Heliocentris Reports 33% Revenue Growth With Q3 Results In 2009

December 01, 2009 by Jeff Shepard

Heliocentris Fuel Cells AG announced its preliminary numbers for the nine months ending September 2009. Revenues for the period were up 33% year on year to €2.27 million despite a difficult market environment.

Dr. Andras Gosztonyi, CFO, commented: "We are pleased that our expansion strategy translates into considerable revenue growth even in a very turbulent market. It shows the strategy to be aggressive but also well balanced."

Group sales totaled €2.27 million (Q1-Q3 2008: €1.71 million) until the end of September. Net loss totaled € -2.05 million (Q1-Q3 2008: € -1.74 million).

At the end of the quarter, the company’s liquid funds totaled € 4.45 million. The figures are in accordance with German Accounting Standards (HGB) and are unaudited.