DGAP-News: United Power Technology AG: Strong financial results in 2010
(firmenpresse) - DGAP-News: United Power Technology AG / Key word(s): Final Results
United Power Technology AG: Strong financial results in 2010
15.04.2011 / 10:30
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- Revenue increased by 59%
- EBIT margin of 19.1%
- Expansion of production facilities and sales network
Eschborn, Germany, April 15, 2011 - United Power Technology Group, one of
the leading manufacturers of engine-driven power equipment in China, has
continued its highly profitable growth and achieved strong financial
results in 2010: The Group's revenue increased by 59% to 84.6 million
(EUR53.1 million EUR in 2009). Operating income (EBIT) for the full year
2010 increased from 10.2 million EUR in 2009 to 16.1 million EUR in 2010.
This represents an EBIT margin of 19.1% in 2010 (2009: 19.3%). Net profit
reached 13.7 million EUR (9.8 million EUR in 2009). With an equity ratio of
76.5%, United Power is optimally positioned for further dynamic growth.
'During the last year we successfully executed our international growth
strategy and reached several milestones. A new factory building has been
completed on our additional approximately 37,000 sqm land which was
acquired to expand our production and we are now in the process of
installing new production lines. This year we expect to increase our annual
production capacity to around 1,000,000 units and we continue to diversify
our product mix towards power equipment with larger engines', states John
Huang, Co-CEO of United Power Technology Group. He continues: 'Furthermore,
we entered into a cooperation with major European retailers such as
Kingfisher, OBI and Carrefour.'
In 2010 United Power launched new testing laboratories to facilitate its
development process. Further, in December 2010, the company opened a sales
subsidiary in Shanghai. A French sales office to better service the
European customer is currently being established. As of 31 December 2010,
the Group employed 789 people.
United Power Technology AG considered a listing of its shares on the Prime
Standard of the Frankfurt Stock Exchange (Deutsche Boerse) at the beginning
of November 2010. The IPO was postponed and Management plans to take up the
IPO plans again in the course of 2011.
About United Power Technology Group
United Power Technology Group designs, develops, manufactures and sells an
extensive range of engine-driven power equipment, including generators,
outdoor power equipment and components such as engines. Its major products
comprise residential as well as commercial generators which are currently
delivered to more than 45 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 information please contact:
Kirchhoff Consult AG
Dr Kay Baden
phone: +49 40 60 91 86 39
fax: +49 40 60 91 86 60
baden(at)kirchhoff.de
or visit the company's website: http://www.unitedpower.de.com/
Disclaimer
This publication constitutes neither an offer to sell nor an invitation to
buy securities. The shares in United Power Technology AG (the 'Shares') may
not be offered or sold in the United States or to or for the account or
benefit of 'U.S. persons' (as such term is defined in Regulation S under
the U.S. Securities Act of 1933, as amended (the 'Securities Act')).
Furthermore, the shares may not be offered or sold in Japan or to or for
the account or benefit of Japanese citizens.
End of Corporate News
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15.04.2011 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: United Power Technology AG
Mergenthalerallee 10-12
65760 Eschborn
Deutschland
Phone: +49 6196 400804
Fax: +49 6196 400910
E-mail: it(at)unitedpower.de.com
Internet: www.unitedpower.de.com
ISIN: DE000A1EMAK2
WKN: A1EMAK
Listed: Regulierter Markt in Frankfurt (Prime Standard)
Notierung vorgesehen / intended to be listed
End of News DGAP News-Service
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120126 15.04.2011
Datum: 15.04.2011 - 10:30 Uhr
Sprache: Deutsch
News-ID 33801
Anzahl Zeichen: 0
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Kategorie:
Business News
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