DGAP-Adhoc: 3W Power/AEG Power Solutions projects 2012 normalized EBITDA margin of above 9% despite lower revenue expectation of EUR 370-380 million
29.10.2012
3W Power S.A. / AEG Power Solutions / Key word(s): Change in Forecast/Development of Sales
29.10.2012 07:00
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Luxembourg/Zwanenburg, The Netherlands - October 29, 2012 - 3W Power SA
(Prime Standard, ISIN GG00B39QCR01, 3W9), the holding company of AEG Power
Solutions (AEG PS), a global leading provider of power electronic systems
and solutions for industrial power supplies and renewable energies, today
revised its 2012 year-end revenue forecast.
Revenue for the full year 2012 reduced to EUR 370-380 million down from EUR
430 million. The company projects a normalized EBITDA margin of at least
9%.
The revision in sales is due to a lack of POC orders, the cancellation of a
major POC project and the decision to declare the telecom converter
business in Lannion, France (CVT/LED) as an asset held for sale.
The industrial-based EES revenues excluding the telecom converter business
will exceed previous year levels; the Solar segment is growing profitably
10% year on year.
Despite the drop in sales, the company projects the normalized EBITDA
margin for 2012 to be above 9% which excludes the discontinued operations
of the telecom converter business. This EBITDA expectation has an
additional upside of up to EUR 7 million due to contractual cancellation
fees that may be recognized in Q4 2012.
A book-to-bill in Q3 of 1.1 underpins a solid market position despite the
weaknesses in the macroeconomic environment.
The group maintained solid liquidity in Q3 and had EUR65 million cash on
balance sheet at the end of September 2012.
In response to the headwinds in the macro environment, the company
initiated a cost reduction program in Warstein-Belecke, Germany and has
reduced central headquarter costs considerably. In total, a headcount
reduction of more than 100 employees globally is expected.
The overcapacity in the POC market has resulted in an accelerated
amortization charge of intangibles of EUR43.3 million.
3W Power/ AEG PS will publish its full Q3 and nine month 2012 results
together with its 2013 outlook on November 13, 2012.
=- End of Announcement --
Characters: c. 2,000
About 3W Power/AEG Power Solutions:
3W Power S.A. (WKN A0Q5SX / ISIN GG00B39QCR01), based in Luxembourg, is the
holding company of AEG Power Solutions Group. The Group is headquartered in
Zwanenburg in the Netherlands. The shares of 3W Power are admitted to
trading on Frankfurt Stock Exchange (ticker symbol: 3W9).
AEG Power Solutions Group is a global provider of power electronic systems
and solutions for all industrial power supplies and offers one of the most
comprehensive product and service portfolios in the area of power
conversion and power controlling. The two complementary operating business
units Renewable Energy Solutions (RES) and Energy Efficiency Solutions
(EES) are serving customers worldwide. The RES product and service
portfolio consists of systems and solutions for solar power plants like
solar inverter, monitoring and control systems as well as power controller.
The EES product and service portfolio includes high performance
uninterruptable power supplies (USPs), industrial power controller and
DC-converter.
Thanks to its distinctive expertise, bridging both AC and DC power
technologies and spanning the worlds of both conventional and renewable
energy, the company creates innovative solutions for smart grids.
AEG PS' footprint is global including 17 subsidiaries and competence
centers around the world, employing 1,700 employees.
For more information go to: www.aegps.com
This communication does not constitute an offer or the solicitation of an
offer to buy, sell or exchange any securities of 3W Power. This
communication contains forward-looking statements which include, inter
alia, statements expressing our expectations, intentions, projections,
estimates, and assumptions. These forward-looking statements are based on
the reasonable evaluation and opinion of the management but are subject to
risks and uncertainties which are beyond the control of 3W Power and, as a
general rule, difficult to predict. The management and the company cannot
and do not, under any circumstances, guarantee future results or
performance of 3W Power and the actual results of 3W Power may materially
differ from the information expressed or implied in the forward-looking
statements. As a result, investors are cautioned against relying on the
forward-looking statements contained herein as a basis for their investment
decisions regarding 3W Power.
3W Power undertakes no obligation to update or revise any forward-looking
statement contained herein.
For more information, contact:
Investor Relations:
Katja Buerkle
Associate Director
AEG Power Solutions
Phone: +31 20 4077 854
Cell: +31 6 1095 9019
E-mail: investors@aegps.com
Media Relations:
Christiane L. Döhler
M. A. - Exec. MBA HSG
DOEHLER COMMUNICATIONS
Phone: +49 89 51616810
Cell: +49 175 2905054
E-mail: cd@doehler-communications.com
29.10.2012 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: 3W Power S.A. / AEG Power Solutions
19, rue Eugène Ruppert
L-2453 Luxembourg
Grand Duchy of Luxembourg
Phone: +31 20 4077 863
Fax: +31 20 4077 875
E-mail: michael.julian@aegps.com
Internet: www.aegps.com
ISIN: GG00B39QCR01
WKN: A0Q5SX
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, München, Stuttgart
End of Announcement DGAP News-Service
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3W Power S.A. / AEG Power Solutions / Key word(s): Change in Forecast/Development of Sales
29.10.2012 07:00
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
=--------------------------------------------------------------------------
Luxembourg/Zwanenburg, The Netherlands - October 29, 2012 - 3W Power SA
(Prime Standard, ISIN GG00B39QCR01, 3W9), the holding company of AEG Power
Solutions (AEG PS), a global leading provider of power electronic systems
and solutions for industrial power supplies and renewable energies, today
revised its 2012 year-end revenue forecast.
