DGAP-News: United Power Technology AG continued on its growth path in H1 2011
(firmenpresse) - DGAP-News: United Power Technology AG / Key word(s): Preliminary
Results/Half Year Results
United Power Technology AG continued on its growth path in H1 2011
12.08.2011 / 08:30
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- Revenues up 22.8 percent to EUR 50.6 million
- Adj. EBIT margin reaches 19 percent
Eschborn, Germany, August 12, 2011 - United Power Technology Group, one of
the leading manufacturers of engine-driven power equipment in China,
continued on its growth path in the first six months of 2011: The company
realized revenues of EUR 50.6 million, exceeding last year's first half
revenues by 23 percent. Measured in RMB, revenues increased by 27 percent
year on year. Revenue growth continued to be constrained by production
capacity during the first half of 2011. This situation is expected to be
gradually alleviated during the course of the second half of the year with
production capacity increasing.
Adjusted for one-off, non-recurring items* in relation to the IPO, EBIT
increased by 13 percent to EUR 9.8 million, representing an adjusted EBIT
margin of 19 percent (H1 2010: 21 percent). The adjusted EBIT margin
declined as anticipated due to increased expenses in relation to general
strengthening of administration and R&D activities which is in line with
United Power's strategy and the accelerating RMB appreciation which over
time however United Power is able to pass on to its customers to a large
extent.
'We are very satisfied with our profitable growth in the first six months
of this year. Since production capacity is a bottleneck for further growth
of United Power, we are investing heavily in capacity expansion. As of
mid-July, we have already increased our production capacity by 20 percent
by completing three new production lines,' comments Xu Wu, Co-CEO of United
Power AG. 'Considering our half year results, the capacity expansion and
the new contracts we signed recently, we are very optimistic for United
Power AG's future development.'
United Power will publish the full H1 2011 report on 29 August 2011.
* One-off, non-recurring items in relation to the IPO amounted to EUR 130
thousand in H1 2010 and EUR 1.8 million in H1 2011
About United Power Technology Group
United Power Technology Group designs, develops, manufactures and sells
engines as its core technology, 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 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 requests please contact:
Kirchhoff Consult AG
Dr. Kay Baden
T: +49 40 60 91 86 0
F: +49 40 60 91 86 60
E-Mail: baden(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.
This document has been delivered to you on the basis that you are a person
into whose possession this document may be lawfully delivered in accordance
with the laws of the jurisdiction in which you are located and you may not
deliver this document to any other person and you agree not to copy or
retransmit this document or its contents. In particular, this document may
not be forwarded or retransmitted to any person located in the United
States, Canada, the People's Republic of China or Japan.
The information in this document is subject to change and does not purport
to be a complete description of new shares or the offer. The syndicate
banks accept no liability whatsoever for any direct or consequential loss
arising from the use of this document. To the maximum extent permitted by
law, the syndicate banks and their respective directors, officers and
employees shall have no liability whatsoever for any loss or liability of
any kind arising in respect of the information contained, or not being
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directors, officers and employees may, from time to time, have long or
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will receive fees for acting in that capacity.
End of Corporate News
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12.08.2011 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,
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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;janina.wismar(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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135476 12.08.2011
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Datum: 12.08.2011 - 08:30 Uhr
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