APR Energy PLC Year End Trading Update (2499W)
24 Janeiro 2013 - 5:00AM
UK Regulatory
TIDMAPR
RNS Number : 2499W
APR Energy PLC
24 January 2013
For Immediate Release
24 January 2013
APR Energy plc ("the Company")
Year End Trading Update
Strong Performance and Growth in 2012. New Contract Wins and
Growing Backlog Drive Continued Momentum
-- Full year contract wins of 569MW and contract renewals of 724MW
-- Order backlog of 11,592 MW-months, up 80% year on year
-- Global Hub strategy now in place
-- Penetration of new markets with first contract win in Indonesia
-- Strong start to 2013
APR Energy plc (LSE:APR), a global leader in temporary power
solutions, today issues a trading update for the fiscal year ended
31 December 2012 ahead of its Preliminary Results, which will be
announced on 21 March 2013.
TRADING
APR Energy gained record new contract wins of 569MW and 724MW of
contract extensions in 2012 (2011: 513MW contract wins, 43MW
contract extensions). Group revenues totalled approximately $57
million for the three-month period ending 31 December 2012,
bringing full year revenues to approximately $265 million, up 33%
versus 2011 ($200 million).
As at 31 December 2012, total fleet capacity was 1,311MW, up 45%
over December 2011 (900MW), with order backlog of over 11,592
MW-Months-an increase in the order book of 80% from the end of
2011. In addition, the Company invested over $300 million in fleet
capacity in 2012.
We have continued to make progress during 2012, with management
expecting strong EBITDA margins and Net Income expectations to be
towards the higher end of analysts' expectations.
FINANCIAL POSITION
The Company had gross debt of $205 million (excluding
capitalised finance costs) at the year end. Cash on the balance
sheet as of 31 December 2012 was approximately $21 million,
resulting in net debt of $184 million.
OPERATIONS
During Q4, APR Energy signed a new 200MW contract in Uruguay to
provide its dual-fuel gas turbines to address anticipated power
needs for the customer. At the time of announcing, the customer
also signed an extension to its existing 100MW contract. We believe
this contract announcement is further evidence of the flexibility
and applicability of the dual-fuel gas turbine technology and
results in our dual-fuel turbine fleet being fully utilised. APR
Energy anticipates further demand for our turbine technology in
2013 and the company will receive additional delivery of turbines
during this quarter.
Additionally, in early 2013, we have won new contracts in
Guatemala (16MW) and Indonesia (15MW). The Indonesian win
represents an important milestone in the evolution of APR Energy.
Penetrating one of the world's largest temporary power markets
validates the Hub strategy we initiated during 2012, in particular,
the opening of our Malaysian hub in the autumn of 2012.
Contract renewals remain an important driver of our business
and, during the first few weeks of 2013, we are pleased to have
secured long-term key contract extensions totalling 70MW in Senegal
and Gabon.
OUTLOOK
We continue to see strong demand for power solutions in Africa,
Latin America, Middle East and South East Asia, with on-going
discussions on a number of opportunities driving a strong
commercial pipeline. At this early stage of our financial year, the
Company anticipates fleet capital expenditure of approximately $150
million for further expansion of its gas turbine fleet and
associated infrastructure and total capital expenditure to be in
line with analysts' expectations. The Company is focused on making
additional operational improvements during 2013 and, in particular,
on increasing utilisation in our diesel fleet.
We expect to continue to make good progress in 2013. APR Energy
remains confident in the structural growth trends within the
temporary power market and, specifically, in the application of
mobile dual-fuel turbine technology.
Enquiries:
APR Energy +44 (0) 203 427 3747
Brian Gallagher +44 (0) 777 590 6076
Citigate Dewe Rogerson Consultancy + 44 (0) 20 7638 9571
Anthony Carlisle + 44 (0) 7973 611 888
Lydia-Claire Halliday + 44 (0) 7866 617 671
Forthcoming Announcements:
2013 Preliminary Results 21 March 2013
Q1 Interim Management Statement 15 May 2013
About APR Energy
APR Energy specialises in the sale of reliable and efficient
electricity through the rapid global deployment of customised,
turnkey power solutions. APR's fast-track approach, flexible
offerings, and comprehensive operation and maintenance services
have established it as a leader in the utility and industrial
segments. APR Energy provides its power generation solutions to
customers and communities around the world, with an emphasis in
Africa, South America, Central America, the Middle East and Asia.
APR Energy also implements philanthropic initiatives at each plant
location through its Community Development Programme, which aims to
build and maintain close relationships in the areas in which it
works through projects and donations in health and education.
Certain statements included in this announcement of preliminary
results constitute, or may constitute, forward-looking statements.
Any statement in this announcement that is not a statement of
historical fact (including, without limitation, any statements
regarding the Company's future expectations, operations, financial
performance, financial condition and business) is or may be a
forward-looking statement. Any such forward-looking statements are
subject to risks and uncertainties that may cause actual results to
differ materially from those projected or implied in any
forward-looking statement. These risks and uncertainties include,
among other factors, changing economic, financial, business or
other market conditions. Although any such forward-looking
statements reflect knowledge, belief and / or information available
at the date of this announcement, reliance should not be placed on
them. Without limitation to the foregoing, nothing in this
announcement should be construed as a profit forecast.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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