DGAP-News

3W Power/AEG Power Solutions reports results for Q1 2015 - Seite 3

Germany 9.0 10.4 -13.5 9.0 15.0 -40.0


Asia 7.8 11.9 -34.5 7.8 6.0 30.0


Africa/Middle East 1.2 12.0 -90.0 1.2 8.7 -86.2


Rest of the world 0.7 2.1 -66.7 0.7 1.8 -61.1

Total orders 43.4 59.8 -27.4 43.4 47.6 -8.8


thereof products 29.7 44.8 -33.7 29.7 31.9 -6.9


thereof services 13.7 15.0 -8.7 13.7 15.7 -12.7


Revenue


Europe excl. Germany 14.6 18.6 -21.5 14.6 20.6 -29.1


Germany 10.1 11.4 -11.4 10.1 14.9 -32.2


Asia 5.9 6.6 -10.6 5.9 12.2 -51.6


Africa/Middle East 6.3 3.9 61.5 6.3 7.7 -18.2


Rest of the world 1.5 1.1 36.4 1.5 2.1 -28.6


Total revenue 38.4 41.6 -7.7 38.4 57.5 -33.2


thereof products 26.5 29.2 -9.2 26.5 41.8 -36.6


thereof services 11.9 12.4 -4.0 11.9 15.7 -24.2


AEG Power Solutions finished Q1 2015 with EUR43.4 million in orders.
Compared to Q1 2014, orders were down 32.3% (Q1 2014: EUR64.1 million),
compared to Q4 2014, orders were down 8.8% (Q4 2014: EUR47.6 million). The
Group was affected by a change in product mix; Q1 2015 order intake
included EUR1.2 million for POC and SOLAR solutions compared to Q1 2014
EUR11.2 million and Q4 2014 EUR3.6 million. Adjusted for these numbers, the
order intake for core IPS business activities was as follows; Q1 2015
EUR42.2 million; Q1 2014 EUR52.9 million (down 20.2%) and Q4 2014 EUR44.0
million (down 4.1%). The remaining difference with Q1 2014 of EUR10.7
million is attributable to large orders received in Q1 2014 in the Oil and
Gas segment (Middle East EUR4.9 million and Rest of Europe EUR2.1 million)
and in the Transportation segment (Asia EUR0.8 million). The macroeconomic
situation resulting from the military conflicts in Africa/Middle East and
the decline in oil prices are affecting the Company's order intake in
projects in the Oil and Gas segment as several orders expected in the
Middle East region are suspended. The Oil and Gas segment represents about
25% of our total business. The Transportation Segment included for Q1 2014
a signed frame agreement with Bombardier and the order from Crossrail
following the signed frame agreement in 2014. Q4 2014 adjusted order intake
included a one-time EUR3.5 million order for a battery energy storage
systems solution from a customer located at Mali. The Revenue of this
project will be recognized in Q2 2015.

Group revenue in Q1 2015 was EUR38.4 million, down 15.4% year-on-year (Q1