DGAP-Adhoc: SFC Smart Fuel Cell AG: Change of growth and earnings guidance for the 2008 business year
09.06.2008
SFC Smart Fuel Cell AG / Forecast
09.06.2008
Release of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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- Slower growth in the leisure market continues
- Potential delays in defense programs
- Raw material cost burden margins
Brunnthal, Germany, June 9, 2008 - As reported in the first quarter report,
the slow down in sales to end users and the related high inventory at the
distributers has decelerated sales growth in the leisure market. In the
defense sector, budget decisions and orders to be awarded to SFC expected
for Q2/08 have been delayed, therefore planned revenue recognition in 2008
may potentially be at risk.
Even though the European accessory market for motor homes has seen a strong
decline in turnover, SFC continues to grow. Due to the developments
mentioned, however, SFC Management expects a reduced 2008 sales growth of
20 to 30 percent compared to 2007 (14.4 m EUR). Against this background,
break-even will not be achievable this year, also with regard to the risk
of further increasing raw material cost.
Counter actions in the leisure markets have already been initiated, e.g.
further international market expansion in the UK, Scandinavia, Benelux, and
Australia, as well as speeding up of OEM programs to integrate the EFOY
fuel cell into the standard equipment of motor homes directly ex works at
the manufacturers. In parallel, the Company is in the process of deciding
on establishing an SFC operation in the U.S. It is intended to create a
strong basis to grow and leverage the present defense business as well as
to penetrate the U.S. industrial and leisure markets.
Growth in the industrial business proceeds as expected with currently
doubled sales compared to previous year.
SFC Smart Fuel Cell AG will publish its 6 months report on July 24, 2008.
About SFC Smart Fuel Cell AG
SFC Smart Fuel Cell AG (www.sfc.com) is market leader in fuel cell
technologies for mobile and off-grid power applications serving the
leisure, industrial and defense markets. As one of Germany's technology
pioneers, SFC has won numerous innovation awards. SFC has alliances with
leading companies in a wide range of industries. Unlike most other fuel
cell manufacturers, who are in the research and development phase or run
subsidized demonstration projects, SFC has shipped fully commercial
products to industrial and private end users for four years, and has
created a convenient fuel cartridge supply infrastructure. SFC is DIN ISO
9001:2000 certified.
SFC Investor Relations:
Barbara v. Frankenberg
Investor Relations Manager
SFC Smart Fuel Cell AG
Eugen-Saenger-Ring 4
D-85649 Brunnthal
Tel. +49 89 673 592 378
Fax. +49 89 673 592 369
Email: barbara.frankenberg@sfc.com
Web: www.sfc.com
09.06.2008 Financial News transmitted by DGAP
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Language: English
Issuer: SFC Smart Fuel Cell AG
Eugen-Saenger-Ring 4
85649 Brunnthal
Deutschland
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, München, Düsseldorf, Stuttgart
End of News DGAP News-Service
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SFC Smart Fuel Cell AG / Forecast
09.06.2008
Release of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
=--------------------------------------------------------------------------
- Slower growth in the leisure market continues
- Potential delays in defense programs
- Raw material cost burden margins
Brunnthal, Germany, June 9, 2008 - As reported in the first quarter report,
the slow down in sales to end users and the related high inventory at the
distributers has decelerated sales growth in the leisure market. In the
defense sector, budget decisions and orders to be awarded to SFC expected
for Q2/08 have been delayed, therefore planned revenue recognition in 2008
may potentially be at risk.
Even though the European accessory market for motor homes has seen a strong
decline in turnover, SFC continues to grow. Due to the developments
mentioned, however, SFC Management expects a reduced 2008 sales growth of
20 to 30 percent compared to 2007 (14.4 m EUR). Against this background,
break-even will not be achievable this year, also with regard to the risk
of further increasing raw material cost.
Counter actions in the leisure markets have already been initiated, e.g.
further international market expansion in the UK, Scandinavia, Benelux, and
Australia, as well as speeding up of OEM programs to integrate the EFOY
fuel cell into the standard equipment of motor homes directly ex works at
the manufacturers. In parallel, the Company is in the process of deciding
on establishing an SFC operation in the U.S. It is intended to create a
strong basis to grow and leverage the present defense business as well as
to penetrate the U.S. industrial and leisure markets.
Growth in the industrial business proceeds as expected with currently
doubled sales compared to previous year.
SFC Smart Fuel Cell AG will publish its 6 months report on July 24, 2008.
About SFC Smart Fuel Cell AG
SFC Smart Fuel Cell AG (www.sfc.com) is market leader in fuel cell
technologies for mobile and off-grid power applications serving the
leisure, industrial and defense markets. As one of Germany's technology
pioneers, SFC has won numerous innovation awards. SFC has alliances with
leading companies in a wide range of industries. Unlike most other fuel
cell manufacturers, who are in the research and development phase or run
subsidized demonstration projects, SFC has shipped fully commercial
products to industrial and private end users for four years, and has
created a convenient fuel cartridge supply infrastructure. SFC is DIN ISO
9001:2000 certified.
SFC Investor Relations:
Barbara v. Frankenberg
Investor Relations Manager
SFC Smart Fuel Cell AG
Eugen-Saenger-Ring 4
D-85649 Brunnthal
Tel. +49 89 673 592 378
Fax. +49 89 673 592 369
Email: barbara.frankenberg@sfc.com
Web: www.sfc.com
09.06.2008 Financial News transmitted by DGAP
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Language: English
Issuer: SFC Smart Fuel Cell AG
Eugen-Saenger-Ring 4
85649 Brunnthal
Deutschland
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, München, Düsseldorf, Stuttgart
End of News DGAP News-Service
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