Heliocentris Reports 33% Revenue Growth With Q3 Results In 2009
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.