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2021-07-27

ENOGIA: First-half 2021 revenue: +49%

ENOGIA
ENOGIA: First-half 2021 revenue: +49%

27-Jul-2021 / 18:00 CET/CEST
Dissemination of a French Regulatory News, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.


 

First-half 2021 revenue: +49%

Good momentum in both the ORC and Hydrogen business lines

 

Marseille, 27 July 2021 - 6 p.m.

 

ENOGIA, an expert in micro-turbomachinery for the energy transition, announces its revenue for the first half of 2021.

 

Arthur Leroux, Chairman and CEO, said: "Barely 10 days after our IPO on Euronext Growth, I am pleased to announce a significant increase in our revenue in the first half of 2021. Our growth momentum, which is set to continue throughout the second half, is in line with our expectations and our growth plan. Backed up by the funds raised through our IPO, and strengthened by our technological lead and the very bright market prospects for our two business lines - ORC and Hydrogen - we are stepping up the pace of our development to contribute to the energy transition."

 

Revenue for the six months to end-June 2021: €1.3 million

In € thousands

H1 2020

H1 2021

Change

Revenue

                 884  

              1,316  

49%

of which ORC

   884  

                   1,203  

36%

of which Hydrogen Compressors

-

                    113  

-

 

ENOGIA's half-year revenue came to €1.3 million, up nearly 50% compared with the same period in 2020.

The first half of 2021 marked a clear upturn in business, after a year impacted by the closure of borders in 2020, bearing in mind that ENOGIA's business has a significant international slant. Export sales accounted for 55% of revenue in the first half of 2021, compared with 21% in the first half of 2020.

The ORC business is benefiting from the recovery to the full. ORC revenue amounted to €1.2 million in the six months to end-June 2021, compared with €0.9 million in the same period in 2020, driven chiefly by the strength of the legacy gensets and industry segments.

The Hydrogen Compressors business generated €0.1 million in revenue over the half-year. Negotiations are underway to follow up on the first two contracts signed in 2020. At the same time, ENOGIA is continuing its discussions with other key players in the hydrogen fuel cell market.

 

Outlook 

The first half of 2021 was characterised by strong growth reflecting trading and shipment momentum following the reopening of borders. ENOGIA has also experienced good commercial trends since the start of the year, which should result in sustained growth in the second half of 2021.

The IPO on Euronext Growth enabled ENOGIA to raise €11.1 million, which could be increased to €12.7 million in the event of the full exercise of the greenshoe option. The funds raised give ENOGIA the means to achieve its ambitions: accelerate growth momentum in the ORC business and become a key player in the hydrogen market.

 

Next release:

Half-year 2021 results, 19 October 2021 after trading

 

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