BRUNNTHAL (dpa-AFX) - Driven by the surprisingly rapid expansion in the USA and India, fuel cell supplier SFC Energy plans to grow significantly in the coming years. The SDax-listed company announced on Monday in Brunnthal near Munich that consolidated sales are to increase to 400 to 500 million euros by 2028. Of this, more than 15 percent is to remain as earnings before interest, taxes, depreciation and amortization (EBITDA) adjusted for special effects. Group CEO Peter Podesser sees further opportunities for profitable growth due to the increasing consolidation in the industry, which, in addition to further expansion, should help the company achieve its medium-term targets.

SFC Energy raised its targets for the current year again as recently as mid-November. Since then, the Management Board expects earnings of 115 to 117 million euros after 85 million euros in the previous year. Adjusted for special items, earnings before interest, taxes, depreciation and amortization (EBITDA) are expected to reach 13 to 14.1 million euros. In 2022, SFC Energy had reported 10.5 million euros here./ngu/mis