DGAP-News: Heliocentris Energy Solutions AG: Heliocentris publishes Annual Report 2011
(firmenpresse) - DGAP-News: Heliocentris Energy Solutions AG / Key word(s): Final
Results
Heliocentris Energy Solutions AG: Heliocentris publishes Annual Report
2011
03.05.2012 / 16:12
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Heliocentris publishes Annual Report 2011
Corporate News
* Financial year 2011 significantly shaped by the acquisition and
subsequent restructuring and integration of P21
* Decrease in sales to EUR3.3 million at a loss of EUR6.4 million
* Six-fold increase of order backlog by end of the year to EUR2.9 million
* With tripling of sales dynamic development expected in 2012
* Entry into industrial business accomplished
Berlin, 3 May 2012 - Heliocentris Energy Solutions AG, a specialist in
autonomous energy supply and energy efficiency solutions, today announced
its results, in accordance with the German Commercial Code, for the
financial year 2011.
The financial year 2011 was strongly shaped by the acquisition of assets,
parts of the workforce and the market-ready industrial solutions of the
insolvent P21 GmbH in May 2011. The challenges of the subsequent
restructuring and integration into the Heliocentris Group have led to a
reallocation of resources of the training business, what is clearly
reflected in the decrease of sales. In contrast, the Heliocentris Group now
has a very attractive and marketable range of industrial solutions, which
should already in 2012 lead to more than a tripling of sales.
2011 financial and operating highlights:
* Decline in sales by 19% to EUR3.3 million (2010: EUR4.1 million) at a
simultaneous increase of order backlog from EUR0.5 million (2010) to EUR2.9
million.
* Total income of EUR5.1 million matches vaguely the previous year's level
(2010: EUR5.1 million)
* Gross profit of EUR2.3 million (2010: EUR2.5 million) is 44% (2010: 49%)
of total income
* The net loss of EUR-6.4 million (2010: EUR-3,0 million) is significantly
influenced by the takeover
* Acquisition of assets of the insolvent P21 GmbH
* NTEC, technology arm of Kuwait Investment Authority (KIA) becomes
shareholder
* Announcement of two large-scale industrial projects in the United Arab
Emirates and in Mozambique
* Ayad Abul-Ella takes on his role of CEO of Heliocentris from 1 September,
Dr. Henrik Colell (until then CEO) takes on the role of the company's CTO
* Cumulated sales and order backlog end of first quarter 2012 at EUR4.5
million - already significantly above all of last year's sales
Ayad Abul-Ella, CEO of Heliocentris AG commented: 'As so often with company
takeovers, the integration and realignment cannot be achieved without
affecting the current business. Decisive for success is the speed and the
consistency of the integration and the acceleration of business in its new
structure. At Heliocentris we completed this process swiftly and
consistently in the second half of 2011, so that we were already rewarded
with sales and orders, way above last year's figures, in the first months
of 2012. Accordingly, we expect more than a tripling of sales for 2012 thus
exceeding the threshold of ten million euros!'
After years of continuous sales growth the consolidated sales for the
financial year 2011 shows a decline of 19% to EUR3.3 million (2010: EUR4.1
million). This decline is for the most part due to the reallocation of
resources for the takeover, restructuring and integration of P21. Although
these activities led to two major orders in Dubai and Mozambique in the
second half of the year, they could not be recorded as sales in 2011. This
is also reflected by the significantly increased order backlog of EUR2.9
million compared with the order backlog of the previous year of EUR0.5
million.
Other operating income exceeded with EUR1.1 million (2010: EUR0.8 million)
last year's amount. Therein included are EUR0.4 million grants as well as
EUR0.5 million capitalised assets.
Operating expenses for the financial year increased considerably to EUR8.6
million (2010: EUR5.5 million). This increase is predominantly due to the
rise of personnel expenses by EUR1.4 million to EUR4.9 million (2010:
EUR3.5 million). As at 31 December 2011 the company employed 82 permanent
staff (2010: 65 staff). The gain of 17 staff substantiated essentially from
the takeover of P21 (16 staff). Other expenses climbed to EUR3.7 million
(2010: EUR2.0 million) and include EUR0.8 million deal and restructuring
expenses of the acquisition of assets of the insolvent P21 GmbH (without
personnel expenses).
