McPhy Energy, SBF 120 Mid-Session Biggest Drop on Monday, January 16, 2023 – – 16/01/2023, 12:39
(AOF) –
McPhy Energy
(- 5.55% – 13,865 euros)
A specialist in hydrogen production and distribution equipment is a high profit target. The stock is still up more than 13% since January 1st.
AOF – LEARN MORE
Key points
– Specialist in zero-carbon hydrogen production and distribution equipment established in 2008;
– €13.1 million turnover achieved 45% in McFilling hydrogen stations, 39% in McLyser high-capacity electrolyzers and 16% in Piel catalysts;
– A business model targeting a minimum of 5 degrees
c
manufacturing and distribution of green hydrogen equipment, supporting industrial, mobility and energy customers on their decarbonisation trajectories;
– 14.8% of capital by EDF and 6% by BPI France-historical shareholders-, 4.6% by Chart Industry and 2.3% by Technip Energies-strategic shareholders, 10 people Luc Poyer, Chairman of the Board of Directors , Jean-Baptiste Lucas General Manager;
– Strong financial position with equity of 205 million euros and net cash of 142 million euros at the end of June.
Challenges
– “Driving CleanEnergy Forward” corporate project to accelerate the introduction of zero-carbon energy ecosystems and high-capacity equipment;
– Innovation strategy funded by strengthened R&D efforts: new generation electrolysers and stations for large-scale projects (100+MW electrolysers, stations with distribution capacity 2+ tons per day) / improvement of electricity consumption of electrolysers / gas optimization storage management;
– Environmental strategy integrated into action, 2025 roadmap with 100% of electricity supply coming from renewable energies is currently being structured;
– Realization of the German Djewels project, which is the largest zero-carbon hydrogen field in Europe;
– The European Union agreement for the Gigafactory electrolyser production site in Belfort, where a final investment decision will be made in the fall;
– Impacts from a €29.1 million increase in the order book at the end of June, heavy industrial investment in Miniato and Grenoble and hiring (doubling of the workforce between 2020 and 2022).
Challenges
– Possibility of halving the price of green hydrogen by the end of the decade;
– We expect new business opportunities from numerous industrial partnerships – Chart Industries EDF, Enel, Hype, Plastic Omnium, Technip Energies, TSG;
– Recovery of investor confidence after 6 damaging years, including 2021 marked by the postponement of major projects and an industrial accident;
– After fixed revenues and doubling of net loss in 1
er
semester, lowering the 2022 target to moderate revenue growth.
Learn more about the utilities sector
Larger differences between utilities
The World Energy Markets Observatory highlights the wide disparity in retail energy prices in Europe. Players’ profitability is under pressure, suffering both from the impact of wholesale price hikes and high volatility in selling prices to end consumers. Although Europe’s sixteen largest energy suppliers benefited from a significant increase in turnover (+47% compared to 2020) last year, their gross operating margin (Ebitda margin) deteriorated from 20.2% to 19.6%. Those forced to purchase electricity in the market had to pay for these additional volumes at a much higher price than the already established selling price level and therefore saw their margins deteriorate.
Faced with low availability of its nuclear fleet, EDF, re-nationalised, should make annual losses of €29 billion in 2022. Engie is doing better because it managed to reduce Russian gas imports in the first half while benefiting from higher electricity prices. and greater exposure to renewable resources.
