3W Power S.A. / AEG Power Solutions
3W Power S.A.: Bondholders support accelerated refocusing on core industrial business to achieve sustained profitability
DGAP-News: 3W Power S.A. / AEG Power Solutions / Key word(s): Bond – Noteholders of 2014/2019 and 2015/2020 bonds agree to capitalize and defer interest payments to end of maturity and allow for fresh capital to be taken up – Measures significantly improve liquidity as of fiscal year 2017, enabling the company to accelerate its refocusing and achieve sustained profitability – Revenue guidance of approx. EUR160 million in 2017 and EUR180 million in 2018 confirmed, EBITDA margin of approx. 10% achievable after planned cost savings are implemented 5 January 2017, Luxembourg / Zwanenburg, The Netherlands. 3W Power S.A. (ISIN LU1072910919, 3W9K), the holding company of AEG Power Solutions Group, announced today that the noteholders of the 2014/2019 bond (ISIN DE000A1ZJZB9) and 2015/2020 convertible bond (ISIN DE000A1Z9U50) have agreed to capitalize and defer interest payments to the end of the bonds’ maturities and allow for fresh capital to be taken up. In a bondholder meeting held today, the 2014/2019 bondholders gave their approval, while the 2015/2020 bondholders already had given their approval in their voting from December 16 through December 20, 2016. This will significantly improve the group’s liquidity as of fiscal year 2017. On the next steps of the process, Jeffrey Casper added: “We will commence negotiations with stakeholders in our German subsidiary in the course of January 2017. With the implementation of greater efficiency and reduced fixed costs, our group reorganization that started in 2014 with the aim to focus on our competitive strengths will be nearly completed. Going forward, we must achieve sustained profitability and focus on the needs of our customers as well the services and products in our core ISP business.” The group confirms its revenue guidance of approx. EUR160 million in 2017 and EUR180 million in 2018, with an EBITDA margin of approx. 10% being achievable after the planned cost savings, most notably the restructuring of the German subsidiary, are implemented. — End of Announcement — For more information, visit www.aegps.com Press contact: Investor Relations contact:
05.01.2017 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
Language: | English |
Company: | 3W Power S.A. / AEG Power Solutions |
19, rue Eugène Ruppert | |
L-2453 Luxemburg | |
Grand Duchy of Luxembourg | |
Phone: | +31 20 4077 800 |
Fax: | +31 20 4077 801 |
E-mail: | janine.rechel@aegps.com |
Internet: | www.aegps.com |
ISIN: | LU1072910919, DE000A1A29T7, |
WKN: | A114Z9 , A1A29T, |
Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Munich, Tradegate Exchange |
End of News | DGAP News Service |