iQ Power publishes Interim Report for the first half 2012

iQ Power AG  / Key word(s): Interim Report

16.05.2012 18:15

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iQ Power 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

Zug/Switzerland, 16 May 2012 - iQ Power AG (ISIN: CH0020609688, WKN:
A0DQVL, Symbol: IQPB), the developer and marketer of eco-friendly and
technologically advanced starter batteries for motor vehicles, announces
the results for the first quarter of 2012.

In the first quarter of 2012, iQ Power Group revenues were MEUR 2.2 (Q1
2011: MEUR 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 MEUR 0.9 (Q1 2011: minus MEUR 0.5 ).

As of 31.12.2012 total assets amounted to MEUR 9.3 (Q1 2011: MEUR 9.7). The
equity of the firm amounted to MEUR 1.9 or about 20% of total equities and
liabilities. Cash-on-hand amounted to MEUR 0.2.

Through the new structure of the company, effective as of April 1, 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.

The CEO

About iQ POWER
iQ Power AG is a developer and supplier of innovative starter batteries for
motor vehicles. The products are technologically advanced, deliver greater
efficiency, and are environmentally sound and lighter in weight. The
company's many achievements include the development of the world's first
software-controlled smart car battery. Industrial batteries and system
solutions for electrical energy management in vehicles help round out its
operational portfolio.
The company's operational element is iQ Power GmbH in Chemnitz (Germany),
which is a wholly owned subsidiary of iQ Power AG. Headquartered in Zug
(Switzerland), iQ Power AG is a publicly listed stock corporation whose
shares are traded on the regulated market (General Standard segment) of the
Frankfurt Stock Exchange, over the counter on the securities exchanges in
Berlin, Düsseldorf, Munich and Stuttgart, as well as on Xetra (ISIN:
CH0020609688, WKN: A0DQVL, IQPB).




Contact:
Company Contact:
iQ Power AG
Metallstrasse 9
6304 Zug
Schweiz
Tel.: +41(0) 41 768 03 63
Fax: +41(0) 41 768 03 68
info@iqpower.com
www.iqpower.com

Investor Relations Contact:
GFEI Aktiengesellschaft
Am Hauptbahnhof 6
60329 Frankfurt am Main
Tel.: +49 (0)69 - 74 30 37 00
Fax: +49 (0)69 - 74 30 37 22
iQPower@gfei.de
www.gfei.de


16.05.2012 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language:     English
Company:      iQ Power AG
              Metallstrasse 9
              6304 Zug
              Switzerland
Phone:        +41 41 7680360
Fax:          +41 41 768 03 68
E-mail:       investor-relations@iqpower.com
Internet:     www.iqpower.com
ISIN:         CH0020609688
WKN:          A0DQVL
Listed:       Regulierter Markt in Frankfurt (General Standard);
              Freiverkehr in Berlin, Düsseldorf, München, Stuttgart
 
End of Announcement                             DGAP News-Service
 
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