Solid development in McPhy’s 2022 Yearly Income as well as Company Order Consumption

January 24, 2023



  • Yearly income of EUR16.0 million, driven by +37% development in the 2nd fifty percent of the year

  • +56% rise in the stockpile 1, created by company order consumption of EUR29.4 million for the year 2022

  • Sector spots agreement authorized end of the year for a low-carbon steel job in Germany with among the globe’s leading steel teams

  • Introduce of the Gigafactory job in Belfort after acquiring IPCEI financing 2

  • Anticipated internet cash money placement of around EUR135 million at December 31, 2022

Grenoble, January 24, 2023 – 5:45 pm CET – McPhy Power, concentrated on low-carbon hydrogen manufacturing as well as circulation devices (electrolyzers as well as refueling terminals), today reveals its income for the 2022 fiscal year, finishing December 31.

2022 Full-Year Income 3

In EUR million



% adjustment

Initial term



Reiterated initially term 4



2nd term




Complete income




Reiterated income




Company order consumption








Jean-Baptiste Lucas, Ceo of McPhy, remarks: “The year 2022 marks McPhy’s go back to an energy much more constant with both its capacity as well as those of low-carbon hydrogen, with a rise of almost 40% in our income as well as greater than 50% in order consumption. These are the initial indicators of upcoming releases in low-carbon hydrogen as the marketplace is obtaining much more organized. The initial gives under the Hydrogen PIIEC will certainly promote the advancement of manufacturing capabilities as well as will soon be complied with by a 2nd wave of financing, which will certainly sustain need as well as the shift to larger-scale tasks. For that reason, the launch of our Gigafactory job on the Belfort website in the 2nd fifty percent of the year is a significant tactical advance. Undoubtedly, it will certainly enable us to decrease the expense of our electrolyzers as well as boost their capability in order to supply affordable low-carbon hydrogen really promptly. We are therefore coming close to 2023 with self-confidence in our capacity to produce continual development as well as passionate concerning the suggestion of developing a premium commercial device, which is a necessary problem to continue to be at the leading edge of the low-carbon hydrogen change”.

Go back to continual development in sales in 2022

Income for the 2022 fiscal year is up 22% contrasted to 2021, to EUR16.0 million Reiterated for the requisition of 2 old generation terminals marketed throughout previous fiscal years (the quantity of which was subtracted from the income for the initial fifty percent of the year), income would certainly total up to EUR18.2 million compared to EUR13.1 million in 2021, standing for a development of +39%. This go back to development mainly arises from the materialization of the initial orders under the significant agreements transferred the previous years. The income failure in between the supply of electrolyzers of huge capability McLyzer as well as of Piel variety (68%) as well as the supply of terminals (32%).

Industrial energy reinforced by the finalizing of a spots commercial agreement

Throughout the initial term, McPhy authorized an agreement with a subsidiary of Eiffage to gear up a website in Belfort with a 1 MW electrolyzer as well as a reenergizing terminal with the ability of dispersing approximately 800 kg/day to sustain a fleet of hydrogen buses. The Team likewise got 2 initial orders in the structure of its tactical collaboration with Buzz to supply: (i) 2 alkaline electrolyzers with a capability of 2 MW for the initial as well as updated to 4 MW for the 2nd, along with (ii) 2 Double Stress terminals with a capability of 800 kg each day each to be set up in the Paris area. Throughout the 2nd fifty percent of the year, McPhy likewise settled an 8-year upkeep agreement with Siemens Power. McPhy groups will certainly handle the upkeep of the hydrogen manufacturing devices on the CEOG job website.

At the end of the year, the Team taped a spots order in the commercial market with a joint endeavor managed by among the globe’s leading steel teams The arrangement consists of the devices of an ingenious low-carbon steel manufacturing job at a plant in Germany, near McPhy’s layout as well as design website in Wildau. The arrangement, favoured by the geographical distance, shows the importance of the Team’s European operating set up. The arrangement covers the supply of 2 McLyzer electrolyzers with a capability of 1 MW each, along with a Double Stress 350/700 bar terminal committed to the supply of forklift vehicles as well as trailer vehicles. It has actually likewise been concurred of a 5-year long-lasting solutions agreement. The initial distribution of low-carbon steel must occur in the initial fifty percent of 2024.