The net loss of the financial year increased clearly from EUR-3.0 million
to EUR-6.4 million in light of the P21 takeover. This is essentially the
result of the decline in sales, the operating costs of P21 not offset by
any significant sales and the deal and restructuring costs.
Dr. Andras Gosztonyi, CFO of Heliocentris AG commented: 'The year 2011 was
on the one hand due the decline in sales and the substantial loss a painful
year. On the other hand we achieved the entry into the industrial business
thanks to the takeover of P21. The highly scalable business is already
visible as incoming orders and sales show. By the end of the first quarter
our group accumulated already a sales and order backlog of totalling EUR4.5
million, which is already significantly higher than the entire previous
year's sales!'
As at 31 December 2011, Heliocentris had EUR3.1 million (2010: EUR3.1
million) in liquid funds.
The publication of the English version of the Annual Report is scheduled
for 7 May 2012.
About Heliocentris Energy Solutions AG
Heliocentris specialises in autonomous energy supply and energy efficiency
solutions with the aim of replacing diesel generators with 'zero-emission'
products. The company, which was founded in Berlin in 1995, develops and
markets systems and turnkey solutions for customers in industry and science
and has three business areas: Energy Efficiency, Clean Energy and Didactic.
The 'Energy Efficiency' area specialises in energy efficiency, monitoring
and management solutions for autonomous energy supply solutions. With the
existing solutions, diesel consumption in applications such as mobile phone
network base stations can be reduced by up to 50%, while the cost of
operating such facilities can be reduced by up to 70%. The solutions are
being commercially rolled out in Asia, Africa and the Middle East. The
'Clean Energy' area focuses on 'zero-emission' solutions for autonomous
energy supply, including solutions for supplying electricity to off-grid
applications such as monitoring stations, telecommunications facilities or
self-sufficient houses. The core competency here is the efficient
hybridisation of energy generators such as, solar and wind or even diesel
generators with energy storage such as batteries and the own hydrogen fuel
cell based storage solutions based on our scalable energy management
solutions. Heliocentris has already successfully demonstrated its expertise
in this area in numerous projects with renowned partners across the world.
For over 10 years now, the 'Didactic' area has been offering a range of
learning and research systems for fuel cell and solar hydrogen technology
and other regenerative energy technology. Customers include training
centres, research institutes and industry. The comprehensive range of
products and services makes Heliocentris one of the world's leading
companies in its field. With a subsidiary in Vancouver, offices in Dubai
and Singapore and customers in more than 60 countries, Heliocentris iswell
positioned internationally. The Heliocentris Group currently has 90
employees. Further information is available at: www.heliocentris.com.
Disclaimer
This press release contains forward-looking statements that are based on
current assumptions and forecasts of the management of Heliocentris Energy
Solutions AG. Known and unknown risks, uncertainties and other factors
could lead to material differences between the forward-looking statements
given here and the actual development, in particular the results, financial
situation and performance of our Company. The Company assumes no liability
to update these forward-looking statements or to conform them to future
events or developments. The information in this press release does not
constitute an offer of securities for sale or a solicitation of an offer to
purchase securities in the United States or any other country.
Press contact
Dr. András Gosztonyi
CFO / Managing Director
Heliocentris Energy Solutions AG
+49-(0)30-340601-560
A.Gosztonyi(at)Heliocentris.com
End of Corporate News
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Language: English
Company: Heliocentris Energy Solutions AG
Rudower Chaussee 29
12489 Berlin
Germany
Phone: +49-(0)30 63 92 63 25
Fax: +49-(0)30 63 92 63 29
E-mail: info(at)heliocentris.com
Internet: www.heliocentris.com
ISIN: DE000A1MMHE3
WKN: A1MMHE
Listed: Freiverkehr in Berlin, Stuttgart; Entry Standard in
Frankfurt
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