DGAP-News: SFC Energy AG / Key word(s): Preliminary Results/Forecast 
SFC Energy AG publishes preliminary consolidated figures, guidance 2021 and new strategic medium-term planning 2025 - 
Strong fourth quarter leads to solid business development 
2021-02-15 / 07:28 
The issuer is solely responsible for the content of this announcement. 
=---------------------------------------------------------------------------------------------------------------------- 
SFC Energy AG - Corporate News 
SFC Energy AG publishes preliminary consolidated figures, guidance 2021 and new strategic medium-term planning 2025 - 
Strong fourth quarter leads to solid business development despite COVID-19 / Accelerated growth plan foresees 
above-average sales growth to between EUR350 and EUR400 million by 2025 
- Preliminary 2020 consolidated sales of EUR53.2 million (2019: EUR58.5 million, -9.1%) in line with expectations - strong 
fourth quarter of EUR14.0 million vs. EUR14.8 million prior year period despite COVID-19 
- Preliminary 2020 underlying EBITDA at EUR2.9 million (2019: EUR3.6 million) at the upper end of expectations 
- Clean Energy & Mobility segment with strong revenue growth of 61.6% due to accelerated growth in civil fuel cell 
business 
- COVID-19 impact on sales in the Oil & Gas (-19.6%), Industry (-21.2%), and Defense & Security (-60.6%) segments 
- Guidance for 2021: Consolidated sales between EUR61 and EUR70 million, underlying EBITDA between EUR3.5 to 6 million and 
underlying EBIT between EUR-0.9 to 1.6 million 
- Strategic medium-term planning until 2025: Significant organic and inorganic sales growth of up to EUR350 to 400 
million, above-average growth stimulus from hydrogen fuel cell business as replacement of conventional (diesel) 
generators 
Brunnthal/Munich, Germany, February 15, 2021 - SFC Energy AG (F3C:DE, ISIN: DE0007568578), a leading provider of 
hydrogen and methanol fuel cells for stationary and mobile hybrid power solutions, today announces its preliminary 
financial results for 2020, the guidance for the current financial year 2021 and a strategic medium-term planning for 
2025. 
Management Board Report 
Dr. Peter Podesser, CEO of SFC Energy AG: "With the expected significant upturn in business in the fourth quarter and 
continued high demand in the Clean Energy & Mobility segment, we overall succeeded with a solid business performance in 
the highly challenging financial year 2020, which was impacted by the COVID-19 pandemic. Positive impulse was provided 
by a regionally broad, unprecedented momentum in demand for methanol and hydrogen fuel cells for civil applications. 
The call-off order from our partner adKor for EFOY Jupiter hydrogen fuel cells as back-up power source for the digital 
public radio network ( BOSNet) is representative of this. 
At the same time, we succeeded in taking further steps to expand the hydrogen and methanol fuel cell business 
internationally. In this context, our cooperation and exclusive distribution agreement for hydrogen and methanol fuel 
cells with Toyota Tsusho in the Japanese market is exemplary. It is the clearly formulated intention of both partners 
to intensify the cooperation quickly and sustainably and to further bundle competencies. Currently, both partners are 
in advanced negotiations to expand their sales activities to other country markets in Asia. 
Together with VINCORION, the mechatronics manufacturer of the technology group JENOPTIK, we are developing the 
sustainable and portable energy management system P2M2. Also, our collaboration with the electric boat engine 
manufacturer ePropulsion demonstrates the versatility of our EFOY fuel cell series for the end consumer sector. In 
September 2020, we presented the new and fifth generation of the EFOY fuel cell and the corresponding EFOY lithium 
battery at the Caravan Salon Düsseldorf. Recently, this EFOY Hybrid Power package was awarded the European Innovation 
Award. 
Hydrogen and fuel cell technology are key technologies for the successful completion of the energy transition. By 
replacing conventional (diesel) generators in stationary and off-grid energy supply, we are already supporting numerous 
user industries in their activities towards a more sustainable energy supply and are thus paving the way for a 
low-carbon society." 
Sales and earnings development 
After preliminary consolidation, the Group generated consolidated sales of EUR53.2 million in the 2020 financial year 
(2019: EUR58.5 million). With a decline in consolidated sales of around 9.1%, the development in the challenging COVID-19 
environment was in line with expectations. According to preliminary figures, the fourth quarter of 2020 was only 5.0% 
below the previous year's level (2019: EUR14.8 million) with consolidated revenue of EUR14.0 million, despite COVID-19, and 
again showed significant growth across all segments compared to the second and third quarters of 2020. 