Revenue for the full year 2012 reduced to EUR 370-380 million down from EUR
430 million. The company projects a normalized EBITDA margin of at least
9%.
The revision in sales is due to a lack of POC orders, the cancellation of a
major POC project and the decision to declare the telecom converter
business in Lannion, France (CVT/LED) as an asset held for sale.
The industrial-based EES revenues excluding the telecom converter business
will exceed previous year levels; the Solar segment is growing profitably
10% year on year.
Despite the drop in sales, the company projects the normalized EBITDA
margin for 2012 to be above 9% which excludes the discontinued operations
of the telecom converter business. This EBITDA expectation has an
additional upside of up to EUR 7 million due to contractual cancellation
fees that may be recognized in Q4 2012.
A book-to-bill in Q3 of 1.1 underpins a solid market position despite the
weaknesses in the macroeconomic environment.
The group maintained solid liquidity in Q3 and had EUR65 million cash on
balance sheet at the end of September 2012.
In response to the headwinds in the macro environment, the company
initiated a cost reduction program in Warstein-Belecke, Germany and has
reduced central headquarter costs considerably. In total, a headcount
reduction of more than 100 employees globally is expected.
The overcapacity in the POC market has resulted in an accelerated
amortization charge of intangibles of EUR43.3 million.
3W Power/ AEG PS will publish its full Q3 and nine month 2012 results
together with its 2013 outlook on November 13, 2012.
=- End of Announcement --
Characters: c. 2,000
About 3W Power/AEG Power Solutions:
3W Power S.A. (WKN A0Q5SX / ISIN GG00B39QCR01), based in Luxembourg, is the
holding company of AEG Power Solutions Group. The Group is headquartered in
Zwanenburg in the Netherlands. The shares of 3W Power are admitted to
trading on Frankfurt Stock Exchange (ticker symbol: 3W9).
AEG Power Solutions Group is a global provider of power electronic systems
and solutions for all industrial power supplies and offers one of the most
comprehensive product and service portfolios in the area of power
conversion and power controlling. The two complementary operating business
units Renewable Energy Solutions (RES) and Energy Efficiency Solutions
(EES) are serving customers worldwide. The RES product and service
portfolio consists of systems and solutions for solar power plants like
solar inverter, monitoring and control systems as well as power controller.
The EES product and service portfolio includes high performance
uninterruptable power supplies (USPs), industrial power controller and
DC-converter.
Thanks to its distinctive expertise, bridging both AC and DC power
technologies and spanning the worlds of both conventional and renewable
energy, the company creates innovative solutions for smart grids.
AEG PS' footprint is global including 17 subsidiaries and competence
centers around the world, employing 1,700 employees.
For more information go to: www.aegps.com
This communication does not constitute an offer or the solicitation of an
offer to buy, sell or exchange any securities of 3W Power. This
communication contains forward-looking statements which include, inter
alia, statements expressing our expectations, intentions, projections,
estimates, and assumptions. These forward-looking statements are based on
the reasonable evaluation and opinion of the management but are subject to
risks and uncertainties which are beyond the control of 3W Power and, as a
general rule, difficult to predict. The management and the company cannot
and do not, under any circumstances, guarantee future results or
performance of 3W Power and the actual results of 3W Power may materially
differ from the information expressed or implied in the forward-looking
statements. As a result, investors are cautioned against relying on the
forward-looking statements contained herein as a basis for their investment
decisions regarding 3W Power.
3W Power undertakes no obligation to update or revise any forward-looking
statement contained herein.
For more information, contact:
Investor Relations:
Katja Buerkle
Associate Director
AEG Power Solutions
Phone: +31 20 4077 854
Cell: +31 6 1095 9019
E-mail: investors@aegps.com
Media Relations:
Christiane L. Döhler
M. A. - Exec. MBA HSG
DOEHLER COMMUNICATIONS
Phone: +49 89 51616810
Cell: +49 175 2905054
E-mail: cd@doehler-communications.com
29.10.2012 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
=--------------------------------------------------------------------------
Language: English
Company: 3W Power S.A. / AEG Power Solutions
19, rue Eugène Ruppert
L-2453 Luxembourg
Grand Duchy of Luxembourg
Phone: +31 20 4077 863
Fax: +31 20 4077 875
E-mail: michael.julian@aegps.com
Internet: www.aegps.com
ISIN: GG00B39QCR01
WKN: A0Q5SX
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, München, Stuttgart
End of Announcement DGAP News-Service
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