McPhy Energy 'needs to beef up' order book, shares fall

Mcphy Energy SA

26/01/2022 08:47

** Shares in McPhy Energy  MCPHY.PA  drop more than 7% to
the bottom of France's large- and mid-cap index SBF 120  .120 
after the French company reported a decline in 2021 revenues
 urn:newsml:reuters.com:*:nFWN2U512A
    ** The supplier of hydrogen production and distribution
equipment posted FY revenue of EUR 13.1 mln ($14.80 mln), down
4.4% from a year earlier
    ** It flagged a firm order intake of EUR 19.2 mln, raising
the backlog by 30% to EUR 20.1 mln as of end-December
    ** Portzamparc analysts say the commercial dynamic remains
the main catalyst, with firm orders in line with expectations
    ** The brokerage, however, warns ongoing restructuring and
effect of potassium hydroxide leak in Germany will increase
losses
    ** Portzamparc says McPhy "still needs to beef up its order
book", as the broker forecasts EBIT loss of EUR 20 mln in 2021
    ** The stock is down by about 24% year-to-date at a price of
EUR 16.02, the lowest level in more than three months

($1 = 0.8854 euros)

 (Reporting by Juliette Portala)
 ((juliette.portala@tr.com))