iQ Power AG

iQ Power AG reports 9 months results for 2014

Adhoc announcement according to article 15 WpHG

Zug (pta026/18.11.2014/20:15) - - Net Revenue of EUR 761.000; Loss after tax of EUR 365.000 - Results improved by 70% versus same period 2013

Zug/Switzerland, 18. November 2014 - iQ Power AG (ISIN: CH0020609688 WKN: A0DQVL / Symbol: IQPB, ISIN: CH0199540599 / WKN: A1J7TW / Symbol IQPA), a developer and marketer of technologies for environmentally friendly and technologically innovative starter batteries for motor vehicles and licences in these technologies, has published its figures for the first 9 months of 2014.

For the reporting period, 1.Jan - 30.September 2014 the net revenues totaled EUR 761k vs. EUR 12k in the same period 2013. The large increase was due to the start of sales of the strategic licensee, Discover Energy and the conclusion of the license contract with the Brazilian licensee including an upfront royalty payment.

The loss after tax was EUR 365k versus a loss of EUR 1.153k for the same period 2013. Total expenses to date of EUR 1.1 million were the same as in the comparable period in 2013. The higher income and same level of expenses were the direct result of the new strategy adopted by the company in 2012.

The current assets as of 30. September 2014 were EUR 1.4 million versus EUR 0,3 million as of 31.12.2013. The long-term assets as of 30.September.2014 were EUR 3.4 million equivalent to EUR 3,4 million as of 31.12.2013. Current liabilities sank to EUR 1.6 million from EUR 2.2 million at the end of 2013. Long-term debt of EUR 0,6 million was the same as the end of 2013. Total assets were EUR 4,7 million (vs. EUR 3,8 million per 31.12.2013). Equity amounted to EUR 2,5 million (vs. EUR 1,0 million per 31.12.2013) or 55 % of the total debt-equity mix, up from 27% at year-end 2013. Cash improved to EUR 0,8 million from EUR 0,1 million per 31.12.2013.

All known and verifiable risks were considered in the financial statements.

Due to the lean cost structure and improved market position of iQ Power AG as Licensor, the company is well-positioned for further good business developments in the upcoming months ahead.

Management

Further information can be found in iQ Power AG's 2013 Annual Report, which is now available to download from iQ's website at www.iqpower.com.

About iQ POWER iQ Power develops and markets a patented technology for the starter battery. The technology dramatically improves the lifetime, re-charging and reliability of the battery at low costs and no negative technical side-effects.

As a stock corporation, iQ POWER AG is a listed company. The company's common stock securities are traded on the regulated market (General Standard) of the German Stock Exchange in Frankfurt, over the counter on the stock exchanges in Berlin, Düsseldorf, Munich and Stuttgart as well as via XETRA (ISIN: CH0020609688, German Securities Code Number (WKN): A0DQVL, IQPB) and the preferred and voting rights stocka are traded in Berlin (ISIN: CH0199540599, German Securities Code Number (WKN): A1J7TW, IQPA).



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emitter: iQ Power AG address: Metallstrasse 6, 6304 Zug country: Switzerland contact person: Dr. Eva Reuter phone: [phone] e-mail: [e-mail] website: www.iqpower.com

ISIN(s): CH0020609688 (share) stock exchanges: regulated market in Frankfurt; free market in Stuttgart, free market in Munich, free market in Dusseldorf; open market in Berlin

[ source: http://www.pressetext.com/news/20141118026 ]