DGAP-News

United Power Technology AG reports further revenue growth through persistently favourable currency effects

DGAP-News: United Power Technology AG / Key word(s): 9-month figures
United Power Technology AG reports further revenue growth through
persistently favourable currency effects

18.11.2015 / 08:17

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Nine-Month-Results 2015

United Power Technology AG reports further revenue growth through
persistently favourable currency effects
- Revenue growth of 18.5 per cent to 91.3 million Euros

- EBIT decreased by 7.3 per cent to 10.1 million Euros

- Stable cash position of 50.4 million Euros

- Outlook for full financial year 2015 confirmed

Eschborn, Germany, November 18, 2015 - United Power Technology AG (United
Power), one of the leading manufacturers of engine-driven power equipment
in China, reports 18.5 per cent revenue growth to a total of 91.3 million
Euros in the first nine months of 2015, due to a favourable exchange rate
(9M 2014: 77.1 million Euros). In terms of RMB, which is the group's
functional currency, revenues slightly decreased by 1.7 per cent. On
segment level, revenues from the residential generators segment showed the
highest growth with an increase of 25.3 per cent to 39.0 million Euros (9M
2014: 31.1 million Euros). The commercial generator segment rose by 19.7
per cent to 49.2 million Euros (9M 2014: 41.1 million Euros), while sales
of the outdoor power equipment segment dropped by 24.1 per cent to 3.2
million Euros (9M 2014: 4.1 million Euros) in the first nine months of
2015.

The group's cost of sales increased by 21.6 per cent to 77.0 million Euros
(9M 2014: 63.4 million Euros), due to higher sales volumes in connection
with lower selling prices in light of extended periods of industry
consolidation.

As a result, the group's gross profit increased in the reporting period by
4.1 per cent to 14.3 million Euros (9M 2014: 13.7 million Euros). The
corresponding gross profit margin however dropped to 15.7 per cent (9M
2014: 17.8 per cent). Compared to the same period of the previous year the
group's EBIT decreased by 7.3 per cent to 10.1 million Euros (9M 2014: 10.9
million Euros). This is mainly because of lower other income as well as
higher other expenses and increased investments in research and development
during the reporting period. Correspondingly, the EBIT margin decreased by
3.1 per cent to 11.1 per cent (9M 2014: 14.2 per cent). Ultimately, the
group's profit for the period decreased by 16.8 per cent to 6.7 million
Euros (9M 2014: 8.1 million Euros) with a net profit margin of 7.4 per cent