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27.05.2016 17:29:06
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DGAP-News: Heliocentris Energy Solutions AG
DGAP-News: Heliocentris publishes financial statements 2015
27.05.2016 / 17:29 The issuer is solely responsible for the content of this announcement.
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Heliocentris publishes financial statements 2015
- Sales growth by 17% to EUR 22.1m mainly driven by turnkey energy solutions for telecom base stations
- EBITDA decreases by 46% to minus EUR 13.8m due to significant non- recurring costs from the Re-IPO as well as intensified investments in Heliocentris' proprietary connecTTM software and GenStoreTM hydrogen battery technology
- Footprint in the core markets of Myanmar and the Middle East region significantly expanded. Exploitation of new markets in South East Asia and Africa well on track.
Berlin, 27 May 2016 - Heliocentris Energy Solutions AG (ISIN DE000A1MMHE3) which is listed in the Prime Standard of the Frankfurt Stock Exchange today publishes its financial statements and the financial statements of the group, each with an unqualified auditor's opinion.
Development of revenue and result
In 2015 Heliocentris group generated revenues of EUR 22.1m, an increase of 17% over 2014 (previous year: EUR 18.9m). Despite this increase in sales, the revenues in 2015 were below expectations due to less revenues from sales of fuel cell and energy management systems to OEM customers, which was not offset through additional sales of turnkey energy solutions.
The gross profit from revenue of the group decreased by EUR 2.9m, from EUR 231k profit in the business year 2014 to a loss of EUR 2.7m in the business year 2015, equal to minus 12.7% on revenue. In this context it should be noted that depreciation on capitalized development costs of products sold, purchased intangible assets and other amortization, previously shown as a separate item in the income statement, are now shown for the first time in the cost of sales.
The variable costs of sales in the group increased by EUR 2.9m, from EUR 14.7m in 2014 to EUR 17.6m in 2015, leading to a slightly reduced margin of 21% in 2015 compared to 23% in 2014.
In the segment Academia the margin was 38 % (previous year: 37%), while in the Industry segment, margin from revenue was 17% (previous year: 21%). The decrease in margin was mainly based on start-up costs for service operations in Myanmar and the end-of-life sales of 1st generation energy management systems.
The indirect or fixed costs of sales increased by EUR 3.2m, from EUR 4.0m in 2014 to EUR 7.2m in 2015, which was primarily due to the depreciation charges which were EUR 2.7m higher than in the previous year.
The profit before tax, interest and depreciation was minus EUR 13.8m (previous year: minus EUR 9.5m). The main reasons for this were:
- significant one-off costs from the capital increase and Stock Exchange segment change in May 2015
- additional costs for investments in connecTTM software for Smart Analytics and Power Management as well as in the GenStoreTM hydrogen battery product line
- start-up costs from build-up of service operations in Myanmar.
The loss in 2015 increased by EUR 9.0m, from EUR 9.8m in 2014 to EUR 18.8m, mainly due to the reasons described above.
Balance sheet
Cash and cash equivalents reduced by EUR 258k, from EUR 2.3m as at 31 December 2014 to EUR 2.0m as at 31 December 2015. Cash flow from operations changed by minus EUR 4.9m, from minus EUR 10.9m in 2014 to minus EUR 15.8m, driven mainly by the increase of the loss from 2014 to 2015. The equity ratio of the group remained virtually the same, with 37% as per 31 December 2015 compared to 36% per 31 December 2014. To secure its growth strategy Heliocentris Energy Solutions AG executed a cash capital increase on 27 April 2016 with gross proceeds of EUR 2.6m from the issue.
Further developments in 2015 and outlook 2016
In 2015 Heliocentris significantly expanded its positioning in the core markets Myanmar and the Middle East region. Heliocentris' solutions are meanwhile successfully in use at all three mobile network operators in Myanmar - Telenor, Ooredoo and MPT - as well as both mobile network operators in the United Arab Emirates - Etisalat and du -. In total meanwhile more than 3,000 mobile base stations worldwide are equipped with Heliocentris' energy management systems and solutions. Furthermore, the developments of new markets in South East Asia and Africa is well on the way with first-time installations at more than 15 customers carried out in 2015.
