|By Business Wire||
|May 14, 2014 02:21 AM EDT||
AEG Power Solutions (FWB:3W9):
|(in € million)||Q1 2014||Q1 2013||Δ in %||Q1 2014||Q4 2013||Δ in %|
|Book to Bill||1.4||0.6||1.4||0.8|
|Normalized EBITDA margin||-18.2%||7.5%||-18.2%||1.8%|
3W Power S.A. (ISIN LU0953526265, 3W9), the holding company of AEG Power Solutions Group, a global provider of UPS systems and power electronic solutions for industrial, commercial, renewable and distributed energy markets, today announced results for Q1 2014.
Group results for Q1 2014
AEG Power Solutions finished Q1 2014 with €64.1 million of orders, a promising start to the new year, and €45.4 million in revenue. Compared to Q1 2013, orders were up 7.0% (Q1 2013: €60.0 million) however revenue was down 51.9% (Q1 2013: €94.4 million). Normalized EBITDA of -€8.3 million (Q1 2014 EBITDA: €8.7 million) was down from Q1 2013 Normalized EBITDA of €7.1 million (Q1 2013 EBITDA: €6.7 million). Normalized EBITDA excludes capital gains and restructuring costs.
In the first three months of 2014 the Group completed several major actions with respect to its global financial and operational restructuring program. The POC module business was sold to Advanced Energy Industries. The capital gain (net of proceeds) of the sale of POC modules is €20.9m. This is offset by an additional €2.6m write-off in capitalized R&D projects. The Group’s affiliate in Bangalore, India was sold to Toshiba Mitsubishi-Electric Industrial Systems Corporation (TMEIC) and is expected to close in Q2 and 3W Power South Africa was sold to ACI SA. The Group’s Telecom Converter business based in Lannion, France was placed into administration and was de-consolidated from the Group.
As at 31 March 2014, the Group maintained €35.8 million in cash and cash equivalents.
Renewable Energy Systems
|(in € million)||Q1 2014||Q1 2013||Δ in %||Q1 2014||Q4 2013||Δ in %|
|Book to Bill||1.5||0.3||1.5||0.9|
|Normalized EBITDA margin||-63.4%||22.7%||-63.4%||-10.9%|
Orders in RES were €11.2 million in Q1 2014, down 39.5% year-on-year (Q1 2013: €18.4 million). This is fully driven by the low order intake in Solar and reduced order intake in POC. RES order backlog was €17.2 million in Q1 2014, down 12.3% year-on-year (Q1 2013: €19.6 million). RES revenue was €7.3 million in Q1 2014, down 86.9% compared to the previous year (Q1 2013: €55.7 million) as a result of last year’s Poly systems revenue and particularly high Solar revenue.
RES Normalized EBITDA in Q1 2014 came to -€4.6 million (Q1 2014 EBITDA: €14.6 million), down from Normalized EBITDA in Q1 2013 of €12.6 million (Q1 2013 EBITDA: 12.6 million). Lower volume, a change in the product mix and the high level of operational expenses led to the drop in EBITDA.
Energy Efficiency Solutions (EES)
|(in € million)||Q1 2014||Q1 2013||Δ in %||Q1 2014||Q4 2013||Δ in %|
|Book to Bill||1.4||1.1||1.4||0.8|
|Normalized EBITDA margin||-1.8%||-8.6%||-1.8%||11.2%|
Orders in EES were €53.0 million in Q1 2014, up 27.6% year-on-year (Q1 2013: €41.5 million). The order backlog stood at €84.7 million in Q1 2014, up 13.9% year-on-year (Q1 2013: €74.4 million). Industrial UPS reports a 35% growth compared to the prior year period. Growth comes from a new frame agreement with a large industrial customer and increased volume in the Middle-East. The Primetech acquisition in mid-2013 contributed to orders in Commercial UPS.
Revenue was €38.1 million in Q1 2014, down 1.6% compared to the prior year (Q1 2013: €38.8 million), impacted by the separation of the Telecom Converter business from the Group. UPS systems grew by 20% compared to the prior year period.
