DGAP-News: United Power Technology confirms outlook after a strong second quarter
(firmenpresse) - DGAP-News: United Power Technology AG / Key word(s): Quarter Results
United Power Technology confirms outlook after a strong second quarter
14.08.2012 / 08:05
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- Q2 2012 revenues up 8.9% year-on-year
- In Q2 2012 EBIT increased by 38.1% compared to Q2 2011
- Outlook for sales and EBIT margin 2012 confirmed
Eschborn, Germany, August 14, 2012 - United Power Technology Group, one of
the leading manufacturers of engine-driven power equipment in China, was
able to more than make up for the weaker first quarter 2012 and achieved
strong sales in the second quarter of 2012. Q2 revenues grew by 8.9% to EUR
32.2 million and EBIT increased by 38.1% (16.4% on an adjusted basis) to
EUR 6.3 million compared to the same period of last year. The adjusted Q2
EBIT margin increased from 18.2% to 19.4%. As a result revenues for the
first six months 2012 amounted to EUR 51.6 million (H1 2011: 50.6 million)
and EBIT to EUR 8.6 million (H1 2011: EUR 8.1 million).
The strengthening of the company's sales activities showed first positive
effects in the second quarter of 2012. As a result of United Power's
efforts to further increase geographic diversification in order to counter
the current weakness of the sales market in Europe and China, the company
received a series of large orders from the US market for power generators.
A total order volume of around USD 13 million was placed in Q2 2012.
'Contrary to our expectations expressed in our first quarter 2012 report,
we were able to more than make up for the weaker first quarter and were
able to register an increase in revenues for the first half this year
compared to the same period last year due to our strong sales from April to
June,' states Xu Wu, CEO of United Power Technology AG.
Compared to the first half of 2011, the company increased its revenue in
the region North America from EUR 6.2 million to EUR 11.2 million in the
first six months. The strong sales in the US reflect the growing importance
of the US market for United Power.
Cash and cash equivalents increased by 18.7% from EUR 27.0 million at the
end of fiscal year 2011 to EUR 32.0 million in the first half of 2012. This
is mainly due to a large increase in operating cash flow of EUR 9.5 million
(H1 2011: EUR 2.0 million).
Total equity increased by 11.8% from EUR 91.5 million at the end of 2011 to
EUR 102.3 million at the end of the first half of 2012. The equity to total
assets ratio remains at a high level of 81.3% as of 30 June 2012.
United Power is still facing a challenging global economic environment.
This will also affect in particular the company's two largest markets by
end customer, Europe and China, in the second half of 2012. 'However, we
have seen that our continuous sales and marketing efforts show initial
positive results. Our margins are strongly related to revenue generation,
therefore assuming that we achieve the 10% revenue growth for the year we
expect a full year 2012 EBIT margin somewhat below the adjusted EBIT margin
for 2011,' states Xu Wu. This assumes no further material changes in the
EUR:RMB exchange rate and an improving economic environment with
stabilization in the eurozone as well as improving economic environment in
China.
About United Power Technology Group
United Power Technology Group designs, develops, manufactures and sells
engines and an extensiverange of engine-driven power equipment, including
generators, outdoor power equipment, as well as components. Its major
products comprise residential as well as commercial generators, which are
currently delivered to more than 50 countries in the world. The operational
companies of United Power Technology Group are incorporated under the laws
of the People's Republic of China and located in Fuzhou and Shanghai,
China.
For further requests please contact:
Kirchhoff Consult AG
Jens Hecht
T: +49 40 60 91 86 0
F: +49 40 60 91 86 60
E-Mail: jens.hecht(at)kirchhoff.de
or visit www.unitedpower.de.com
Disclaimer
This publication constitutes neither an offer to sell nor a solicitation to
buy securities of United Power Technology AG. The shares have already been
sold.
This document is not an offer of securities for sale or a solicitation of
an offer to purchase securities in the United States. The shares of United
Power Technology AG (the 'Shares') have not been registered under the U.S.
Securities Act of 1933, as amended (the 'Securities Act') and may not be
offered or sold in the United States unless registered under the Securities
Act or pursuant to an exemption from such registration. There will be no
public offering of the Shares in the United States and the Shares will not
be registered under the Securities Act.
This document is only being distributed to and is only directed at (i)
persons who are outside the United Kingdom or (ii) to investment
professionals falling within Article 19(5) of the Financial Services and
Markets Act 2000 (Financial Promotion) Order 2005 (the 'Order') or (iii)
high net worth entities, and other persons to whom it may lawfully be
communicated, falling within Article 49(2)(a) to (d) of the Order (all such
persons together being referred to as 'relevant persons'). The Shares are
only available to, and any invitation, offer or agreement to subscribe,
purchase or otherwise acquire such securities will be engaged in only with,
relevant persons. Any person who is not a relevant person should not act or
rely on this document or any of its contents.
End of Corporate News
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14.08.2012 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: United Power Technology AG
Mergenthalerallee 10-12
65760 Eschborn
Germany
Phone: +49 6196 400804
Fax: +49 6196 400910
E-mail: oliver.kuan(at)unitedpower.cn;verena.rauch(at)kirchhoff.de
Internet: www.unitedpower.de.com
ISIN: DE000A1EMAK2
WKN: A1EMAK
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
München, Stuttgart
End of News DGAP News-Service
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181539 14.08.2012
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