Based on this progress the Management Board expects significant increases in revenues for 2016 and 2017. In addition, the cost reduction measures announced earlier this year as part of the roadmap to profitability program were successfully started. Due to the expected increases in revenues combined with the reduced fix cost burn-rate, the company expects a significantly improved result for 2016, mainly driven by the second half of the year, as well as achieving operating break even in 2017.
Detailed information to the 2015 financial statements is available on the homepage of Heliocentris Energy Solutions AG under www.heliocentris.com in the investor relations area. The publication of the complete annual report follows end of May 2016.
About Heliocentris Energy Solutions AG
Heliocentris Energy Solutions AG is a leading technology provider of energy management systems and hybrid power solutions for distributed stationary industrial applications, as well as of products and solutions for education, training and applied research purposes in the field of fuel cells, solar, wind and hydrogen energy technologies. Heliocentris' energy management systems creates intelligent, remote controlled, reliable and highly efficient hybrid energy solutions from diverse components such as batteries, photovoltaic modules, conventional diesel generators and fuel cells. The solutions reduce CO2 emissions by an average of 50% and operating costs by up to 60% compared to conventional energy solutions for mobile telecommunications base stations. Heliocentris' fuel cell systems ensure uninterrupted power supply with long runtimes to critical infrastructure such as TETRA base stations, back-bone sites in mobile networks and server stations. The Company is headquartered in Berlin with offices in Munich, Stuttgart, Crespina, Dubai, Yangon, Vancouver and Johannesburg. Heliocentris AG's shares are traded in the Prime Standard of the Frankfurt Stock Exchange under the security identification number A1MMHE. Further information is available at www.heliocentris.com.
Contact Heliocentris Energy Solutions AG D-12489 Berlin Rudower Chaussee 29 Tel. +49 (0)30 340 601 500 Fax +49 (0)30 340 601 599 IR@Heliocentris.com
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27.05.2016 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
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Language: English Company: Heliocentris Energy Solutions AG Rudower Chaussee 29 12489 Berlin Germany Phone: +49 (0)30 340 601 500 Fax: +49 (0)30 340 601 599 E-mail: ir@heliocentris.com Internet: www.heliocentris.com ISIN: DE000A1MMHE3 WKN: A1MMHE Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Stuttgart, Tradegate Exchange End of News DGAP News Service ---------------------------------------------------------------------------
467133 27.05.2016
DGAP-News: Heliocentris Energy Solutions AG / Key word(s): Final Results Heliocentris publishes financial statements 2015
27.05.2016 / 17:29 The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
Heliocentris publishes financial statements 2015
- Sales growth by 17% to EUR 22.1m mainly driven by turnkey energy solutions for telecom base stations
- EBITDA decreases by 46% to minus EUR 13.8m due to significant non- recurring costs from the Re-IPO as well as intensified investments in Heliocentris' proprietary connecTTM software and GenStoreTM hydrogen battery technology
- Footprint in the core markets of Myanmar and the Middle East region significantly expanded. Exploitation of new markets in South East Asia and Africa well on track.
Berlin, 27 May 2016 - Heliocentris Energy Solutions AG (ISIN DE000A1MMHE3) which is listed in the Prime Standard of the Frankfurt Stock Exchange today publishes its financial statements and the financial statements of the group, each with an unqualified auditor's opinion.
Development of revenue and result
In 2015 Heliocentris group generated revenues of EUR 22.1m, an increase of 17% over 2014 (previous year: EUR 18.9m). Despite this increase in sales, the revenues in 2015 were below expectations due to less revenues from sales of fuel cell and energy management systems to OEM customers, which was not offset through additional sales of turnkey energy solutions.
The gross profit from revenue of the group decreased by EUR 2.9m, from EUR 231k profit in the business year 2014 to a loss of EUR 2.7m in the business year 2015, equal to minus 12.7% on revenue. In this context it should be noted that depreciation on capitalized development costs of products sold, purchased intangible assets and other amortization, previously shown as a separate item in the income statement, are now shown for the first time in the cost of sales.
The variable costs of sales in the group increased by EUR 2.9m, from EUR 14.7m in 2014 to EUR 17.6m in 2015, leading to a slightly reduced margin of 21% in 2015 compared to 23% in 2014.
In the segment Academia the margin was 38 % (previous year: 37%), while in the Industry segment, margin from revenue was 17% (previous year: 21%). The decrease in margin was mainly based on start-up costs for service operations in Myanmar and the end-of-life sales of 1st generation energy management systems.
