Yverdon-les-Bains, Switzerland, 7.09.2016 – Leclanché SA (SIX Swiss Exchange: LECN), the vertically integrated battery energy storage solution provider for industrial scale applications, today announced its interim results for the half year ending 30 June 2016.
Anil Srivastava, Leclanché CEO, said, “Leclanché is one of the fastest-growing companies in the world operating in the industrial-scale energy storage market. I am pleased to report that the Company has achieved key milestones that were set out in the Growth Plan endorsed by a vast majority of our shareholders during the AGM held on 4 May 2016. Our Revenue, Order Intake and Sales pipeline continues to grow faster than the addressable market growth @37% CAGR1. We intend to cement Leclanché as one of the leaders in this field, and our activities are specifically undertaken with this in mind.”
Building Momentum
The Company has delivered significant growth in the first half of the year:
Growth Figures in Context
Full year 2016 revenues will be approximately CHF 28 million, which is an increase of 55%
over 2015. The difference between this and the 100% planned uplift under the Growth Plan
is largely attributable to (i) a delay in financial closing of the IESO Canadian Project implying a delay in shipping of goods and (ii) a fire at the Company’s cell manufacturing facility in Germany.
“The delay in financial closing of our Canadian IESO project was unfortunate, but we have
lost no business and this revenue will be recognized in H1 2017,” Srivastava explained. “We
are positioned at an inflection point to execute on our growth, and to manage a broader and more stable project pipeline from a position of financial strength rather than being reliant on individual projects.”
Leclanché is on track to achieve EBITDA breakeven in 2018 or sooner, and confirm as
communicated during the AGM held on 4 May 2016 that the breakeven-volume is
approximately 100MWh of delivery and commissioning on an annualized basis.
Major customer wins
“We are very pleased to report that the Company has achieved a major milestone in that we
now have working reference projects in all of our addressable markets. This has been
achieved within 18-months of the launch of the Growth Plan, and can be used to
demonstrate our ability to execute on time and under budget.” Srivastava declared.
Utility-scale generation and micro grid applications – forecast to grow 48% annually to 4.2
GWh1.
Commercial & industrial battery systems – forecast to grow 48% annually to 11.3 GWh1
eTransport (including buses, ferries, forklifts, trains and industrial material handling) –
forecast to grow 37% annually to 6 GWh1.
Strengthening execution capabilities
Jim Atack, Chairman added: “The board of directors wish to thank Anil Srivastava, the CEO, and his team for the excellent results in the first half of the year. The Company is on course to deliver sustained growth and aims to achieve EBITDA breakeven in 2018 or sooner. The Company is increasingly recognized as the preferred provider of industrial-scale energy storage systems for the European and North American markets.”
“We sincerely thank our shareholders, suppliers and employees for their support, trust and dedication. I am excited about the solid foundation on which our growth is built.” Anil Srivastava concluded.
Publication of results
Leclanché SA published today its 2016 interim report which is available in pdf format on the Company Web site:
www.leclanche.com/investor-relations/financial-reports-publications/annual-reports
Analyst and investor call
Leclanché will discuss its first half-year 2016 financial results during a live audio webcast taking place on Wednesday, September 7 at 3:00pm CET.
Agenda:
1. Company presentation (1 hour)
2. Q & A session (30 minutes)
The conference call will be held by Anil Srivastava, CEO, and Hubert Angleys, CFO
Details: Wednesday 7th of September 2016, 3.00pm CET
Dial in:
Location
Conference ID
Phone Number
Belgium, Brussels
7697137
+32 (0)2 404 0659
China, Beijing
7697137
+86 10 5904 5462
Denmark, Copenhagen
7697137
+45 35 15 80 49
Finland, Helsinki
7697137
+358 (0)9 7479 0361
France, Paris
7697137
+33 (0)1 76 77 22 74
Germany, Frankfurt
7697137
+49 (0)69 2222 13419
Hong Kong, Hong Kong
7697137
+852 3018 8767
Luxembourg, Luxembourg
7697137
+352 2786 1395
Switzerland, Geneva
7697137
+41 (0)22 567 5729
United Kingdom, London
7697137
+44 (0)203 043 2003
United States, Colorado Springs
7697137
+1 719-325-4746
About Leclanché
Headquartered in Switzerland, Leclanché SA is a leading provider of high-quality energy storage solutions designed to accelerate our progress towards a clean energy future. Leclanché’s history and heritage is rooted in over 100 years of battery and energy storage innovation and the Company is a trusted provider of energy storage solutions globally. This coupled with the Company’s culture of German engineering and Swiss precision and quality, continues to make Leclanché the partner of choice for both disruptors, established companies and governments who are pioneering positive changes in how energy is produced, distributed and consumed around the world. The energy transition is being driven primarily by changes in the management of our electricity networks and the electrification of transport, and these two end markets form the backbone of our strategy and business model. Leclanché is at the heart of the convergence of the electrification of transport and the changes in the distribution network. Leclanché is the only listed pure play energy storage company in the world, organised along three business units: stationary storage solutions, e-Transport solutions and specialty batteries systems. Leclanché is listed on the Swiss Stock Exchange (SIX: LECN).
SIX Swiss Exchange: ticker symbol LECN | ISIN CH 011 030 311 9
Disclaimer
This press release contains certain forward-looking statements relating to Leclanché’s business, which can be identified by terminology such as “strategic”, “proposes”, “to introduce”, “will”, “planned”, “expected”, “commitment”, “expects”, “set”, “preparing”, “plans”, “estimates”, “aims”, “would”, “potential”, “awaiting”, “estimated”, “proposal”, or similar expressions, or by expressed or implied discussions regarding the ramp up of Leclanché’s production capacity, potential applications for existing products, or regarding potential future revenues from any such products, or potential future sales or earnings of Leclanché or any of its business units. You should not place undue reliance on these statements. Such forward-looking statements reflect the current views of Leclanché regarding future events, and involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. There can be no guarantee that Leclanché’s products will achieve any particular revenue levels. Nor can there be any guarantee that Leclanché, or any of the business units, will achieve any particular financial results.
Contacts Leclanché
Media Switzerland /Europe:
Thierry Meyer
T: +41 (0) 79 785 35 81
E-mail: tme@dynamicsgroup.ch
Media North America:
Henry Feintuch / Ashley Blas
T: +1-914-548-6924 / +1-509-494-4053
E-mail: leclanche@feintuchpr.com
Media Germany:
Christoph Miller
T: +49 (0) 711 947 670
E-mail: leclanche@sympra.de
Investor Contacts:
Anil Srivastava / Hubert Angleys
T: +41 (0) 24 424 65 00
E-mail: invest.leclanche@leclanche.com