Heliocentris Energy Solutions AG announced group earnings results for the nine months ended September 30, 2015. The company reported in the period from January to September 2015, the sales of the group increased by around 4% or EUR 0.39 million compared to the same period of the previous year from EUR 10.91 million to EUR 11.30 million. Sales of 77% (EUR 8.67 million) related to the Industry segment while the Academia segment accounted for 23% (EUR 2.63 million). The share of sales generated abroad raised from 73% in the first nine months of 2014 to 92% in 2015, essentially on account of lower sales of fuel cell solutions for police base stations in Germany. Order intake, a key performance indicator for sales performance, increased by 24% to EUR 18.46 million in the first three quarters of 2015 (previous year: EUR 14.88 million). In the reporting period the positive profit contributions from total sales averaging 20% were not sufficient to cover the fixed cost of sales and to compensate the increased cost arising as a result of the acquisition of FutureE GmbH. Gross profit therefore deteriorated by EUR 1.18 million year on year to EUR -0.54 million. The loss for the period was also EUR 8.56 million worse than in the same period of the previous year at EUR 15.35 million. This was caused by the increased expenses of EUR 4.66 million arising from the acquisition of FutureE Fuel Cell Solutions GmbH and the establishment of a development centre for electrolysis in Italy, plus additional costs due to the move to the Prime Standard and the capital increase in May 2015 of around EUR 1.37 million. The change in current and deferred taxes and financing costs amounted to EUR 2.51 million. The transformation of the company's structures resulted in net other operating income and expenses of EUR 1.15 million. EUR 15.11 million of the total comprehensive loss is attributable to the shareholders of the parent company. This was offset by improvements in earnings from operating activities of EUR 1.28 million.

The company announced that owing to delays in order intake from Myanmar and the Middle East, the company expects to reach sales of EUR 23 million to EUR 25 million in 2015, an increase of around 27% compared to sales in 2014. In spite of the planned growth in sales in 2015, the Management Board is projecting a loss of EUR 16 million to EUR 17 million in the current financial year. This is mainly a result of the increased investments in the future technologies of fuel cells and electrolysis as well as the capital increase and the change to the Prime Standard of the German Stock Exchange. In regards of cash and cash equivalents the group expects to end the year 2015 in the range of EUR 4 million to EUR 5 million. This is mainly based on the significantly increased revenues and positive working capital effects in second half 2015.