Solid rise in order consumption as well as stockpile

Every one of these components enable McPhy to tape-record a +53% development in company order consumption, which totals up to EUR29.4 million, bringing the order stockpile to EUR31.3 million at December 31, 2022, up +56% contrasted to December 31, 2021

Since 31 December 2022, McPhy had a profile of tasks authorized, appointed and/or under implementation standing for an overall of 45 MW as well as 40 terminals. The Team had actually additionally been determined as a recommended companion and/or chosen provider for 148 MW as well as 56 terminals, bringing its referrals to 193 MW as well as 96 terminals.

Velocity of commercial scale-up with the launch of the Gigafactory job

The qualification of McPhy’s electrolyzer Gigafactory job to the IPCEI plan was authorized by the European Payment in July, permitting the finalizing of a public help agreement with the French State stood for by Bpifrance, for a optimum quantity of EUR114 million On that particular basis, McPhy has actually formally made a last financial investment choice as well as got an initial repayment of EUR28.5 million from Bpifrance. Job has actually currently started on the appointing of the future plant on the Belfort website, with a launch set up for the initial fifty percent of 2024, complied with by a progressive ramp-up to get to a yearly manufacturing capability of 1 GW

Simultaneously, McPhy proceeded its initiatives to scale up the electrolyzer component of business by enhancing its manufacturing capability to 300 MW on its San Miniato website, in order to satisfy market need while awaiting for the appointing of the Gigafactory.

For the Terminals component, McPhy has actually settled the regrouping of all the tasks of this company line on its brand-new website in the heart of Grenoble in an existing commercial structure of greater than 4,000 sqm. This brand-new website will certainly have a manufacturing capability of 150 systems each year.

Extension of an energetic employment plan

McPhy has actually hired 85 brand-new staff members (of which 66 on irreversible agreements) in 2022, showing its capacity to bring in ability in an open market as well as in a market where abilities are vital. The Team currently accounts 205 staff members as well as will certainly maintain its energetic employment plan though at a slower rate.


Provided the velocity of advancement financial investments as well as the surge in the variety of staff members in the 2nd fifty percent of the year, the Team approximates that its EBITDA will certainly total up to EUR-34 to EUR-37 million for the 2022. The Team’s internet cash money placement must for that reason be around EUR135 million, consisting of the preliminary repayment of EUR28.5 million from Bpifrance as component of the launch of the Gigafactory.

The degree of its stockpile as well as the proceeded ramp-up of the hydrogen market, enable McPhy to prepare for one more year of continual development in 2023

Following monetary interaction:


Specialized in hydrogen manufacturing as well as circulation devices, McPhy is adding to the international release of low-carbon hydrogen as a remedy for power shift. With its total variety of items committed to the commercial, movement as well as power fields, McPhy supplies its consumers complete options adjusted to their applications in commercial resources supply, charging of gas cell electrical lorries or storage space as well as recuperation of power excess based upon sustainable resources. As developer, maker as well as integrator of hydrogen devices because 2008, McPhy has 3 advancement, design as well as manufacturing facilities in Europe (France, Italy, Germany). Its global subsidiaries supply wide industrial protection for its cutting-edge hydrogen options. McPhy is provided on Euronext Paris (area B, ISIN code: FR0011742329, MCPHY).



Financier Relations

Emmanuel Huynh
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Nicolas Merigeau
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1 Orders not yet identified as income

2 PIIEC (“ Important Job of Typical European Passion“) or IPCEI (“ Important Job of Typical European Passion“) is a financing plan that sustains tasks regarded crucial for Europe’s competition, permitting Participant States to money campaigns past the limitations normally established by European policies. The PIIEC or IPCEI Hydrogen (” Hy2Tech”) was authorized by the European Payment on 15 July 2022.

3 Numbers under audit since the day of this paper

4 Income leaving out the quantity of the requisition of 2 old modern technology terminals for industrial factors


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