DGAP-Adhoc: iQ Power AG: Interim Report for 1st Quarter 2011 Published

 | Source: EQS Group AG EQS Group AG 

iQ Power AG  / Key word(s): Quarter Results

18.05.2011 18:02

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Interim Report for 1st Quarter 2011 Published

  - Sales revenues of EUR 3.6 million are well above prior-year period (EUR
    1.6 million)

  - EBIT improves to EUR 0.5 million despite higher prices for lead (prior
    year: minus EUR 1 million)

  - Sales and earnings are within the full-year forecast

  - Outlook for 2011 confirmed: Sales of EUR 20 million and licensing
    revenues of more than EUR 1 million

 
Zug/Switzerland, 18 May 2011 - iQ Power AG (ISIN: CH0020609688, WKN:
A0DQVL, Symbol: IQPB), the developer and marketer of eco-friendly and
technologically leading starter batteries for motor vehicles, has confirmed
the preliminary sales figures that were released for 1st quarter 2011.
Sales revenues totaled EUR 3.6 million and were considerably greater than
the EUR 1.6 million in revenues of the same quarter a year ago. This means
that the volume of sales increased for the third consecutive quarter at
rates of over 100 percent compared to the respective prior-year quarters.
These increased revenues are attributable in particular to the broadened
sales base, product awards and TÜV certifications.

Earnings figures improved as well. Despite higher lead prices, the
reporting period's EBIT was bettered to minus EUR 0.5 million from minus
EUR 1 million in 1st quarter 2010. Both the sales and the earnings figures
are within the forecast plan the company made for the full year. This plan
also takes into account what is traditionally a lower demand in the second
quarter.

Total assets increased to EUR 15.7 million as at the 31 March 2011
reporting date (31 Dec 2010: EUR 14.8 million). Equity improved by EUR 1.2
million from EUR 9.9 million to EUR 11.1 million. The equity ratio at the
end of 1st quarter 2011 was approximately 71 percent, while cash and cash
equivalents were EUR 0.4 million.

iQ Power AG sees itself well positioned for the fiscal year 2011 thanks to
its expanded sales base. This is why the company not only expects to double
sales to about EUR 20 million, but also be able to achieve licensing
revenues in a significant amount of more than EUR 1 million for the first
time. In light of its expanded operating business and additional
cost-savings measures, the company expects to post a significant reduction
in the net loss for the year and to reach breakeven in the second half of
2011.

The CEO

The Interim Report 1st Quarter 2011 is available now for downloading on the
iQ Power website www.iqpower.com.



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
D-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




18.05.2011 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
              Schweiz
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; Freiverkehr in Berlin,
              Düsseldorf, München, Stuttgart
 
End of Announcement                             DGAP News-Service
 
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