SFC Energy : Quarterly release Q1/2022

QUARTERLY RELEASE

January 1 to March 31, 2022

TABLE OF CONTENTS

SFC ENERGY AG - AT A GLANCE		3
INTERIM REPORT ON BUSINESS DEVELOPMENT AS OF MARCH 31, 2022		4
BUSINESS DEVELOPMENT AND ECONOMIC SITUATION		5
EARNINGS POSITION		5
ASSET AND FINANCIAL POSITION		12
FORECAST		17
ADDITIONAL FINANCIAL INFORMATION		18
CONSOLIDATED STATEMENT OF INCOME		18
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME		19
CONSOLIDATED STATEMENT OF FINANCIAL POSITION		20
CONSOLIDATED STATEMENT OF CASH FLOWS		22
GROUP SEGMENT REPORTING		24
SUPPLEMENTARY REPORT		25
2022 FINANCIAL CALENDAR		26

The figures presented in this quarterly release have been rounded in accordance with standard commercial practice. This may mean that individual values do not add up to the totals shown.

The financial figures for the first three months of 2022 and 2021 are unaudited and not subject to an auditor's review.

SFC ENERGY AG - AT A GLANCE

SFC ENERGY AG - AT A GLANCE

	01/01-03/31/2022
Sales	17,905
Gross profit	5,608
Gross margin	31.3%
EBITDA	161
EBITDA margin	0.9%
adjusted EBITDA	809
adjusted EBITDA margin	4.5%
EBIT	-1,066
EBIT margin	-6.0%
adjusted EBIT	-418
adjusted EBIT margin	-2.3%
Consolidated net result for the period	-1,178
Earnings per share, undiluted	-0.08
Earnings per share, diluted	-0.08

01/01-03/31/2021

16,984

6,203

36.5%

- 2,458

-14.5%

2,346

13.8%

- 3,378

- 19.9%

1,425

8.4%

-3,635

- 0.25

- 0.25

in EURk

Change in %

5.4%

-9.6%

n/m

-65.5%

n/m

n/m

n/m

n/m

SALES BY QUARTER
Q1		17,905
16,984
Q2	14,148
Q3	15,344
Q4	17,844
FY

in EURk

FY 2022

FY 2021

64,320

SALES BY REGION	in EURk SALES BY SEGMENT	in EURk
01/01-03/31/2022		01/01-03/31/2022
North America	Europe	Clean Energy
7,478	12,279
(excluding Germany)
	7,125

Rest der Welt
41		Clean Power
	Germany	Management
Asia	5,627
1,979
1,283

SFC ENERGY QUARTERLY RELEASE Q1/2022

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INTERIM REPORT ON BUSINESS DEVELOPMENT AS OF MARCH 31, 2022

Brunnthal, May 17, 2022

Die SFC Energy AG (ISIN: DE0007568578), a leading provider of fuel cell solutions for stationary and mobile applications based on hydrogen as well as direct methanol (DMFC) technology, announced its business performance and key events today as part of the publication of its Q1 / 2022 quarterly release for the period from January 1, 2022, to March 31, 2022.

SFC Energy AG ("SFC AG") together with its subsidiaries forms an internationally active Group of companies ("SFC" or "Group") in the fuel cell sector. In addition to the parent company SFC Energy AG (Germany), the consolidated Group includes the subsidiaries SFC Energy B.V. (Netherlands) ("SFC B.V.), its subsidiary SFC Energy Power SRL (Romania) and SFC Energy Ltd. (Canada) ("SFC Ltd."). The Group operates in various business fields, which are subdivided into segments and business units.

The segmentation of the Group's activities primarily follows the Group's internal organizational and reporting structure by business units. These are based on the Group's technology platforms and product and service portfolio. The Clean Energy segment comprises the portfolio of products, systems and solutions for stationary and mobile off-grid power supply based on hydrogen (PEMFC) and direct methanol (DMFC) fuel cells for applications in the industrial, private (consumer) and government (public safety) sectors for various markets, such as the telecommunication equipment, security and surveillance technology, remote sensing technology, defense technology, but also the caravanning and marine market. The Clean Power Management segment bundles the entire business with high-tech, standardized and semi-standardized power management solutions such as voltage transformers and coils, which are used in equipment for the high-tech industry. The segment also includes the business with frequency converters for the upstream oil and gas in- dustry, some of which are integrated and some of which are sold.

4	SFC ENERGY QUARTERLY RELEASE Q1/2022

BUSINESS DEVELOPMENT AND ECONOMIC SITUATION

BUSINESS DEVELOPMENT AND ECONOMIC SITUATION

EARNINGS POSITION

Compared to the same period of the previous year ("previous year"), the Group achieved an increase in revenue of EUR 921k or 5.4% to EUR 17,905k (previous year: EUR 16,984k) in the first three months of fiscal year 2022 ("reporting period"). This positive development in revenue is due to the growth of the Clean Energy segment, which realized a year-on-year increase in revenue of 21.9% compared to the previous year.

In the reporting period, despite the positive development of the Group's revenue, increased material, logistics and transport costs in particular had the opposite effect on gross profit. This decreased by EUR 595k or 9.6% and amounted to EUR 5,608k (previous year: EUR 6,203k). The resulting gross profit margin of the Group (gross profit as a percentage of turnover) decreased noticeably to 31.3% (previous year: 36.5%).

Sales and gross profit

Revenue

Gross profit

5,608

6,203

in EURk

17,905

16,984

01/01-03/31/2022

­

01/01-03/31/2021

Sales development by segment

The revenue segmentation for the reporting period compared to the previous year is as follows:

Sales by segment									in EURk
	Segment	01/01-03/31/2022	01/01-03/31/2021			Change in %
	Clean Energy	12,279	10,071	21.9%
	Clean Power Management	5,627	6,913	-18.6%
	Total	17,905	16,984	5.4%

SFC ENERGY QUARTERLY RELEASE Q1/2022

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