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RNS Number : 7350V

APR Energy PLC

18 January 2012

For Immediate Release 18 January 2012

APR Energy plc

Pre-close Trading Update

   --     Continued strong performance, with full year 2011 revenues up over 65% 
   --     Profits in line with market expectations 
   --     Panama and Dubai hubs on schedule for Q1 2012 
   --     $400 million credit facility closed with expanded bank group 
   --     2012 new fleet investment expected to be $230 to $260 million

APR Energy plc (LSE:APR), a global leader in temporary power solutions, today issues a trading update for the fiscal year ended 31 December 2011 ahead of its Preliminary Results that will be announced on 22 March 2012.

Note, reported financial statements will cover a 14 month period from 1 November 2010 through 31 December 2011. The Company will also provide pro-forma financial data for the 12 month period from 1 January 2011 through 31 December 2011 to aid in both historical and future comparative analysis. The guidance below relates to the 12 month period to December 31 2011.

TRADING

The Company continued to deliver significant growth in both the 4(th) quarter and for the full year of 2011 with top line revenues increasing 156% in the three month period ending 31 December 2011, thus delivering full year growth of over 65%. Reported revenues are expected to be $93 million for the three month period ending 31 December 2011. Included in the 4(th) quarter figure is $13 million of revenue associated with the one-time asset sale on the Mozambique project. Performance in the 4(th) quarter also included the rapid deployment of the previously announced turbine project win with EDF in Martinique, which was operational in less than thirty days.

Adjusted EBITDA and Adjusted Net Income remained strong and are expected to be in line with the latest market expectations for the full year 2011.

The Company has continued to advance a robust commercial pipeline of both new business opportunities and contract extensions. Recent successes include contract extensions in Botswana (70 MW) and Burkina Faso (30 MW), in addition to the previously announced turbine project in Martinique (20 MW).

As at 31 December 2011, total fleet capacity was 900 MW (2010: 358 MW).

FINANCIAL POSITION

The Company maintains a strong balance sheet with a cash balance of $63 million and no debt as of 31 December 2011. In addition, the Company successfully closed a new five-year $400 million revolving credit facility with an expanded bank group. The facility adds significant financial capacity to further grow the Company's fleet of power generating assets.

OPERATIONS

Focused execution on our strategies to drive global growth continued in the 4th quarter. In addition to the further expansion of fleet capacity noted above, the Company is on schedule to open its first regional hub in Panama shortly. This hub will support the Latin America and Caribbean region. The Company also remains on track to open its second hub in Dubai in late Q1 2012 and is advancing plans for the third hub in the SE Asia region.

Furthermore, the Company continued to add key personnel including Sales and Marketing resources, Engineering, General Counsel and Human Resources.

OUTLOOK

The Company enters 2012 well positioned to capitalise on the significant structural demand for power solutions, particularly in developing markets. The commercial pipeline remains robust with significant opportunities in new contract wins and existing contract extensions. As such, the Company expects to deliver continued strong revenue growth in 2012, while maintaining operating margins at historical levels.

In line with our growth strategy, we expect to invest an additional $230 to $260 million in new fleet capacity and to replace currently leased MW capacity. This investment will include acquisition of power generation assets across our three technologies and will be prudently managed in line with market demand.

Chief Executive Officer John Campion stated: "We are extremely pleased with the strong performance that was delivered in 2011 and are excited to continue this momentum towards significant growth in 2012. Our primary focus continues to be disciplined execution of our growth plans that we believe will generate continued rapid growth of our top line with robust margins and strong value creation."

Enquiries:

   Citigate Dewe Rogerson Consultancy                                      + 44 (0) 20 7638 9571

Anthony Carlisle + 44 (0) 7973 611 888

Lydia-Claire Halliday + 44 (0) 7866 617 671

About APR Energy

APR Energy specialises in the sale of reliable and efficient electricity through the rapid deployment of Customised Turnkey Power Solutions globally. APR's power generation solutions, coupled with comprehensive operation and maintenance services and flexible commercial terms, have established APR as a leader in the utility and industrial segments. APR Energy provides power generation solutions to customers and communities around the world, with an emphasis in Africa, South America, Central America and Asia. In addition to its business of providing these world- class power solutions, APR Energy also implements philanthropic projects at each plant location through its Community Development Programme, which aims to build and maintain close relationships with its neighbours through projects and donations in health and education.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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