SFC Energy AG — Earnings Release 2013

Oct 9, 2013

News Details

Ad-hoc | 9 October 2013 18:40

SFC Energy AG: revises sales and results forecasts

SFC Energy AG / Key word(s): Profit Warning

09.10.2013 18:40

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Brunnthal/München, October 9, 2013 - Following today's Executive Board
meeting, Management revises sales revenue and result forecasts for the
ongoing business year. Further project delays in Germany, the US and Russia
in the Defense & Security core market are expected to result in revenue and
margin decreases for the fuel cell segment. In addition, market penetration
speed in the Industrial business has been slower than expected. As a
result, the Company now expects total sales to the amount of EUR 32m to 36m
for 2013 (2012: 31.3m EUR) instead of previously forecasted EUR 38m to 43m
in the 2013 business year

Accordingly an improved EBITDA (underlying) compared to 2012 cannot be
reached anymore in 2013. Due to lower revenues, especially in the high
margin defense fuel cell business, an underlying EBITDA 2013 of approx.
minus EUR 2.5m to minus 3.0m is expected (2012: EUR 0.8m).

For 2014 the Company expects a significant rebound of its defense business
and an expansion of its industry sales according to plan especially in the
oil & gas industry in North America.

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Information and Explaination of the Issuer to this News:

Explanations:

Additional information on individual segment development:

Defense & Security:

The German defense business continues to experience project delays in the
context of the Bundeswehr reform. In addition, required technical rework
has slowed down project progress. As a result, defense projects originally
planned for this year cannot be realized in 2013 anymore.

US defense projects have very low chances of realization in 2013 in view of
the ongoing unsolved US federal budget situation.

The Company expects a significant rebound of the defense business in 2014.
From today's point of view it is unlikely that the same special effects in
Germany (restructuring of the German Army, federal elections) as well as in
the US (unsolved household situation) will occur again and simultaneously
in the upcoming year.

Industry:

The slower than expected development of the fuel cell industry business in
the first six months of 2013 continued in the traditionally weak third
quarter: Delays of fuel cell deliveries to the oil & gas industry resulted
from the switch from a Canadian oil and gas integrator to direct handling
by SFC/Simark

The integration of Simark Controls with an improved market access to the
North American oil & gas market will enable faster market penetration and
support the planned increase of sales revenue in this segment in 2014
significantly.

Consumer:

Sales development in the European fuel cell market for leisure, boat and
motor home applications are in accordance with expectations, however, the
weak economic environment has not improved after the fair season. The
Company continues to expect sales on last year's level.

SFC Investor Relations:
Barbara von Frankenberg
Leitung Investor Relations und Public Relations
SFC Energy AG
Eugen-Sänger-Ring 7
D-85649 Brunnthal
Tel. +49 89 673 592-378
Fax. +49 89 673 592-169
Email: barbara.frankenberg@sfc.com

09.10.2013 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language: English
Company: SFC Energy AG
Eugen-Saenger-Ring 7
85649 Brunnthal
Germany
Phone: +49 (89) 673 592 - 100
Fax: +49 (89) 673 592 - 169
E-mail: info@sfc.com
Internet: www.sfc.com
ISIN: DE0007568578
WKN: 756857
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, München, Stuttgart

End of Announcement DGAP News-Service

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