Normalized EBITDA in EES in Q1 2014 was -€0.7 million (Q1 2014 EBITDA: -€2.3 million) up 79.1% from -€3.3 million in Q1 2013 (Q1 2013 EBITDA: -€3.6 million).
At its core, AEG Power Solutions is a power electronics company delivering high quality uninterruptable power supply systems and solutions for industrial and commercial markets. The Group is active in key vertical markets such as oil & gas, transportation, power generation and general industry. Industrial UPS comprises the core area of AEG Power Solution’s competitive strength, is the source of much of the Company’s technology and provides a solid and resilient revenue base. To solidify its business, worldwide sales activities in the industrial markets are in the process of being reinforced and redeployed to fit the renewed focus.
Advanced power supply systems and solutions focus on power control technology as well as applications for renewable energies and next generation distributed power generation. These include industrial processes requiring precise heat or power over time, distributed power generation, network management as well as Solar and other renewables. These new applications will follow mega trends and have some promising applications in areas such as ballast water treatment, energy storage, and grid stabilization.
In 2010, the Company used its power electronics know how to expand into solar systems. AEG Power Solutions will focus on profitable opportunities in Solar and continue to harvest sales; however, Solar revenues are likely to remain far below previous levels.
With so many changes to the Group structure and activities, providing a fully reliable financial forecast is difficult. With the specific measures in mind, the financial outlook for the Group is expected to improve after the full implementation of the financial and operational restructuring program. As of today, management forecasts revenues of approximately €220 million in 2014, €224 million in 2015 and above €240 million in 2016. EBITDA (after extraordinary expenses) is expected to increase from an anticipated negative €24 million in 2014 to a positive €17 million in 2015 and above €20 million thereafter. At the end of fiscal year 2014 the Company expects to have liquidity of approximately €20 million.
Dr. Dirk Wolfertz, Chairman of the Board of Directors comments, “While we have made a lot of progress in our restructuring efforts in a very short time and are confident that we are on the right path, we will now focus on restoring confidence with our business partners. With the continued stability in our core end markets, I believe we can create a solid base to provide best in class products, services and solutions to our customers around the world.” Jeffrey Casper, CRO of AEG Power Solutions added, “In doing that, profitability and sustainable cash-flow generation will remain key priorities for the Company.”
-- End of Announcement --
About 3W Power/AEG Power Solutions:
3W Power S.A. (WKN A1W2L4 / ISIN LU0953526265), based in Luxembourg, is the holding company of AEG Power Solutions Group. The Group is headquartered in Zwanenburg in the Netherlands. The shares of 3W Power are admitted to trading on Frankfurt Stock Exchange (ticker symbol: 3W9).
AEG Power Solutions (AEG PS) Group is a global provider of power electronics systems and solutions for all industrial and demanding commercial power requirements offering one of the most comprehensive product and service portfolios in the area of uninterruptible power supply and power management.
Thanks to its distinctive expertise bridging both AC and DC power technologies and spanning the worlds of both conventional and renewable energy, the company creates innovative solutions for next generation distributed power generation
For more information, visit www.aegps.com
This communication does not constitute an offer or the solicitation of an offer to buy, sell or exchange any securities of 3W Power. This communication contains forward-looking statements which include, inter alia, statements expressing our expectations, intentions, projections, estimates, and assumptions. These forward-looking statements are based on the reasonable evaluation and opinion of the management but are subject to risks and uncertainties which are beyond the control of 3W Power and, as a general rule, difficult to predict. The management and the company cannot and do not, under any circumstances, guarantee future results or performance of 3W Power and the actual results of 3W Power may materially differ from the information expressed or implied in the forward-looking statements. As a result, investors are cautioned against relying on the forward-looking statements contained herein as a basis for their investment decisions regarding 3W Power.
3W Power undertakes no obligation to update or revise any forward-looking statement contained herein.
