AUTEV AG
AUTEV AG growth continues apace
AUTEV AG / Key word(s): Miscellaneous AUTEV AG growth continues apace – Order book of around EUR9.6 million confirms positive outlook – Project delays cause postponement of sales to 2012/2013 financial year – New growth and earnings potential through product range expansion – Capital increase with issue volume of around EUR1.0 million completed – New financial investor supports growth strategy Brandenburg an der Havel, 25 July 2012 – AUTEV AG is systematically pressing ahead with its planned growth strategy. The company's growth is particularly reflected by the development of its order book, which currently stands at EUR9.6 million. As a result of project delays, most of the sales envisaged for the 2011/2012 financial year will be generated in the current 2012/2013 financial year. Another source of new growth impetus is the completed expansion of the AUTEV product range. As part of an asset deal, AUTEV AG has acquired basic modular LED systems for cost-effective road and industrial lights from the assets of the insolvent iLEDs GmbH. The new products include highly adaptable standard lights for exterior areas as well as a highly versatile standard LED system for indoor and outdoor use. These products will be assigned to the AuLed product series and produced and sold by AUTEV AG. Adding cost-effective yet high-quality basic LED systems to the AUTEV product range opens up new customer groups as well as new sales and earnings potential for the company. To finance the product acquisition from iLEDs GmbH, product enhancements and forthcoming projects, a capital increase has been carried out by means of a convertible bond issue. The total volume of the corporate action is EUR1 million. In accordance with the payment schedule, AUTEV AG has already received gross proceeds of around EUR0.75 million. The subscriber of the convertible bond is an experienced financial investor that is pursuing a long-term investment project with its commitment to AUTEV AG and also supports the growth strategy of AUTEV AG. 'With the positive development of our order book of EUR9.6 million and the generation of new sales and earnings potential by tapping into new customer groups, we are firmly pressing ahead with our adopted growth strategy. In addition, we are pleased to have gained an experienced financial investor with long-term support for our growth plans. We regard this as vindication of our adopted corporate strategy of generating sustainable growth through ongoing internationalisation and tapping into new customer segments. In view of these positive aspects, we confidently expect positive sales and earnings in the current 2012/2013 financial year', commented Uwe Maiberg, member of the Management Board of AUTEV AG. The Management Board
About AUTEV AG Over the years, AUTEV AG has developed into a high-performance and international engineering and service company. The company also strives to technology and market leadership in new fields. This approach allowed it to successfully enter the market for energy-saving and CO2-reducing lighting technology. After two years of research, AUTEV AG successfully launched the AuLED – innovative and energy-saving street and industrial premises lighting based on state-of-the-art LED technology already being widely used. Further information on AUTEV AG can be found at www.autev.de
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