false 2023 Q2 2023-06-30 --12-31 0001819794 0001819794 2023-01-01 2023-06-30 0001819794 2023-06-30 0001819794 2022-12-31 0001819794 2022-01-01 2022-06-30 iso4217:EUR iso4217:EUR xbrli:shares xbrli:shares

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

 

FORM 6-K

 

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934

 

For the month of: December 2023

 

Commission File Number: 005-91913

 

Fusion Fuel Green PLC
(Translation of registrant’s name into English)

 

The Victorians

15-18 Earlsfort Terrace

Saint Kevin’s
Dublin 2, D02 YX28, Ireland
(Address of principal executive office)

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☒  Form 40-F ☐

 

 

 

 

This Report of Foreign Private Issuer on Form 6-K (“Form 6-K”) of Fusion Fuel Green PLC (the “Company”) contains the Company’s unaudited interim condensed consolidated statements of financial position and unaudited condensed consolidated statements of profit or loss and other comprehensive income for the six months ended June 30, 2023 and 2022, which have not been reviewed by the Company’s independent accountants. The Company is providing the unaudited financial statements for the six-month periods ended June 30, 2023 and 2022 for the purpose of meeting the requirements of NASDAQ Listing Rule 5250(c)(2).

 

This Report on Form 6-K is hereby incorporated by reference into the Company’s registration statements on Form F-3 (File Nos. 333-251990 and 333-264714).

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Six Months Ended June 30, 2023

 

Condensed consolidated statements of financial position (Unaudited)

 

           
   As at
   30 June 2023  31 December 2022
    €’000    €’000 
Non-current assets          
Property, plant and equipment   28,755    21,273 
Intangible assets   5,184    5,350 
Total non-current assets   33,939    26,623 
           
Current assets          
Inventory   19,292    22,336 
Prepayments and other receivables   5,644    8,242 
Cash and cash equivalents   3,085    8,164 
Total current assets   28,021    38,742 
           
Total assets   61,960    65,365 
           
Non-current liabilities          
Trade and other payables - Leases   9,745    7,651 
Deferred income   5,642    2,925 
Total non-current liabilities   15,387    10,576 
           
Current liabilities          
Trade and other payables   13,207    7,262 
Provisions   8,403    8,403 
Deferred income   1,375    186 
Cost accruals   2,452    1,934 
Derivative financial instruments – warrants   2,368    7,651 
Loans and borrowings   414    - 
Total current liabilities   28,219    25,436 
           
Total liabilities   43,606    36,012 
           
Net assets   18,354    29,353 
           
Equity          
Share capital   2    2 
Share premium   219,561    217,156 
Share-based payments reserve   4,139    3,972 
Retained earnings   (205,348)   (191,777)
Total equity   18,354    29,353 

 

 

 

 

Condensed consolidated statements of profit or loss and other comprehensive income (Unaudited)

 

           
   For the
six months
ended June 30, 2023		  For the
six months
ended June 30, 2022
    €’000    €’000 
Revenue   -    - 
Cost of sales – raw materials   (7,298)   (660)
Gross profit   (7,298)   (660)
           
Operating expenses          
Administration expenses   (10,814)   (6,980)
Share-based payment (expense)/credit   (1,207)   (1,755)
Operating loss   (19,319)   (9,395)
           
Net finance income          
Finance income/(costs)   37    338 
Interest receivable and similar income   29    9 
Interest payable and similar expense   (277)   (16)
Derivative financial instruments at FVTPL   5,283    1,694 
Net finance income/(costs)   5,072    2,025 
           
Share of losses of equity-accounted investees   (205)   (282)
           
(Loss)/profit before tax   (14,452)   (7,652)
Income tax expense   (159)   (34)
Total comprehensive (loss)/income for the year   (14,611)   (7,686)
           
Basic (loss)/earnings per share   (0.57)   (0.54)
           
Diluted (loss)/earnings per share   (0.57)   (0.53)
           

 

 

The above unaudited interim statements of financial position and statements of profit or loss and other comprehensive income (the “financial information”) have been prepared in accordance with International Financial Reporting Standards and the Company’s accounting policies but do not constitute an interim financial report as defined in IAS 34 (Interim Financial Reporting).

 

 

 

 

 

 

 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

  Fusion Fuel Green PLC
  (Registrant)
   
Date: December 28, 2023 /s/ Frederico Figueira de Chaves
  Frederico Figueira de Chaves
  Chief Executive Officer

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

v3.23.4
Cover
 6 Months Ended
Jun. 30, 2023
Cover [Abstract]  
Document Type 6-K
Amendment Flag false
Document Period End Date Jun. 30, 2023
Document Fiscal Period Focus Q2
Document Fiscal Year Focus 2023
Current Fiscal Year End Date --12-31
Entity File Number 005-91913
Entity Registrant Name Fusion Fuel Green PLC
Entity Central Index Key 0001819794
Entity Address, Address Line One The Victorians
Entity Address, Address Line Two 15-18 Earlsfort Terrace
Entity Address, Address Line Three Saint Kevin’s
Entity Address, City or Town Dublin 2
Entity Address, Country IE
Entity Address, Postal Zip Code D02 YX28
v3.23.4
Condensed consolidated statements of financial position (Unaudited) - EUR (€)
€ in Thousands
Jun. 30, 2023
Dec. 31, 2022
Non-current assets    
Property, plant and equipment € 28,755 € 21,273
Intangible assets 5,184 5,350
Total non-current assets 33,939 26,623
Current assets    
Inventory 19,292 22,336
Prepayments and other receivables 5,644 8,242
Cash and cash equivalents 3,085 8,164
Total current assets 28,021 38,742
Total assets 61,960 65,365
Non-current liabilities    
Trade and other payables - Leases 9,745 7,651
Deferred income 5,642 2,925
Total non-current liabilities 15,387 10,576
Current liabilities    
Trade and other payables 13,207 7,262
Provisions 8,403 8,403
Deferred income 1,375 186
Cost accruals 2,452 1,934
Derivative financial instruments – warrants 2,368 7,651
Loans and borrowings 414
Total current liabilities 28,219 25,436
Total liabilities 43,606 36,012
Net assets 18,354 29,353
Equity    
Share capital 2 2
Share premium 219,561 217,156
Share-based payments reserve 4,139 3,972
Retained earnings (205,348) (191,777)
Total equity € 18,354 € 29,353
v3.23.4
Condensed consolidated statements of profit or loss and other comprehensive income (Unaudited) - EUR (€)
€ in Thousands
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Profit or loss [abstract]    
Revenue
Cost of sales – raw materials (7,298) (660)
Gross profit (7,298) (660)
Operating expenses    
Administration expenses (10,814) (6,980)
Share-based payment (expense)/credit (1,207) (1,755)
Operating loss (19,319) (9,395)
Net finance income    
Finance income/(costs) 37 338
Interest receivable and similar income 29 9
Interest payable and similar expense (277) (16)
Derivative financial instruments at FVTPL 5,283 1,694
Net finance income/(costs) 5,072 2,025
Share of losses of equity-accounted investees (205) (282)
(Loss)/profit before tax (14,452) (7,652)
Income tax expense (159) (34)
Total comprehensive (loss)/income for the year € (14,611) € (7,686)
Basic (loss)/earnings per share € (0.57) € (0.54)
Diluted (loss)/earnings per share € (0.57) € (0.53)
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