The Internet of Things (IoT) is going to require a new way of thinking and of developing software for speed, security and innovation. This requires IT leaders to balance business as usual while anticipating for the next market and technology trends. Cloud provides the right IT asset portfolio to help today’s IT leaders manage the old and prepare for the new. Today the cloud conversation is evolving from private and public to hybrid. This session will provide use cases and insights to reinforce the value of the network in helping organizations to maximize their company’s cloud experience.
Oct. 1, 2014 11:45 PM EDT Reads: 1,088
Cultural, regulatory, environmental, political and economic (CREPE) conditions over the past decade are creating cross-industry solution spaces that require processes and technologies from both the Internet of Things (IoT), and Data Management and Analytics (DMA). These solution spaces are evolving into Sensor Analytics Ecosystems (SAE) that represent significant new opportunities for organizations of all types. Public Utilities throughout the world, providing electricity, natural gas and water, are pursuing SmartGrid initiatives that represent one of the more mature examples of SAE. We have spoken with, or attended presentations from, utilities in the United States, South America, Asia and Europe. This session will provide a look at the CREPE drivers for SmartGrids and the solution spaces used by SmartGrids today and planned for the near future. All organizations can learn from SmartGrid’s use of Predictive Maintenance, Demand Prediction, Cloud, Big Data and Customer-facing Dashboards...
Oct. 1, 2014 11:45 PM EDT Reads: 906
IoT is still a vague buzzword for many people. In his session at Internet of @ThingsExpo, Mike Kavis, Vice President & Principal Cloud Architect at Cloud Technology Partners, will discuss the business value of IoT that goes far beyond the general public's perception that IoT is all about wearables and home consumer services. The presentation will also discuss how IoT is perceived by investors and how venture capitalist access this space. Other topics to discuss are barriers to success, what is new, what is old, and what the future may hold.
Oct. 1, 2014 10:00 PM EDT Reads: 1,768
Whether you're a startup or a 100 year old enterprise, the Internet of Things offers a variety of new capabilities for your business. IoT style solutions can help you get closer your customers, launch new product lines and take over an industry. Some companies are dipping their toes in, but many have already taken the plunge, all while dramatic new capabilities continue to emerge. In his session at Internet of @ThingsExpo, Reid Carlberg, Senior Director, Developer Evangelism at salesforce.com, to discuss real-world use cases, patterns and opportunities you can harness today.
Oct. 1, 2014 08:30 PM EDT Reads: 2,172
All major researchers estimate there will be tens of billions devices – computers, smartphones, tablets, and sensors – connected to the Internet by 2020. This number will continue to grow at a rapid pace for the next several decades. With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo in Silicon Valley. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be!
Oct. 1, 2014 05:00 PM EDT Reads: 2,379
Noted IoT expert and researcher Joseph di Paolantonio (pictured below) has joined the @ThingsExpo faculty. Joseph, who describes himself as an “Independent Thinker” from DataArchon, will speak on the topic of “Smart Grids & Managing Big Utilities.” Over his career, Joseph di Paolantonio has worked in the energy, renewables, aerospace, telecommunications, and information technology industries. His expertise is in data analysis, system engineering, Bayesian statistics, data warehouses, business intelligence, data mining, predictive methods, and very large databases (VLDB). Prior to DataArchon, he served as a VP and Principal Analyst with Constellation Group. He is a member of the Boulder (Colo.) Brain Trust, an organization with a mission “to benefit the Business Intelligence and data management industry by providing pro bono exchange of information between vendors and independent analysts on new trends and technologies and to provide vendors with constructive feedback on their of...
Oct. 1, 2014 03:30 PM EDT Reads: 1,024
Software AG helps organizations transform into Digital Enterprises, so they can differentiate from competitors and better engage customers, partners and employees. Using the Software AG Suite, companies can close the gap between business and IT to create digital systems of differentiation that drive front-line agility. We offer four on-ramps to the Digital Enterprise: alignment through collaborative process analysis; transformation through portfolio management; agility through process automation and integration; and visibility through intelligent business operations and big data.
