PRESS RELEASE: 3W Power/AEG Power Solutions reports preliminary unaudited results for 2011
09.02.2012
DGAP-News: 3W Power S.A. / AEG Power Solutions / Key word(s):
Preliminary Results
3W Power/AEG Power Solutions reports preliminary unaudited results for
2011
09.02.2012 / 07:00
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February 9, 2012
3W Power/AEG Power Solutions reports preliminary unaudited results for 2011
(in EUR million) 2010 2011 ? in % Q4 10 Q4 11 ? in %
Orders 371.1 403.7 8.8% 127.7 79.5 -37.7%
Revenue 306.0 428.2 39.9% 94.9 125.9 32.7%
EBITDA -23.9 53.1 -24.4 12.5
EBITDA Margin -7.8% 12.4% -25.7% 9.9%
- AEG Power Solutions delivers on Agenda 2012: revenue growth of nearly
40% year-on-year to EUR428.2 million in 2011
- EBITDA margin of 12.4%
- Order intake up 8.8% year-on-year with slow Q4
- Full year outlook for 2012 will be revisited with the release of Q1
figures due to current economic uncertainty
- Q1 2012 revenue performance expected to be below Q1 2011 levels
Luxembourg/ Zwanenburg, The Netherlands - February 9, 2012 - 3W Power, the
holding company of AEG Power Solutions (AEG PS) today issued preliminary,
unaudited results for 2011, achieving its sales and earnings targets for
fiscal year 2011. Revenue for the year was up 39.9% at EUR428.2 million
(2010: EUR306.0 million), while EBITDA reached EUR53.1 million (2010: loss
of EUR23.9 million) with an EBITDA margin of 12.4%. Order intake was up
8.8% year-on-year albeit slow in Q4 due to delays of solar projects in
certain geographic markets.
Renewable Energy Solutions (RES) revenue came to EUR224.0 million compared
to EUR110.2 million in 2010. The revenue growth of this segment was driven
by demand within the solar value chain, from the upstream manufacturing of
polysilicon (power controllers) to the downstream installation of solar
power generation plants (solar inverter solutions and monitoring &
control). The business benefited from a strong project pipeline in East
Asia, Eastern Europe and first solar wins in India. The anticipated
disposal of the EMED solar farms in Italy is expected to take place in Q1.
In Energy Efficiency Solutions (EES), the last quarter was, as anticipated,
the strongest in terms of revenue. On a year-on-year basis, EES revenue was
up 4% to EUR204.2 million. EES recorded its third consecutive quarter of
positive EBITDA and was EBITDA positive for the fiscal year, aided by
Agenda 2012 actions. The Telecom business and in particular the Converter
activities remained difficult.
'We are pleased with our performance in 2011', commented Horst J. Kayser,
CEO of AEG Power Solutions. 'We reached our revenue target for the year
and achieved a double digit EBITDA margin.'
Due to the general economic uncertainty, which impacts customers' project
financing, long term forecasting and outlook for 2012 will be revisited
with the release of Q1 figures. The Company continues to anticipate growth
in its key markets but cannot exclude the possibility that further
deterioration in economic conditions will impact its growth prospects.
Traditionally the first quarter tends to be relatively weak and the Company
expects Q1 2012 revenue performance to be below Q1 2011 levels. As part of
its annual audit, the Company is conducting a review of its goodwill and
intangible assets. Any adjustments to these balances do not affect EBITDA
and will be included in the annual report for 2011.
The Board of Directors of 3W Power/AEG Power Solutions will present full Q4
2011 results and consolidated financial statements for fiscal year 2011 on
March 28, 2012. The 2011 annual report will then be available for download
at www.aegps.com in the Investor Relations section.
=- End of Announcement -
Characters: c. 3,200
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) and the warrants
are traded on NYSE Euronext, Amsterdam (ticker symbol: 3WPW).
