McPhy Energy Reports €13.2 Million Revenue for 2024 with Positive Growth in Electrolyzer Business
Key Ideas
- Revenue for 2024 was €13.2 million, impacted by termination compensation, but restated revenue amounted to €17.1 million.
- Electrolyzer revenue grew by 15% to €15.8 million, representing 92% of total restated revenue.
- Order intake doubled to €28.1 million in 2024, with significant contributions from large-scale projects and commercial agreements.
- McPhy Energy's cash position was €39.6 million as of December 31, 2024, with plans to ensure financial flexibility until mid-2025.
The financial results for McPhy Energy in 2024, approved by the Board of Directors, showed a revenue of €13.2 million, impacted by termination compensation related to some refueling station projects. Restated revenue reached €17.1 million, with electrolyzer revenue growing by 15% to €15.8 million. The order intake doubled to €28.1 million, driven by large-scale projects like the 'green metal' project with the Plansee Group and agreements with companies like AAK and ArcelorMittal. Despite challenges like the disposal of the refueling station business, the company maintained stable EBITDA at €(43.5) million and a cash position of €39.6 million. McPhy Energy is actively exploring solutions to ensure business continuity until mid-2025. The positive growth in electrolyzer revenue and order intake reflects the company's commitment to advancing in the green hydrogen sector.