TIDMAPR

RNS Number : 3104I

APR Energy PLC

24 July 2012

For Immediate Release 24 July 2012

APR Energy plc ("the Company")

Half Year Trading Update

   --      Revenue growth of 162% over 1H 2011 
   --      344 MW new contracts and 356 MW extensions delivered 
   --      Successful opening of Panama and Dubai Hubs 
   --      Malaysian Hub on schedule for Q3

APR Energy plc (LSE:APR), a global leader in temporary power solutions, today issues a trading update for the first half of fiscal year 2012. Interim Results for the six months will be announced on 30 August 2012.

TRADING

Group revenues totalled $155 million for the six month period ending 30 June 2012, up 162% over the prior year on a pro-forma basis. As previously announced during that period the Company achieved new contract wins of 344MW with 356MW of contract extensions.

As at 30 June 2012, total fleet capacity was 1052 MW (December 2011: 900 MW) with order backlog of over 9,000 MW-Months - an increase of 39% from the end of Q1 2012 and an increase of 41% from the end of 2011.

APR Energy has continued to make progress in all areas during 2012. During the first half adjusted EBITDA margins have been strong and in line with historical levels.

FINANCIAL POSITION

The Company maintains a strong balance sheet with gross debt of $104m and cash on the balance sheet of $34m resulting in net debt as of 30 June 2012 of $70m.

OPERATIONS

The successful execution of the Hub strategy during 2012 is an important foundation for the further development of the Company. The opening of the Dubai hub in Q1 has been instrumental in facilitating important contract wins of over 200MW in a strategically important region. We plan to open our third hub in Malaysia during the third quarter.

The accelerated installation and operation of the 120MW power facility in Cyprus in June is another notable success for the Company. Using our latest enhancements in plant design, deployment and logistics, we were able to have the plant operational within 20 days of equipment arrival - ahead of the contracted schedule.

OUTLOOK

We continue to see significant structural demand for power solutions especially in Africa, Latin America, Middle East and South East Asia. The commercial pipeline remains robust with significant opportunities in new contract wins and existing contract extensions. As such, the Company expects to deliver on these contract opportunities in the second half of 2012, while delivering improved operating efficiencies. APR Energy remains confident in the robust medium and long-term trends of structural growth within the temporary power market.

FORTHCOMING ANNOUCEMENTS

 
Interim Results               30 August 2012 
Interim Management Statement  25 October 2012

CONFERENCE CALL

There will be a conference call investors and analysts at 08.30hrs British Summer Time today.

Dial-in details:

   Conference Name:         APR Energy Trading Update 
   Telephone   +44 (0) 203 003 2666

Once the call is finished, it will be available on our website, www.aprenergy.com, and a replay will be available for 14 days:

Replay telephone +44 (0) 20 8196 1998 (from within the UK).

Access Pin: 1355425

Enquiries:

APR Energy +44 (0) 20 3427 3747

Brian Gallagher +44 (0) 7775 906 076

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

Anthony Carlisle + 44 (0) 7973 611 888

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

Notes for Editors

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, the Middle East 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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