iQ Power AG publishes Interim Report for the first half 2012
Revenue in 1st Quarter EUR 2.2 million (Q1 2011: EUR 3.6 million)
EBIT of minus EUR 0,9 million (Q1 2011: minus EUR 0,5 million)
Exit from European Sales and Production and Concentration on Licensing eliminates risk of capital intensive Production within the Group
Outlook for 2012 confirmed
In the first quarter of 2012, iQ Power Group revenues were M€ 2,2 (Q1 2011: M€ 3,6). As reported earlier, the entire aftermarket experienced a major downturn in orders due to the unusual extremely mild winter in the first six weeks of 2012. As a result EBIT for the Q1, 2012 amounted to minus M€ 0,9 (Q1 2011: minus M€ 0,5 ).
As of 31.12.2012 total assets amounted to M€ 9,3 (Q1 2011: M€ 9,7). The equity of the firm amounted to M€ 1,9 or about 20% of total equities and liabilities. Cash-on-hand amounted to M€ 0,2.
Through the new structure of the company, effective as of 1.April.2012, which foresees a concentration on Licensing operations and an exit from European sales and production operations, iQ Power will significantly reduce the risks of the capital intensive production. Given the realization of this strategy, the company anticipates an increasingly significant improvement to profitability and liquidity in 2012.
Download Interim Report 1st Quarter 2012
» Interim Report 1st Quarter 2012 http://www.iqpower.com/index.php?pid=1,1&id_news=1047&ID=06d71d9454cc195d5bacf6d630d1a5d4