2016-07-04 / 17:00
The issuer is solely responsible for the content of this announcement.

Heliocentris Energy Solutions AG publishes figures for Q1/2016

- Revenue in the first quarter influenced by change of government in Myanmar

- Extensive rollouts in the Middle East, Germany and in Myanmar expected in the second half 2016

- Forecast 2016: revenue at EUR 20 to 25 million with earnings improvement over the previous year

- Measures to reduce fixed costs have been implemented to a predominant part in the 1st half of the year

Berlin, July 4, 2016 - Heliocentris Energy Solutions AG (ISIN DE000A1MMHE3), which is listed in the Prime Standard of the Frankfurt Stock Exchange today published its figures for the first quarter of 2016.

Development of revenue and result

From January to March 2016, the Heliocentris Group generated revenue of EUR 1,050 thousand (Q1 2015: EUR 2,941 thousand). EUR 833 thousand (Q1 2015: EUR 1,508 thousand) of this related to the Industry segment and EUR 207 thousand (Q1 2015: EUR 1,433 thousand) to the Academia segment. Reasons for the decline in revenue in the Industry segment included the change of government in Myanmar, which temporarily delayed decision-making processes in this significant market for Heliocentris and reduced the roll-out to a minimum. In addition, expected incoming orders from the Middle East were postponed. The Group's directly attributable, variable cost of sales amounted to EUR 735 thousand or 70.0 % of revenue in the first quarter of 2016 (Q1 2015: 76.9 %). The Group's profit contribution after direct costs was therefore 30.0 % (Q1 2015: 23.1 %). The Group's gross result, which alongside directly attributable (variable) costs is also affected by indirectly attributable (fixed) costs, amounted to minus EUR 1,411 thousand (Q1 2015: minus EUR 780 thousand), due to the modest sales development in the traditionally weak first quarter.

EBITDA was minus EUR 4,310 thousand in the first quarter of 2016 (Q1 2015: minus EUR 3,785 thousand). The loss for the period changed from EUR 4,749 thousand in the first quarter of 2015 to EUR 5,321 thousand in the quarter under review. Earnings per share amounted to minus EUR 0.37 compared to minus EUR 0.45 in the first quarter of 2015.

Balance sheet

Cash and cash equivalents amounted to EUR 1,524 thousand as at 31 March 2016 after EUR 2,000 thousand as at 31 December 2015. At the end of the first quarter of 2016, total assets amounted to EUR 30,748 thousand (31 December 2015: EUR 36,921 thousand). On the basis of the loss for the period, the Heliocentris Group's equity declined to EUR 8,525 thousand in the first quarter of 2016 (31 December 2015: EUR 13,719 thousand); the equity ratio therefore fell to 27.7 % as at 31 March 2016 compared to 37.2 % as at 31 December 2015.

Roadmap to Profitability

Due to the unsatisfactory revenue and earnings performance in 2015 as a whole and in the first quarter of 2016, the Management Board and Supervisory Board of Heliocentris Energy Solutions AG - as already reported - initiated an extensive package of measures in March 2016 with the aim of sustainably increasing the gross profit margin while significantly reducing fixed costs through improved efficiency and a consistent focus on industrial business. For example, a redundancy package was agreed with the Heliocentris works council for the Berlin site in spring 2016. In total, 45 jobs at the German locations were cut with regard to the 30 September 2015 reporting date. The majority took effect on 30 June 2016. Likewise, the core processes in the project business were optimised to allow fixed costs to be reduced through improved efficiency and to initiate a significant reduction in operating costs. The Management Board expects all measures to have been implemented by the end of 2016, which from 2017 will save around EUR 6.5 million compared to 2015. In addition, starting from 2017 higher gross margins thanks to increased revenues from energy management software and proprietary storage systems to major OEM customers and system integrators are expected to contribute to a sustainable increase in earnings.

Forecast 2016

In light of the shortfall in incoming orders in the first half of the year compared to planning, the Management Board expects sales of around EUR 20 to 25 million for the current financial year (2015: EUR 22,1 million). Among others, the order reported in April 2016 for the delivery of 22 fuel-cell emergency standby systems for supplying emergency power to sites in the emergency services digital radio network, the master purchase agreement also concluded in the second quarter with a leading network supplier in Northern Europe, and a further order for the hybridisation of 50 mobile telecommunications base stations in the network of Etisalat in the United Arab Emirates will contribute to this. Achieving this level of revenues mainly depends on incoming orders in the next few months. The Management Board is currently working of various financing options in order to respond to the reduced revenue forecast.

Most of the cost reduction measures already implemented will take effect in the second half of 2016. In connection with the expected revenue increases in the second half of 2016, earnings in the 2016 financial year should be better than in the previous year. For the 2017 financial year, the Management Board expects to achieve a break-even operating result.

About Heliocentris

Heliocentris is a leading provider of energy management systems and energy efficiency solutions to supply power to mobile base stations in regions with inadequate power grids and to safeguard critical infrastructure in regions with stable power grids. The range is complemented by a comprehensive service and software offering to keep the power systems in operation. Heliocentris' energy management system creates intelligent, remote-controlled, reliable and highly efficient hybrid energy solutions from diverse components such as batteries, photovoltaic modules, conventional diesel generators and fuel cells. The solutions reduce CO emissions by 50 % and operating costs by up to 60 % compared to conventional energy solutions for mobile telecommunications base stations. Heliocentris' fuel cell systems ensure uninterrupted power supply with long runtimes to critical infrastructure such as TETRA base stations for public authority radio networks, back-bone sites in mobile networks, power distribution and server stations. Heliocentris also supplies products for professional and university education and applied research in the fields of fuel cell, solar, wind and hydrogen energy technologies. The company is headquartered in Berlin with offices in Munich, Stuttgart, Lavoria, Dubai, Yangon, Johannesburg and Vancouver. Shares of Heliocentris AG are traded in the Prime Standard of the Frankfurt Stock Exchange under the securities identification code A1MMHE. Further information is available at www.heliocentris.com.

Contact
Heliocentris Energy Solutions AG
Investor Relations
Rudower Chaussee 29
D-12489 Berlin

Tel. +49 (0)30 340 601 500
Fax +49 (0)30 340 601 599

IR@Heliocentris.com

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