Iq Power AG (fka IQPOF)

[Aduke]

iQ Power AG Reports Half-Year Results for 2014
04AUG2014

First time ever Breakeven
Net Revenue of EUR 551.000 / Profit after tax of EUR 5.000
Results improved by EUR 786.000 versus same period 2013
New strategy bears first fruits

iQ Power AG has published its figures for the first half-year 2014:

For the reporting period, 1.January - 30.June 2014 the net revenues totaled EUR 551k 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 higher income and lower costs were the direct result of the new strategy adopted by the company in 2012. The profit after tax was EUR 5k versus a loss of EUR 781k for the same period 2013.

The current assets as of 30.June.2014 were EUR 1.8 million versus EUR 0,3 million as of 31.12.2013. The long-term assets as of 30.June.2014 were EUR 3.3 million roughly equivalent to EUR 3,4 million as of 31.12.2013. Current liabilities sank to EUR 1.8 million from EUR 2.2 million at the end of 2013. Long-term debt increased slightly from EUR 0,6 million to EUR 0,8 million from the end of 2013. Total assets were EUR 5,0 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 50 % 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 2014.


Download iQ Power AG Half-Year Report 2014:
» iQ Power AG Half-Year Report 2014

http://www.iqpower.com/index.php?pid=1,1&id_news=1233&ID=06d71d9454cc195d5bacf6d630d1a5d4