- Noteholders of 2014/2019 and 2015/2020 bonds agree to capitalize and defer interest payments to end of maturity and allow for fresh capital to be taken up
- Measures significantly improve liquidity as of fiscal year 2017, enabling the company to accelerate its refocusing and achieve sustained profitability
- Revenue guidance of approx. €160 million in 2017 and €180 million in 2018 confirmed, EBITDA margin of approx. 10% achievable after planned cost savings are implemented 5 January 2017,
3W Power S.A. (ISIN LU1072910919, 3W9K), the holding company of AEG Power Solutions Group, announced today that the noteholders of the 2014/2019 bond (ISIN DE000A1ZJZB9) and 2015/2020 convertible bond (ISIN DE000A1Z9U50) have agreed to capitalize and defer interest payments to the end of the bonds’ maturities and allow for fresh capital to be taken up. In a bondholder meeting held today, the 2014/2019 bondholders gave their approval, while the 2015/2020 bondholders already had given their approval in their voting from December 16 through December 20, 2016. This will significantly improve the group’s liquidity as of fiscal year 2017.
Jeffrey Casper, CEO of 3W Power, said: “These measures will further help us to improve our positioning and focus on our core industrial business. UPS systems and solutions from AEG Power Solutions ensure the continuous availability of power and safe operations for all types of critical applications in infrastructures, industrial processes and Data & IT. For over 70 years, the company stands for rugged reliability as well as world-class engineering in power supply and a global customer base trusts in our solutions. Our goal is to grow from this established position, building on our expertise and developing our product offering.” On the next steps of the process, Jeffrey Casper added: “We will commence negotiations with stakeholders in our German subsidiary in the course of January 2017. With the implementation of greater efficiency and reduced fixed costs, our group reorganization that started in 2014 with the aim to focus on our competitive strengths will be nearly completed. Going forward, we must achieve sustained profitability and focus on the needs of our customers as well the services and products in our core ISP business.”
The group confirms its revenue guidance of approx. €160 million in 2017 and €180 million in 2018, with an EBITDA margin of approx. 10% being achievable after the planned cost savings, most notably the restructuring of the German subsidiary, are implemented.
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About 3W Power:
3W Power S.A. (WKN A114Z9 / ISIN LU1072910919), based in Luxembourg, is the holding company of AEG Power Solutions Group. The Group is headquartered in Zwanenburg in the Netherlands. The shares of 3W Power are admitted to trading on Frankfurt Stock Exchange (ticker symbol: 3W9K). AEG Power Solutions is a leading provider of UPS systems and power electronic solutions for industrial, commercial, renewable and distributed energy markets throughout the world with main sites in France, Spain, Germany, Singapore and China, with further direct 14 sales and service offices worldwide.
For more information, visit www.aegps.com
Tobias Eberle / Thomas Katzensteiner
Charles Barker Corporate Communications GmbH
Phone: +49 69 79 40 90 24 / +49 69 79 40 90 25
Email: Tobias.Eberle@charlesbarker.de / Thomas.Katzensteiner@charlesbarker.de