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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 2024
Commission File Number: 001-39789
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 ☐
In compliance with Nasdaq Listing Rule 5250(c)(2), Fusion Fuel Green PLC (the “Company”) is furnishing this report on Form 6-K to submit 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, 2024 and 2023. The financial information set forth in this report is unaudited and subject to adjustment in connection with the audit of the Company’s financial statements for the year ending December 31, 2024.
This report on Form 6-K is incorporated by reference into the Company’s registration statements on Form F-3 (File Nos. 333-251990, 333-264714 and 333-276880) and Form S-8 (File No. 333-258543) and the prospectuses thereof and any prospectus supplements or amendments thereto.
Six Months Ended June 30, 2024
Condensed Consolidated Statements of Financial Position (Unaudited)
| 30 June 2024 |
31 December 2023 |
|||||||
| €’000 | €’000 | |||||||
| Non-current assets | ||||||||
| Property, plant and equipment | 24,296 | 24,777 | ||||||
| Intangible assets | 4,625 | 5,076 | ||||||
| Other receivables | 1,176 | 1,176 | ||||||
| Total non-current assets | 30,097 | 31,028 | ||||||
| Current assets | ||||||||
| Assets held for sale | 833 | 833 | ||||||
| Trade receivables | 230 | - | ||||||
| Prepayments and other receivables | 3,366 | 4,919 | ||||||
| Inventory | 5,316 | 3,672 | ||||||
| Income accruals | 752 | 752 | ||||||
| Cash and cash equivalents | 411 | 1,147 | ||||||
| Total current assets | 10,908 | 11,323 | ||||||
| Total assets | 41,005 | 42,351 | ||||||
| Non-current liabilities | ||||||||
| Trade and other payables - Leases | 9,966 | 9,958 | ||||||
| Deferred income | 9,771 | 9,299 | ||||||
| Total non-current liabilities | 19,737 | 19,257 | ||||||
| Current liabilities | ||||||||
| Trade and other payables | 14,184 | 15,312 | ||||||
| Provisions | 609 | 609 | ||||||
| Deferred income | 1,353 | 587 | ||||||
| Cost accruals | 1,626 | 1,764 | ||||||
| Derivative financial instruments – warrants | 456 | 765 | ||||||
| Loans and borrowings | 1,186 | 1,326 | ||||||
| Total current liabilities | 19,414 | 20,363 | ||||||
| Total liabilities | 39,151 | 39,620 | ||||||
| Net assets | 1,855 | 2,731 | ||||||
| Equity | ||||||||
| Share capital | 2 | 2 | ||||||
| Share premium | 226,182 | 220,157 | ||||||
| Share-based payments reserve | 6,409 | 5,365 | ||||||
| Retained earnings | (230,738 | ) | (222,793 | ) | ||||
| Total equity | 1,855 | 2,731 | ||||||
Condensed Consolidated Statements of Profit or Loss and Other Comprehensive Income (Unaudited)
|
For the six
months |
For the six months |
|||||||
| €’000 | €’000 | |||||||
| Revenue | - | - | ||||||
| Cost of sales | 197 | (7,298 | ) | |||||
| Gross profit | 197 | (7,298 | ) | |||||
| Operating expenses | ||||||||
| Administration expenses | (7,013 | ) | (10,814 | ) | ||||
| Share-based payment expense | (1,040 | ) | (1,207 | ) | ||||
| Operating loss | (7,856 | ) | (19,319 | ) | ||||
| Net finance income | ||||||||
| Finance income/(costs) | (71 | ) | 37 | |||||
| Interest receivable and similar income | 2929 | 29 | ||||||
| Interest payable and similar expense | (320 | ) | (277 | ) | ||||
| Derivative financial instruments at FVTPL | 309 | 5,283 | ||||||
| Net finance income/(costs) | (53 | ) | 5,072 | |||||
| Share of losses of equity-accounted investees | - | (205 | ) | |||||
| (Loss)/profit before tax | (7,909 | ) | (14,452 | ) | ||||
| Income tax expense | (32 | ) | (159 | ) | ||||
| Total comprehensive (loss)/income for the year | (7,941 | ) | (14,611 | ) | ||||
| Basic (loss)/earnings per share | (0.47 | ) | (0.57 | ) | ||||
| Diluted (loss)/earnings per share | (0.47 | ) | (0.57 | ) | ||||
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 26, 2024 | /s/ John-Paul Backwell |
| John-Paul Backwell | |
| Chief Executive Officer |