The indirect or fixed costs of sales increased by EUR 3.2m, from EUR 4.0m in 2014 to EUR 7.2m in 2015, which was primarily due to the depreciation charges which were EUR 2.7m higher than in the previous year.
The profit before tax, interest and depreciation was minus EUR 13.8m (previous year: minus EUR 9.5m). The main reasons for this were:
- significant one-off costs from the capital increase and Stock Exchange segment change in May 2015
- additional costs for investments in connecTTM software for Smart Analytics and Power Management as well as in the GenStoreTM hydrogen battery product line
- start-up costs from build-up of service operations in Myanmar.
The loss in 2015 increased by EUR 9.0m, from EUR 9.8m in 2014 to EUR 18.8m, mainly due to the reasons described above.
Balance sheet
Cash and cash equivalents reduced by EUR 258k, from EUR 2.3m as at 31 December 2014 to EUR 2.0m as at 31 December 2015. Cash flow from operations changed by minus EUR 4.9m, from minus EUR 10.9m in 2014 to minus EUR 15.8m, driven mainly by the increase of the loss from 2014 to 2015. The equity ratio of the group remained virtually the same, with 37% as per 31 December 2015 compared to 36% per 31 December 2014. To secure its growth strategy Heliocentris Energy Solutions AG executed a cash capital increase on 27 April 2016 with gross proceeds of EUR 2.6m from the issue.
Further developments in 2015 and outlook 2016
In 2015 Heliocentris significantly expanded its positioning in the core markets Myanmar and the Middle East region. Heliocentris' solutions are meanwhile successfully in use at all three mobile network operators in Myanmar - Telenor, Ooredoo and MPT - as well as both mobile network operators in the United Arab Emirates - Etisalat and du -. In total meanwhile more than 3,000 mobile base stations worldwide are equipped with Heliocentris' energy management systems and solutions. Furthermore, the developments of new markets in South East Asia and Africa is well on the way with first-time installations at more than 15 customers carried out in 2015.
Based on this progress the Management Board expects significant increases in revenues for 2016 and 2017. In addition, the cost reduction measures announced earlier this year as part of the roadmap to profitability program were successfully started. Due to the expected increases in revenues combined with the reduced fix cost burn-rate, the company expects a significantly improved result for 2016, mainly driven by the second half of the year, as well as achieving operating break even in 2017.
Detailed information to the 2015 financial statements is available on the homepage of Heliocentris Energy Solutions AG under www.heliocentris.com in the investor relations area. The publication of the complete annual report follows end of May 2016.
About Heliocentris Energy Solutions AG
Heliocentris Energy Solutions AG is a leading technology provider of energy management systems and hybrid power solutions for distributed stationary industrial applications, as well as of products and solutions for education, training and applied research purposes in the field of fuel cells, solar, wind and hydrogen energy technologies. Heliocentris' energy management systems creates intelligent, remote controlled, reliable and highly efficient hybrid energy solutions from diverse components such as batteries, photovoltaic modules, conventional diesel generators and fuel cells. The solutions reduce CO2 emissions by an average of 50% and operating costs by up to 60% compared to conventional energy solutions for mobile telecommunications base stations. Heliocentris' fuel cell systems ensure uninterrupted power supply with long runtimes to critical infrastructure such as TETRA base stations, back-bone sites in mobile networks and server stations. The Company is headquartered in Berlin with offices in Munich, Stuttgart, Crespina, Dubai, Yangon, Vancouver and Johannesburg. Heliocentris AG's shares are traded in the Prime Standard of the Frankfurt Stock Exchange under the security identification number A1MMHE. Further information is available at www.heliocentris.com.
Contact Heliocentris Energy Solutions AG D-12489 Berlin Rudower Chaussee 29 Tel. +49 (0)30 340 601 500 Fax +49 (0)30 340 601 599 IR@Heliocentris.com
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27.05.2016 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
---------------------------------------------------------------------------
Language: English Company: Heliocentris Energy Solutions AG Rudower Chaussee 29 12489 Berlin Germany Phone: +49 (0)30 340 601 500 Fax: +49 (0)30 340 601 599 E-mail: ir@heliocentris.com Internet: www.heliocentris.com ISIN: DE000A1MMHE3 WKN: A1MMHE Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Stuttgart, Tradegate Exchange End of News DGAP News Service ---------------------------------------------------------------------------
467133 27.05.2016
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