Lhyfe shares were up by more than 10% on the Paris Bourse on Wednesday, after the company announced that its sales would double by 2023.

The specialist in green and renewable hydrogen production said it had recorded sales of 1.3 million euros last year, compared with 0.6 million euros in 2022, driven by the expansion of its customer portfolio following the signing of new contracts.

This performance far exceeded analysts' estimates, who were targeting average sales of around one million euros.

However, in a reaction note, Invest Securities considers that this level of activity for 2023 is not yet 'significant', and questions the absence of comments on medium-term objectives.

Invest points out that the company has set itself the objective of achieving sales of around200 million by 2026, with break-even EBITDA.

By the end of 2023, Lhyfe's commercial pipeline represented a total installed electrolysis capacity of 9.9 GW.

Copyright (c) 2024 CercleFinance.com. All rights reserved.