Last night, McPhy Energy reported strong growth in annual sales and firm orders for 2022.

The specialist in low-carbon hydrogen production and distribution equipment reported annual sales of 16 million euros, up 22% year-on-year.

The consensus forecast was for sales of 15.7 million euros.

In its press release, McPhy reports a 56% increase in its backlog, generated by firm orders worth 29.4 million euros for fiscal 2022.

The electrolyser and recharging station manufacturer, which has launched its Gigafactory project at its Belfort site, says it is confident in its ability to generate sustained growth in 2023.

Its net cash position is expected to be around 135 million euros on December 31, 2022.

Following this publication, the share price gained 0.1% on Wednesday morning on the Paris Bourse.

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