DGAP-News: United Power Technology: Growth strategy boosts revenues
(firmenpresse) - DGAP-News: United Power Technology AG / Key word(s): Final Results
United Power Technology: Growth strategy boosts revenues
18.04.2013 / 07:57
---------------------------------------------------------------------
Financial Results 2012
United Power Technology: Growth strategy boosts revenues
- Revenues increased by 10.7 per cent to 111.1 million Euros
- EBIT increased from 11.9 million Euros to 15.3 million Euros
- Solid financial base with an equity ratio of 85.4 per cent
- Strong growth in commercial generator segment in line with group strategy
Eschborn, Germany, April 18, 2013 - United Power Technology Group, one of
the leading manufacturers of engine-driven power equipment in China,
achieved a double-digit revenue growth of 10.7 per cent, amounting to 111.1
million Euros (2011: 100.3 million Euros), exceeding its revenue and growth
target for the fiscal year 2012. Even though the company was facing a
challenging macroeconomic environment and a particularly difficult first
quarter, United Power increased its EBIT from 11.9 million Euros in 2011 to
15.3 million Euros. Compared to the previous year, net profit grew by 31.9
per cent to 12.6 million Euros.
In 2012 the commercial generator segment increased its revenues by 51.4 per
cent to 59 million Euros. By contrast, the residential generator segment
revenues dropped by 11.8 per cent to 46.2 million Euros. The development
reflects the company's strategy to grow sales of generators with
increasingly larger engines and was also partly influenced by effects of a
re-statement of the segment figures.
Particularly the challenging conditions in Europe led to a small decrease
of sales to European end customers by approximately 2 per cent. However the
decrease was compensated by strong growth of 22 per cent in North America
and in other new markets like Russia, Latin America or Asia-Pacific as well
as in the company's domestic market China, which increased by approximately
16 per cent.
The adjusted EBIT (adjusted for one-off IPO related expenses) remained
almost unchanged in 2012 at 16.5 million Euros due to a lower gross margin
and increased administrative expenses as a result of being a public listed
company. This represents an adjusted EBIT margin of 14.9 per cent, which is
slightly below the company's target due to a further unexpected Renminbi
appreciation towards the end of 2012.
Furthermore the company strengthened its equity position by 11.5 per cent
from 91.1 million Euros to 101.5 million Euros due to further retained
earnings. Therefore United Power was able to improve its equity ratio to
85.4 per cent (2011: 81.9 per cent) and is well financed to exploit future
growth opportunities. As of December 31, 2012 the cash position amounted to
31 million Euros, representing a growth of 14.6 per cent compared to 2011.
In light of the still uncertain economic conditions, the Management and
Supervisory Board made the decision not to pay a dividend for the fiscal
year 2012. Net profit 2012 and the current cash position shall be used as a
reserve for further investments in the corporate expansion as well as
potential M&A transactions. Nevertheless United Power intends to pay a
dividend to its shareholders in 2014, taking the general economic
conditions into account.
Outlook
United Power will continue to pursue its three-pronged strategy, which
comprises further geographic expansion and penetration, broadening the
range of engine-powered products and scaling up the size of its products in
order to further expand the commercial and industrial usage of its
products. Management expects that the company's commercial generator
segment will continue to grow at a rate exceeding that of the residential
generator segment over the current period in line with the strategy.
Furthermore Management anticipates that the outdoor power segment will grow
disproportionately faster this year.
The revenue and earnings development in 2013 will highly depend on the
further development of the Euro and debt crisis as well as on the fiscal
development in the USA. The company expects that the economic situation
will gradually improve throughout 2013. Under the premise that exchange
rates remain stable and the macroeconomic environment generally improves,
the management reckons with a revenue growth of approximately 8 per cent in
2013 and with an EBIT margin similar to 2012.
The full Annual report 2012 of United Power Technology AG is available
under http://www.unitedpower.de.com/en/ip_node/4.
About United Power Technology Group
United Power Technology Group designs, develops, manufactures and sells
engines and an extensive range 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 end users in 60 countries around 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
Yasmin Yaqub
T: +49 40 60 91 86 0
F: +49 40 60 91 86 60
E-Mail: yasmin.yaqub(at)kirchhoff.de
or visit www.unitedpower.de.com
Disclaimer concerning prognoses
This communication contains forward-looking statements. Forward-looking
statements are statements that are not historical facts instead they
reflect United Power's current views and expectations and the assumptions
underlying them about future events. Forward-looking statements are subject
to many risks and uncertainties. If any of such risks and uncertainties
materialise or if the assumptions underlying any of United Power's
forward-looking statements are proving to be incorrect, United Power's
actual results may be materially different from those expressed or implied
by such forward-looking statements. United Power does not intend or assume
any obligation to update these forward-looking statements. Any
forward-looking statement speaks only as of the date on which it is made.
End of Corporate News
---------------------------------------------------------------------
18.04.2013 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: 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
---------------------------------------------------------------------
207351 18.04.2013
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Bereitgestellt von Benutzer: EquityStory
" alt="Globex Mining: First Phase Chibougamau Drilling and Geophysical Surveys Completed
Datum: 18.04.2013 - 07:57 Uhr
Sprache: Deutsch
News-ID 250222
Anzahl Zeichen: 6338
contact information:
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 300 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"DGAP-News: United Power Technology: Growth strategy boosts revenues"
steht unter der journalistisch-redaktionellen Verantwortung von
United Power Technology AG (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
