BRUNNTHAL (dpa-AFX) - Fuel cell supplier SFC Energy has grown strongly at the start of the new year. Thanks mainly to particularly good business in North America, first quarter sales rose by 53.3 percent to 27.45 million euros, the company, listed in the small-cap index SDax, announced in Brunnthal near Munich on Tuesday. SFC Energy spoke of the best first quarter in the company's history and confirmed its forecast for the full year. The company is thus still targeting sales growth to between €103 million and €111 million.

At €34.8 million, incoming orders were lower than in the same period last year, when they amounted to €44.3 million. SFC Energy is now sitting on an order backlog of €81.6 million. Adjusted earnings before interest, taxes, depreciation and amortization (adjusted Ebitda) increased from 0.8 to 3.35 million euros. SFC Energy became significantly more profitable at the beginning of the year, the adjusted Ebitda margin climbed from 4.5 to 12.2 percent. Below the line, the SDax company earned 2 million euros after a loss of 1.2 million euros a year ago./niw/tih