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 1,650 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:
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
Investor Relations:
Katja Buerkle
Associate Director
AEG Power Solutions
Phone: +31 20 4077 854
Cell: +31 6 1095 9019
E-mail: investors@aegps.com
End of Corporate News
=--------------------------------------------------------------------
09.02.2012 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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
Weerenweg 29
1161 AH Zwanenburg
Netherlands
Phone: +31 20 4077 800
Fax: +31 20 4077 801
E-mail: claire.pairault@aegps.com
Internet: www.aegps.com
ISIN: GG00B39QCR01
WKN: A0Q5SX
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, München, Stuttgart
End of News DGAP News-Service
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155927 09.02.2012
DGAP-News: 3W Power S.A. / AEG Power Solutions / Key word(s):
Preliminary Results
3W Power/AEG Power Solutions reports preliminary unaudited results for
2011
09.02.2012 / 07:00
=--------------------------------------------------------------------
February 9, 2012
3W Power/AEG Power Solutions reports preliminary unaudited results for 2011
(in EUR million) 2010 2011 ? in % Q4 10 Q4 11 ? in %
Orders 371.1 403.7 8.8% 127.7 79.5 -37.7%
Revenue 306.0 428.2 39.9% 94.9 125.9 32.7%
EBITDA -23.9 53.1 -24.4 12.5
EBITDA Margin -7.8% 12.4% -25.7% 9.9%
- AEG Power Solutions delivers on Agenda 2012: revenue growth of nearly
40% year-on-year to EUR428.2 million in 2011
- EBITDA margin of 12.4%
- Order intake up 8.8% year-on-year with slow Q4
- Full year outlook for 2012 will be revisited with the release of Q1
figures due to current economic uncertainty
- Q1 2012 revenue performance expected to be below Q1 2011 levels
Luxembourg/ Zwanenburg, The Netherlands - February 9, 2012 - 3W Power, the
holding company of AEG Power Solutions (AEG PS) today issued preliminary,
unaudited results for 2011, achieving its sales and earnings targets for
fiscal year 2011. Revenue for the year was up 39.9% at EUR428.2 million
(2010: EUR306.0 million), while EBITDA reached EUR53.1 million (2010: loss
of EUR23.9 million) with an EBITDA margin of 12.4%. Order intake was up
8.8% year-on-year albeit slow in Q4 due to delays of solar projects in
certain geographic markets.
Renewable Energy Solutions (RES) revenue came to EUR224.0 million compared
to EUR110.2 million in 2010. The revenue growth of this segment was driven
by demand within the solar value chain, from the upstream manufacturing of
polysilicon (power controllers) to the downstream installation of solar
power generation plants (solar inverter solutions and monitoring &
control). The business benefited from a strong project pipeline in East
Asia, Eastern Europe and first solar wins in India. The anticipated
disposal of the EMED solar farms in Italy is expected to take place in Q1.
In Energy Efficiency Solutions (EES), the last quarter was, as anticipated,
the strongest in terms of revenue. On a year-on-year basis, EES revenue was
up 4% to EUR204.2 million. EES recorded its third consecutive quarter of
positive EBITDA and was EBITDA positive for the fiscal year, aided by
Agenda 2012 actions. The Telecom business and in particular the Converter
activities remained difficult.
'We are pleased with our performance in 2011', commented Horst J. Kayser,
CEO of AEG Power Solutions. 'We reached our revenue target for the year
and achieved a double digit EBITDA margin.'
Due to the general economic uncertainty, which impacts customers' project
financing, long term forecasting and outlook for 2012 will be revisited
with the release of Q1 figures. The Company continues to anticipate growth
in its key markets but cannot exclude the possibility that further
deterioration in economic conditions will impact its growth prospects.
Traditionally the first quarter tends to be relatively weak and the Company
expects Q1 2012 revenue performance to be below Q1 2011 levels. As part of
its annual audit, the Company is conducting a review of its goodwill and
intangible assets. Any adjustments to these balances do not affect EBITDA
and will be included in the annual report for 2011.
The Board of Directors of 3W Power/AEG Power Solutions will present full Q4
2011 results and consolidated financial statements for fiscal year 2011 on
March 28, 2012. The 2011 annual report will then be available for download
at www.aegps.com in the Investor Relations section.
=- End of Announcement -
Characters: c. 3,200
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) and the warrants
are traded on NYSE Euronext, Amsterdam (ticker symbol: 3WPW).
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 1,650 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:
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
Investor Relations:
Katja Buerkle
Associate Director
AEG Power Solutions
Phone: +31 20 4077 854
Cell: +31 6 1095 9019
E-mail: investors@aegps.com
End of Corporate News
=--------------------------------------------------------------------
09.02.2012 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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
Weerenweg 29
1161 AH Zwanenburg
Netherlands
Phone: +31 20 4077 800
Fax: +31 20 4077 801
E-mail: claire.pairault@aegps.com
Internet: www.aegps.com
ISIN: GG00B39QCR01
WKN: A0Q5SX
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, München, Stuttgart
End of News DGAP News-Service
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155927 09.02.2012
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