Heliocentris Announces Half-Year Results 2014

Heliocentris Energy Solutions AG, a leader in solutions and services for energy efficiency and distributed power systems, has published its unaudited half-yearly figures for 2014 in accordance with the German Commercial Code on 30th September 2014.


Key highlights:

  • Half year sales increased by EUR 2.6 million to EUR 4.5 million (+143%) compared to the half year 2013.
  • Heliocentris secures first large order in Myanmar of EUR 5 million for the mobile phone operator Telenor. A follow-on order of around EUR 3 million was received in August.
  • Heliocentris takes over FutureE Fuel Cell Solutions GmbH, a specialist for stationary fuel cell power supply solutions based in Wendlingen, Baden-Württemberg. This partnership creates a new market leader in Germany for fuel cell based energy solutions for telecoms and industry.
  • Heliocentris wins an order of around EUR 1 million from the Federal State of Brandenburg to fit or retrofit 25 based station sites with emergency power backup based on fuel cells.
  • In January and April Heliocentris places convertible bonds totaling a par value of around EUR 10 million with strategic investors.
  • Management expects to at least triple sales 2014 compared to the previous fiscal year.


Ayad Abul-Ella, CEO of Heliocentris AG highlights: „Until now the fiscal year 2014 has been very positive compared to the disappointing year 2013. We were able to generate major orders in the business unit ICT. The supply of 150 turnkey hybrid energy systems for the base station sites in Myanmar for more than 3 million EUR is the largest single order for Heliocentris. First subsequent orders from Myanmar, a won tender by the Land Brandenburg for the fitting an retrofitting of emergency power supply systems as well as follow up orders by „du“ in the UAE and „Cummins“, the leading supplier of diesel generators drastically help to reach our revenue target of EUR 20 million in 2014.“


The first half of the current fiscal year has been accordingly characterized by the business with existing customers, first large scale orders by new customers as well as the successful capital raising via the placement of convertible bonds totaling a par value of around EUR 10 million. This has been a substantial part of the funding of Heliocentris.


With the acquisition of one of the most important fuel cell companies in Germany, FutureE Fuel Cell Solutions GmbH, Heliocentris has a done a major step in completing the solutions portfolio for hybrid power solutions thereby extending the market presence in the network based telecommunications market.


In the first half of 2014, Heliocentris recorded a significant increase in sales compared to the same period last year from TEUR 1,844 in 2013 to TEUR 4,476 in 2014. This increase is primarily due to the signing of major contracts with customers in Myanmar and Germany in the segment “Information & Communication Technologies (ICT) reflected in the sales of TEUR 3,578 in the first half 2014.


Based on the higher sales contribution of the business segment "Information & Communication Technologies (ICT)", compared to last year, and the impact of the related lower gross margins out of the so called "Greenfield business", the adjusted sales related gross margin decreased from 45 % to 31%. Greenfield projects generate a lower gross margin, as they include a high percentage of third party components and external services compared to other projects, which results in a lower added value of Heliocentris.


Total costs below gross profit amounted to TEUR 8,713 (30.06.2013: TEUR 7,777) in the first half of the year. This further increase is mainly due to the increase in personnel expenses from TEUR 4,829 in the comparable period 2013 to TEUR 5,512 in the first half of 2014 which is to a large extend due to the hiring of additional personal resources in the second half 2013. This was inevitable to ensure the acquisition of large scale customers and the implementation of projects. Other costs decreased, compared to the same period last year, from TEUR 2,592 in 2013 to TEUR 2,332 in the first half 2014. This decrease in other costs results, among other factors, from lower Sales and Marketing expenses as well as external services.


The net loss increased to TEUR 6,409 in the first half of 2014 (30.06.2013: TEUR 5,712) due to higher interest expenses of TEUR 350 as a result of the convertible bonds issued in the first half of the year. The Management is confident that the rise of the net loss in the second half of the year will be significantly reduced with the expected increase in sales and will therefore remain below the level of the previous year.


The Group's cash and cash equivalents increased from TEUR 1,429 at the beginning of the year to TEUR 3,980 as per 30.06.2014. This increase is primarily caused by the financing measures taken during the first six months of the year, specifically through the placement of a convertible bond within 2 tranches in January and April.


Based on the current order intake for the second half 2014 the Management assumes further positive development of the business, Heliocentris expects to at least triple sales in comparison to the previous year. In addition, the Management expects increased sales to result in a reduction of the losses on an EBIT level compared the last fiscal year.


In the light of the successes in Myanmar and in particular the good progress in Africa, Europe and in the OEM business the Management sees a further significant increase in revenues in 2015 thereby improving the EBIT notably compared to 2014.


The half-year report of 2014 has been published on 30th September 2014 on the website of Heliocentris Energy Solutions AG.


About Heliocentris Energy Solutions AG


Heliocentris Energy Solutions AG is a technology leader in energy efficiency services and distributed power solutions for customers around the globe in the field of Information & Communication Technologies as well as Training and Research. The company's flagship product "Energy Manager" enables smart connectivity between different components in hybrid energy supply clusters, such as batteries, solar panels, conventional diesel generators or fuel cells, thereby substantially increasing efficiency and decreasing the ecological footprint of an installation at much lower operating cost. In its current roll-out-phase the company targets primarily base stations of mobile telecom operators in world regions with poor and unreliable grid-coverage such as the Middle East and South-East-Asia and has successfully installed several hundred systems in the field already. Further key markets currently in development are mission-critical mobile and stationary applications that require reliable, autonomous power-supply over longer time horizons than conventional batteries can deliver. The company has 150 employees and is headquartered in Berlin with branch offices in Munich, Dubai, Vancouver and Johannesburg. More information is available at www.heliocentris.com.



This press release contains forward-looking statements that are based on current assumptions and forecasts of the management of Heliocentris Energy Solutions AG. Known and unknown risks, uncertainties and other factors could lead to material differences between the forward-looking statements given here and the actual development, in particular the results, financial situation and performance of our Company. The Company assumes no liability to update these forward-looking statements or to conform them to future events or developments. The information in this press release does not constitute an offer of securities for sale or a solicitation of an offer to purchase securities in the United States or any other country.


Press Contact
Heliocentris Energy Solutions AG
Doris Busche
Corporate Communications
Heliocentris Energy Solutions AG
Tel.: +49 89 2000 414 440