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United Power Technology AG United Power Technology AG records positive revenue and earnings development in 2015

DGAP-News: United Power Technology AG / Key word(s): Final Results
United Power Technology AG United Power Technology AG records positive
revenue and earnings development in 2015

28.04.2016 / 08:33
The issuer is solely responsible for the content of this announcement.

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Annual Results 2015

United Power Technology AG records positive revenue and earnings
development in 2015
- Revenue increase of 19.0 per cent to 113.8 million Euros

- Improved EBIT reached 10.8 million Euros

- Expanded product and customer portfolio

- Positive outlook for 2016

Eschborn, Germany, April 28, 2016 - United Power Technology AG (United
Power), one of the leading manufacturers of engine-driven power equipment
in China, reports a positive revenue and earnings development for the 2015
fiscal year despite the on-going consolidation in its industry. Thus,
United Power achieved a revenue growth in the reporting period of 19.0 per
cent to a total of 113.8 million Euros (2014: 95.6 million Euros). The main
reason for this increase was a favourable EUR/RMB exchange rate as well as
a somewhat increased demand in some of the new emerging markets and in the
domestic market in China as well as in North America. In terms of RMB, the
Group's revenue increased year-on-year by 1 per cent.

These positive developments are also reflected in the individual segments
of United Power: Revenues in the largest segment commercial generators
increased by 23.5 per cent to 60.9 million Euros, after 49.3 million Euros
in 2014. Revenues from the residential generators increased by 15.6 per
cent from 42.7 million Euros to 49.3 million Euros. The outdoor power
equipment segment, which comprises of industrial equipment such as water
pumps as well as landscaping machines, generated revenues of 3.5 million
Euros. Compared to last year's 3.1 million Euros this corresponds to an
increase of 10.2 per cent.

Due to the higher revenue, the gross profit in 2015 increased by 4.5 per
cent to 17.1 million Euros (2014: 16.4 million Euros). At the same time
though, the gross profit margin decreased by 2.1 percentage points. This
was triggered mainly by a further downward price adjustment. The lower
selling prices however were offset by the favourable exchange rate. In
addition, other expenses decreased by 33.9 per cent to 1.8 million Euros
(2014: 2.7 million Euros). As a result, EBIT was improved by 18.8 per cent
to 10.8 million Euros (2014: 9.1 million Euros). At the same time, the EBIT