Sep. 30, 2014 10:30 AM EDT Reads: 1,582
There will be 50 billion Internet connected devices by 2020. Today, every manufacturer has a propriety protocol and an app. How do we securely integrate these "things" into our lives and businesses in a way that we can easily control and manage? Even better, how do we integrate these "things" so that they control and manage each other so our lives become more convenient or our businesses become more profitable and/or safe? We have heard that the best interface is no interface. In his session at Internet of @ThingsExpo, Chris Matthieu, Co-Founder & CTO at Octoblu, Inc., will discuss how these devices generate enough data to learn our behaviors and simplify/improve our lives. What if we could connect everything to everything? I'm not only talking about connecting things to things but also systems, cloud services, and people. Add in a little machine learning and artificial intelligence and now we have something interesting...
Sep. 29, 2014 06:45 AM EDT Reads: 1,918
Last week, while in San Francisco, I used the Uber app and service four times. All four experiences were great, although one of the drivers stopped for 30 seconds and then left as I was walking up to the car. He must have realized I was a blogger. None the less, the next car was just a minute away and I suffered no pain. In this article, my colleague, Ved Sen, Global Head, Advisory Services Social, Mobile and Sensors at Cognizant shares his experiences and insights.
Sep. 28, 2014 09:45 AM EDT Reads: 1,560
We are reaching the end of the beginning with WebRTC and real systems using this technology have begun to appear. One challenge that faces every WebRTC deployment (in some form or another) is identity management. For example, if you have an existing service – possibly built on a variety of different PaaS/SaaS offerings – and you want to add real-time communications you are faced with a challenge relating to user management, authentication, authorization, and validation. Service providers will want to use their existing identities, but these will have credentials already that are (hopefully) irreversibly encoded. In his session at Internet of @ThingsExpo, Peter Dunkley, Technical Director at Acision, will look at how this identity problem can be solved and discuss ways to use existing web identities for real-time communication.
Sep. 27, 2014 11:30 PM EDT Reads: 1,939
Can call centers hang up the phones for good? Intuitive Solutions did. WebRTC enabled this contact center provider to eliminate antiquated telephony and desktop phone infrastructure with a pure web-based solution, allowing them to expand beyond brick-and-mortar confines to a home-based agent model. It also ensured scalability and better service for customers, including MUY! Companies, one of the country's largest franchise restaurant companies with 232 Pizza Hut locations. This is one example of WebRTC adoption today, but the potential is limitless when powered by IoT. Attendees will learn real-world benefits of WebRTC and explore future possibilities, as WebRTC and IoT intersect to improve customer service.
Sep. 27, 2014 10:30 PM EDT Reads: 1,851
From telemedicine to smart cars, digital homes and industrial monitoring, the explosive growth of IoT has created exciting new business opportunities for real time calls and messaging. In his session at Internet of @ThingsExpo, Ivelin Ivanov, CEO and Co-Founder of Telestax, will share some of the new revenue sources that IoT created for Restcomm – the open source telephony platform from Telestax. Ivelin Ivanov is a technology entrepreneur who founded Mobicents, an Open Source VoIP Platform, to help create, deploy, and manage applications integrating voice, video and data. He is the co-founder of TeleStax, an Open Source Cloud Communications company that helps the shift from legacy IN/SS7 telco networks to IP-based cloud comms. An early investor in multiple start-ups, he still finds time to code for his companies and contribute to open source projects.
Sep. 27, 2014 10:30 PM EDT Reads: 2,316
The Internet of Things (IoT) promises to create new business models as significant as those that were inspired by the Internet and the smartphone 20 and 10 years ago. What business, social and practical implications will this phenomenon bring? That's the subject of "Monetizing the Internet of Things: Perspectives from the Front Lines," an e-book released today and available free of charge from Aria Systems, the leading innovator in recurring revenue management.
Sep. 27, 2014 09:45 PM EDT Reads: 2,537
The Internet of Things will put IT to its ultimate test by creating infinite new opportunities to digitize products and services, generate and analyze new data to improve customer satisfaction, and discover new ways to gain a competitive advantage across nearly every industry. In order to help corporate business units to capitalize on the rapidly evolving IoT opportunities, IT must stand up to a new set of challenges.
