Heliocentris Energy Solutions AG announced unaudited earnings results for the fourth quarter and full year 2015. Sales in the fourth quarter of 2015 amounted to EUR 10.8 million as compared to EUR 8 million in the same quarter of the previous year.

For the full year, the company generated sales of EUR 22.1 million. Despite this increase in sales, the EBITDA will amount to EUR - 11.48 million. This is due chiefly to two factors. Firstly, the increased cost base in 2015 as a result of significant non-recurring costs relating to the capital increase and the segment change in May 2015, as well as additional fixed costs from investments in electrolysis technology. Secondly, a fall in gross profits due to low sales volumes combined with low gross margins, since the majority of sales were generated in the project business and not in the high-margin business with energy management systems, maintenance and operating agreements and fuel-cell-based solutions.

For 2016, the company expects increase in sales to between EUR 27 million and EUR 33 million and significant improvement in earnings against 2015.