Sustainable generators maker SFC Energy surges after Q1 core profit quadruples
16/05/2023 09:08
** Shares in SFC Energy F3CG.DE jump 10%, set for best day
in almost nine months, after its first-quarter core profit
quadrupled on higher gross profit and lower-than-expected
functional costs relative to sales
** The German producer of sustainable energy generators says
Q1 adjusted EBITDA surged 314% to 3.35 million euros ($3.69
million), fuelled by rising demand for off-grid green energy,
easing of global supply chain bottlenecks and price adjustments
** Q1 sales hiked 53% to 27.5 million euros
** The group expects demand growth to continue throughout
the year, especially in the U.S.
** It confirmed its 2023 guidance
($1 = 0.9084 euros)
(Reporting by Andrey Sychev)
((Andrey.Sychev2@thomsonreuters.com))