BRUNNTHAL (dpa-AFX) - Due to continued high demand, fuel cell supplier SFC Energy has again raised its forecast for the current year. In view of the expected deliveries and the current order backlog for the fourth quarter, the Group expects sales of 115 to 117 million euros for 2023, according to a statement on Wednesday. Previously, the management of the company, which is listed in the second-tier stock index SDax, had forecast 107 to 111 million euros. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) are expected to reach EUR 13 to 14.1 million. Previously, the lower end of the range was significantly lower at 10.5 million.

In the third quarter, turnover climbed by 21% to 31 million euros. Of this, a good 4.6 million euros remained as earnings before interest, taxes, depreciation and amortization adjusted for special effects, which is 8.4 percent more than in the previous year. However, the corresponding margin (EBITDA margin) fell from 16.6% to 14.9%. Net profit fell by around 35% to EUR 3.2 million, partly due to higher depreciation and amortization./knd/mis