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IQ POWER AG

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iQ Power AG : iQ Power announces preliminary revenue for 2011

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02/27/2012 | 04:49am EST
  • Preliminary Group Revenue for 2011 of EUR 11.9 million (+28% vs 2010
  • Direct Sales Revenue in Q4 2011 of EUR 4.2 million (+34% vs. Q4, 2010)
  • iQ Power increases its market share in Q4 2011 by 75%

Zug/Switzerland, 27 January 2012 - iQ Power AG (ISIN: CH0020609688, WKN: A0DQVL, Symbol: IQPB), the developer and marketer of eco-friendly and technologically advanced starter batteries for motor vehicles, announces preliminary non-audited group revenue for 2011 of EUR 11.9 million or a 28% increase versus 2010 (EUR 9.3 million). iQ Power was able to realize this increase in revenue and market share despite a difficult commercial environment.

A greater increase was realized in direct sales excluding license fees for 2011 of EUR 11.7 million. This represented an increase of 33% against 2010 (EUR 8.8 million). In 2010 revenue included a one-time upfront royalty of EUR 0.5 million.


According to preliminary unaudited revenue figures, iQ Power group revenue was EUR 4.3 million excluding license fees, which represented a 34% increase versus 2010 (EUR 3.2 million).


The revenue increase was especially significant because the unusually warm winter weather created a decrease in 4th Quarter volume in the German market for starter batteries of around 25%.th Quarter market volume decrease into account, iQ Power was able to gain about 75% in market share versus 2010.


Detailed information for iQ Power AG for 2011 will be published in the Annual Report due out in April, 2012.

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