DGAP-News

3W Power/AEG Power Solutions Reports Results for Q1 2013 - Seite 3

2012. Solar EBITDA was EUR9.1 million in Q1 2013, up both from a negative
EBITDA a year ago (Q1 2012: -EUR2.4 million) and from the prior quarter (Q4
2012: EUR3.4 million). EBITDA has improved due to an exceptionally strong
Q4 that spilled over into Q1 2013 as large Solar orders were fulfilled.

Renewable Energy Solutions - POC

(in EUR million) Q1 2013 Q1 2012 Δ in % Q1 2013 Q4 2012 Δ in %

Order backlog 6.0 67.6 -91.1 6.0 14.4 -58.4


Orders 6.6 24.0 -72.4 6.6 3.9 69.2


Revenue 15.0 21.4 -29.7 15.0 12.5 20.0


EBITDA 3.5 4.9 -28.8 3.5 5.2 -32.7


EBITDA margin 23.2% 22.9% 23.2% 41.7%


Normalized EBITDA 3.5 4.9 -28.8 3.5 5.2 -32.7


Normalized EBITDA margin 23.2% 22.9% 23.2% 41.7%

Historical numbers have been represented for comparative purposes to
reflect the classification of the telecom converter business (CVT/LED) as a
discontinued operation during Q3 2012.

Orders in POC were EUR6.6 million in Q1 2013, down 72.4% year-on-year (Q1
2012: EUR24.0 million) due to the weakness in POC and up 69.2% compared to
the prior quarter (Q4 2012: EUR3.9 million). POC order backlog was EUR6.0
million in Q1 2013, down 91.1% year-on-year (Q1 2012: EUR67.6 million) and
down 58.4% compared to the prior quarter (Q4 2012: EUR14.4 million).

POC revenue was EUR15.0 million in Q1 2013, down 29.7% year-on-year (Q1
2012 EUR21.4 million) driven by the weakness in POC but up 20.0% compared
to the prior quarter (Q4 2012: EUR12.5 million). POC EBITDA was EUR3.5
million in Q1 2013, down 28.8% year-on-year (Q1 2012: EUR4.9 million) and
down 32.7% from the prior quarter (Q4 2012: EUR5.2 million). POC is in the
midst of a major investment trough in the capex cycle for the expansion of
polysilicon production capacity and the oversupply situation for
polysilicon is expected to continue for the foreseeable future. Orders and
revenues of non polysilicon systems and emerging smart grid applications
continue to present future opportunity but at present are not sufficient to
offset the lack of polysilicon business.

Energy Efficiency Solutions - EES

(in EUR million) Q1 2013 Q1 2012 Δ in % Q1 2013 Q4 2012 Δ in %

Order backlog 71.3 74.3 -4.1 71.3 69.8 2.1


Orders 39.5 42.4 -7.0 39.5 40.5 -2.5


Revenue 36.3 46.9 -22.6 36.3 49.4 -26.5