SFC Energy AG

  • WKN: 756857
  • ISIN: DE0007568578
  • Land: Deutschland

Nachricht vom 19.03.2020 | 16:31

SFC Energy AG withdraws guidance for current financial year due to COVID-19 pandemic and negative oil price development

SFC Energy AG / Key word(s): Forecast
SFC Energy AG withdraws guidance for current financial year due to COVID-19 pandemic and negative oil price development

19-March-2020 / 16:31 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014

SFC Energy AG withdraws guidance for current financial year due to COVID-19 pandemic and negative oil price development

Brunnthal/Munich, March 19, 2020 - SFC Energy AG expects the COVID-19 pandemic and the recent negative development of the oil price in connection with the OPEC+ dispute to have a negative impact on the guidance for the 2020 financial year published on February 11, 2020 - despite a very dynamic start to the current financial year. Given the unprecedented operational and financial challenges posed by the spread of COVID-19 and the uncertain developments in the coming weeks, the economic impact of the pandemic on SFC Energy, however, can neither be adequately determined nor reliably quantified at this time. A stable and sufficiently reliable guidance for the current financial year is currently not possible.

The COVID-19 pandemic and the global response measures taken in this context are expected to have a significant impact on the global economy and thus also on SFC Energy. Even though SFC Energy is currently still producing at the limits of its capacity, the Management Board expects demand in the Industry and Oil & Gas segments to slow considerably in the second and third quarters of 2020. The Management Board has therefore already decided on measures to reduce personnel and material costs in these segments. In the Defense & Security segment, SFC Energy expects a significant delay in demand in the first half of the year. However, the Management Board considers a significant increase in demand in this segment in the second half of the current financial year to be possible. The civil fuel cell business with methanol and hydrogen products in the Clean Energy & Mobility segment is currently still running at a high level, but here, too, a slowdown is expected in the coming months, especially for purely practical reasons such as a lack of installation personnel. However, the Management Board expects demand in this segment to pick up again in the second half of the current financial year and thus to grow significantly.

The Management Board of SFC Energy is constantly and comprehensively monitoring the situation and is willing to meet the challenges posed by the COVID-19 pandemic with another comprehensive package of measures if necessary. Ensuring the health and safety of its employees is the highest priority for SFC Energy. Against this background and with a view to its stable financing, SFC Energy is also considering measures such as short-time work where necessary.

SFC Energy will further inform the capital market in due course about the progress of this development.

IR Contact:
SFC Energy AG
Eugen-Saenger-Ring 7
D-85649 Brunnthal
Tel. +49 89 673 592-378
Email: ir@sfc.com
Web: www.sfc.com

CROSS ALLIANCE communication GmbH
Susan Hoffmeister
Tel. +49 89 125 09 03-33
Email: susan.hoffmeister@sfc.com
Web: crossalliance.de


19-March-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de



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