McPhy expecting delays to group activity

McPhy is expecting delays to its order book as a result of the ongoing coronavirus pandemic.

A prominent player in the hydrogen energy sector, McPhy said its production sites in France and Germany have remained operational with limited on-site resources and strengthened safety conditions, whilst its Italian operations were suspended on 23rd March. Operations on McPhy’s San Miniato site are gradually resuming.

Within this uncertain context, McPhy has identified risks regarding delays in the execution of the French company’s contracts, notably due to the domino effect of any delays McPhy may see from its suppliers.

“At this stage, the extent of these delays cannot be accurately quantified, and will depend on the ability of the group’s suppliers to meet their own commitments, on the length of the restrictions put in place by the various governments, on the extent of the global resumption in activity and on the group’s ability to make up for the delays,” McPhy said in a statement.

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