- Organic growth of around 30% per year to reach the EUR 400 million mark
- Adjusted EBITDA margin of over 15% already targeted before 2028
- Strong regional expansion into Asia and the USA accelerates organic growth
- Expansion of technological leadership: Proprietary membrane technology and HIGH Power product platform up to 200 kW
- M&A targets: Complementary technologies for hydrogen and fuel cells and possible acquisition of system integrators in growth markets
Brunnthal/Munich, Germany– SFC Energy AG („SFC“, F3C:DE, ISIN: DE0007568578), a leading provider of hydrogen and methanol fuel cells for stationary and mobile hybrid power supply solutions, today announces its mid-term targets up to 2028 at the German Equity Forum in Frankfurt. These also replace the previous mid-term planning up to 2025.
As part of the growth plan up to 2028, an increase in Group sales to EUR 400 to 500 million is planned. Furthermore, the Management Board reaffirms its goal of achieving a sustainable adjusted EBITDA margin of more than 15% prior to 2028.
The near quadrupling of sales by the year 2028 compared to the forecast for the current financial year is based on SFC’s three-pillar growth strategy: (1) further market penetration and regional expansion, (2) technological expansion & IP development, and (3) inorganic/acquisitive growth.
Over the past three years, SFC has grown organically at a CAGR of around 30% while simultaneously expanding its margins faster than originally expected. In contrast, the inorganic expansion strategy of 2021, which was intended to deliver an additional sales contribution of up to EUR 250 million by 2025, was deliberately adjusted to the changing market conditions. On the one hand, a globally adapted acceptance of hydrogen technologies aligned with the entire energy transition is emerging, and this process is taking longer than previously assumed. On the other hand, the planned expansion of business activities in Southeast Asia, as part of the ongoing cooperation with Toyota Tsusho, has been temporarily delayed due to the COVID pandemic.
In contrast, regional expansion in India and the USA is progressing significantly faster than expected and is proving successful. Non-European growth, in particular, is currently developing very dynamically and is set to accelerate further. In addition to the planned establishment of a dedicated presence to further develop the rapidly growing US market, India serves as a prime example of expansion in Asia. The expansion of capacity in India aligns with the “Make in India” initiative and will make an important contribution to the environmentally friendly orientation of the Indian economy.
Another focus of strategic mid-term planning is the continued expansion of technological leadership. This includes further penetrating existing market segments and exploration of new ones with more powerful fuel cells. The market launch of a modular hydrogen fuel cell solution with an output of up to 200 kW is planned for the end of 2024.
Central to this is also the integration and further development of proprietary membrane technology. In addition to securing a stable supply chain and increasing the proportion of value-added, SFC aims for long-term advantages in improved longevity and cost savings as a competitive edge.
Dr. Peter Podesser, CEO of SFC Energy AG: “Four key features define our fuel cells: self-sufficient, reliable, quiet, and without environmentally harmful emissions. They are therefore ideally suited to support the global shift away from fossil fuels. This megatrend will continue to gain momentum in the coming years, driven by the ambitious climate targets set by many countries. We, as SFC Energy AG, will also strongly benefit from this trend. Targeted acquisitions are also intended to contribute to the acceleration of our growth. The focus here is on complementary technologies to deepen the value chain, as seen in the acquisition of the proprietary membrane technology for our fuel cells. Acquiring system integrators in growth markets, particularly in the USA and Asia, is also a priority to expedite market access. We operate without time pressure and carefully assess potential acquisition targets. The increasing consolidation of the industry, in which SFC clearly stands out from its peer group with profitable growth, also presents numerous opportunities.”
About SFC Energy AG
SFC Energy AG (www.sfc.com) is a leading provider of hydrogen and direct methanol fuel cells for stationary and mobile hybrid power solutions. With the Clean Energy and Clean Power Management business segments, SFC Energy is a sustainably profitable fuel cell producer. The company distributes its award-winning products worldwide and has sold more than 65,000 fuel cells to date. The company is headquartered in Brunnthal/Munich, Germany, operates production facilities in the Netherlands, Romania, India and Canada. SFC Energy AG is listed on the Deutsche Boerse Prime Standard and has been part of the selection index SDAX since 2022 (GSIN: 756857, ISIN: DE0007568578).
Read the most up to date Fuel Cell and Hydrogen Industry news at FuelCellsWorks