According to preliminary calculations, underlying EBITDA amounted to EUR2.9 million in the reporting year (2019: EUR3.6 
million) and thus at the upper end of management's expectations. The preliminary underlying EBIT amounted to minus 
kEUR579 in 2020 compared to kEUR284 in the previous year. 
Segment development 
The segments of SFC Energy AG showed a heterogeneous development over the course of the year. 
The Clean Energy & Mobility segment proved to be extremely robust, pandemic-resilient and was characterized by dynamic 
growth (+61.6%) in the reporting year. The first weeks of the 2021 business year have also shown continuous strong 
demand, both internationally and across the various fields of application. 
By contrast, the effects of the COVID-19 pandemic had a significant negative impact on sales in the Oil & Gas (-19.6%), 
Industry (-21.2%) and Defense & Security (-60.6%) segments. Shutdown measures and especially the hard lockdowns in 
various regions had the strongest impact on contract awards in the international defence business. 
According to preliminary calculations, the Clean Energy & Mobility segment generated strong year-on-year growth of 
+61.6% (2020: EUR19.0 million / 2019: EUR11.8 million) with a stable gross margin. This positive development was driven by 
a high demand for fuel cells, particularly for industrial, stationary applications in Europe, North America and Asia. 
According to preliminary figures, sales in the Oil & Gas segment in the reporting year were 19.6% below the previous 
year (2020: EUR17.7 million / 2019: EUR22.0 million) due to the demand situation, which was strongly influenced by the 
COVID-19 pandemic. For the financial year 2021, there are already signs of an increasing revival of business for 
customers in the oil and gas industry. In the current financial year, the strategic focus will be on further expanding 
business outside the oil and gas industry in Canada and the USA in order to further reduce dependence on the Canadian 
oil and gas business in the long term. 
In the Industry segment, reduced call-off orders and postponements of investment decisions on the part of customers in 
the wake of the COVID-19 pandemic led to a decline in sales development. In particular, the pandemic containment 
measures, such as travel and assembly restrictions, hampered both sales activities and on-site installations of 
applications at customers' premises. According to preliminary calculations, sales in the reporting year 2020 declined 
by 21.2% to EUR13.6 million after EUR17.2 million in the previous year. However, the already anticipated recovery showed a 
strong upturn in the fourth quarter of the 2020 financial year. Customers have now adapted to the environmental 
conditions of the COVID-19 pandemic. SFC Energy AG expects significant growth in the Industry segment from the first 
quarter of 2021. 
Business in the Defence & Security segment was significantly burdened as a result of the COVID-19 pandemic due to 
particularly restrictive lockdown measures in the international core markets such as Israel and India, as well as the 
partial standstill or considerable delays in the awarding of contracts by government procurement agencies. According to 
preliminary calculations, this led to a considerable decline in sales of 60.6% to EUR3.0 million in the reporting year 
2020, compared to EUR7.6 million in the previous year. 
The easing of lockdown measures in key markets is facilitating sales activities and increasing customers' tendency to 
invest locally. In Europe, customer activity is already high in this early phase of the current financial year 2021. 
Overall, this results in positive growth expectations based on a broad international customer base. 
Forecast 2021 
Dr. Peter Podesser, CEO of SFC Energy AG: "Even though 2020 was a crisis year from an economic point of view and Corona 
is still rampant, we are satisfied with the overall business development. With 'Fit for the Future', we rolled out a 
comprehensive programme of measures last year, which now creates the basis to be able to act even stronger and more 
efficiently after the COVID-19 pandemic. The environment for our technology has never been as positive as it is today. 
We intend to extend our lead in product maturity and market access and will accelerate key future topics such as the 
development of the new generation of hydrogen fuel cells and evaluate complementary technologies such as electrolysis 
for on-site production of 'green hydrogen'." 
For the current financial year 2021, the Management Board expects organic growth and consolidated sales between EUR61 and 
EUR70 million. In this context, an increase in profitability with an underlying EBITDA between EUR3.5 million to EUR6 million 
and an underlying EBIT between EUR-0.9 million to EUR1.6 million is targeted. 
Strategic medium-term planning 2025 
According to a study by the consulting firm Roland Berger, European companies are forecasted to generate sales of up to 
EUR65 bn in Europe and another EUR65 bn in the global markets for hydrogen and fuel cells in 2030.^[1] In view of these

(MORE TO FOLLOW) Dow Jones Newswires

February 15, 2021 01:30 ET (06:30 GMT)