in connection with the IPO amounted to €0.21 million.
Heliocentris strengthened its operating business in the past year considerably. In addition to increasing its headcount from eleven to 20 employees, the Company concluded strategically significant partnerships with companies including Hydrogenics and Angstrom Power, which are of key importance for the orientation as a system integrator for the Systems & Solutions business area launched at the start of 2007. The initial impact of the growth steps that have been introduced is expected to be seen before the end of 2007.
The Annual 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
This disclosure contains statements of a forward-looking nature. These include forecasts of future events, trends, plans or goals. Such statements should not be understood as guaranteed as they are by their nature subject to known and unknown risks and imponderables and can be influenced by other factors, as a consequence of which the actual results, plans and goals of Heliocentris may materially deviate from the forward-looking statements made or implied. The factors that can cause such deviations include, for example, changes in the economic or business environment or changes in business strategy.
The Company does not undertake to update forward-looking statements that only reflect the status at the date of publication and rejects all liability therefor. Furthermore, this disclosure constitutes neither an offer for the sale of bearer a shares nor an invitation to submit an offer to purchase shares and is for information purposes only.