McPhy: heavy loss in FY23, eyeing convertibles financing
Yesterday, McPhy reported a FY23 EBITDA loss of EUR44.6m (vs -EUR36.8m in 2022), slightly higher than consensus expectations (cons. at -EUR42.5m, BGe at -EUR43.2m) after previously announcing revenue of EUR18.8m. We believe this loss is unlikely to be reduced anytime soon as the company continues tMcPhy Energy SAS is a France-based company that develops hydrogen storage and production solutions for the merchant hydrogen market and renewable energy markets. The Company sells solid-state hydrogen technology to provide a way for industrial gas renewable energy storage. Its products include the electrolyzer, a hydrogen generator that uses water as a raw material; solid hydrogen storage solutions with MCP and MGH series; and other ways that integrate electrolyzers and other solutions. It has offices in such countries as France, Italy and Germany and agents and distributors in Europe, Asia and Americas.
Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.
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