on STIF (EPA:ALSTI)
STIF shows growth of 69% in the first half of 2024
Saint-Georges-sur-Loire, July 24, 2024 - STIF, specialist in protection against explosions, announces a turnover of €27.7 million for the first half of 2024, an increase of 69.3% compared to to the previous year. This growth is supported by the rise of the BESS (Battery Energy Storage System) activity.
The BESS activity generated €11.0 million during this period, representing 40% of the Group's total turnover. STIF also confirmed expected business volumes of €13 million with Tesla and €5 million with Sungrow for the supply of explosion-proof panels.
Furthermore, STIF obtained public funding of €6 million from Bpifrance, intended to strengthen its financial capabilities and accelerate its international development, particularly in the BESS market. This financing includes a revolving loan of €3 million and another of €3 million amortizable over 8 years.
STIF forecasts a turnover of €80 million by 2027 and confirms its growth strategy supported by innovation and expansion into new markets, particularly in the United States with a new production unit in Texas.
R. P.
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