McPhy, specialist in equipment for the production, storage and distribution of hydrogen (H2), has announced its revenue for 2017.
McPhy’s revenue increased by 34%, crossing the €10m ($12m) threshold. This growth was primarily driven by the European zone (up 84%), a market with strong growth and in which McPhy is well positioned due to its historic anchorage. The group offers unparalleled expertise in the development and engineering of large electrolysis systems in Germany, a solid industrial infrastructure in Italy and an engineering and prototyping capacity for storage systems and H2 stations in France. Lastly, this solid level of performance was obtained despite the postponement of several important contracts, expected in the second half of 2017, to the fiscal year 2018.
In June 2016, McPhy announced the entry into force of a contract for €6.4m ($7.8m) for the delivery of 4MW H2 generation units (Power-to-Gas) in Hebei (China). Revenue recognition for work in progress started in the second half of 2016 and was followed by the delivery of the units in the first half of 2017.
5% of the contract remain to be done in fiscal year 2018. Excluding the impact of this contract, the revenue growth for the other activities would have been 65%.
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