Sep. 27, 2014 08:45 PM EDT Reads: 2,407
There’s Big Data, then there’s really Big Data from the Internet of Things. IoT is evolving to include many data possibilities like new types of event, log and network data. The volumes are enormous, generating tens of billions of logs per day, which raise data challenges. Early IoT deployments are relying heavily on both the cloud and managed service providers to navigate these challenges. In her session at 6th Big Data Expo®, Hannah Smalltree, Director at Treasure Data, to discuss how IoT, Big Data and deployments are processing massive data volumes from wearables, utilities and other machines.
Sep. 27, 2014 01:00 PM EDT Reads: 2,080
P2P RTC will impact the landscape of communications, shifting from traditional telephony style communications models to OTT (Over-The-Top) cloud assisted & PaaS (Platform as a Service) communication services. The P2P shift will impact many areas of our lives, from mobile communication, human interactive web services, RTC and telephony infrastructure, user federation, security and privacy implications, business costs, and scalability. In his session at Internet of @ThingsExpo, Erik Lagerway, Co-founder of Hookflash, will walk through the shifting landscape of traditional telephone and voice services to the modern P2P RTC era of OTT cloud assisted services.
Sep. 26, 2014 11:45 PM EDT Reads: 1,603
While great strides have been made relative to the video aspects of remote collaboration, audio technology has basically stagnated. Typically all audio is mixed to a single monaural stream and emanates from a single point, such as a speakerphone or a speaker associated with a video monitor. This leads to confusion and lack of understanding among participants especially regarding who is actually speaking. Spatial teleconferencing introduces the concept of acoustic spatial separation between conference participants in three dimensional space. This has been shown to significantly improve comprehension and conference efficiency.
Sep. 26, 2014 10:45 PM EDT Reads: 1,522
The Internet of Things is tied together with a thin strand that is known as time. Coincidentally, at the core of nearly all data analytics is a timestamp. When working with time series data there are a few core principles that everyone should consider, especially across datasets where time is the common boundary. In his session at Internet of @ThingsExpo, Jim Scott, Director of Enterprise Strategy & Architecture at MapR Technologies, will discuss single-value, geo-spatial, and log time series data. By focusing on enterprise applications and the data center, he will use OpenTSDB as an example to explain some of these concepts including when to use different storage models.
Sep. 26, 2014 07:45 PM EDT Reads: 2,336
SYS-CON Events announced today that Gridstore™, the leader in software-defined storage (SDS) purpose-built for Windows Servers and Hyper-V, will exhibit at SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Gridstore™ is the leader in software-defined storage purpose built for virtualization that is designed to accelerate applications in virtualized environments. Using its patented Server-Side Virtual Controller™ Technology (SVCT) to eliminate the I/O blender effect and accelerate applications Gridstore delivers vmOptimized™ Storage that self-optimizes to each application or VM across both virtual and physical environments. Leveraging a grid architecture, Gridstore delivers the first end-to-end storage QoS to ensure the most important App or VM performance is never compromised. The storage grid, that uses Gridstore’s performance optimized nodes or capacity optimized nodes, starts with as few a...
Sep. 26, 2014 06:15 PM EDT Reads: 1,716
The Transparent Cloud-computing Consortium (abbreviation: T-Cloud Consortium) will conduct research activities into changes in the computing model as a result of collaboration between "device" and "cloud" and the creation of new value and markets through organic data processing High speed and high quality networks, and dramatic improvements in computer processing capabilities, have greatly changed the nature of applications and made the storing and processing of data on the network commonplace. These technological reforms have not only changed computers and smartphones, but are also changing the data processing model for all information devices. In particular, in the area known as M2M (Machine-To-Machine), there are great expectations that information with a new type of value can be produced using a variety of devices and sensors saving/sharing data via the network and through large-scale cloud-type data processing. This consortium believes that attaching a huge number of devic...
Sep. 26, 2014 06:00 PM EDT Reads: 1,631